In this article we are going to look most specifically at credit cards statistics for college students.  In general you will discover that the credit card statistics around the world are definitely different.  In the US there are more than 5 billion individuals in debt with credit card companies.  There are over 40 million individuals that have credit cards.  The UK is one of the largest countries with credit cards and credit card debt.  They have such high numbers the companies are beginning to take away some of the offerings with credit cards like the introductory rates.  They are also closing a lot of credit card accounts to help make it more feasible for the company to make money.  They are closing high risk cards or cards that have not been used in a year.  Other parts of the world are soon going to be in the same statistical place as the US and UK.  This is because more and more credit card companies are trying to move into Europe, Asia, Middle East, and South America.

Now that we have looked at a few statistics for all credit cards and know that the UK has one of the highest debts for credit cards let’s look at some colleges.

The national average for the charge off rates is 5.8% of receivables regarding college student credit cards.  The charge off rate is the rate at which the college students need to have their debts taken care of.  This means they have incurred such a high debt on their cards they are not able to pay the debt, and have asked the companies to offer a deal in which they can just make the debt go away.

UCMS has a rate average of 2.18% in the charge offs for the receivables.  This rate as you can see is lower than the national average, but still rather high, meaning they have a lot of students that find they are not able to handle the debt.

For college student credit cards the average balance owed is 885 dollars.  This average compared to most adults is very low, but that is usually because the credit limits for the college student cards are lower than those of the adults.  In other words most can only get cards for 1000 to 1500 dollar credit limits and that is usually after having the card for a year or two.  Next, students that pay a hundred percent of their bill and continue to have a zero balance is actually 55 percent.  This is a great statistical number.  Most adults who pay off their cards with a zero balance are in the 26 % to 40% range.

There are only 17% of college students without credit cards.  Most of the college students with credit cards have an account with their parent’s card that average is 45%.  It means they are additional card holders rather than having their own account.  As you can see there is a wide range of credit card statistics to go with the college students and these statistics are rather favorable.