This Week in Consumer Web -- Who Needs a Credit Score When There's Klout

Your Klout score tells the world the power you have online. It shouldn't be long before the same principals behind traditional electronic spending can be applied to online influence

Starting in January 2011 the IRS is no longer mailing paper filings for taxes, credit card spending has hit a 31 year decline while debit card transactions have increased nearly 7.9% overall. It’s estimated that credit card usage will drop below 50%while frauds drops quickly due to new detection systems. Consumers are using less credit and wanting less credit. In a world where traditional credit has evaporated, consumers have changed not how they spend money but how they perceive and attain credit- this time without banks.