Credit is an everyday, and often essential, part of young people’s lives. Gaining access to credit for the first time is an important transition to adulthood that can enable you to study, earn and invest in your future.
Previously, most people’s first taste of debt was either a loan for university fees, a student overdraft or a credit card. Younger generations are now much more likely to use new forms of credit such as buy now, pay later (BNPL) – a kind of credit often offered at online check-outs that allows people to borrow the cost of their shopping and repay it in instalments.
