Economists and financial experts, right from the onset of recession, have been waiting for Americans to start spending on the credit cards again. After a long wait, this year has seen an improvement in the spending habits of consumers, who are willing to pull out their cards to pay for their purchases.

In the first quarter of 2011, almost all major credit card lenders including American Express, Visa and MasterCard declared an increase in the card usage. It is not just consumer credit cards, but also business credit cards that are being used liberally.

HIS Global Insight’s senior economist, Gregory Daco, said that the dust that had settled over credit card usage in the past is now coming off. Though consumers are willing to spend using their cards, they are making progress cautiously.

Over the last few years, the increase in fuel prices and unemployment rates coupled with housing crisis had led to an economic downturn that not just impacted the US, but the entire world. However, with the recent improvement in the economy and better job opportunities, an increasing number of Americans are willing to increase their spending on credit cards.

The latest data in the revolving credit segment shows an increase of 2.9% in March 2011 as compared to February 2011. The previous increase in this segment was observed in December 2010. Though the card usage is experiencing recovery, many financial analysts, including Daco, feel that the increasing fuel prices and the fluctuating market, may throw any progress off-track.