Report: Credit Cards Unpopular Among Young Adults

What's Next In Payments®
4:14 PM EDT February 17th, 2013

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.”

Read the full story here.

Topics:
Comments
Also by This Author
What's Hot
Loyalty & Rewards
Payment History Firm Pulls In $70 Million Investments
Mobile
Bitcoin Platforms Being Reclassified As Money Transmitters
Apple Pay Tracker
Wireless Carriers Could Be Left Out Of NFC Payments
Apple Pay Tracker
What CurrentC Didn’t Say
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
B2B Payments
WEX Comes Off Q3 With Strong Results
International
Transforming Payments from Cost Centers to Revenue Drivers
B2B Payments
U.S. Bank Tries To Streamline B2B Electronic Payments
CA Technologies
Online Transacting Is Safer Than A Card Present World
View All Articles ››