Credit card company says that consumers are less afraid of debt
As consumers use their credit cards more often, the use of debit cards is declining. This is a reversal of the trend that we saw after the financial crisis in 2008, when $141 billion of credit card spending was shifted to debit cards. When the economy was bad, people paid with debit because they were afraid of credit card debt. With the current economy, this is less of a fear.
Although the economy is doing well, there are still many people in Florida who cannot make their credit card payments. If you are looking for a fresh financial start, you may want to consider filing for bankruptcy. Bankruptcy may be able to eliminate your debt. An lawyer may be of assistance in this area.
Source: The Street, “We’re Using Our Credit Cards Again, Because We’re Feeling Better,” Brian O’Connell, Sep. 19, 2013