Some experts in the financial industry feel that the new rules of the CARD act and better management of credit cards by customers has led to the decrease in the usage of credit cards. The President of Best Advantage Credit Union based in Brillion, Tammy Williams, said that the overall trend definitely shows that customers are using their cards less frequently.

One of the surveys conducted during the shopping season in 2010 has revealed that an increasing number of customers used cash for making their purchases as compared to credit cards. One of the reasons, that experts feel, may have reduced credit card usage is the fact that most American credit card holders are still repaying the debt of $13 million amassed in 2009. However, most of them who shopped online for gifts did use credit cards for their purchase.

Associate Professor for economics at Milwaukee’s Wisconsin Lutheran College, Brian Jacobsen, said that some customers lost access to credit cards after the implementation of the Credit Card Accountability, Responsibility and Disclosure Act which was brought into effect to benefit card holders.

He also said that while people are becoming increasingly aware of the drawbacks of excessive credit card usage, even lenders are getting smarter while issuing credit cards. Jacobsen also says that credit card issuers, as well as the consumers, are responsible for abuse of credit cards. He also stated that neither the lender nor the customer can survive without each other. While lenders have to stay within permissive levels while coming up with offers, customers also have to exercise caution while choosing credit cards, he says.