Student debt, fear of being overextended drive down usage among young consumers.

Even as overall use creeps up, millennial consumers are avoiding credit cards, thanks to factors including massive student loan debt, The New York Times reports. The article says younger consumers are wary of spending beyond their means, but not having credit cards means they may not be able to make bigger purchases, like washing machines and computers. They also won't be building credit histories to help them buy homes. Among households headed by people 35 and under, only 37 percent have credit card debt. That's down a quarter since just before the financial crisis.

Read more at The New York Times

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