NEW YORK – The number of Americans aged 18 to 29 who have ditched their credit cards has doubled over the past six years, CNN Money reports.

Roughly 16% of consumers 18 to 29 did not have a credit card by the end of 2012, up from 8% in 2007, according to data collected by credit score provider FICO.

As a result, credit card debt among that age group has dropped by roughly a third — from an average $3,073 to $2,087 per person.

FICO said it’s not that the consumers are eliminating plastic altogether. While they are cutting up credit cards, they are opting instead for debit and prepaid cards. 

"[T]here has been very aggressive marketing of prepaid debit cards over the past few years targeting young people and minorities," said John Ulzheimer, president of consumer education at SmartCredit.com. "So it's not a surprise that more young people are using prepaid debit cards over credit cards." 

In addition to a drop of credit card debit within this age group, FICO said overall debt has dropped among this younger group, which has brought a commensurate rise in credit scores. The number of consumers 18 to 29 years old with an excellent FICO score of 760 or higher rose from 8.6% in 2005 to 11.2% last year.

CNN said the CARD Act, which took effect in 2010 and requires consumers under the age of 21 seeking a credit card to have a co-signer or to be income-eligible, has contributed to the steep drop in qualified credit card holders among younger consumers.