Credit Cards About 57% of first-year students reported having at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, 87% reported that they pay off their balance each month and, as such, their current credit card balance is zero; however, when asked what their current credit card balance is, just 36% said it is zero. Among those with an unpaid balance, the average credit card debt is $1,047. Table 47: Credit cards All students (n=18,092) Group University of Ottawa (n=1,477) 1 (n=6,335) 2 (n=6,712) 3 (n=5,045) Number of credit cards (FIN1) None 43% 53% 43% 36% 38% One 42% 35% 42% 48% 49% Two 6% 4% 6% 6% 7% Three or more 9% 9% 9% 9% 6% Regularly pay off balance each month* (FIN2) Yes 87% 83% 88% 87% 88% Total credit card balance* (FIN3) Zero 36% 34% 35% 38% 40% $500 or less 9% 9% 9% 9% 9% $501 to $1,000 3% 3% 2% 3% 3% Over $1,000 2% 2% 1% 2% 2% Don't know 51% 52% 53% 48% 46% Average (all with credit card) $196 $268 $158 $205 $221 Average (those with unpaid balance) $1,047 $1,450 $803 $1,041 $1,090 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.
Your Rights If You Are Dissatisfied With Your Credit Card Purchases If you are dissatisfied with the goods or services that you have purchased with your credit card, and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the purchase. To use this right, all of the following must be true:
