How Credit Card Debt  is Rising Among Youngsters

by bhagyta gupta

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Easy Access

Young people can easily become authorized users on parents' cards or get their own cards with targeted marketing.

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Lack of Knowledge

 Many young people don't fully understand credit card interest rates and fees, leading to overspending.

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Keeping Up with Trends

Social media and influencer culture can pressure young people to spend more than they can afford.

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College Costs

College students often rely on credit cards to cover expenses beyond tuition, like housing and living costs.

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Subscription Services

Streaming services, gaming platforms, and other subscriptions can add up and become hard to manage.

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Minimum Payments

Just paying the minimum amount due on a credit card keeps debt lingering and accumulating interest.

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Short-Term Thinking

Young people might prioritize instant gratification over long-term financial goals.

Predatory Practices

Some credit card companies target young people with aggressive marketing tactics.