So, Millennials are using credit cards after all. Though studies over the last several years have portrayed Millennials as “credit card averse,” a recent study by FICO says that over eight in ten 25-34-year-olds are using credit cards and about half are using at least three cards. The credit scoring company reasons that this group has turned to credit to help them manage “numerous lifestyle costs, such as college loans, car and home ownership, as well as supporting young families.” About one in five say they plan to use their cards for “big ticket items,” like a new car. Ypulse’s financial tracker shows that 64% of 18-33-year-olds use credit cards as a payment method in an average month. (Forbes)
