2019 College Banking Credit Cards Survey
2:56 AMPosted by: John S Kiernan
A lot of people probably assume that giving credit cards to college kids is a recipe for trouble, and many students are no doubt among them. But if you ask a diverse sample of college students about their understanding and usage of credit cards, as WalletHub did, the results may just surprise you – in a good, reassuring way.
WalletHub conducted a nationally representative survey of college students, asking about everything from how they’d grade their financial know-how to which spending categories they most want bonus credit card rewards for. You can check out the results in the following infographic.
| What types of purchases do you want to earn the most rewards on? | |
|---|---|
| Groceries | 45% |
| Travel | 18% |
| Dining | 17% |
| School supplies | 9% |
| Entertainment | 9% |
| Alcohol | 2% |
| Would your parents approve of your credit card purchases? | |
| Yes | 86% |
| No | 14% |
| Would your friends make fun of your credit card transactions? | |
| No | 81% |
| Yes | 19% |
| Do you spend more, less or the same amount as the average student? | |
| Average | 51% |
| Less | 25% |
| More | 24% |
| Do your parents help pay your credit card bills? | |
| No | 65% |
| Yes | 35% |
| Would you show your significant other a detailed list of your credit card transactions? | |
| Yes | 88% |
| No | 12% |
| What grade would you give your personal finances? | |
| B | 43% |
| A | 26% |
| C | 22% |
| D | 6% |
| F | 3% |
| What grade would you give your knowledge of credit cards? | |
| B | 38% |
| C | 30% |
| A | 23% |
| D | 8% |
| F | 1% |
| Are credit cards free money? | |
| No | 86% |
| Yes | 14% |
| Would you rather miss a credit card payment or miss a party? | |
| Party | 86% |
| Payment | 14% |
| Do students need a bank account? | |
| Yes | 95% |
| No | 5% |
| Are banks more pro-student or anti-student? | |
| Pro-student | 56% |
| Anti-student | 44% |
| Do you consider yourself a spender or a saver? | |
| Saver | 60% |
| Spender | 40% |
| How good are your grades? | |
| Good | 69% |
| Average | 28% |
| Bad | 3% |
Note: Percentages may not total 100% due to rounding.
from Wallet HubWallet Hub
via Finance Xpress
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