Discover the truth about Gen Z and credit cards

Some sources suggest that about half of Gen Zers have a credit card, while others indicate that they are less likely to have one than older generations. The reasons for this may include the following:

• Gen Zers are younger and have less income and credit history than older generations, making it harder for them to qualify for credit cards.

• Gen Zers are more cautious and responsible with their money, and they prefer to use debit cards, cash, or alternative payment methods, such as buy now, pay later.

• Gen Zers are more aware of the risks and costs of credit card debt, and they seek to avoid it or pay it off quickly.

• Gen Zers have different values and preferences when it comes to credit cards, and they look for cards that offer rewards, benefits, and features that suit their needs and lifestyles.

You can read more about Gen Z’s credit habits from these sources: CNBC.

https://www.fool.com/the-ascent/credit-cards/articles/youll-never-guess-how-few-gen-zers-have-credit-cards/                                                                 https://www.msn.com/en-us/money/personalfinance/gen-z-leans-on-credit-card-rewards/ar-AA1i3x                                                                        https://www.cnbc.com/select/gen-z-credit-habits/, Payments Divehttps://www.cnbc.com/select/gen-z-credit-habits/

tik4tat Research Team