Credit Cards vs Debit Cards and Why You Should Stop Using Debit Cards Immediately

Credit CardA Bankrate study last year found that 67% of millennials did not own a credit card. This isn’t that surprising since many were old enough to see how the over-usage of debt and the financial crisis affected those around them.

The Credit CARD Act of 2009 also made it harder for those under 21 to get a credit card by prohibiting credit card companies from giving out free swag on college campuses and requiring proof of income or a co-signer to get a credit card. Thus, a whole new generation of adults do not see any reason to have a credit card, which could become a problem in the future.

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