Data Insider

The desire to pay rent with a credit card continues to be an interesting debate between residents (of all ages), owners and property management software firms.

Interestingly, a recent survey by creditcards.com of Millennials (aged 18 to 29) showed that 36 percent of them have never owned a credit card, compared to 13 percent for both Gen X (aged 30 to 49) and Baby Boomers (aged 50 to 64).

The survey’s analyst says Millennials instead use debit cards or pre-paid cards because “they’re afraid of credit because their financial views were forged during the Great Recession and in the apocalyptic job market that they and their friends have faced.”

The debit-card carriers should keep in mind that faithfully paying off credit cards can help their credit rating and offer greater liability protection than the former.