Student credit cards A world to learn
The findings of its yearly survey of consumer credit card behaviors was just released by Consumer Reports. One shocking statistic from that report shows that about 12 million consumers are still in debt from holiday shopping from the previous year. The flood of accessible loans and credit of the previous ten years allowed consumers to easily be approved for credit cards and also enticed many to rack up balances. As a result of the crisis in the credit industry, banks are now more risk averse and are tightening the lending reins. Many consumers are turning to the use of credit cards, in the absence of once available loans and lines of credit.