December 17, 2013
Americans Increasingly Paying Off Their Credit Cards : Since the recession, Americans have started carrying lower balances and are paying off their balances more often (DANIELLE KURTZLEBEN, December 17, 2013, US News)
Posted by Orrin Judd at December 17, 2013 5:52 PMA growing share of Americans are regularly paying off their full credit card balances than were prior to the recession, according to data released Tuesday by the American Bankers Association. The trade group's quarterly figures show that in the second quarter of 2013, 28.7 percent of all credit card accounts were "transactor" accounts - industry-speak for accounts whose balances are paid off in full each month. That's a nearly 50 percent increase since the start of 2008, early in the Great Recession. At that time, only 19 percent of accounts were in this category.