Gen Z Is Racking Up Card Debt After Era of Tightwad Millennials
- Typical 24-year-old already owed $2,000 on a card last year
- ‘The desire for credit among this generation is significant’
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A generation of Americans who were entering adolescence when the financial crisis struck is showing little fear of debt.
Members of Generation Z are more likely to run up their credit cards than the Millennials who came before them, new research shows, buoying the financial industry’s hope that today’s teens and emerging 20-somethings will fuel higher profits in coming years.