Why More Young Adults Use Credit Cards
January 5, 2023 ⚊ 1 Min read ⚊ Views 86 ⚊ BUSINESS
Why Young Adults Are Flocking to Credit Cards in Greater Numbers
Take a trip to any mall in America and you’ll see that many of the shoppers are young adults. This segment of shoppers likes to spend money, and often the money being spent isn’t even theirs.
According to a Bankrate survey from January of 2021, 50 percent of individuals ages 25 to 31 own at least one credit card. That survey also found that over a third of individuals ages 18 to 24 also have at least one credit card. These are all percentage increases, as in 2016, Bankrate found that just 33 percent of individuals ages 18 to 29 owned a credit card.
Tags: credit cards for young adults
