NEW YORK—Which generation is most guilty of maxing out their credit cards?
Research from The Ascent reveals that one generation is more guilty of falling victim to that trap than others, and it’s not Millennials.
While it's true that 50.3% of younger Americans have maxed out their credit limits, the distinction of maxing out the most goes to Gen Xers, with 58.8% hitting their credit limits at one point or another, noted The Motley Fool in its analysis.
“By contrast, only 39.3% of Baby Boomers have maxed out their credit cards—an uncomfortably high percentage nonetheless—but notably lower than the numbers associated with Boomers' younger counterparts,” The Motley Fool said.