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Consumers Cutting Back On Credit Cards

According to a new study from the credit bureau, TransUnion, there are as many as eight million credit card accounts that are deemed “incactive” today. The inactive accounts are believed to have contributed to the 24.6% decrease in U.S. Credit card delinquency rates.

The majority of the inactive cards were in the “high risk” category but consumers in every category have been cutting back and using credit cards less.

Cash and debit card use has increased while the use of credit cards has declined contributing to softer profits for the credit card industry.

Read about it at “TransUnion: Eight Million Credit Cards “Inactive”.

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