Teenagers are susceptible to fall into credit card debt. Being impulsive buyers, they often can't control the urge to spend. Thus they slide into debt. Recent statistics reveal that almost 78% of college students have credit cards. Student loan maker Nellie Mae has uncovered even more startling facts - a student bears a balance of $3,200 and one among every 10 college students carries a balance of over $7,800. Not only that, the number of bankruptcy filers under 25 has gone up to over 5% from 1%.

These teen credit card debt statistics prove that more and more credit card companies are targeting teenage students. They tend to exploit the financial volatility of the school and college students. They become the easy target of credit card companies. American teenagers are nowadays more inclined to have credit cards. But that could prove fatal for them when paying off the expenses. Indiscriminate use of credit cards will lead them to nowhere. Thats why credit counselors always suggest that users be cautious while using credit cards. Most teenagers go on a spending spree being unaware of the consequences. They realize what they have done to their credit status by using credit cards recklessly only when they try to purchase home or car. The lending institutions always offer loans to those who enjoy a healthy credit status. Poor credit status is a hindrance to getting a loan or similar financial assistance.

Teen credit card debt statistics expose the fact that students are not capable of handling credit cards sensibly. That inability leads them to the world of debt. So, teenagers should consult credit counselors if they find themselves falling into debt. They should understand that credit cards come with some risk factors. They need to pay back the money on time if they want to maintain a favorable credit report.