A new survey has revealed that teenagers have a preference for debit cards as opposed to credit cards. While nearly 80 percent of the adult US population has one or more credit cards, the trend with teenagers reveals something else.
Moreover, more that half of those cardholders have substantial outstanding balances on their cards and are paying outrageous interest rates of 12 percent to 15 percent.
Teenagers on the other hand, seem to have taken a preference to debit cards. The survey revealed that only 15 percent of teenagers owned credit cards. They had a clear preference for debit cards.
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