Gen Z relies on minimum credit card payments despite future wealth prospects

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  A September study found that 59% of Gen Z credit cardholders relied on minimum-only payments, the highest share of any generation.

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  The study said 37% did not earn enough to pay more than the minimum, while 30% felt they should handle their debt alone.

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  More than half of Gen Z respondents said they felt embarrassed or ashamed of their credit card debt.

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  Only 20% of Gen Z knew their exact credit card interest rate, the lowest share among generations.

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  Gen Z’s wealth is projected to reach $36 trillion by 2030 and $74 trillion by 2040, though much of the expected growth depends on inheritances and wealth is unevenly distributed.

Who

Gen Z credit cardholders, according to a study by Freedom Debt Relief.

What

The study found that Gen Z was more likely than other generations to make only minimum credit card payments.

When

The study was described as a September study; the article was published October 10, 2026.

Where

Not stated.

Why

The study said 37% did not earn enough to pay more than the minimum, while 30% felt they should manage the debt on their own.

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