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The Greatest and Silent Generations and Their Attitude towards Credit Card Deals
They say that age bestows more than wrinkles and wisdom. Of course when you become older, you change your behavior and attitude towards certain things. There is no doubt some events that happen during your lifetime can have great influence on you.
No wonder that people of different age groups and generations have different views on credit card deals. Today we will check out the views about credit cards and debt of people of The Greatest and Silent Generations (born in 1911-1945). Later we will compare their views with opinions of Baby Boomers (born in 1946-1964), Generation X (born between 1965 and 1979) and Millennials (1980-2000).
People of The Greatest and Silent Generations are known as extremely disciplined credit card users. Of course, at the time of their youth credit card market was not as developed as it is today, that's why they are not really well-informed about plastics.
Some cardholders of The Greatest and Silent Generations, especially seniors, have some difficulties in understanding credit cards. According to the statistics about 80% consult relatives or financial specialists before filling out credit card applications in order to have more information about cards' terms and conditions.
These people lived in times of the Great Depression and World War 2 and some of them still carry the fear that everything can crash down. That is the main reason why they don't overspend and avoid credit card debt.
Responsibility is the main feature of character of this generation. Of course there are some exceptions, but they are few. They don't use credit cards if they can't afford to pay back their credit card company. It should be a golden rule for all credit card users! If you don't overspend and only buy things you can easily pay for, you will never end up having bad credit! As you see people who were born more than 80 years ago realize that!
Most of these people carry credit cards nowadays and according to the financial specialists they use them rather frequently!
And it is not surprising! Credit cards have been on the financial scene for more than 50 years and have become absolutely necessary! It seems to be impossible not to carry a plastic card today! Regular things such as renting a car, reserving an airplane ticket or a hotel room are impossible if you don't have a credit card!
Unfortunately people of The Greatest and Silent Generations don't use their best credit cards to purchase a flat screen TV, a laptop or in order to pay for the meal in the restaurant. Prices on products and on prescription medicine have skyrocketed, that's why more and more people of this generation use credit cards in order to pay for their medications and medical bills.
But still the people of The Greatest and Silent Generations are wise credit cards users and we can learn about financial responsibility from our parents and grandparents
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I think it is sad that people of the older generation are affraid of financial crysis!
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No secret that men and women are from two different planets. It tells on nearly everything - from food preferences to money attitudes and financial management style. Yes, this green stuff that seems to be just conventional units that you can exchange for goods and services breeds misunderstanding, disagreement and conflicts. According to statistics, money is the leading cause of divorce in the US.
Where do we get an attitude about money? And how come a man and a woman, contemporaries, treat money in different ways and have different spending habits? Do you want to know what Venus and Mars' people think about money matters and how they spend it? Read on!
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When selecting a new card, you may narrow down your search to two plastic money offers. At first glance, they're both worthwhile. The only difference between them is that one has a variable APR and the other one comes with a fixed APR. The question is, which one is better?
Most customers believe that fixed rate cards are a better option due to the fact that interest rates are "fixed", i.e. they stay the same no matter how economic indexes changes. Is it really a right assumption? Let's try to clear this question up and set the difference between these two types!
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We all would love to be good payers with an impeccable credit profile. Having a good score rating can save a borrower hundreds or thousands of dollars in interest payments. Meantime, a bad credit score generally becomes a cause of stress and anxiety, as most lending organizations prefer to work with solvent borrowers.
Like it or not, but good credit cannot be built overnight. It's not something we can buy or sell. It's not something we're born with. This three-digit number requires much work to be done before you can enjoy all the privileges of plastic money deals. If your score rating leaves much to be desired and you don't want to take it for granted, read more about the ways to repair your bad credit.
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I know what you mean! My grandfather always teaches me how to be responsible with finances! I guess fear still lives in his heart!