More people are getting diamond-plated credit card payments

More people use credit cards, but fewer are getting their cash for the diamond they’re buying, according to a study released Monday.

The study by the Pew Research Center and Credit Suisse says the percentage of people using credit cards to buy diamonds fell from 27 percent in 2013 to 22 percent in 2016.

The survey was based on 1,200 Americans, ages 18 to 64, and was conducted by the U.S. Census Bureau.

“The decline in the use of credit cards is likely to have been driven by a combination of factors, including the declining popularity of using credit to buy and the lack of availability of credit for diamond purchases,” said Pew Research Associate Dr. Kevin Cate, who conducted the study.

“However, this trend has been occurring for decades.”

The Pew report found that while credit card use fell slightly, more Americans used a credit card to buy a diamond in 2017 than in 2016, at 28 percent versus 21 percent.

More people were getting their diamond credit cards from the bank, which increased by 16 percent from 2014 to 2017.

“Although credit card usage has declined, the increase in the number of credit card purchases in the last three years suggests that people are increasingly willing to use credit to purchase diamond jewelry,” said Cate.

“While the number and share of credit-card purchases has increased, credit card holders are still more likely to use a credit-to-buy card, with only 14 percent of the credit card users saying they use a card to pay for a diamond.”

The study also found that the share of people who said they’ve paid cash to get diamonds from a friend, relative, or someone else has grown over the last decade, from 17 percent in 2014 to 20 percent in 2017.