Immediate gratification is the rule, not the exception. To make that easier, credit card companies target them with post-graduation plastic bearing their college colors or favorite hobby. We have yet to see a credit card commercial where the bill arrives. Early debt can get you in deep Simply put, never before has it been possible for so many to get so deeply into debt so early in life. Early debt is particularly crippling because it can seriously alter a young person's future, affecting their ability to obtain financing, find housing, save for retirement and even land a job.
Figures show that more and more young people are doing just that.
Blandin says the credit issue goes far deeper than young people are aware. A lot of companies will check everything about you before hiring you, and if they see that you have a poor credit history, they will consider you to have poor judgment and therefore not want you as an employee. You have to pay in a timely fashion. You may be tempted to pay on time when it's convenient, but most major creditors report monthly to the credit bureau, so they would show you to be delinquent every other month. When you go to rent an apartment, get a loan, lease a car or even get a job today, you may lose out because of a poor credit history.