• @OldWoodFrame@lemm.ee
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    1 year ago

    If you actually click through the links, it’s 53% have “added a credit product” where that credit product is a bank credit card. Says nothing about their debt increasing.

    So, 53% of a bunch of 20-somethings opened at least one credit card in a 3 year span when almost all commerce went online and the retail stores that remained stopped accepting cash.

    Maybe there’s concerning data out there but this isn’t it.

    • Ghostalmedia
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      161 year ago

      The bottom of that “study” is all you need to know about that study:

      To better understand how a student loan payment shock may impact a consumer wallet, lenders can leverage TruVision Premium Student Loan Attributes, TruVision Trended Usage Payment Ratio Algorithms and TruVision Trended Liquidity Algorithms.

      All that shit was basically just an ad to sell products to financial analysts. CNBC took the bait and advertised the products for them.

    • arquebus_x
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      111 year ago

      It’s not just 20-somethings. I’m 50 and still have $53k in student loan debt.

    • 0110010001100010
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      91 year ago

      Yeah I struggled to find anything in the article or linked citations that debt was added, only cards. There was a bit about mortgages and loans but I don’t know how that compares to normal YOY to know if it really means anything.