Millennials aren't connecting with credit cards, yet

While struggling to make ways during the post-financial crisis, millennials have the tendency to steer clear of consumer credit. Many millennials fear that credit cards will put them at risk of debt. But if used responsibly, credit can lead to big savings and have you prepared for the future.

A new study from Bankrate finds that nearly 64 percent of millennials don’t own a single credit card, leaving many relying on debit cards and cash. While choosing one payment option over the other is a matter of preference, credit cards offer big advantages while in your 20s.

Owning a credit card at an early age allows you to establish credit and build your credit score. A healthy credit score will be beneficial towards your future purchases, such as a mortgage or low-rate car loan. While debit cards assist with budgeting, credit cards offer more aggressive fraud protections. Debit cards are linked directly to your bank account, making them an easy target.

If you’re interested in building your credit history, visit a Travis Credit Union branch to review the various credit card accounts available. For more information, you can visit us online at

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