Young consumers are actually preferring in-person financial interactions. New research from Vistar Media and MFour shows that “over one-third of Gen Zers prefer to apply for a credit card in-person.” While the majority (60%) of Gen Z and Millennials are choosing to open new credit cards online, “[young] adults between the ages of 18 and 24 are more likely to apply for a credit card in person (35%) than adults that are 25 or older (14%).” When it comes to loans, young consumers under the age of 25 are more likely to apply in-person as well (49% compared to 37%). YPulse’s Fintech report data shows that 68% of young people use a phone/tablet/computer to keep track of their finances, but 62% prefer to speak to a human advisor. (Business Wire)
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