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After adjusting for inflation, consumer spending grew 2.6 percent in the third quarter and closed in on the rate of spending not seen since the fourth quarter of 2007, according to a report from the Financial Times. In the last three months, American consumers spent almost $9.34 trillion, slightly below the rate of spending right before the recession took hold, the vast majority of which was done by taking on credit card debt.

However, consumers increased spending by putting more of their personal disposable income toward purchases, rather than by taking on credit card debt, the report said. The rate at which people spent their spare money increased 30 percent over the same figure in the fourth quarter of 2007.

Consumers have successfully cut the amount of credit card debt they carry in recent months by both cutting new purchases and paying more into their balance every month.

MasterCard, the second-largest credit processing network in the world, said its profits in the third quarter climbed 15 percent, beating many analyst predictions, according to a report from Bloomberg. This is largely because it doesn't actually deal with consumer credit card debt, but rather makes money from every debit and credit card transaction it processes.

"We are at the heart of a growth sector," said CEO Ajay Banga in a conference call with analysts. "While we recognize that the industry is changing, we're not going to simply look to see our way through challenges that may arise, but we're going to convert on the underlying opportunities that they present."

The profit was surprising because many analysts expected the company to lose ground as consumers took on less credit card debt, the report said. However, Americans often used their debit cards instead.

Many consumers have tried to decrease their credit card debt in recent months because they're fearful it may have an adverse affect on their financial futures.

Both delinquent and defaulted credit card debt declined sharply in September, indicating consumers are having a better time paying off their bills, according to the latest Credit Card Index from Fitch Ratings. Delinquencies in general fell to a low not seen in two years, with accounts that were 30 days behind dropping to 4.61 percent, while those that have gone 60 days without payment fell to 3.5 percent.

Meanwhile, defaults – the rate at which lenders wrote off seriously delinquent credit card debt as irretrievable – fell to an 18-month low, the Fitch report said. After a slight rise in August, the charge-off rate dropped to 9.22 percent in September, and was 14 percent lower than the same period last year.

Many financial experts say rates of delinquency are an indicator of future charge offs, so for both types of accounts to continue to slide may signal consumers are having an easier time paying down their credit card debt.

Credit card skimming, in which thieves attach a device that reads and stores all information to a normal card reader, then uses it to compile fraudulent credit card debt in other peoples' names, has become a new trend among criminals, according to a report from Information Week. The U.S. Secret Service estimates that such scams have cost businesses and consumers $8 billion this year alone.

There's currently little banks can do short of canceling the stolen cards and issuing new ones to victims, the report said. However, in the near future, many issuers will begin distributing a new type of card that allows greater authentication methods when a consumer wants to take on credit card debt to make a purchase.

The most likely kind of card that could be distributed is one that stores consumer data on a microchip rather than a magnetic strip, and requires a PIN before it will allow the user to take on more credit card debt.

Because balances on gift cards don't work in the same way traditional credit card debt does, Congress included rules stating that a gift card must carry information on its expiration date and fee rules on its packaging. But these rules also allow retailers to keep cards with the old, information-free packaging on the shelves until January 31, 2011, as long as they were produced before the law was finally passed, Consumer Reports said.

Congress was successfully lobbied by Network Branded Prepaid Card Association, which argued that making the rules effective immediately would result in companies destroying 100 million cards "needlessly," the report said. As a result, consumers should be on the lookout for old cards without the federally-mandated information before they take on credit card debt to purchase them.

Prepaid gift cards for certain retailers are popular gifts around the holiday season, but many carry expiration dates that some consumers may not be aware of.

A Schumer Box is a legally required part of a credit card agreement with information, in at least 18-point font, on everything from an account's interest rates to its annual fees and introductory offer periods. But according to a report from Forbes, all that information can still be confusing.

For example, some agreements will display that a card's APR for purchases is a certain number, followed by an asterisk, the report said. Typically, this is because the card's interest rate varies in relation to the nationwide prime rate, though that's only explained in the fine print. In addition, all aspects of cards' rewards programs, which aren't covered by the Credit Card Accountability, Responsibility and Disclosure Act, aren't explained at all.

Despite the introduction of the Schumer Box, consumers should always carefully study every credit card agreement they sign so that they know exactly what happens with their accounts.

Because credit card debt is compounded annually, there are a number of factors that will affect any amount owed to a lender, according to a report in the San Francisco Chronicle. That $5,100 may not sound like a tremendous amount of money, but when a consumer finally pays it all off, it can add up to considerably more than that.

Given that the average interest rate on credit card debt is currently 16.75 percent per year, a balance of $5,100 costs a consumer $2.34 a day just in interest charges, the newspaper said. Over the course of a month, that adds up to $70.20, meaning that unless a consumer is paying that much when the bill arrives, they owe more to the lender than they did at the beginning.

When paying their credit card debt, consumers should attempt to pay more than the minimum so that they can reduce their total balance more quickly.

AT&T customers will soon be able to charge purchases made online to their existing wireless bill.

The cellular service provider recently partnered with BilltoMobile to roll out its Direct Mobile Billing payment service, which allows customers to make purchases with their smartphone that will then show up on their monthly cellular service bill, rather than on their credit card statement.

"We're excited to collaborate with AT&T and offer their customers the benefits of a convenient, user-friendly mobile payment solution," said Jim Greenwell, CEO of BilltoMobile. "This form of billing is the logical next step in the e-commerce mobile payments landscape that BilltoMobile and our strategic investor, Danal Co., have pioneered for the past several years."

The service requires no registration, setup, or application. As a result, consumers don't have to send the company any sensitive information such as account numbers, but rather can make the payment when they receive their phone bill.

As consumer demand for more convenient payment processes increases, many cellular service providers are likely to offer billing options that can be completed on a smartphone.

Major retail chains and credit card issuers alike are boosting their rewards programs to draw consumers into taking on credit card debt with them, according to a report in the Dallas Morning News.

"Name a big chain and you'll find a discount deal," David Robertson, publisher of credit card industry publication The Nilson Report, told the newspaper. "Coming out of the recession, every retailer is holding a hat in hand with a discount."

For example, Target stores now offer consumers a 5 percent discount on all purchases made with its REDcard debit and credit accounts, and Toys R Us will soon add a 10 percent back offer to its loyalty program for purchases up to $500. Similarly, Chase Freedom cards give consumers 5 percent back on all purchases at department stores, supermarkets and movie theaters, up to $1,500, through December 31.

Some chains and lenders are even joining together to offer greater rewards, the report said. U.S. Bank and supermarket chain Kroger recently announced they would introduce a new program for their 1-2-3 Rewards MasterCard or other store-branded credit or debit accounts. Consumers will now earn points, which could be redeemed for free groceries, whenever they take on credit card debt at the supermarket.

Kroger, as well as other grocery store chains it owns, is also offering double points on all purchases made with its credit cards at their locations, and triple points for store-branded items, the report said.

However, the increase in this type of rewards card has had little bearing on the popularity of existing programs, such as airline miles, the Reuters report said. Accounts that give users free miles for every dollar of credit card debt they compile are particularly popular with higher-income consumers, and those who travel a lot for business. Typically, they still use these miles to upgrade their flights and perks.

Many consumers enroll in credit card programs that will give them rewards, but before doing so, it may be a good idea to research a number of comparable offers to determine which will give the best value of rewards per dollar of credit card debt.