Study: 41% Of Millennials Think Credit Cards Are "Scary"

Is the phrase Millenials Financial Literacy an oxymoron?

It was a little over a month and a half ago that we learned that millennials were swayed by tweets, selfies and social media interaction to make their banking choices. Now a new survey notes that a large percentage, 41%, think using a credit card is a “scary thing” while 6% think a late payment will help their credit score.

Millenials Financial Literacy is "alarming" says university professor

Every three years, the Programme for International Student Assessment (PISA) does a financial literacy assessment. The most recent study released in May was “disturbing,” according to Annamaria Lusardi, a professor at the George Washington University...