It’s hardly a secret that millennials loathe credit card debt. They fear it, in some cases more than other very frightening life events.
It was widely reported last year that debt conscious millennials are disrupting the credit card industry in large part because only one in three members of this demographic carries plastic. Instead, they prefer to pay with cash or use debit cards, according to a Fed study.
Debit cards however, don’t always offer the same perks or rewards as credit cards, in the form of points programs or cash back.