A recent release by the credit card reporting agency TransUnion indicates that more and more U.S. citizens are dropping credit cards as a form of payment for general purpose shopping. Additionally, the report finds that credit card delinquencies have fallen steadily over the past few years, and are now at the lowest they have been since 1999.

"In 2009, well over 70 million consumers did not have an active, general-purpose bank issued credit card," said Ezra Becker, vice president of research and consulting at TransUnion's financial services business unit. "During the course of one year, more than 8 million additional consumers joined these ranks, making it one of the fastest growing consumer segments."

He added that consumers may still use credit cards for some expenses. The fall in delinquencies can be attributed, in part, to an increase in money management skills and "significant effort" by consumers to keep their credit score in good standing.

The study showed that both high and low-income card holders are making efforts to decrease their dependency on credit cards.

According to MSNBC, one of the best ways to eliminate credit card debt is to create a budget and strive to use personal finances, rather than plastic, to make purchases.