The number of cards per Gen Z decreased since the last update. What may have influenced that decline?

Answer: 1.5 credit cards per person

Questions:

1. Do you have/plan to have a credit card before you turn 21? Why or why not?
2. Do you think it is easier/more difficult to get a credit card when you are young?
3. What are two major differences between a debit card and a credit card?
4. What do you think is the ideal number of credit cards to have?

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):

"In the U.S., Gen Z credit cardholders have an average of 1.5 credit cards, which is lower than the average American’s four credit cards. The median credit card balance is $606 and cardholders have roughly a 31% utilization rate (the total amount of credit you’re using compared to your total credit limit). This is in line with the recommended 30% utilization rate and in general, the lower, the better."

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It is important for everyone to review their credit card statement. Here's an NGPF Fine Print: Credit Card Statement to teach your students how to interpret this statement.

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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.

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