U.S. consumers born in the early 1980s are charging more on their credit cards and taking longer to pay off their balances than previous generations, according to researchers from Ohio State University. Those born between 1980-1984, known as Millennials, could owe $5,689 more in credit card debt than those born between 1950-1954. Data also suggest that Millennials may continue to charge their purchases until age 70; some could even die while still owing money on their cards. The slow payoff of the debt is a significant part of the problem. Consumers born from 1980-1984 have payoff rates that are 24 percent lower than their parents and 77 percent lower than their grandparents. Making 2 percent minimum payments on a $1,000 balance at 19 percent interest would take eight years and four months to pay off the card, but it would take one year and nine months if the minimum payment was increased to 5.8 percent.