Many are turning away from credit
Many young Americans are steering clear of credit cards.
New research from credit score provider FICO shows the number of young people without credit cards has actually doubled since the recession.
It says about 16 percent of Americans age 18 to 29 didn't have a single credit card in 2012. That's up from 8 percent who didn't have one in 2007.
As a result credit card debt is also down to just under an average of $2,100 per person.