A Concerning Sign for Credit Card Issuers?

A Concerning Sign for Credit Card Issuers?

The future growth of the credit card market may be impeded by some current trends with young adults.

Young adults, aged 18 to 35, are not as likely to use credit cards as their parents.

According to a recently released study by the Mercator Advisory Group, 59 percent of young adults have a credit card compared to 70 percent of senior adults.

In addition, these young consumers are three times more likely than their senior counterparts to reduce their credit card use in favor of debit cards: 36% of young adults compared to 12% of seniors.

"The anti-credit card sentiment appears to be waning," stated Karen Augustine, manager of Customer Monitor Survey Series at Mercator Advisory Group. "But, issuers need to address the needs of the young adults in order to stimulate greater credit card volume."

The study, entitled "Consumers and Credit: 2012: Come Back, Young Cardholders", was conducted on 1,003 online consumers throughout the country in June 2012.

Discover it® Apply Now

See Details

Discover it®

Special Offer: 0% Intro APR* on purchases and balance transfers for 14 months

Editor Rating:

Chase Slate® Apply Now

See Details

Chase Slate®

Special Offer: 0% intro APR for 15 months plus no balance transfer fees within the first 60 days

Editor Rating:

Chase Freedom® Apply Now

See Details

Chase Freedom®

Special Offer: $100 bonus after you spend $500 on purchases within the first 3 months of account opening plus 0% intro APR for 15 months!

Editor Rating:

Barclaycard Arrival Plus™ World Elite MasterCard® Apply Now

See Details

Barclaycard Arrival Plus™ World Elite MasterCard®

Special Offer: Earn 40,000 bonus miles if you make $3,000 or more in purchases in the first 90 days from account opening - that equates to $400 off your next trip!

Editor Rating:

Barclaycard® Ring MasterCard® Apply Now

See Details

Barclaycard® Ring MasterCard®

Special Offer: Low 8% (V) APR on purchases and balance transfers

Editor Rating: