• by Karl Greenberg , September 8, 2010

Consumers are using credit cards less according to a new study by Javelin Strategy & Research. The study says the recession has produced a "risk-adverse, cash-hoarding cautious consumer." The report, "Payment Card Issuer Strategies 2010: The Rise of the 'Cautious Consumer'", found that consumer credit card use is at an all-time low because of alternatives like reloadable prepaid cards.

Per the firm, credit card use among consumers decreased 31% between 2007 and 2009 and that if that trend continues through this year credit card use will fall below 50%.