Millennials are supposed to be the cautious generation where credit is concerned. Many were burned during the housing crisis and Great Recession and vowed not to be overextended with credit. However, evidence is growing that millennials are headed down the same dangerous credit path as previous generations.
While millennials do have lower average credit card balances, recent surveys have shown worrying credit trends among millennials – including increased credit utilization and a tendency to buy things just to chase rewards points.
A new CreditCards.com survey reinforces these trends. According to the survey, millennials…