More credit card debt might be good for the economy
News from USA Today:

By Paul Davidson, USA TODAY

No one wants Americans to return to their charge-now, pay-later ways.

Burke/Triolo Productions, Getty Images/Brand X

But with 70% of the economy tied to consumer spending, a little more plastic and a little less caution might not be a bad thing.

While consumers are using their credit cards a bit more lately, they largely remain tight-fisted, according to a recent Federal Reserve report.

“What we’re seeing is a return of consumers to their credit cards but a very slow one,” says economist Gregory Daco of
… Read the full article

Related News:

Consumers paying down debt more slowly
News from Chicago Sun-Times:

A shopper pulls a credit card from her wallet to make a purchase at Best Buy in Mechanicsburg, Pa. l AP photo/Carolyn Kaster, file

Consumers may be breathing a bit easier as they pay down less of their credit-card debt than they did a year ago, and they are expected to accrue more debt by year-end, according to a survey released Thursday.

Consumers paid down $ 32.4 billion, collectively, of their credit-card debt in the first three months of this year, or 26 percent less than the same period last year, said, a credit-card comparison Web site that issues debt studies. The study forecast that consumers will …………… continues on Chicago Sun-Times

… Read the full article