Summary
Almost a fifth of teens 13-17 are authorized users on an adult’s card, a TransUnion study finds
The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.
About a fifth of teenagers ages 13-17 (19 percent) hold a credit card as an authorized user on a parent’s or guardian’s account. Even more Gen Zers are getting accustomed to using plastic, with 40 percent having their own debit card.
Of teenagers on a credit card account, almost half (47 percent) report using the card weekly, with 14 percent saying they use it daily.
A majority of the teens on a credit card account were given access when they were 14 or younger, at 54 percent. But among them, 10 percent became authorized users before they turned 13.
The TransUnion survey was conducted by research firm Ipsos in May 2017, with findings released in June 2017 in the report, Generation Z’s Financial Report Card. More than 1,000 U.S. teenagers between ages 13-17 were surveyed, with the results calibrated to match the demographics of the American population.
See related: More parents giving their kids credit cards, Generation Z embraces credit, rejects debit, Generation Z leads in mobile payments, More infographics
To use the graphic on your site, use the following code:
<center><a href=”https://www.creditcards.com/credit-card-news/infographic-generation-z-credit-cards/”><img alt=”CreditCards.com Infographic: Generation Z getting a head start on credit” border=”0″ src=”https://www.creditcards.com/credit-card-news/images/infographic-generation-z-credit-cards.png” /></a> </center>
Editorial Disclaimer
The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.