How Younger Consumers Make Credit Decisions

Gen Z and Millennials Use Credit as Cash Management Tool

Most millennial and Gen Z consumers use credit for better spend management, and roughly one-quarter of millennials say they could not afford purchases without it. PYMNTS’ latest survey of 3,396 U.S. consumers, “The Credit Economy: How Younger Consumers Make Credit Decisions,” a collaboration with i2c, reveals credit’s evolving role in personal finance.
Inside the June 2023 Study
  • 24%: Portion of consumers citing rewards as the most important reason for using BNPL instead of other payment options
  • 14%: Share of Gen Z consumers who used BNPL to make a purchase in the last 90 days
  • 52%: Portion of millennials citing better spending management as the main reason they use credit products

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