Two-thirds of college students have a credit card, and most are using their cards regularly, according to data from Equifax
The editorial content below is based solely on the objective assessment of our writers and is not driven by advertising dollars. However, we may receive compensation when you click on links to products from our partners. Learn more about our advertising policy.
The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Please see the bank’s website for the most current version of card offers; and please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.
Two out of three college students have at least one credit card, and a vast majority use their cards regularly, according to newdata from Equifax.
The credit rating agency reports that 42 percent of college students age 18-24 have one credit card, with an additional 26 percent owning two or more cards, totalling a 68 percent saturation among the college crowd.
Equifax’s survey data also revealed that only 1 out of 6 college students (16 percent) are reserving their credit card only for [emergencies. On the other end of the spectrum, 12 percent are charging virtually all of their purchases.
In the middle ground, 30 percent are putting their cards to use for a majority of their purchases, with the largest response category being 42 percent who indicated they primarily charge minor purchases to their cards.
Equifax’s findings were drawn from a blind survey of 600 college students age 18-24 conducted in June 2016. The results were released Aug. 24.
To use the graphic on your site, use the following code: