August 10th, 2016

Student Loans Keeping Almost 70% of Their Debtors Up at Night; Still, Majority Say Education was Good Investment

A record high $1.2 trillion in student loan debt nationally has been blamed for everything from slowing the housing recovery to limiting the number of business startups. A new survey by Credit Karma finds that while student loans are having some impact on romantic relationships, and even keeping people up at night, most people felt that the return on their academic investment would eventually pay off.

 

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July 6th, 2016

Where Does Your City Rank on the Regional Mortgage Debt Map?

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Credit Karma examined the average mortgage debt from our 60 million members to determine the cities in each region that carry the greatest and smallest debt burden for owning the title to home sweet home. Mortgage size and affordability can depend on a number of factors, including size of down payment, interest rate, how much principal has been paid off, income opportunities and living expenses. They are, however an indication of what prospective homeowners can expect from the market. Here is what we found.

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March 31st, 2016

The 10 Cities Where Young Adults Have the Highest Credit Card Utilization Rate

Credit Fumble - Highest Credit Utilization Cities

Your credit card utilization rate – your collective credit card balance divided by your collective credit card limit – is an important factor used by most credit scoring models to calculate your score. Generally, lenders see that if you’re using a greater amount of available limit, there is an indicator of a greater risk of not being able to pay your debts. In general, a credit card utilization rate of less than 30 percent is recommended.

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February 26th, 2016

Top 10 Cities Where Young Adults Have the Most Amount of Student Debt

02-2016 Credit Fumble - Student Debt MOST

Student debt is fast becoming a fact of life for Americans: research has estimated that by 2020 as many as two-thirds of jobs require post-high school education or training, tuition continues to rise in all sectors of the education market, and students are taking on debt at an alarming rate. Student debt has more than doubled in the last 10 years and, according to MarketWatch, it grows by $2,726 each second in America.

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February 3rd, 2016

The 10 Cities Where 18-24 Year Olds Have the Most Accounts in Collection

Missing a utilities bill or credit card payment happens more than we’d like to admit. Letters requesting payment can be tossed in the recycling bin, caller ID can make it easy to avoid phone calls, but the debt does not disappear. After a few months it may be sent on, or sold, to a collections agency for payment, leaving a derogatory mark on a credit report that may stay there for seven years or longer.

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January 21st, 2016

The Credit Fumble™: More Than Two-Thirds of Young Adults Make Significant Financial Mistakes

Credit Fumble

At Credit Karma, we define a “Credit Fumble” as being the phenomenon where young adults, new to credit and many without any financial education, make largely avoidable financial mistakes. When we finished our recent research into this pattern, even we were surprised to find out that more than two-thirds of young adults we surveyed experienced at least one Credit Fumble before they turned 30.

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December 17th, 2015

The 10 Most Expensive Cities For Millennials To Own a Car

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A recent University of Michigan study showed that car ownership was declining in America, but with over 90 percent of households still owning a vehicle, it clearly still plays a major role in most people’s daily lives.

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December 3rd, 2015

The 10 Cities With The Most Responsible Millennial Spenders

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There’s a prevailing cliche that exists about Millennials: they’re prone to living beyond their means, credit-illiterate and slightly irresponsible, enjoying the spend-now, consequences-later era of their early youth.

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October 22nd, 2015

The Spirit is Still Willing: Millennial Attitudes to Home Buying in 2015

It’s a well hashed-out narrative in the media today, which deepens with every new home sales report: the average age of first-time homebuyers is rising as Millennials face several obstacles in their path to home ownership.

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October 14th, 2015

Credit Karma’s “My Money Story” series continues!

A lot of people are embarrassed to talk about their finances. At Credit Karma we want to change that. In August, we launched a new video series, “My Money Stories,” featuring real people talking about their journeys with finances, credit and debt. We’ve been posting new stories on YouTube across the last two months and wanted to update you on this new content.

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Editorial Disclaimer: Content on the Credit Karma Blog is for entertainment and information purposes only. The opinions expressed on the blog are those of the authors themselves, and not necessarily Credit Karma or its affiliates. However, Credit Karma may be compensated by companies mentioned in the Credit Karma Blog through advertising, affiliate programs or otherwise. It is this compensation that enables Credit Karma to provide its members with services like free access to your credit scores and free monitoring of credit and financial accounts at no charge.

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