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Credit card stack

Millennials are flocking to credit cards, according to a new white paper from CO-OP Financial Services.

After years of difficulty getting credit, the tide is turning for one of the country’s fastest-growing consumer segments, according to the Rancho Cucamonga, Calif.-based company.

“To-date, millennials have not found it easy to obtain credit. Many graduated college with record student loan debt. They were also denied the access to credit enjoyed by prior generations due to Credit CARD Act regulations. In fact, the thin credit histories of the nation’s millennials is often cited as one reason the segment has been faster to adopt digital payment apps,” the report said.

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Tina Orem

Credit Union Times

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