Credit card users are borrowing less on plastic but relying more on their mortgages for finance, according to the British Banker's Association (BBA).
Credit card lending in the UK fell by £1.8bn in 2006, the first annual fall since 1993, the BBA said.
Mortgage lending rose by £66.8bn during the same period, representing a 20% increase on 2005.
The BBA said mortgage equity release is becoming a popular alternative to credit card borrowing.
Bricks and mortar
"Rising house prices mean there is equity available to be unlocked by homeowners," David Dooks, the BBA's director of statistics said.
Mr Dooks pointed out that credit cards have high monthly costs and this has drawn borrowers to the possibility of equity release.
A decline in the number of 0% interest rate deals being offered to woo new credit card customers during 2006 is another possible reason for borrowers turning to alternative sources of finance.
The BBA takes data from the UK's major banks, including Barclays, Halifax, Lloyds TSB and HSBC.
Source: BBC News Online
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