Feb 05, 2020

Question of the Day: Rank order from most to least prevalent these credit products used by Gen Z (18-24): Student Loan, Auto Loan, Credit Card.


Note: Private label = store credit card


  • What is your current attitude toward credit products? 
  • Do you anticipate using any of these products?
    • If so, at what age do you think you will start using them? 
  • Describe what it means to use credit products responsibly. 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (TransUnion research):

Many younger consumers receive smaller credit limits on cards — part of lenders’ strategy to manage risk with new-to-credit consumers — which can drive higher utilization rates. In the United States, credit-active Gen Z consumers have an average of about 1.5 cards, with an average utilization rate of 31%. Consumers are still generally using the credit cards they receive prudently, with low median balances per consumer of 606. 


Check out this video on Gen Z credit habits from our FinCap Friday library: Move Over, Millennials! 


Shady Sam is a game that will teach your students "the tricks of the loan trade." 


About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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