(CNN) - 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 consumers age 18 to 29 didn't have a single credit card in 2012.
That's up from eight 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.
Fico said watching older generations get hit hard by the recession may have caused younger Americans to shy away from credit cards.
Fico adds recent legislation has also made it more difficult for people under 21 to qualify for credit cards.