Generation Z is adopting credit cards earlier and using them more aggressively than previous generations. But its use of credit cards more than other generations isn’t what’s raising alarm bells. Recent data shows that Gen Z has higher balances and delinquency rates than millennials had at the same age.
With high inflation and rising living costs, Gen Z’s early reliance on credit cards could become a long-term financial hurdle for those who don’t know how to manage credit responsibly.
