Life without credit is an ideal life. No credit card bills on your mail box. No identity theft related to credit cards to worry about. All you need is cash. But not to some people. Credit card is an immediate value that has the power to buy many items, such as needs, without carrying cash. Others don’t have cash yet and so they charge to their credit cards and would take care of the bills upon pay day. Sometimes this can happen many times until the bills are stacked and there is no way to pay for everything.

In November 2009, Consumer Reports survey concluded with the following results: 1/3 of Americans who not have credit cards and only a little than half of the entire group of American credit card holders pays their balances in full. The National Score Index of Experian reported that one out ten consumers have more than ten credit cards with them in their wallets. The average credit cards number per consumer is four.

Those instant facts indicate the frequent use of credit cards. But lately the Federal Government has seen a decrease in the use of credit cards in the United States. The trend was continuously reducing, making it obvious that credit is being abandoned by consumers. Study also showed that credit card companies are seeing smaller percentages of defaults, meaning people are starting to be responsible with their debts, which is really good news. About four million credit card accounts have already dropped since the last quarter, the study says. Customers have gained more ability to settle their credit card bills and go free. However, according to the National Bankruptcy Research Center, about 139,000 consumers filed for bankruptcy in July to relieve themselves with their credit card debts. Despite the report that credit defaults, many consumers chose to just have nothing so they can dissolve their debts. It was further concluded that the bankruptcy files may increase at the end of the year.

Credit card companies remain to go strong. They still hand out their MasterCard credit cards for those who have just paid up their entire credit accounts. There are even secured credit card offers to those who are bankrupt. Also some credit cards for people with no credit history, and so on. Business has to go the usual. Many people would want to leave credit behind and move on, but as they open their mailbox, new credit card offers appear. As long as there is a market, there would be credit.

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