Thought Millennials Hate Plastic? Well, Not All Plastic

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Thought Millennials Hate Plastic? Well, Not All Plastic

Sep, 16th 2016

It's official: The Chase Sapphire Reserve has gone viral.

JPMorgan Chase, which launched the credit card just a few weeks ago, told Bloomberg it approved "tens of thousands" of applications in the first two days--despite the fact that it carries ... wait for it ... a $450 annual fee.

But what's really interesting about this story is who wants these cards. According to Chase spokeswoman Lauren Francis, the majority of cards are going to Millennials.

Say what? The same Millennials who are (supposedly) much less interested in credit cards than their older counterparts? Just last month, The New York Times reported that Millennials "aren't pulling out the plastic" like previous generations, under the headline "How Millennials Became Spooked by Credit Cards."

Take a closer look. The Times continues:

Data from...

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