Student credit cards and young credit

Younger borrowers closing delinquency gap


Younger people have higher expectations of missing a debt payment, survey finds, but they’re closing the gap

The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.

Younger people say their odds of missing a debt payment are dropping. But they still have the highest chance of going delinquent on their debt — much higher than people at retirement age, a new survey by the Federal Reserve Bank of New York shows.

The reserve bank’s Survey of Consumer Expectations asked people their odds of missing a minimum debt payment within the next three months. In October, people under 40 said the chances of going delinquent were about 16 percent, while the over-60 set gave their odds at just 6 percent.

However, the under-40 group wins the badge for having the most improved financial picture. Their expectations of missing a payment have fallen from about 20 percent since the survey began in 2013, a bigger drop than other groups. The monthly survey asks a panel of 1,200 people about their expectations for prices, jobs and household finances.

See related:ABA study: Card delinquency stays low

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

What’s up next?

In Student credit cards and young credit

Pint-sized super savers

Kids who prefer saving to spending are rare, and a parenting challenge

See more stories
Credit Card Rate Report Updated: August 5th, 2020
Cash Back

Questions or comments?

Contact us

Editorial corrections policies

Learn more

Join the Discussion

We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

The editorial content on is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company’s business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.