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.

Continue Reading | No Comments | Twitter | |

March 10th, 2016

The 10 Cities Where Young Adults Have the Lowest On-Time Payment Percentage

Credit Fumble - Ontime Payments LOWEST

In Credit Karma’s recent Credit Fumble research, almost half of all people surveyed (47 percent) said that they had missed one or more payments on a credit card or loan before they entered their 30s. Missing payments have a myriad of potentially negative run on effects: you can incur a missed payment fee, your interest rates might rise, and it could end up on your credit report and potentially cause your credit score to fall. Banks and issuers consider how reliable you were in the past in paying your debts as an indicator in how reliable you will be repaying future debts.

Continue Reading | No Comments | Twitter | |

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.

Continue Reading | No Comments | Twitter | |

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.

Continue Reading | 19 Comments | Twitter | |

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.

Continue Reading | 13 Comments | Twitter | |

December 17th, 2015

The 10 Most Expensive Cities For Millennials To Own a Car

map

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.

Continue Reading | 19 Comments | Twitter | |

November 5th, 2015

The 10 Most Affordable Cities For Millennials to Buy a Home

usmapv2

Owning a home is a hallmark of American life. People often chase the ideal of having a house, a vehicle and a grill they can use during cookouts with friendly neighbors. There’s just one problem, according to Zillow home prices have been rising steadily since 2012, with many buyers also held back by stricter lending standards in the market since the housing crash in 2007.

Continue Reading | 10 Comments | Twitter | |

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.

Continue Reading | 2 Comments | Twitter | |

October 5th, 2015

5 Realities About Student Debt Presidential Candidates Are Ignoring

As the election campaign heats up on each side of the aisle, student loans have become a central issue. In 2003, Americans held over $250 billion in student debt. Today, it's almost $1.3 trillion. According to MarketWatch, student loan debt in America is increasing by over $3,000 every second.

Continue Reading | 4 Comments | Twitter | |

August 28th, 2015

15 US Cities With The Highest Amount of Student Loans

It’s hard to afford college without student loans. According to the Institute for College Access & Success, 69 percent of graduates from public and nonprofit colleges had student loan debt.

Continue Reading | 2 Comments | Twitter | |

Advertiser Disclosure: The offers that appear on this site are from third party advertisers from which Credit Karma receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). It is this compensation that enables Credit Karma to provide you with services like free access to your credit scores and free monitoring of your credit and financial accounts at no charge. Credit Karma strives to provide a wide array of offers for our members, but our offers do not represent all financial services companies or products.

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.

Archives

Categories