Jan 18, 2022

Question of the Day: What is the most popular credit product for Gen Z consumers?

Answer: Credit Cards


  • What do you think will be your first credit product, if any, from the list above? 
  • How would you describe your feelings about borrowing money (credit)? 
  • The chart above compares Gen Z and Millennials when they were at the same ages. What differences do you see in the credit behaviors? 

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

Behind the numbers (CNBC):

TransUnion compared the credit activity and performance of millennials (25 to 39 in 2019) and Gen Z consumers in the U.S. To have a true “apples to apples” comparison, TransUnion observed millennials who were between the ages of 18 and 24 years old in 2012 and Gen Z consumers who were 18 to 24 years old as of 2019, adjusted for risk and age differences.

The comparison found a difference between which products each generation preferred. Gen Z favored credit cards (41%) over student loans (37%) while millennials were the reverse — student loans (44%) and credit cards (34%).


Students take on the role of lender and learn about the tricks of the loan trade in NGPF's Shady Sam


 Did you miss NGPF's "Best of..." series in December? Here are some of the highlights:


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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