topic Re: Millennials and credit card spend in Credit in the News

Millennials and credit card spend

Berk — Mon, 16 May 2016 13:24:41 GMT

Looks like Millennials as a whole are leaving a lot of rewards out there:

http://www.bizjournals.com/jacksonville/blog/morning-edition/2016/05/bank-studymillennials-spend-less-on-credit-could.html?ana=e_jac_rdup&s=newsletter&ed=2016-05-16&u=btlSPh8w8iXNM6B6XhDWdg05a3613f&t=1463404556&j=73227362

And, since my yearly CC spend is well North of $4,700.00 I am finally above average in something! My mother would be so proud.

Re: Millennials and credit card spend

Anonymous — Mon, 16 May 2016 14:53:56 GMT

Wow average is only $4700 a year. It's only May and I have already surpassed that by a good bit, and I don't even have high income.
I wonder what the average is here on the forum.

Re: Millennials and credit card spend

RonM21 — Mon, 16 May 2016 16:22:17 GMT

Willing to bet the average on here is higher than that. Maybe pushing 10k? I think it might not be higher being that there are a lot of people managing their utilization well....although that could be with very high credit lines lol...so who knows

Re: Millennials and credit card spend

Thomas_Thumb — Tue, 17 May 2016 23:58:29 GMT

Monthly spend vs monthly aggregate balance posted are likely radically different for many on MyFICO.

From a yearly spend perspective I'd guess $10k to $15k on average for those that frequent this forum and above $20k average on the credit card forum. There are some high rollers that hang over there.