Sanyika Calloway Boyce, credit expert at financialfitnesscoach.com, says you should think twice before doing something that has the potential to negatively affect your credit rating. She says a negative credit history could impact a lot of other things in your life such as insurance and potential employment opportunities.
Some stats from the video
- 83% of college students have credit cards.
- 47% have 4 or more cards.
- $2,748 average total debt.
- 21% have between $3,000-$7,000 of credit card debt.
- 6% have more than $7,000 of credit card debt.
Source: Nellie Mae