A growing number of young adults say they are reluctant to apply for and use credit cards. According to a Sallie Mae and Ipsos Public Affairs survey, 39% of undergraduates ages 18 to 24
owned a credit card in 2012, down from 49% in 2010. Even young adults who do have credit cards are carrying smaller balances. But avoiding credit cards also means no credit history that helps finance
homes and cars, critical to economic growth.
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