Thread by @Forbes

Inside the billion-dollar plan to kill credit cards: on.forbes.com/6011H59iz

Millennials were shunning plastic and supposedly wary of consumer debt. Affirm's Max Levchin saw a way to repackage buying now and paying later for younger folks—and it’s made him a billionaire

During the pandemic, consumers have been paying down their credit cards, with the total “revolving debt” outstanding falling 11% in 2020. Meanwhile, non-revolving consumer debt grew 4%

Now that Affirm has $1.2 billion of IPO cash in the bank, what’s next? It could just be a reimagined, Millennial-friendly credit card on.forbes.com/6012H59iM