15.3% of Gen Z credit card borrowers have maxed out their credit cards, according to a Federal Reserve Bank of New York report.

15.3% of Gen Z credit card borrowers (born 1995-2011) have maxed out their credit cards, according to a Federal Reserve Bank of New York report. This compares to 12.1% for millennials and 9.6% for Gen X. The report defines "maxed out" as using 90% or more of available credit, with Gen Zers having a median balance of $760 and a median credit limit of $4,500.

May 17, 2024
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