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The Boston Globe

Business

More young adults avoiding credit cards

WASHINGTON — Charlie Frohne never wanted a Visa or a MasterCard, afraid of incurring debts he could not repay. But as the 30-year-old searched for a Manhattan apartment, he found landlords treated his lack of a credit history as a liability.

His experience highlights a growing reluctance among young adults to use plastic for everyday purchases. Thirty-nine percent of undergraduates ages 18 to 24 had a credit card in 2012, down from 49 percent in 2010, a Sallie Mae and Ipsos Public Affairs survey found.

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