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. Table 47: Credit cards All students (n=14,886) Group University of Lethbridge (n=357) 1 (n=3,136) 2 (n=6,176) 3 (n=5,574) Number of credit cards None 40% 42% 45% 32% 42% One 45% 42% 42% 50% 47% Two 7% 6% 6% 8% 5% Three or more 8% 10% 7% 9% 7% Average number 1.8 2.8 1.2 2.2 1.4 Regularly pay off balance each month* Yes 88% 83% 88% 89% 88% Total credit card balance* Zero 7% 2% 14% 2% 7% $500 or less 83% 83% 79% 87% 79% $501 to $1,000 5% 7% 4% 6% 6% Over $1,000 5% 8% 4% 6% 7% Average (all with credit card) $487 $652 $352 $564 $2,208 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $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 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. Table 47: Credit cards All students (n=14,886n=18,092) Group University of Lethbridge Manitoba (n=357n=230) 1 (n=3,136n=6,335) 2 (n=6,176n=6,712) 3 (n=5,574n=5,045) Number of credit cards (FIN1) None 4043% 53% 43% 36% 39% One 42% 35% 42% 4548% 32% 42% One 45% 42% 42% 50% 4748% Two 76% 4% 6% 6% 8% 52% Three or more 8% 10% 79% 9% 79% Average number 1.8 2.8 1.2 2.2 1.4 9% 11% Regularly pay off balance each month* (FIN2) Yes 8887% 83% 88% 8987% 8887% Total credit card balance* (FIN3) Zero 736% 234% 1435% 238% 739% $500 or less 839% 839% 799% 879% 7914% $501 to $1,000 53% 73% 42% 63% 63% Over $1,000 52% 82% 41% 62% 7<1% Don't know 51% 52% 53% 48% 44% Average (all with credit card) $487 196 $652 268 $352 158 $564 205 $2,208 99 Average (those with unpaid balance) $1,549 1,047 $1,954 1,450 $1,249 803 $1,648 1,041 $4,801 767 * 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. Table 47: Credit cards All students (n=14,886n=14,760) Group University of Lethbridge Manitoba (n=357n=581) 1 (n=3,136n=3,531) 2 (n=6,176n=6,238) 3 (n=5,574n=4,991) Number of credit cards (FIN1) None 407% 428% 457% 32% 42% One 45% 42% 42% 50% 47% Two 7% 6% 6One 64% 865% 562% 66% 66% Two 21% 19% 22% 20% 22% Three or more 8% 107% 8% 7% 96% 7% Average number 1.8 2.8 1.2 2.2 1.4 Regularly pay off balance each month* (FIN2) Yes 8879% 8370% 8881% 8980% 8878% Total credit card balance* (FIN3) Zero 737% 234% 1437% 238% 738% $500 or less 8314% 8314% 7913% 8714% 7912% $501 to $1,000 5% 7% 46% 6% 6% 7% 7% Over $1,000 510% 14% 8% 410% 611% 7Don't know 33% 32% 36% 31% 32% Average (all those with credit card) $487 792 $652 1,176 $352 655 $564 753 $2,208 899 Average (those with unpaid balance) $1,549 2,771 $1,954 3,366 $1,249 2,395 $1,648 2,745 $4,801 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. Table 47: Credit cards All students (n=14,886n=18,092) Group University of Lethbridge Ottawa (n=357n=1,477) 1 (n=3,136n=6,335) 2 (n=6,176n=6,712) 3 (n=5,574n=5,045) Number of credit cards (FIN1) None 4043% 53% 43% 36% 38% One 42% 35% 42% 4548% 32% 42% One 45% 42% 42% 50% 4749% Two 76% 4% 6% 6% 8% 57% Three or more 8% 10% 79% 9% 79% Average number 1.8 2.8 1.2 2.2 1.4 9% 6% Regularly pay off balance each month* (FIN2) Yes 8887% 83% 88% 8987% 88% Total credit card balance* (FIN3) Zero 736% 234% 1435% 238% 740% $500 or less 839% 839% 799% 879% 799% $501 to $1,000 53% 73% 42% 63% 63% Over $1,000 52% 82% 41% 62% 72% Don't know 51% 52% 53% 48% 46% Average (all with credit card) $487 196 $652 268 $352 158 $564 205 $2,208 221 Average (those with unpaid balance) $1,549 1,047 $1,954 1,450 $1,249 803 $1,648 1,041 $4,801 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. Table 47: Credit cards All students (n=14,886) Group Xxxxxxx University of Lethbridge (n=357n=133) 1 (n=3,136) 2 (n=6,176) 3 (n=5,574) Number of credit cards None 40% 42% 45% 32% 4243% One 45% 42% 42% 50% 4745% Two 7% 6% 6% 8% 53% Three or more 8% 10% 7% 9% 79% Average number 1.8 2.8 1.2 2.2 1.4 1.2 Regularly pay off balance each month* Yes 88% 83% 88% 89% 8880% Total credit card balance* Zero 7% 2% 14% 2% 7% - $500 or less 83% 83% 79% 87% 7982% $501 to $1,000 5% 7% 4% 6% 69% Over $1,000 5% 8% 4% 6% 79% Average (all with credit card) $487 $652 $352 $564 $2,208 385 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $4,801 974 * 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. Table 47: Credit cards All students (n=14,886n=14,760) Group University of Lethbridge Winnipeg (n=357n=285) 1 (n=3,136n=3,531) 2 (n=6,176n=6,238) 3 (n=5,574n=4,991) Number of credit cards (FIN1) None 40% 42% 45% 32% 42% One 45% 42% 42% 50% 47% Two 7% 6% 6% 8% 57% 7% 8% One 64% 65% 62% 66% 64% Two 21% 19% 22% 20% 21% Three or more 8% 107% 8% 7% 9% 7% Average number 1.8 2.8 1.2 2.2 1.4 Regularly pay off balance each month* (FIN2) Yes 8879% 8370% 8881% 8980% 8869% Total credit card balance* (FIN3) Zero 737% 234% 1437% 238% 735% $500 or less 8314% 8314% 7913% 8714% 7915% $501 to $1,000 56% 6% 6% 7% 4% 6% 6% Over $1,000 510% 14% 8% 410% 614% 7Don't know 33% 32% 36% 31% 31% Average (all those with credit card) $487 792 $652 1,176 $352 655 $564 753 $2,208 1,408 Average (those with unpaid balance) $1,549 2,771 $1,954 3,366 $1,249 2,395 $1,648 2,745 $4,801 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. Table 47: Credit cards All students (n=14,886) Group Nipissing University of Lethbridge (n=357n=231) 1 (n=3,136) 2 (n=6,176) 3 (n=5,574) Number of credit cards None 40% 42% 45% 32% 4231% One 45% 42% 42% 50% 4752% Two 7% 6% 6% 8% 5% Three or more 8% 10% 7% 9% 712% Average number 1.8 2.8 1.2 2.2 1.4 2.1 Regularly pay off balance each month* Yes 88% 83% 88% 89% 8891% Total credit card balance* Zero 7% 2% 14% 2% 76% $500 or less 83% 83% 79% 87% 7984% $501 to $1,000 5% 7% 4% 6% 6% Over $1,000 5% 8% 4% 6% 74% Average (all with credit card) $487 $652 $352 $564 $2,208 238 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $4,801 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. Table 47: Credit cards All students (n=14,886n=18,092) Group University of Lethbridge Victoria (n=357n=378) 1 (n=3,136n=6,335) 2 (n=6,176n=6,712) 3 (n=5,574n=5,045) Number of credit cards (FIN1) None 4043% 53% 43% 36% 57% One 42% 35% 42% 4548% 32% 42% One 45% 42% 42% 50% 4733% Two 76% 4% 6% 6% 8% 52% Three or more 8% 10% 79% 9% 79% Average number 1.8 2.8 1.2 2.2 1.4 9% 8% Regularly pay off balance each month* (FIN2) Yes 8887% 83% 88% 8987% 88% Total credit card balance* (FIN3) Zero 736% 234% 1435% 238% 732% $500 or less 839% 839% 799% 879% 795% $501 to $1,000 53% 73% 42% 63% 61% Over $1,000 52% 82% 41% 62% 71% Don't know 51% 52% 53% 48% 60% Average (all with credit card) $487 196 $652 268 $352 158 $564 205 $2,208 154 Average (those with unpaid balance) $1,549 1,047 $1,954 1,450 $1,249 803 $1,648 1,041 $4,801 652 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

Credit Cards. About 6085% of firstmiddle-year years 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 8880% 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, is just 737% said say it is zero. Among those with an unpaid balance, balance the average credit card debt students have is $1,5492,959. Although differences in credit card use fall below the threshold for statistical significance, results indicate that Group 1 students tend to carry a higher balance on their credit cards are less likely than Group 2 and or Group 3 studentsstudents to regularly pay off their credit card debt and hold higher levels of credit card debt on average. Table 4721: Credit cards All students (n=14,886n=22,537) Group University of Lethbridge the Fraser Valley (n=357n=386) 1 (n=3,136n=7,117) 2 (n=6,176n=7,054) 3 (n=5,574n=8,366) Number of credit cards None 4015% 4213% 4516% 3214% 429% One 4557% 4254% 4256% 5059% 4760% Two 715% 615% 614% 815% 512% Three or more 814% 1018% 714% 912% 719% Average number 1.8 2.8 1.2 2.2 1.4 6.0 7.2 5.7 5.6 9.2 Regularly pay off balance each month* Yes 8880% 8373% 8879% 8985% 8879% Total credit card balance* Zero 737% 234% 1436% 239% 735% $500 or less 8341% 8336% 7944% 8742% 7939% $501 to $1,000 511% 711% 410% 611% 68% Over $1,000 512% 19% 10% 8% 4% 6% 718% Average (all with credit card) $487 932 $652 1,534 $352 695 $564 743 $2,208 925 Average (those with unpaid balance) $1,549 2,959 $1,954 4,740 $1,249 1,896 $1,648 2,109 $4,801 3,110 * 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. Table 47: Credit cards All students (n=14,886) Group Xxxxx University of Lethbridge (n=357n=542) 1 (n=3,136) 2 (n=6,176) 3 (n=5,574) Number of credit cards None 40% 42% 45% 32% 4246% One 45% 42% 42% 50% 4741% Two 7% 6% 6% 8% 58% Three or more 8% 10% 7% 9% 76% Average number 1.8 2.8 1.2 2.2 1.4 .8 Regularly pay off balance each month* Yes 88% 83% 88% 89% 8891% Total credit card balance* Zero 7% 2% 14% 2% 75% $500 or less 83% 83% 79% 87% 7988% $501 to $1,000 5% 7% 4% 6% 65% Over $1,000 5% 8% 4% 6% 72% Average (all with credit card) $487 $652 $352 $564 $2,208 176 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $4,801 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. Table 47: Credit cards All students (n=14,886) Group University of Lethbridge Winnipeg (n=357n=353) 1 (n=3,136) 2 (n=6,176) 3 (n=5,574) Number of credit cards None 40% 42% 45% 32% 4249% One 45% 42% 42% 50% 4736% Two 7% 6% 6% 8% 56% Three or more 8% 10% 7% 9% 79% Average number 1.8 2.8 1.2 2.2 1.4 Regularly pay off balance each month* Yes 88% 83% 88% 89% 8881% Total credit card balance* Zero 7% 2% 14% 2% 79% $500 or less 83% 83% 79% 87% 7975% $501 to $1,000 5% 7% 4% 6% 64% Over $1,000 5% 8% 4% 6% 711% Average (all with credit card) $487 $652 $352 $564 $2,208 459 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $4,801 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. Table 47: Credit cards All students (n=14,886n=18,092) Group University of Lethbridge Winnipeg (n=357n=494) 1 (n=3,136n=6,335) 2 (n=6,176n=6,712) 3 (n=5,574n=5,045) Number of credit cards (FIN1) None 4043% 53% 43% 36% 47% One 42% 35% 42% 4548% 32% 42% One 45% 42% 42% 50% 4739% Two 76% 4% 6% 6% 8% 56% Three or more 8% 10% 79% 9% 79% Average number 1.8 2.8 1.2 2.2 1.4 9% 9% Regularly pay off balance each month* (FIN2) Yes 8887% 83% 88% 8987% 8881% Total credit card balance* (FIN3) Zero 736% 234% 1435% 238% 733% $500 or less 839% 839% 799% 879% 7910% $501 to $1,000 53% 73% 2% 3% 4% 6% 6% Over $1,000 52% 82% 41% 62% 73% Don't know 51% 52% 53% 48% 49% Average (all with credit card) $487 196 $652 268 $352 158 $564 205 $2,208 236 Average (those with unpaid balance) $1,549 1,047 $1,954 1,450 $1,249 803 $1,648 1,041 $4,801 895 * 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. Table 47: Credit cards All students (n=14,886) Group McMaster University of Lethbridge (n=357n=675) 1 (n=3,136) 2 (n=6,176) 3 (n=5,574) Number of credit cards None 40% 42% 45% 32% 4240% One 45% 42% 42% 50% 47% Two 7% 6% 6% 8% 57% Three or more 8% 10% 7% 9% 75% Average number 1.8 2.8 1.2 2.2 1.4 Regularly pay off balance each month* Yes 88% 83% 88% 89% 8891% Total credit card balance* Zero 7% 2% 14% 2% 74% $500 or less 83% 83% 79% 87% 7988% $501 to $1,000 5% 7% 4% 6% 6% Over $1,000 5% 8% 4% 6% 72% Average (all with credit card) $487 $652 $352 $564 $2,208 249 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $4,801 1,663 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.