How Under-30s are Spoiling Their Credit Score

Even though having a credit card can be extremely handy, when the time comes that you have to pay for that big item or make a massive spend for something important, it’s often not the smartest move you could make.

The majority of people out there often overlook this fact – believe it or not. That convenient bit of plastic in your hand that allows you to spend, spend, spend is something that you will eventually have to pay back!

And the buck doesn’t stop there. Those shiny little credit cards can really affect your future negatively too if you’re not careful.


When it comes to your credit score, having a really good or bad score can be the difference between getting that all-important mortgage, that life-changing loan, or indeed, your next big break in your career. Did you know that the under-30s age-range are in fact the biggest culprits of being naive when it comes to their finances?

Quite shockingly, some new research released from Payday Boss, who offer small payday loans, showed us that actually 75% of the under-30 age group have no clue whatsoever what their credit score was at the time of getting that first credit card.

Are you financially savvy?

Which, isn’t surprising to many people that are financially savvy already. And another thing to note here is that a staggering one fifth of that age group will use their main credit card to pay for their next holiday.

So what are some of the repercussions of credit card spending? 20% of the people who amassed a debt on credit cards actually had to settle back in with their parents to enable them to clear their debts. So what can we all do to keep our finances in better order?

Let’s take a look at a few handy tips that are guaranteed to boost your credit rating:

  • Make sure you register to vote
  • Streamline your bank accounts by closing any that are inactive (keeping accounts that are dormant in your name can be bad for your credit rating)
  • Ensure that you check your real credit rating regularly
  • Always investigate fully into any tempting credit offer that you see. There’s usually a catch somewhere in there and you should find out what it is
  • Be aware that quite often, even small debts can become big problems! Wipe your small debts now and get in control of your life today
  • It’s definitely not just loans and credit cards alone that often contribute information towards your next credit report: energy, and broadband providers do too