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Millennials and credit card spend

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Established Contributor

Millennials and credit card spend

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-les...

 

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.

Over $200,000 in credit across 12 cards.

FICO ranges from 791 -824 as of 07/26/2019
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Established Contributor

Re: Millennials and credit card spend

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.
Message 2 of 4
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Valued Contributor

Re: Millennials and credit card spend

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
                               

Total Credit: $240,100Credit Utilization: 1%AAoA: 5 years, 7 monthsInstallments: Car Lease, Marcus LoanNegatives: 0

LOWES-35k | BOA-32.5k | AMEX-30k | DISC-27.1k | ALLIANT-25k | NFCU-25k | BARC-15k | BBUY-12k | CHASE-10k | WAL-10k | CITI-9.7k | PENFED-9.7k


Message 3 of 4
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Senior Contributor

Re: Millennials and credit card spend

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.Smiley Wink

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
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