Credit card debt starts with the young.

• Position: YOUR LIFE - Brief article

Younger Americans not only take on relatively more credit card debt than their elders, but pay it off at a slower rate, according to a study by Ohio State University, Columbus. The findings suggest that younger generations may continue to add credit card debt into their 70s, and die still owing money on their cards.

"If what we found continues to hold true, we may have more elderly people with substantial financial problems in the future; says Lucia Dunn, coauthor of the study and professor of economics. "Our projections are that the typical credit card holder among younger Americans who keeps a balance will die still in debt to credit card companies"

The results suggest that a person born between 1980-84 has credit card debt substantially higher than debt held by the previous two generations: on average, $5,689 higher than his or her "parents" (people born 1950-54) at the same stage of life and $8,156 higher than his or her "grandparents" (people born 1920-24).

The study also did uncover some good news: increasing the minimum monthly payment spurs borrowers not only to meet the minimum, but to pay off substantially...