Young Adults These Days Less Likely To Have A Credit Card

According to a recent nationwide survey conducted by Bankrate, young adults in this country (people under the age of 30) are far less likely to carry a credit card - let alone even own one.

Janine Skowronski, who's a credit card analyst with Bankrate, thinks it may have something to do with the recent economic slump the country experienced.

"In the years leading up to the financial bust, many Americans loaded up on credit cards.  Their children noticed when parents got into difficulty.  Now, many of those kids are young adults are are debt averse."

The survey found 63% of "millennials" (those between 18 and 29 years of age) have zero credit cards.  Whereas, most people over the age of 30 have at least one.

Skowronski goes on to say,

"On top of what they saw, many of today's younger adults have massive amounts of student debt that they have to pay off, and they're worried about that."

To read more on the study, CLICK HERE.

(Information courtesy of ABC Radio News)