Showing posts with label Forbes. Show all posts
Showing posts with label Forbes. Show all posts
Tuesday, January 11, 2022
Saturday, June 18, 2016
Forbes: Federal Reserve: American Credit Card Debt Could Hit $1 Trillion this Year
by Sy Mukherjee, Jun. 13, 2016, Forbes.com
Or, you know, don’t.
A strong majority of millennials continues to shun credit cards, according to a new survey.
A Bankrate study released Monday finds that 67% of millennials don’t have credit cards. It’s the only adult demographic group where credit card ownership is that low—55% and 62% of 30-to-49 year olds and 50-64-year olds, respectively, have them, while ownership among American 65 and older is even higher.
The survey also highlights several other distinct socioeconomic trends when it comes to credit cards. For instance, nearly three-quarters of poor American how make less than $30,000 per year don’t have them while 81% of those who make more than $75,000 do. There are similar disparities between high school diploma holders and college graduates.
More: www.fortune.com
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