Gen Z holds more credit card debt compared to Millennials at the same age. Recent data from TransUnion found that Gen Z consumers, at the same age as Millennials were 10 years ago, are opening more credit lines and have higher debt levels and delinquency rates. Even 84% of Gen Z consumers had at least one credit card in the last quarter of 2023, which is significantly higher than the 61% of Millennials at the same age. Despite 75% of Gen Z consumers noting the pandemic-induced recession having a negative impact on their finances, they are also dealing with a sharp surge of inflation. (Audacy)
📊 YPulse data: 49% of 18-24-year-olds currently hold one or more kinds of debt
