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Recent data from Experian shows how credit card debt varies across generations. Generation-Z carries an average balance of $3,493; Millennials hold $6,961 and Generation-X carries the most at $9,600. Average balances then dip to $6,795 for Baby Boomers and $3,445 for the Silent Generation.
The data reveals that credit card balances have risen faster for Gen-Z and Millennials than for older generations, with their average debts now topping those of Baby Boomers and the Silent Generation. Over the past few years, balances for Gen-X have also jumped sharply. Experian…