Question of the Day: What is the average credit card debt held by Gen Z?

Nov 17, 2021
Question of the Day, Credit Cards

Answer: $2,312


  1. Why might Gen Z have lower credit card debt than other generations?
  2. Do you think young people with credit cards expect to go into debt? Explain.
  3. Do you have a credit card? Why or why not? If so, are you able to pay off the balance every month?
  4. How can carrying credit card debt month to month negatively impact your financial health? 

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Behind the numbers (The Ascent):

 "The lowest average credit card debt by age was Generation Z with $2,312. Since young adults have lower incomes on average, they also have a lower average credit limit, which at least helps with avoiding credit card debt.

In addition, college students have an average credit card debt of $1,183.

Because students are often on a tight budget, their credit card balances are much lower than the average. Even though that's a good sign, a lower-than-average balance can still be difficult to pay off when you have a limited income."



Want to access more Credit-focused activities and resources? Check out the Types of Credit unit page.


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About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.