Do young adults want credit cards? Debt aversion

The most scrutinized generation in history may be the millennials. Many theories suggest that millennials are ruining everything from cereal to diamonds.

According to conventional belief, millennials aren't very interested in credit cards either. But is it actually the case?

According to Jason Dorsey, the director of the Center for Generational Kinetics, "Gen Z is far more conservative in general with their spending and debt than earlier generations."

Is Gen Z really debt-averse, or are they merely having trouble getting credit products approved? This may reflect a "chicken or the egg" conundrum. I tend to concur that this has a philosophical component.

On the one hand, avoiding debt is a perfectly sensible action that will benefit Gen Zers. But, there are situations when credit is required, like when buying a house or automobile.
Having a college degree can significantly boost your earning potential in many fields, despite how uncomfortable student debt may be. Also, keep in mind that having high credit helps with more than just securing a loan. Utility companies, landlords, and even some jobs may check your credit reports.

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