Young? New survey suggests you can forget about getting a loan.
According to their survey, more than one in five (22%) people between the ages of 18 and 34 say that they've been turned down for a mortgage, loan or credit card within the last 12 months. But the percentages start doubling once you get to be 35 years of age or more.
The 18 to 34 crowd are finding it hardest to get a credit card, according to this survey, in which 1,000 people were interviewed by telephone. Also difficult, in this order, have been securing a mortgage, home equity loan, car loan, student loans, mortgage refinance loans, small business loans and home improvement loans.
It's easy to figure out the problem, of course. We're in a rough economy, and credit is tight, and a lot of younger people don't have the credit history or income to reassure a lender that they can pay them back.
Still, I found this survey simply amazing. Not the statistics, necessarily, but the fact that they found 1,000 people to answer this survey. I mean, with caller-ID, does anyone answer their phone to a stranger any more?