Eventually people, there is some good news.  Data for the first quarter has revealed that credit card customers are handling their debts better, despite unemployment being at an all time high.

Long-term data shows that second-quarter payments are more likely to be made on time than payments in the first quarter.

The Credit Card Act started to kick in last week with rules that require banks to warn consumers 45 days in advance before raising interest rates, and to give them an option to close accounts and pay down balances at the old rates. Banks also have to give consumers 21 days to pay their bills after sending out statements. I think this is a great idea.

The big question is – will consumers be able to keep with their payments?