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Most people would say yes to this question. Some only use it for emergencies, some use it for everyday expenses to help them get by, and some use it to accrue points to earn benefits like cash back or flight mileage.
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Do you have a credit card? Most people would say yes to this question. Some only use it for emergencies, some use it for everyday expenses to help them get by, and some use it to accrue points to earn benefits like cash back or flight mileage.
No matter what, you have one for a reason. However, studies are finding that more Millennials either don't have a credit card, or aren't using them correctly.
NerdWallet Awebsite that compares credit cards for you, conducted a survey and found that nearly half of millennials aged 18-34 have applied for credit cards based on promotions or advertisements.
NerdWallet stated that the average credit score of a US consumer is 695, while half of millennials have a credit score of less than 670.
One step to always take before applying for a credit card is to make sure you have a plan for that credit card, what you will charge to the card, what is the maximum amount you will spend on the card each month, and how you'll pay it back every due date.
