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Datapoints on college credit card usage

 

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College Credit Card Statistics

Information and data on National average charge-off rates, UCMS Charge off average, Average balance owed on credit cards, Students who pay 100% of their bill and have zero balance, Percentage of students without a credit card and more are below

National average charge-off rates:
5.8% of receivables
UCMS Charge off average:
2.18% of receivables
Average balance owed on credit cards:
$885
Students who pay 100% of their bill and have zero balance:
55%
Percentage of students without a credit card:
17%
Percentage of students with their parents' card:
45%
Percentage of students that keep their first credit card
70+%
Number of students enrolled at four-year colleges:
9,900,000
Average number of cards per student:
2.8
Number of issuers that sell cards to students:
13 of 15
Number of card solicitations students receive:
25 to 50 per semester
Drop out rate due to debt / financial pressure
8.5%
Drop out rate due to academic failure
6%
Percentage of students that sign up via the Internet 18
Percentage of students that sign up via Direct mail 42
Percentage of students that sign up via Tabling campaign 14
Percentage of students that sign up via Telemarket 9
Percentage of students that sign up via SMS 5
Percentage of students that sign up via Kiosk 7
Percentage of students that sign up via a Personal Referral 39

Percentage of students that refuse to sign up for a card in their own name

37

*Percentages don't add to 100 because some sign up through multiple channels *
Number of Four Year schools in America 2000
College affinity programs that monetize student base by inking an affinity program 4700 (some schools have more than one)
   
Colleges banning credit card marketing 1280

 

 

 

 

 

 

 

 

 

 

 

   

  Creative Commons License
You may use this data by linking to http://www.UCMS.com AND citing "UCMS" or "United College Marketing Services" as the source.


Statistics are updated as of Fall 2006.

Common usage trends for "Student Use of Credit Cards":
       Please contact 'United College Marketing Services' if you need further explanations of these numbers.

Jennifer Homan
jhoman (at) ucms dot com
2021 Midwest Road, Third Floor
Oak Brook IL 60521

Have us link to your article / blog / media article by emailing "media at UCMS dot com"

 


UCMS is working on China Debit Reporting Agency Data and the formation of Debit Reporting Analysis
and track China's growing credit underwriting challenges

 

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