Americans are increasingly focused on paying down debt and saving money, according to recent credit card statistics.

This week, CardTrak.com reported that credit card debt continued to climb at about five percent for the first three quarters of 2008, only to fall considerably at the end of the year. As a result, top credit card issuers only had their combined outstanding balances increase by 0.2 percent on the year.

The report cited the state of the economy as the main reason for the change in spending habits, although creditors also impacted their own bottom lines by scaling back inactive lines of credit or closing these accounts outright.

The website also noted that credit card balances soared from $490 billion in 1999 to $850 billion in 2007, growing relatively slowly in 2008 to $854 billion.

A separate report by USA Today notes that if consumer credit continues to drop at these rates, the credit card companies could be the ones feeling the pinch for a change.

When it comes to managing your debts and protecting your credit rating, avoiding late payments is one of the simplest steps to take. If you're in danger of missing a payment, one option could be to consider a payday loan.

-----------------------------------------------------------------------