Lower debt a top consumer goal this year, but not through less credit card use

Consumers seem hungry to chip away at their personal debt this year but they don't want to reduce their credit card use to do it, according to a report released Friday by the National Foundation for Credit Counseling. The survey found a mere 6 percent of respondents pointed to decreased dependence on credit cards as their top financial resolution for 2012, and only slightly more - 8 percent - claimed personal savings will be their main goal. Contrastingly, nearly two-thirds of surveyed consumers - 62 percent - cited lowering their debt as their top concern this year. Additionally, slightly less than one-quarter or respondents - 24 percent - aim to improve their credit scores, which may cause lenders and card issuers to loosen their consumer credit risk management policies. "At first glance, that statistic could appear to be a warning sign of future trouble," said Gail Cunningham, spokesperson for the NFCC. "However, credit is not the problem. Instead, it is the misuse of credit that leads people into financial distress … Even though paying down debt and improving the credit score are positive steps, the low priority placed on savings is disturbing."