Credit Cards

With four out of five dollars spent without using cash, the U.S. is approaching a cashless “tipping point” where paper dollars are supplanted almost entirely by credit cards, cheques and e-transfers. That’s according to a report from MasterCard Advisors, a research firm associated with the well-known credit card company. 

Key stories from the week that was.

Markets moved higher this week on hopes of a debt ceiling deal and the nomination of Janet Yellen for Federal Reserve chairman. Meanwhile, new figures on credit card spending suggest Americans remain cautious about the economy.

U.S. credit card spending declined for the third consecutive month, suggesting Americans are becoming more cautious about the economy.

Federal Reserve data showed that revolving credit, which mostly measures credit card balances, fell $883.41 million in August. The third straight monthly decline is evidence to many that all is not well with the U.S. consumer.