Fewer Americans fell behind on their credit card debt in July; all major credit card issuers reported decreases in both write-offs and late payments, putting credit card losses at their lowest levels this year.

Although these times of low job security and financial caution keep consumers reining in credit card debt and day-to-day expenses, the current economic climate seems to have the opposite effect.

The past few years of economic hardship undoubtedly have made Americans’ wallets smart, but according to The New American Pantry, it has also caused consumers to rein in spending and wise-up their shopping habits.

At Bad Credit Hotel, Uncle Sam’s bid at interactive credit education, visitors can explore all the ins and outs of the world of bad credit and uncover the many hidden tips on how to improve it.

Will smart phones overtake credit cards as the preferred payment method of consumers in the future? The idea of being able to make a payment during checkout, simply by waving your iPhone instead of swiping plastic has undeniable appeal.