Roughly one in seven (15.3%) Gen Z credit card borrowers have maxed out their credit cards, according to new research from the Federal Reserve Bank of New York. (The NY Fed defined Gen Z as borrowers born between 1995 and 2011, though others mark the cut off as 1996 or 1997).

As persistent (but cooling) inflation continues to impact people's finances and elevated interest rates continue to increase borrowing costs, a troubling reality has emerged: nearly one in five credit card users are now maxed out,

Both debit and credit cards have become widely popular among all of us, however, we foregt a very critical aspect regarding both the cards that they have some differences. Furthermore, we many times end up making certain mistakes that hamper our credit card score.