The generation known as “Millennials” have been a hard market for credit card companies to crack. As opposed to older generations, those born between 1981 and 2000 are relatively reluctant to use credit cards, with half of them opting to carry only one credit card. Older generations, on the other hand, are more likely to carry several credit cards.

There are a lot of reasons for this, and credit card companies are getting better attuned to these reasons as time goes on. As a result, they are trying new techniques, with some success, that are designed to draw in Millennials.

For example, many companies are offering rewards and other incentives, but without annual fees and other costs. This is because modern young adults tend to take longer to get established and, thus, are more conscious about their wallets. Some companies offer options that are very simple to understand and that, conveniently, pair nicely with other digital financial tools, like PayPal, which Millennials love.

Other companies have taken to offering Millennials a unique experience, such as rewards related to a major music concert, while still others pair up with retailers who have established themselves as essential to the Millennial way of life. For example, Visa offers a rewards card that works at Starbucks.

What this means is that some young adults in the Louisville area, after time, could find themselves needing to discharge credit card debt through a personal bankruptcy. After all, the more people who sign up for credit cards and use them, the more likely it is that some people will fall behind in their payments.

People who actually finds themselves in this sort of situation should not feel badly, as it can happen even to the most careful of people, especially in the event of an unexpected job loss or a sudden medical expense. Instead, they may want to explore their options with a bankruptcy filing.