by Alison Storm | 07/8/10

In another glimmer of positive economic news, more Americans seem to be paying their credit card bills on time. A new report from the American Bankers Association shows the number of consumers with late credit card payments fell to an eight-year-low during the first quarter of the year.

The big question is why people are paying their credit card bills more now despite high unempl0yment and lower home values. Experts say people seems to be limiting their spending and keeping a closer eye on their finances. According to statistics, about 3.88% of bank credit card accounts were past due by 30 days. The ABA says that's the first time that number has fallen below 4% since 2002. "Consumers are doing a much better job managing their finances, building their savings and spending and borrowing less," ABA Chief Economist James Chessen told CNN Money.

Other government reports show that Americans seems to be saving more, but there is still an uphill climb for millions of people. Unemployment is still at 9.5%, and more than a million Americans say they're discouraged with their current jobs.