Recession Teaches Americans How to Use Credit (Finally)

by SixFigureStart | August 12, 2009

  • My Vault
Americans are pretty dumb about money. If you’re tempted to argue with that statement, just remember that we’re in a financial crisis of our own making.

The good news is, the downturn seems to be making us smarter—at least when it comes to credit cards. People are actually becoming more responsible, taking on less credit card debt and paying off their balances promptly. How do we know? Because it’s hurting the credit card companies! According to the Washington Post, Capital One Financial, the company that issues the Orbitz and MTV Visas, among other cards, is losing money in part because it’s not making as much from fees. [Read More...]

--Posted by Sara Clemence, RecessionWire.com

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