Common use of Credit Cards Clause in Contracts

Credit Cards. About 60% of first-year students reported they have at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 88% reported 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 7% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students. None 40% 42% 45% 32% 49% One 45% 42% 42% 50% 36% Two 7% 6% 6% 8% 6% Three or more 8% 10% 7% 9% 9% Average number 1.8 2.8 1.2 2.2 1.4 Yes 88% 83% 88% 89% 81% Zero 7% 2% 14% 2% 9% $500 or less 83% 83% 79% 87% 75% $501 to $1,000 5% 7% 4% 6% 4% Over $1,000 5% 8% 4% 6% 11% Average (all with credit card) $487 $652 $352 $564 $459 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $1,814 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 6057% of first-year students reported they have having at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 8887% 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 736% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students1,047. None 4043% 53% 43% 36% 57% One 42% 35% 42% 4548% 32% 49% One 45% 42% 42% 50% 3633% Two 76% 4% 6% 6% 8% 62% Three or more 8% 10% 79% 9% 9% Average number 1.8 2.8 1.2 2.2 1.4 9% 8% Yes 8887% 83% 88% 8987% 8188% Zero 736% 234% 1435% 238% 932% $500 or less 839% 839% 799% 879% 755% $501 to $1,000 53% 73% 42% 63% 41% Over $1,000 52% 82% 41% 62% 111% Don't know 51% 52% 53% 48% 60% Average (all with credit card) $487 196 $652 268 $352 158 $564 205 $459 154 Average (those with unpaid balance) $1,549 1,047 $1,954 1,450 $1,249 803 $1,648 1,041 $1,814 652 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 60% of first-year students reported they have at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 88% reported 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 7% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students. None 40% 42% 45% 32% 4946% One 45% 42% 42% 50% 3641% Two 7% 6% 6% 8% 68% Three or more 8% 10% 7% 9% 96% Average number 1.8 2.8 1.2 2.2 1.4 .8 Yes 88% 83% 88% 89% 8191% Zero 7% 2% 14% 2% 95% $500 or less 83% 83% 79% 87% 7588% $501 to $1,000 5% 7% 4% 6% 45% Over $1,000 5% 8% 4% 6% 112% Average (all with credit card) $487 $652 $352 $564 $459 176 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $1,814 1,174 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 60% of first-year students reported they have at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 88% reported 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 7% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students. None 40% 42% 45% 32% 4940% One 45% 42% 42% 50% 3647% Two 7% 6% 6% 8% 67% Three or more 8% 10% 7% 9% 95% Average number 1.8 2.8 1.2 2.2 1.4 Yes 88% 83% 88% 89% 8191% Zero 7% 2% 14% 2% 94% $500 or less 83% 83% 79% 87% 7588% $501 to $1,000 5% 7% 4% 6% 46% Over $1,000 5% 8% 4% 6% 112% Average (all with credit card) $487 $652 $352 $564 $459 249 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $1,814 1,663 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 6057% of first-year students reported they have having at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 8887% 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 736% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students1,047. None 4043% 53% 43% 36% 38% One 42% 35% 42% 45% 3248% 49% One 45Two 6% 42% 42% 50% 36% Two 74% 6% 6% 8% 67% Three or more 8% 10% 79% 9% 9% Average number 1.8 2.8 1.2 2.2 1.4 9% 6% Yes 8887% 83% 88% 8987% 8188% Zero 736% 234% 1435% 238% 940% $500 or less 839% 839% 799% 879% 759% $501 to $1,000 53% 73% 42% 63% 43% Over $1,000 52% 82% 41% 62% 112% Don't know 51% 52% 53% 48% 46% Average (all with credit card) $487 196 $652 268 $352 158 $564 205 $459 221 Average (those with unpaid balance) $1,549 1,047 $1,954 1,450 $1,249 803 $1,648 1,041 $1,814 1,090 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 60% of first-year students reported they have at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 88% reported 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 7% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students. None 40% 42% 45% 32% 4942% One 45% 42% 42% 50% 3647% Two 7% 6% 6% 8% 65% Three or more 8% 10% 7% 9% 97% Average number 1.8 2.8 1.2 2.2 1.4 Yes 88% 83% 88% 89% 8188% Zero 7% 2% 14% 2% 97% $500 or less 83% 83% 79% 87% 7579% $501 to $1,000 5% 7% 4% 6% 46% Over $1,000 5% 8% 4% 6% 117% Average (all with credit card) $487 $652 $352 $564 $459 2,208 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $1,814 4,801 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 60% of first-year students reported they have at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 88% reported 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 7% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students. None 40% 42% 45% 32% 4943% One 45% 42% 42% 50% 3645% Two 7% 6% 6% 8% 63% Three or more 8% 10% 7% 9% 9% Average number 1.8 2.8 1.2 2.2 1.4 1.2 Yes 88% 83% 88% 89% 8180% Zero 7% 2% 14% 2% 9% - $500 or less 83% 83% 79% 87% 7582% $501 to $1,000 5% 7% 4% 6% 49% Over $1,000 5% 8% 4% 6% 119% Average (all with credit card) $487 $652 $352 $564 $459 385 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $1,814 974 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 6093% of first-year graduating students reported report they have at least one credit card, although just 15including 29% who say they have two or more cardsmore. Among those students who have credit cards, about 8879% reported report 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 737% said say it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students2,771. None 40% 42% 45% 32% 49% One 45% 42% 42% 50% 36% Two 7% 6% 6% 8% 67% 7% 8% One 64% 65% 62% 66% 64% Two 21% 19% 22% 20% 21% Three or more 8% 107% 8% 7% 97% 9Yes 79% Average number 1.8 2.8 1.2 2.2 1.4 Yes 88% 83% 88% 8970% 81% 80% 69% Zero 737% 234% 1437% 238% 935% $500 or less 8314% 8314% 7913% 8714% 7515% $501 to $1,000 56% 6% 6% 7% 4% 6% 4% Over $1,000 510% 14% 8% 410% 614% 11Don't know 33% 32% 36% 31% 31% Average (all those with credit card) $487 792 $652 1,176 $352 655 $564 753 $459 1,408 Average (those with unpaid balance) $1,549 2,771 $1,954 3,366 $1,249 2,395 $1,648 2,745 $1,814 4,601 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 60% of first-year students reported they have at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 88% reported 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 7% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students. None 40% 42% 45% 32% 4956% One 45% 42% 42% 50% 3631% Two 7% 6% 6% 8% 64% Three or more 8% 10% 7% 9% 98% Average number 1.8 2.8 1.2 2.2 1.4 1.7 Yes 88% 83% 88% 89% 8189% Zero 7% 2% 14% 2% 9% - $500 or less 83% 83% 79% 87% 7594% $501 to $1,000 5% 7% 4% 6% 42% Over $1,000 5% 8% 4% 6% 115% Average (all with credit card) $487 $652 $352 $564 $459 161 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $1,814 681 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 6093% of first-year graduating students reported report they have at least one credit card, although just 15including 29% who say they have two or more cardsmore. Among those students who have credit cards, about 8879% reported report 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 737% said say it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students2,771. None 407% 428% 457% 32% 49% One 45% 42% 42% 50% 36% Two 7% 6% 6One 64% 865% 662% 66% 66% Two 21% 19% 22% 20% 22% Three or more 8% 107% 8% 7% 96% 9Yes 79% Average number 1.8 2.8 1.2 2.2 1.4 Yes 88% 83% 88% 8970% 81% 80% 78% Zero 737% 234% 1437% 238% 938% $500 or less 8314% 8314% 7913% 8714% 7512% $501 to $1,000 56% 6% 6% 7% 4% 6% 47% Over $1,000 510% 14% 8% 4% 610% 11% Don't know 33% 32% 36% 31% 32% Average (all those with credit card) $487 792 $652 1,176 $352 655 $564 753 $459 899 Average (those with unpaid balance) $1,549 2,771 $1,954 3,366 $1,249 2,395 $1,648 2,745 $1,814 3,089 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 6057% of first-year students reported they have having at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 8887% 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 736% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students1,047. None 4043% 53% 43% 36% 47% One 42% 35% 42% 4548% 32% 49% One 45% 42% 42% 50% 3639% Two 76% 4% 6% 6% 8% 6% Three or more 8% 10% 79% 9% 9% Average number 1.8 2.8 1.2 2.2 1.4 9% 9% Yes 8887% 83% 88% 8987% 81% Zero 736% 234% 1435% 238% 933% $500 or less 839% 839% 799% 879% 7510% $501 to $1,000 53% 73% 42% 63% 4% Over $1,000 52% 82% 41% 62% 113% Don't know 51% 52% 53% 48% 49% Average (all with credit card) $487 196 $652 268 $352 158 $564 205 $459 236 Average (those with unpaid balance) $1,549 1,047 $1,954 1,450 $1,249 803 $1,648 1,041 $1,814 895 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 60% of first-year students reported they have at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 88% reported 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 7% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students. None 40% 42% 45% 32% 4922% One 45% 42% 42% 50% 3653% Two 7% 6% 6% 8% 612% Three or more 8% 10% 7% 9% 914% Average number 1.8 2.8 1.2 2.2 1.4 3.6 Yes 88% 83% 88% 89% 8190% Zero 7% 2% 14% 2% 94% $500 or less 83% 83% 79% 87% 7585% $501 to $1,000 5% 7% 4% 6% 45% Over $1,000 5% 8% 4% 6% 117% Average (all with credit card) $487 $652 $352 $564 $459 471 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $1,814 1,871 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 60% of first-year students reported they have at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 88% reported 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 7% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students. None 40% 42% 45% 32% 4931% One 45% 42% 42% 50% 3652% Two 7% 6% 6% 8% 65% Three or more 8% 10% 7% 9% 912% Average number 1.8 2.8 1.2 2.2 1.4 2.1 Yes 88% 83% 88% 89% 8191% Zero 7% 2% 14% 2% 96% $500 or less 83% 83% 79% 87% 7584% $501 to $1,000 5% 7% 4% 6% 46% Over $1,000 5% 8% 4% 6% 114% Average (all with credit card) $487 $652 $352 $564 $459 238 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $1,814 1,403 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 6057% of first-year students reported they have having at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 8887% 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 736% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students1,047. None 4043% 53% 43% 36% 39% One 42% 35% 42% 4548% 32% 49% One 45% 42% 42% 50% 3648% Two 76% 4% 6% 6% 8% 62% Three or more 8% 10% 79% 9% 9% Average number 1.8 2.8 1.2 2.2 1.4 9% 11% Yes 8887% 83% 88% 8987% 8187% Zero 736% 234% 1435% 238% 939% $500 or less 839% 839% 799% 879% 7514% $501 to $1,000 53% 73% 42% 63% 43% Over $1,000 52% 82% 41% 62% 11<1% Don't know 51% 52% 53% 48% 44% Average (all with credit card) $487 196 $652 268 $352 158 $564 205 $459 99 Average (those with unpaid balance) $1,549 1,047 $1,954 1,450 $1,249 803 $1,648 1,041 $1,814 767 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 6093% of first-year graduating students reported report they have at least one credit card, although just 15including 29% who say they have two or more cardsmore. Among those students who have credit cards, about 8879% reported report 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 737% said say it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students2,771. None 40% 42% 45% 32% 49% One 45% 42% 42% 50% 36% Two 7% 6% 6% 8% 67% 7% 4% One 64% 65% 62% 66% 65% Two 21% 19% 22% 20% 24% Three or more 8% 107% 8% 7% 98% 9Yes 79% Average number 1.8 2.8 1.2 2.2 1.4 Yes 88% 83% 88% 8970% 81% 80% 77% Zero 737% 234% 1437% 238% 939% $500 or less 8314% 8314% 7913% 8714% 7512% $501 to $1,000 56% 6% 6% 7% 4% 6% 45% Over $1,000 510% 14% 8% 410% 610% 11Don't know 33% 32% 36% 31% 34% Average (all those with credit card) $487 792 $652 1,176 $352 655 $564 753 $459 639 Average (those with unpaid balance) $1,549 2,771 $1,954 3,366 $1,249 2,395 $1,648 2,745 $1,814 2,334 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.