In psychology circles, it’s an extremely popular notion: colour, whether of a product or store, may influence the way we spend money.
It’s why consumers often linger in stores with blue interiors (the colours are calming) or why they eat quicker in restaurants with red walls (they stimulate our appetite and make us rush through meals). It could also be why we tip more generously when handed a gold tipping tray over a black one.
But what about the colour of our credit cards? Does the colour of your card make you want to spend more money? Though no substantive research has been conducted around this question, we can take what we know about the psychology of colours and apply it to credit cards.
Which credit card colours might make you spend more money? Let’s take a look.
Black
Black denotes sophistication. It’s why the most exclusive credit card in the world is black—the so-called “black credit card.” Those with a black-coloured credit card may feel they have to live up to the expectation of being high-class and wealthy. In other words, it’s a colour that could make you want to keep up with the Joneses.
Gold
Gold is emblematic of wealth. It represents prosperity, success, and confidence. In the hierarchy of credit cards, gold has traditionally been above silver and other colours, though these days, colour matters less to merchants than it used to. Still, having a gold credit card in your possession might give you special benefits other cardholders don’t have (such as priority seating on flights and more insurance). Like a black-coloured credit card, a gold card can encourage high-end spending, since, after all, you have an image to uphold.
Silver
Silver is a neutral colour, one that doesn’t attract as much attention as gold. It might denote grace or elegance (think Apple laptops), or it could make you feel more modern. Silver cards can represent prosperity and success, though it’s not as flashy as other plated card.
Does silver make you overspend? It’s hard to say. On the one hand, psychologists believe silver is a colour that reassures (it’s why the magnetic strip on credit cards is traditionally silver). On the other hand, if it’s flashy, your silver card might make you feel more affluent than you are. Best to keep watch of your spending when you have a silver card in hand.
Blue
The colour blue is naturally calming. It represents loyalty and trust, which is why some payment processors, like Paypal, use blue in their branding. In the hierarchy of credit cards, a blue card is often one of the most basic you can get. Unlike gold, silver, and even black, blue doesn’t scream affluence. But because it inspires loyalty, it’s possible you could find yourself using this card above others, since you feel more secure using it.
Green
Green is the colour of business. It’s why most business credit cards are some shade of green. It denotes stability and growth, and it’s also the chosen colour of ecological movements.
Does it make you spend more money? It’s possible. The longest Amex card offered, in fact, is green. There might be a reason Amex chose this hue: it’s the colour of American dollars. That might make Americans spend more money, though it probably has less influence on Canadian consumers.
How does your credit card influence your spending?
Aside from colour, be careful about using your credit card on everyday spending. Because a credit card extends credit to you, you might think you have more money to spend than you actually do. Cash, on the other hand, is tangible: when it’s gone, it’s gone. Just be aware of how much you’re spending on your credit card—ideally with a budget—and you can prevent yourself from spending more than you can reasonably afford.
