Report: Credit Cards Unpopular Among Young Adults
According to a new Mercator Advisory Group report, only 59 percent of young adults in the 18-35 age group use credit cards, compared to 70 percent of the population as a whole.
The report also found that young adults are three times s likely to then seniors to reduce their credit card use in favor of debit card use, as ATM Marketplace reports.
“The anti-credit card sentiment appears to be waning,” said Karen Augustine, manager of Customer Monitor Survey Series at Mercator Advisory Group and the author of the report. “But issuers need to address the needs of the young adults in order to stimulate greater credit card volume.”