Your kids like Credit cards too

Online Shopping - Laptop to Shopping Cart

Younger generations are widely thought to be averse to credit, but according to recent data from Experian, the tides might be changing.

Highlights:
1. Millennials (ages 23 – 38) carry an average credit card debt of $4,712, a 7% increase in the past year.
2. Generation Z (ages 18 – 22) carry an average credit card debt of $2,057, an 11% in the past year.

Both are still lower than the national average of $5,474, but quickly making up the deficit – increasing debt faster than other age groups.

More information and analysis coming soon at MikeaboutMoney.com

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