Once heralded as a symbol of business success, credit cards seem to be losing their sheen. Millennials and Gen Z are increasingly turning to ‘buy now, pay later’ apps that offer instant credit on even small purchases
Flashback to 2014, when I had just finished my MBA and started my career as a management consultant. My first day at the firm, I got a shiny new credit card, and I remember feeling empowered, like a knight armed with his newly forged sword. It was my constant companion in all my consulting escapades from the Middle East to South Asia and from North America to Down Under. I did not need to maintain a large cash balance in my bank account while I had my plastic Visa or Amex card. I had the ability to swipe it to satisfy all my fine dining and shopping needs. I felt privileged and I would flaunt it while going out with friends and family.