Both Confortini and Lamarre have posted on TikTok about the topic of personal finance (research shows that most Gen Z consumers Look to social media platforms financial advice (like TikTok and Instagram) and both talk about paying rent with a credit card on the platform. . Confortini estimates he made about 35 referrals over the last year.
Daniel Heppner, a 25-year-old Seattle software developer, also meets the minimum transaction requirements by charging $1,700 in monthly rent to a built card and purchasing multiple $1 Amazon gift cards (these purchases are declined). Cards are now accepted at restaurants and cafes). “Honestly, on the whole, I feel that credit card rewards are just a big scam,” he said. Given the system we live in, I’m going to get as much as I can.” Heppner said he owns about 10 credit cards and has paid them off in full. I’m here. “I don’t even know how much it’s worth trying to maximize everything. What does he get for the extra $10, $20, $30 a month?” Rewards the fact that there is funding He said it was “really unfair” in part due to interest from people who can’t pay their bills, but given how commerce works today, credit cards “are not something I can boycott.” .
For consumers who are not seeking rewards or who are unable to fully repay their balances, charging their credit cards for these costs may indicate financial shortfall. Analyst at LendingTree. “This is terrifying, especially given how quickly interest rates have risen over the past year or so.” average credit card interest It is currently at 23.55%, the highest since Schultz’s company began tracking monthly charges in 2019. In the first year of the COVID-19 pandemic, charge rent to credit card They were waiting for emergency relief funds, according to the Philadelphia Federal Reserve Bank. investigationabout 45% of Gen Z adults live paycheck to paycheck, and 62% of those who had no money to pay their bills use credit cards to cover them.