Economy

Young People Actually More Responsible with Credit Cards, According to ASU Research



You know what's worse than a 19-year-old with a credit card? A 40-year-old with a credit card.

Despite the common belief that young people are the absolute worst when it comes to credit card use, a study from the W. P. Carey School of Business at Arizona State University and the Federal Reserve Bank of Richmond shows that people between the ages of 18 and 25 are among the least likely credit card users to have a "serious default."