Consumer Payment Card News

Credit-Readiness

A new survey has found that 63% of parents surveyed say they are “concerned” or “very concerned” about their 18-24 year-old children’s ability to manage debt. Interestingly, 54% of young adults in this age range also say they are “concerned” or “very concerned” about their own debt management abilities. TransUnion’s TrueCredit.com recently commissioned Zoomerang to survey two distinct groups of consumers about the age-group’s debt management skills. Among the parents surveyed, some of the common concerns expressed include: children expecting too much too soon (“need to learn about responsibility and not have an entitlement mentality”) and the future implications of their credit management (“concerned about their ability to maintain a good rating for buying a home”). In addition to credit reports and a host of tools designed to help credit-active adults manage their credit health, the special student website “http://www.students.truecredit.com”:http://www.students.truecredit.com features a free learning center that parents can utilize as a resource in their educational efforts.

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