Holding onto a student credit card almost two years after graduating from college is starting to feel like I’m holding onto a security blanket so I think it’s time I graduate to a mature credit card. According to my issuer, I have a few options:
Guess who’s less likely to seriously default on a credit card: A 44-year-old who has been handling credit since before Ronald Reagan left office? Or a 19-year-old college student who wasn’t even born until well into the Clinton administration?
Surprisingly, it’s the college-age student, says a new study, calling into question the wisdom of the Credit CARD Act of 2009’s restrictions on granting cards to the younger crowd.