- New Pi, Backpocket Announce New Brew
- Injuries Reported in Train Derailment
- Branstad Unveils Higher Education Goals
- Violent Acts Rattle Community
- Pumpkins Plentiful Despite Rain
- Arietta Takes Jab at Pirates
- Fourth IC School Blue Zone Certified
- ROAD TRIPPIN': Decorah's Mainstreet
- Fmr ISU Basketball Player Turns Himself in
- DBQ Death Investigation
- Your Solution To Mass Shootings
- Vets THRIVE Needs Sponsors, Volunteers
- UAW Ratifies Agreement with Deere
- Broncos Slip Past Vikings
- Four-Year-Old Killed in ATV Crash
- Branstad's Anti-Bullying Office Raises Questions
- Downtown DM YMCA Goes Down
- Mammoth Recovered in Michigan
- More Crops But Lower Prices
- New Details Released in Oregon Shooting
- Get Out the Vote Event for CR Public Library
- Especially for You Race Sunday
- Clinton Wins Big Labor Union Endorsement
- Search Continues For Ship in Hurricane
- Eastern Iowa OT Scores
- Quick Response From Hospital After Crash
- Obama: Tally Shootings vs. Terrorist Attacks
- Hurricane Joaquin as seen from Space
- College Shooting Victims Identified
- UPDATE: Three Arrested in CR Chase
- Youth Police Academy for CR Students
- CR Store Treasures the Trash
- OR Shooter's Weapons Bought Legally
- Fire Strikes Two Fairfax Homes
- Spates Imprisoned for Girl's Death
- U.S. Hiring Slows
- Vatican Distances Pope From Kim Davis
- London Looking for NFL Team
- Calls for Beer Band to Clean Up
- Escaped Boa Costs Owner
- Most Mumps Cases in IA at UI
- School Bus Involved in Crash
- "No Quick Fix" for Criminal Justice System
- One Month To JoCo Wage Increase
- Kasich: Focused on Iowa
- Kasich: A Different Voice in 2016
- CBJ Report: October 1st
- 10 Dead in Oregon Comm. College Shooting
- Robillard Speaks On State Of UI
- Experts Support Secret Juvy Records
Young Adults Not Buying on Credit
Updated: Friday, June 21 2013, 08:32 PM CDT
CEDAR RAPIDS, IA (CBS2/FOX28) – 20 to 30-year-olds to day might be different from their parents’ generation in that fewer of them have credit cards, but that does not mean it is a bad thing.
“They’re seeing the repercussions that previous generations and their parents and even friends and relatives have had with credit card problems,” said Homeland Credit Restoration’s Christian Clarke.
“I like just taking out of my account so I don’t have to worry about late fees or anything like that,” said 18-year-old Elijah Krephle, who does not use any credit cards.
Younger generations have replaced the credit card with debit cards, or just cash. Starting a credit line might be right for some.
“I got credit cards to help build my credit,” said 22-year-old Alex Buchheit, who has three credit cards. “Obviously you have to be responsible while using it. Can’t be dumb about it.”
The simple pieces of plastic can be pretty dangerous in the hands of someone who does not understand how their credit card bill works. Especially in a mall, where there is no shortage of places to spend money.
“I know I’m a crazy shopper and if I had one I would max it out and be in a lot of trouble,” said 22-year-old Ally Covington.
Clarke says the problem is not having any credit card means that there is a big portion of your credit score that’s not accounted for. That could make a single late payment hurt your score more. Sometimes, it’s still the lesser evil.
“It’s worse to have a credit card and misuse it than not have one at all,” said Clarke.
If you’re going to get a credit card, do the homework and know how your purchases will help, or hurt.