Where did you learn how to handle credit cards? According to a new survey conducted by the website CreditCardsExplained.com, there's almost a 50% chance that you're self-taught.
The survey of 2,500 respondents showed that 45% of consumers never had a proper education on credit cards. Of those who received their credit card education in school, 22% were taught in high school, followed by 18% in college, and 8% in middle school.
Approximately 7% of consumers got their education on credit cards while filling out their application at the bank – a bit like learning how to drive just before you pull off the car lot and onto the freeway.
Just as driver's education is important to reduce the risk of an accident, credit card education is important to reduce the risk of a financial mishap. In both cases, learning the hard way can have lasting consequences.
How are we doing as consumers given the lack of formal education? Not bad, according to the survey...
from MoneyTips https://www.moneytips.com/nearly-1-in-2-say-they-have-never-been-taught-credit-cards/466
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