Recently I ran across an interesting article by Samantha Subin of CNBC discussing how Millennials and Gen Z are utilizing alternative credit. She states that “some experts say in the wake of the financial crisis, younger generations are steering clear of traditional credit and debit.” They are instead utilizing payment plan companies such as AfterPay and Klarna, which cut out the high interest costs and allow users to know up front what their monthly installment plans will be. While they share many similarities with credit cards, these methods of payment appear to provide more freedom and have built more trust with generations who witnessed people fall behind on their credit card payments or themselves have fallen into this trap. Check out the article to learn more: https://www.cnbc.com/2021/08/07/why-millennials-and-gen-zs-are-jumping-on-the-buy-now-pay-later-trend.html

Would you consider a payment plan over a credit card at your favorite store?