Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Opinion Editorials

From the mouth of a millennial: Why we avoid credit cards

(OPINION EDITORIAL) Millennials are becoming less and less likely to get into credit card debt, and there is a fear surrounding the idea of the plastic.

Man handing Mastercard

From kid to bigger kid

Throughout my 22 years, there have been numerous occasions where I’ve stated, “Future Taylor can deal with that.” What I did not anticipate is that Future Taylor would actually begin transitioning into adulthood so soon.

I would venture to guess this takes everyone by surprise. One day you’re playing outside until the streetlights come on, and the next you’re trying to figure out how to fill out a tax form.

Credit card conundrum

One of these “adult” things that I thought would take an eternity before I had to deal with it is the wonderful world of credit cards. Now, I don’t know about you, but there was a lot of real world information I was not briefed on in high school.

In addition to graduating with knowing next to nothing about taxes, insurance, real estate, etc. I was never introduced to the idea of credit.

To be honest, I find the idea of credit rather frightening. I’m well aware that it is important to build credit, but the fact that my financial future is somewhat dependent on decisions I make now is a lot to wrap my head around.

Millennials feel the fear

And, it seems as though many other millennials feel this way, too. After seeing what their parents have gone through with credit card debt and the 2008 financial crisis, people around the just-out-of-college age are reluctant to sign up for cards and begin building their credit.

Advertisement. Scroll to continue reading.

In addition, many millennials are bogged down by the weight of student debt and are working toward paying that off before digging themselves in deeper.

It’s a catch-22 when you know you need to be building credit for the future, but there is so much that could go wrong.

Debit beats credit

A lot of millennials have become comfortable with paying for everything with their debit cards or a cash app on their phone. From personal experience, it is unusual to see one of my friends pay for something with physical cash, a check, or a credit card.

According to Nathaniel Popper, a 2013 study shows that only 37 percent of households that are headed by someone aged 35 or younger held credit card debt.

This is a statistic that would be wildly different for any generation prior to millennial.

In the end…

Personally, I am slowly getting used to the idea of applying for credit cards and beginning to build credit. But, with so much instability in the world, financial and otherwise, it continues to be a daunting thought.

Advertisement. Scroll to continue reading.


Staff Writer, Taylor Leddin is a publicist and freelance writer for a number of national outlets. She was featured on Thrive Global as a successful woman in journalism, and is the editor-in-chief of The Tidbit. Taylor resides in Chicago and has a Bachelor in Communication Studies from Illinois State University.



  1. Doug

    September 1, 2016 at 10:29 am

    I have put a lot of thought into this as a parent of an eighteen year old heading to college and a sixteen year old right behind her.

    If you feel you need a credit card, get one, auto-pay a single bill with it and pay it off each month. Hold that credit card for a very long time and NEVER carry a balance while asking for increases in the credit available about every year.

    When I look at my credit report I see much more activity around paying off bills each month, on time. Things like an electric bill, phone, etc. all add up as well.

    I think that the “need” for credit is a bit blown out of proportion as well, who exactly has the benefit of this premise?

    • Taylor

      September 3, 2016 at 3:14 pm

      Thanks for the feedback, Doug!

  2. Pingback: Abbreviations you're using that annoy everyone, especially coworkers - The American Genius

  3. Pingback: Credit card limits got slashed for millions without them knowing

Leave a Reply

Your email address will not be published. Required fields are marked *


American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.



Business Articles

(EDITORIAL) These 8 phrases are a part of culture right now and will probably be here for a hot minute - so the question...

Business Finance

(FINANCE) Financial stress is tough on everyone. Here’s who has cried the most about money woes, and a few tips on how to alleviate...

Opinion Editorials

(EDITORIAL) How can you know who your true business friends are? In the cutthroat world of business, can you even have colleagues that you...

Business Finance

(FINANCE) Many choose to freelance in order to escape the daily grind of working for an hourly wage. Why, then, should a freelancer charge...

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.