Consumers may be starting to pay down their collective credit card debts. Analysis of RBA data on payment card and credit use, by Mike Ebstein of MWE Consulting, shows aggregate credit card balances fell by $14 million to $44.4 billion during July. Ebstein noted that this trend was contrary to the month-on-month pattern of the last three years when balances increased by an average of 0.3 per cent. He noted that the growth in credit card spending was similar to the 2007 pattern.He said growth in credit card balances on an annual basis, at 9.8 per cent, was just over two-thirds the rate of a year ago and the lowest level in this series since 1993.