Young adults may not have access to best credit cards

Younger consumers who want to take advantage of the best rewards credit card offers available may not be able to do so because of their limited borrowing history.

While many of the nation's top credit card lenders are now extending consumers more offers for rewards accounts, especiallythose that grant bonus rewards for meeting certain spending thresholds, young adults and other borrowers with limited borrowing histories may not be receiving them, according to a report from the Chicago Tribune. In many cases, those accounts are only being offered to consumers with healthy credit histories.

Consumers who have limited dealings with credit cards may have access to some rewards accounts, but those who do will typically find that these cards grant rewards and bonuses far less generously than normal rewards cards, the report said.

Using rewards accounts may lead to more credit card debt, however, as they typically carry higher interest rates than no-frills cards.

Consequently, these cards can make it difficult for some consumers to find debt relief if they're not responsible in handling the balance month-to-month.