--- title: "Infographic: Why Are Millennials Avoiding Credit Cards?" description: Why are Millennials more averse to credit cards than previous generations? Learn more on the Inspira blog! image: https://blog.inspiramarketing.com/hubfs/Screen-Shot-2019-03-21-at-2.50.37-PM.png --- [![vast.png](https://blog.inspiramarketing.com/hs-fs/hubfs/Inspira%20Wordmark.png?width=480&height=206&name=Inspira%20Wordmark.png "vast.png")](http://inspiramarketing.com) - [Default HubSpot Blog](https://blog.inspiramarketing.com/blog) # Default HubSpot Blog ## [Infographic: Why Are Millennials Avoiding Credit Cards?](https://blog.inspiramarketing.com/blog/infographic-why-are-millennials-avoiding-credit-cards) Mar 21, 2019 12:09:52 PM / by [Rob Patterson](https://blog.inspiramarketing.com/blog/author/rob-patterson) - [Tweet](https://twitter.com/share) At 83 million strong, Millennials now make up one quarter of the U.S. population. As such a large group, they also represent $200 billion in spending power – the second-most of any generation behind Baby Boomers. Accordingly, it would behoove brands in the financial services industry to cater to this ascending group. However, finances are a touchy subject for Millennials, as evidenced by their feelings about credit cards. Here, we take a look at their behavior and concerns to understand how financial institutions can get Millennials interested in their offerings. ![Why-Are-Millennials-Avoiding-Credit-Cards_V2.jpg](https://blog.inspiramarketing.com/hubfs/blog/Why-Are-Millennials-Avoiding-Credit-Cards_V2.jpg) Here are five facts you need to know about Millennials and their relationship with credit cards: **Credit Card Debt is Pervasive** $5,700 is the average balance for households carrying credit card debt **Millennials Aren't Buying It** 18-29 - 33% 30-49 - 55% 50-64 - 62% 65+ - 68% 35.2% find credit card debt the scariest thing in their lives, compared to 20.4% who fear death above all else **What Is It About Credit Cards?** 33% accruing interest 32% making monthly payments 20.4% too reliant on credit options 7.8% don't understand interest rates **The Reasons for Debt** 34% used credit cards to take care of emergency or unexpected expenses 31.8% made one large purchase that exceeded available funds 18.6% need to rely on credit card to supplement their income 4% can afford to pay off their debt, but choose not to **Confidence is Still Sky High** 30.6% Extremely confident that they'll be able to pay off debt in the next 12 months 20% Very confident 29.4% Somewhat confident 12.4% Not very confident 7.6% Not at all confident **[Contact us](http://inspiramarketing.com/contact)** today to learn how our team can help you reach Millennials with your next campaign. Topics: [Infographics](https://blog.inspiramarketing.com/blog/topic/infographics) ![Rob Patterson](https://app.hubspot.com/settings/avatar/e1a05c73af5188138a1c9a81f2768bad) #### Written by [Rob Patterson](https://blog.inspiramarketing.com/blog/author/rob-patterson) ### Subscribe to Email Updates - Recent - Popular - Categories ### Lists by Topic - [Insights (179)](https://blog.inspiramarketing.com/blog/tag/insights) - [Experiential (120)](https://blog.inspiramarketing.com/blog/tag/experiential) - [Infographics (95)](https://blog.inspiramarketing.com/blog/tag/infographics) - [Inspira in the News (70)](https://blog.inspiramarketing.com/blog/tag/inspira-in-the-news) - [Social Media (64)](https://blog.inspiramarketing.com/blog/tag/social-media) - [Employee Spotlights (49)](https://blog.inspiramarketing.com/blog/tag/employee-spotlights) - [Inspira News (49)](https://blog.inspiramarketing.com/blog/tag/inspira-news) - [Awards (46)](https://blog.inspiramarketing.com/blog/tag/awards) - [CPG (40)](https://blog.inspiramarketing.com/blog/tag/cpg) - [Trend Reports (34)](https://blog.inspiramarketing.com/blog/tag/trend-reports) - [Brand Storytelling (29)](https://blog.inspiramarketing.com/blog/tag/brand-storytelling) - [Beverage (26)](https://blog.inspiramarketing.com/blog/tag/beverage) - [Sports & Entertainment (21)](https://blog.inspiramarketing.com/blog/tag/sports-entertainment) - [Food (16)](https://blog.inspiramarketing.com/blog/tag/food) - [Health and Wellness (16)](https://blog.inspiramarketing.com/blog/tag/health-and-wellness) - [Travel & Hospitality (16)](https://blog.inspiramarketing.com/blog/tag/travel-hospitality) - [Automotive (15)](https://blog.inspiramarketing.com/blog/tag/automotive) - [Financial Services (12)](https://blog.inspiramarketing.com/blog/tag/financial-services) - [Insider (9)](https://blog.inspiramarketing.com/blog/tag/insider) - [Digital Marketing (7)](https://blog.inspiramarketing.com/blog/tag/digital-marketing) - [Beauty (6)](https://blog.inspiramarketing.com/blog/tag/beauty) - [CPG brand activations (6)](https://blog.inspiramarketing.com/blog/tag/cpg-brand-activations) - [experiential marketing agencies (5)](https://blog.inspiramarketing.com/blog/tag/experiential-marketing-agencies) - [Loyalty (4)](https://blog.inspiramarketing.com/blog/tag/loyalty) - [Sustainability (4)](https://blog.inspiramarketing.com/blog/tag/sustainability) - [HR (2)](https://blog.inspiramarketing.com/blog/tag/hr) - [Halloween (2)](https://blog.inspiramarketing.com/blog/tag/halloween) - [consumer goods product launches (2)](https://blog.inspiramarketing.com/blog/tag/consumer-goods-product-launches) - [integrated experiential campaigns (2)](https://blog.inspiramarketing.com/blog/tag/integrated-experiential-campaigns) - [live event marketing (2)](https://blog.inspiramarketing.com/blog/tag/live-event-marketing) - [nationwide event production (2)](https://blog.inspiramarketing.com/blog/tag/nationwide-event-production) - [Cannabis (1)](https://blog.inspiramarketing.com/blog/tag/cannabis) see all ### Posts by Topic - [Insights (179)](https://blog.inspiramarketing.com/blog/tag/insights) - [Experiential (120)](https://blog.inspiramarketing.com/blog/tag/experiential) - [Infographics (95)](https://blog.inspiramarketing.com/blog/tag/infographics) - [Inspira in the News (70)](https://blog.inspiramarketing.com/blog/tag/inspira-in-the-news) - [Social Media (64)](https://blog.inspiramarketing.com/blog/tag/social-media) - [Employee Spotlights (49)](https://blog.inspiramarketing.com/blog/tag/employee-spotlights) - [Inspira News (49)](https://blog.inspiramarketing.com/blog/tag/inspira-news) - [Awards (46)](https://blog.inspiramarketing.com/blog/tag/awards) - [CPG (40)](https://blog.inspiramarketing.com/blog/tag/cpg) - [Trend Reports (34)](https://blog.inspiramarketing.com/blog/tag/trend-reports) - [Brand Storytelling (29)](https://blog.inspiramarketing.com/blog/tag/brand-storytelling) - [Beverage (26)](https://blog.inspiramarketing.com/blog/tag/beverage) - [Sports & Entertainment (21)](https://blog.inspiramarketing.com/blog/tag/sports-entertainment) - [Food (16)](https://blog.inspiramarketing.com/blog/tag/food) - [Health and Wellness (16)](https://blog.inspiramarketing.com/blog/tag/health-and-wellness) - [Travel & Hospitality (16)](https://blog.inspiramarketing.com/blog/tag/travel-hospitality) - [Automotive (15)](https://blog.inspiramarketing.com/blog/tag/automotive) - [Financial Services (12)](https://blog.inspiramarketing.com/blog/tag/financial-services) - [Insider (9)](https://blog.inspiramarketing.com/blog/tag/insider) - [Digital Marketing (7)](https://blog.inspiramarketing.com/blog/tag/digital-marketing) - [Beauty (6)](https://blog.inspiramarketing.com/blog/tag/beauty) - [CPG brand activations (6)](https://blog.inspiramarketing.com/blog/tag/cpg-brand-activations) - [experiential marketing agencies (5)](https://blog.inspiramarketing.com/blog/tag/experiential-marketing-agencies) - [Loyalty (4)](https://blog.inspiramarketing.com/blog/tag/loyalty) - [Sustainability (4)](https://blog.inspiramarketing.com/blog/tag/sustainability) - [HR (2)](https://blog.inspiramarketing.com/blog/tag/hr) - [Halloween (2)](https://blog.inspiramarketing.com/blog/tag/halloween) - [consumer goods product launches (2)](https://blog.inspiramarketing.com/blog/tag/consumer-goods-product-launches) - [integrated experiential campaigns (2)](https://blog.inspiramarketing.com/blog/tag/integrated-experiential-campaigns) - [live event marketing (2)](https://blog.inspiramarketing.com/blog/tag/live-event-marketing) - [nationwide event production (2)](https://blog.inspiramarketing.com/blog/tag/nationwide-event-production) - [Cannabis (1)](https://blog.inspiramarketing.com/blog/tag/cannabis) See all ### Recent Posts # Let's Get Started! Inspira Marketing Group is committed to building brands through integrated brand experiences. # Contact Us [dsullivan@inspiramarketing.com](mailto:dsullivan@inspiramarketing.com) 31 Hudson Yards, FL 11 New York, NY 10001-2170 Copyright 2026 | Designed with by [HubSpot](https://www.hubspot.com)