Best Credit Card Offers specially for you

About Us  |  Contact Us  |  Articles  |  News  |  Tips  |   Tools
ADVERTISER DISCLOSURE is an independent, advertising-supported web site which is compensated by the credit card issuers whose offers appear on the site. This compensation may impacts how and where the credit products appear on our site, including, the order in which they may appear within credit product lists. does not review or offer all available credit products.

Debt is a Way of Life for Generation X

[Saturday, August 1st, 2015]

Being in debt is no fun, but a recent study found that people may be becoming more comfortable with it, even seeing it as a way of life and accepting their big balances as something they simply need to get by.

Allianz Life Insurance Company of North American (Allianz Life) asked 2,000 Americans, half of them ages 49-67 (Baby Boomers) and half of them ages 35-48 (Generation X) about their finances, including their debt load and their attitude toward money and debt, specifically mortgage debt, student loan debt, and credit card debt.

Generation X deeper in debt than previous generation

This study grouped folks born between 1967 and 1980 under the Generation X umbrella. Baby Boomers are respondents born between 1948 and 1966. The study found that Generation X is deeper in debt than the generation preceding them.

Generation Xers carried an average of $144,000 in mortgage debt, compared with Boomers, who carried an average of only $90,000 in mortgage debt. Non-mortgage debt, made up of student loan debt and credit card debt combined, was also higher for the younger generation, with an average of $8,000 in non-mortgage debt for Gen X and $6,000 in non-mortgage debt for Boomers. Percentage-wise, that’s 38% higher mortgage debt and 45% more non-mortgage debt for Gen X compared with Boomers.

Attitudes toward debt balances

A more blasé attitude toward debt is becoming endemic to younger folks, if this study is any indication. Close to half of all 2,000 respondents (48%) said credit cards are a “survival tool” and nearly that percentage alsofelt that having a lot of credit card debt didn’t mean someone wasn’t intelligent, a hard worker, and careful with their finances. “Lots of smart, hardworking people who are careful with spending also have a lot of credit card debt” was the statement given on the survey, with which 43% agreed.

Retirement on the line

Having a lot of debt can make retirement tricky, and signs indicate that Generation X may not be counting on retiring anytime soon, if at all. Twenty-seven percent of Generation X respondents said they aren’t sure if or when they will retire. Only 11% of Baby Boomers said the same.

Read also

Many Americans In Credit Card Debt Have Been In Debt For Over Two Years
[November 7th, 2017]

If you are carrying credit card debt and feel like you’ve been carrying it forever, you might be right. Well, maybe not forever, but for a while.

Continue reading ››

People Feel Better About Their Financial Lives Than Their Love Lives, Says Survey
[September 2nd, 2017]

Is it harder to find true love, or to be financially successful? The third annual Love & Money Survey, conducted by TD Bank, offers some insight on Americans’ struggle to achieve happiness in both their romantic lives and their financial ones.

Continue reading ››

Nearly 100 Million Americans Store Credit Card Info Online
[June 19th, 2017]

Despite a common conception that older people are more reluctant to trust technology, especially when it comes to money matters, it seems the so-called “Silent Generation,” or those in their 70s and 80s, are the most likely to save their payment information on websites or mobile apps.

Continue reading ››
Copyright © 2003-2018 All Rights Reserved strives to keep credit card information up to date and accurate. However, all the credit card information is presented without warranty and can be changed by the credit card issuers at any time. Click the "Apply online" button to see the online credit card application and to review current credit card terms and conditions. Note that can be compensated by credit card issuers when the visitors apply for a credit card through the website.
* The webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the website are property of their respective owners.
Information in these articles is brought to you by Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.
Disclosure: Not an access card.