The percentage of people ages 18 to 29 who have no credit cards at all rose from 9% in 2005, before the recession, to 16% in 2012, according to a data analysis by FICO. That demographic also has reduced its credit card debt, though its student-loan debt has increased significantly. The FICO report attributes the trend partly to new laws that make it more difficult for those younger than 21 to obtain cards, as well as to the effect of the Great Recession on attitudes toward borrowing.

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