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12-Sep-2016 14:13

There are, admittedly, external factors influencing the statistics.

An April 2014 Gallup poll found Americans' reliance on credit cards, in general, has declined steadily since the Great Recession.

New payment methods aren't the sole reason millennials have been turned off of credit cards.

Millennials "grew up in a world where the economy was tanking," says David Pommerehn, senior counsel with the Consumer Bankers Association.

the idea of having a credit card (is) far less valuable," says Lindeen of credit solutions provider Zoot Enterprises.

"It's not so much (that millennials are) anti-credit card, but it's more the risk of debt" they fear. Bankrate's survey found that millennials who do have credit cards aren't as good at paying down their bills as other demographic groups.

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Comparatively, only 35 percent of adults 30 and over don't have credit cards.

They are also the key to securing home, auto and other loans at affordable rates.

Bankrate's community sharing policy Bankrate wants to hear from you and encourages thoughtful and constructive comments.

"There was great concern about jobs and debts and paying off bills."At the same time, college costs -- and subsequently student loans -- have ballooned.

According to the Project for Student Debt, student debt increased an average of 6 percent each year from 2008 to 2012, with college graduates from 2012 having an average student loan debt of ,400."When you look at that and the implications of the ability to repay ...

Comparatively, only 35 percent of adults 30 and over don't have credit cards.

They are also the key to securing home, auto and other loans at affordable rates.

Bankrate's community sharing policy Bankrate wants to hear from you and encourages thoughtful and constructive comments.

"There was great concern about jobs and debts and paying off bills."At the same time, college costs -- and subsequently student loans -- have ballooned.

According to the Project for Student Debt, student debt increased an average of 6 percent each year from 2008 to 2012, with college graduates from 2012 having an average student loan debt of ,400."When you look at that and the implications of the ability to repay ...

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