Consumers' responsible use of credit appears to be a holdover from the darkest days of the recession.
According to TransUnion data, Americans are using credit more responsibly than was the case at the peak of the credit bubble two years ago. The credit-data company, which has a database of 27 million consumer records at its disposal, reported recently that its Credit Risk Index fell for the first time since the third quarter of 2008.
The decline was small - just 0.65 percent - but it may portend future improvements in consumer credit. As Americans' personal finances improve - and as people pay down outstanding debt - credit risk should continue to fall.
Separately, analytics firm Compete polled more than 1,300 consumers about their credit card use. While the number of cards in the country has risen steadily in recent years - the Census Bureau projects that there will be 181 million in use this year - credit cards are generally not Americans' primary form of payment. In fact, a majority of people said they used credit cards for just two categories of purchases - travel and expensive items.
Consumer spending has been ticking up, and a return to credit card use may follow. For now, though, consumers are shunning their cards and playing it safe.
