Major Trend Continues: Credit Card Debt Decreasing

This is a guest post by Bill Hardekopf, CEO of LowCards.com . A significant trend has developed since the economy weakened during the fourth quarter of 2008: consumers continue to decrease their credit card balances. According to the Federal Reserve’s G.19 monthly report released last week, the amount of revolving credit has decreased for the third consecutive quarter. In addition, the revolving credit figure has declined on an annualized basis for a record nine straight months. Credit card

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