Experts see return to seasonal credit card trends as positive

A number of reports have emerged recently that show the amount of credit card debt carried nationwide began to rise toward the end of last year, as were instances of late payments. But economists may see this shift as positive.

The latest data from the Federal Reserve Board indicated that consumers took on more credit card debt in November, while reports from the nation's top credit card lenders largely show that the number of late payments made on those balances ticked up as well, according to a report from American Banker. But economists largely believe that this is a sign of consumers buying into the idea that the economy is improving.

Both of these trends are likely seasonal in nature, having been observed more or less annually for years, and are viewed as indicators that consumers are gaining the financial flexibility to spend as they have in the past, the report said.

Consumers who are now reentering the credit market may want to review their credit reports before doing any significant spending, as many of these documents contain unfair, unsubstantiated, or inaccurate marks. Working with a credit repair law firm can help to address these and other issues that may harm consumer credit scores.