{"id":1448,"date":"2020-12-15T08:23:35","date_gmt":"2020-12-15T04:23:35","guid":{"rendered":"https:\/\/moneymall.ae\/credit-blog\/?p=1448"},"modified":"2020-12-15T08:24:03","modified_gmt":"2020-12-15T04:24:03","slug":"handling-credit-cards","status":"publish","type":"post","link":"https:\/\/moneymall.ae\/credit-blog\/handling-credit-cards\/","title":{"rendered":"Generation X vs. Millennials: Who is better at handling credit cards?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">People belonging to two different age groups can seldom agree on anything, let alone financial matters. With varying attitudes and behaviours towards money and finances, the question here is &#8211; who can actually handle credit cards better? Millennials or Gen Xers? <\/span><\/p>\n<h1><span class=\"ez-toc-section\" id=\"Let_us_find_out_today_Who_is_better_at_handling_credit_cards%E2%80%A6\"><\/span><span style=\"font-weight: 400;\">Let us find out today Who is better at handling credit cards\u2026&#8217;<\/span><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2344261bf6c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2344261bf6c\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/moneymall.ae\/credit-blog\/handling-credit-cards\/#Let_us_find_out_today_Who_is_better_at_handling_credit_cards%E2%80%A6\" >Let us find out today Who is better at handling credit cards\u2026&#8217;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/moneymall.ae\/credit-blog\/handling-credit-cards\/#About_Millennials\" >About Millennials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/moneymall.ae\/credit-blog\/handling-credit-cards\/#About_Gen_X\" >About Gen X<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/moneymall.ae\/credit-blog\/handling-credit-cards\/#How_do_millennials_and_Gen_X_handle_credit_cards\" >How do millennials and Gen X handle credit cards?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/moneymall.ae\/credit-blog\/handling-credit-cards\/#Financial_goals\" >Financial goals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/moneymall.ae\/credit-blog\/handling-credit-cards\/#Motto_towards_reaching_their_goals\" >Motto towards reaching their goals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/moneymall.ae\/credit-blog\/handling-credit-cards\/#Credit_friendliness\" >Credit friendliness<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/moneymall.ae\/credit-blog\/handling-credit-cards\/#Importance_of_credit_scores\" >Importance of credit scores<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/moneymall.ae\/credit-blog\/handling-credit-cards\/#Debt_management\" >Debt management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/moneymall.ae\/credit-blog\/handling-credit-cards\/#Rewards_and_cashback\" >Rewards and cashback<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<figure id=\"attachment_1984\" aria-describedby=\"caption-attachment-1984\" style=\"width: 1920px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1984\" src=\"https:\/\/moneymall.ae\/credit-blog\/wp-content\/uploads\/2020\/09\/you-x-ventures-NdZ08c-zu0c-unsplash.jpg\" alt=\"Handling Credit Cards\" width=\"1920\" height=\"1300\" \/><figcaption id=\"caption-attachment-1984\" class=\"wp-caption-text\">Handling Credit Cards<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Using credit cards as a primary form of the payment absolutely has its benefits, as long as the card user is responsible when it comes to managing their credit.<\/span> <span style=\"font-weight: 400;\">Millennials and Gen Xers represent the generational segments most likely to open new personal credit cards in the next 12 months.\u00a0 While it may be surprising to see that Generation X is the age group with the most credit card dependency, they also have the proper cash flow and financial discipline to support the behaviour, getting the most benefit out of credit card perks and rewards. Millennials may still be burdened by other economic factors such as student debt and a historically weak job market, so their lower reliance on credit cards could be seen as a positive indicator of their fiscal responsibility.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"About_Millennials\"><\/span><b>About Millennials<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Millennials are 18 &#8211; 40 years old who are born between the early 1980s and 2000<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">They form 46% of the workforce<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Wealth is the primary life goal for about 80% of millennials<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">More than 90% of millennials believe in making their own financial decisions<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"About_Gen_X\"><\/span><b>About Gen X<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">40 &#8211; 60 years old who are born between 1961 and 1981 belong to Gen X<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">They are driven by security and stability in life<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">They usually stay away from taking loans and paying interests<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How_do_millennials_and_Gen_X_handle_credit_cards\"><\/span><b>How do millennials and Gen X handle credit cards?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Here are a few criteria in which millennials and Gen Xers differ from each other in terms of their financial behaviour:<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Financial_goals\"><\/span><b>Financial goals<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Millennials generally plan on buying a house or car, or travelling overseas. They look for the small luxuries in life. On the other hand, Gen Xers are more tilted towards family stability and savings. They too, however, have their eyes on buying a house and a car.<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Motto_towards_reaching_their_goals\"><\/span><b>Motto towards reaching their goals<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Millennials look at their financial goals with the \u201cCarpe Diem\u201d attitude. They easily get credit and loan EMIs and tick their goals off the list. Contradictorily, those belonging to Gen X believe that the slow and steady wins the race. They are of the opinion that saving is the key and that financial risks are unnecessary and should be avoided.<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Credit_friendliness\"><\/span><b>Credit friendliness<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">While the credit friendliness of millennials is quite high, that is not the case with the people of Gen X.\u00a0<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Importance_of_credit_scores\"><\/span><b>Importance of credit scores<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When it comes to credit scores, millennials have had enough material to get educated about it beforehand. However, Gen Xers ended up finding out about credit scores as it came into the market. This significantly changes their outlook towards the same.<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Debt_management\"><\/span><b>Debt management<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Unlike Gen Xers who are well-planned and scheduled when it comes to debt management, millennials are known for managing their debts in an erratic and quick manner.\u00a0\u00a0<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Rewards_and_cashback\"><\/span><b>Rewards and cashback<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Each generation is motivated by rewards differently. 58% of Millennials and 62% of Gen Xers prefer credit cards that offer cash-back rewards to account holders.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As millennials begin to use credit cards more, it is important for them to know credit cards can be used to their advantage. When used properly, credit cards can help improve credit scores and can accumulate valuable rewards consumers can use for travel and other purchases. For Gen Xers, the data does suggest the generation was negatively impacted by the economic bubble, perhaps more so than even millennials. However, members of Generation X still have plenty of time and working years to get back on track and improve their spending habits. In which age group do you belong? Let us know and also tell us who you think is better at handling credit cards &#8211; millennials or Gen Xers!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>People belonging to two different age groups can seldom agree on anything, let alone financial matters. With varying attitudes and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2],"tags":[495,494],"class_list":["post-1448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-credit-cards","tag-better-credit-cards","tag-handle-credit-cards"],"_links":{"self":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts\/1448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/comments?post=1448"}],"version-history":[{"count":3,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts\/1448\/revisions"}],"predecessor-version":[{"id":1985,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts\/1448\/revisions\/1985"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/media\/1449"}],"wp:attachment":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/media?parent=1448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/categories?post=1448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/tags?post=1448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}