Although the Federal Reserve Bank reports that the number of credit card accounts has declined since 2008, we’re still putting more than $1.9 trillion a year on our credit cards, averaging at about $9,000 per household. Some feel it could be the sign of an improving economy or just a way to make ends meet, but Nasdaq.com reports that rampant credit use is most likely a psychological issue.

So what’s really driving it? The emotional transformations that people get out of buying such as self improvement, improved relationships, a newfound sense of adventure, or greater effectiveness. “Wanting new things isn’t a bad thing,” says Dr. Marsha Richens, a business professor at the University of Missouri who studies materialism, “but when stuff owns us instead of the other way around, there’s a problem.” When that’s the case, consumers can get help from organizations such as Debtors Anonymous, or perhaps…one can freeze the credit cards.

When used the right way, there are many ways credit cards can help you save money instead of just spending it. Hence, credit card rewards. KSWT.com gives a refresher list on the travel-related freebies and discounts that rewards offer such as cheaper gas, lost luggage reimbursement, and automatic travel insurance.

If you’re traveling afar, you can even avoid currency exchange fees and other fees. Also, if you dine out frequently, you can use it to your advantage to rack up on some miles. Don’t be afraid to apply for a new card that’s loaded with even fatter perks.

Your home is your largest asset, and you may choose borrow against it one or two ways: to secure a home equity loan in a lump sum or as a home equity line of credit (HELOC) to draw from as you need it. There are good reasons to borrow against your largest asset, but should it be used to pay down high-interest credit cards or for debt consolidation? Well, it depends on the person doing the borrowing.

FoxBusiness.com says first ask yourself, how’d you get into credit card debt in the first place? If it was an unforeseen event such an health issue, the loss of a job, or other events beyond your control, then a home equity loan is warranted. However, if you overextended your credit cards because of out-of-control credit card use, you may lack the restraint to rein in your expenditures, and your home could be at risk. So, you decide.

“Nicolas Cage is a perfect example of massive overspending,” says Dara Duguay, financial literacy consultant and president of Duguay & Associates. Despite earning $40 million between June of 2008 and 2009, Cage’s spending led to $14 million in tax debt and foreclosures on four of his homes. Therefore, his chances of getting a new credit card, well are slim.

Nasdaq.com mentions that foreclosures, bankruptcies and tax liens are red flags that will lower your credit score. Also, it is advised to live within your means. Other celebrities mentioned who probably won’t get a credit cards these days:

* Wesley Snipes, actor who refused to file tax returns
* Maria Gabriela Perez, Beverly Hills salon owner arrested in 2010 for allegedly fraudulently using several of her famous clients’ credit cards.

Turns out, American Express’ ban on the purchase of medical marijuana with its credit cards has reignited a longstanding debate: How much can a credit card company control what you buy? SmartMoney.com says that major credit card companies are making decisions about what they can and can’t buy with their credit cards. But, as of now there has been little pressure on card issuers to reverse their policies.

Companies have placed restrictions on other purchases such as online pornography and even bricks-and-mortar casinos. There are arguments that this infringes upon consumer rights while others feel some sympathy to companies avoiding such risks. So, as they say, “When in doubt, use cash.”

Nasdaq.com reports that out of the $222,360 it is estimated to raise a typical American child from birth to age 18, you can be getting $4,500 or about 2% percent of that amount back in the form of credit card rebates.

Whether you’re the buy-in-bulk, the penny-pinching, or the college-savings mom, there are cards that fit an array of mom-types. So maybe it’s worth the effort to switch some of your everyday spending to one of the six best credit cards for parents.

Studies have shown that people tend to spend more when they use credit cards than when they pay in cash. There are pros and cons to both, but if you need to get a hold on your spending, then the cash-only option is perhaps your best option. MoneyBuilder.com elaborates that it can curb impulse-buying, get you more bargain-buys, and of course, eliminate the financial obligation of fees you’d incur with a credit card.

With cash, you can’t report a loss as you can with credit and you’ll have to track your own expenses, but there are other credit card alternatives such as prepaid cards to fill in some gaps for services that require a credit card.

Move over points and miles rewards. Cash-back deals are increasingly being used as sign-up incentives according to results of a study from January to April 2011 conducted by Mintel Comperemedia, credit card tracking company.

Fox Business poses the possibility that some of these cash back rewards may be too generous posing a challenge for credit card issuers. “It is getting to the point where, in some cases, the incentive is so attractive that consumers may as well apply for a card to cash-in on its incentive regardless of whether they have any serious intent to use the card in the long term,” say Andrew Davidson, a senior vice president of Mintel Comperemedia. Nonetheless, now may be time to cash-in on some of these rewards.

In the third quarter of 2010, card companies sent out 1.2 billion credit card mailings, more than three times than the number they sent in 2009. According to Mintel Comperemedia, 80% of those offers were for some kind of rewards cards. Despite some of the credit cut-offs, card issuers are back at it and competing for consumers.

A number of analysts predicted credit rewards programs would end up on the endangered species list, but to the contrary, card companies are sweetening rewards programs and making it easier than it has been in years to transfer balances, reports SecondAct.com. So, find out which of the new and improved cards are most worth your while.

It’s no secret that it pays to have a good credit score, that being in the 700 to 730 range. When you do, you’re looked upon as a responsible spender with a history of paying bills on time and as a reliable candidate in repaying debts.

Therefore, having one offers you an array of rewards and benefits such as one of the most important factors of them all, low interest rates, and even some roadside assistance. E-howMoney.com shares some of the others.