The credit crunch has obviously taught people in the UK a hard lesson, which is now impacting positively on them. Whereas most holidays and festivals were often preceded by huge debts accumulated on credit cards and other sources of credit, this summer is promising to be much different.

As banks and lenders in general worked very hard in the last six months to toughen the requirements for lending, borrowers were also becoming more conscious of the need for them to be responsible borrowers.

Starting with Egg, which withdrew a number of credit cards from its customers, to other lenders that slashed credit limits, it became obvious that tackling the menace of the credit crisis, which remains insurmountable up until now, was a two-pronged battle.

While from one end lenders were tackling it in a bid to play their role responsibly, borrowers were also giving a good account of themselves, hoping not to be seen as helping to make matters worse for everyone.

Recent reports, on the contrary, suggest that banks and credit card companies were approving the plastic generously, with little regard for such protocols as credit check or proof of income. At least £17 billion worth of credit cards were said to have been issued in this manner. At present over 4.8 million cards have been approved with an average of more than £3,000 credit limit, revealed a uSwitch.com study.

This seeming generosity notwithstanding, it was equally found that more credit cards applications were being rejected and the total in each month was put at more than half a million.

But lenders may not need to overstretch the toughness of their rules as British holidaymakers, according to research, have devised a new means to avoid overreliance on the plastic. They no longer want to travel without extra cash on them and at least £1 billion will be taken with holidaymakers abroad. This means they will have with them an average of £200 more than they had last year.

The main reason for this change in attitude, said the Travelex.co.uk, was that holidaymakers were willing to avoid overspending and running up huge debts on credit cards.

The survey further found that up to six-in-ten people said they had overspent on credit cards while on holiday in the past and wanted to stay within their budget by taking cash.

Nearly 28 per cent of people, according to it, also said they wanted to cut cost of their holiday by spending cash rather than using their credit card, while others were concerned about the fees charged on using the plastic abroad.

Experts in the industry, surprised by the decision, paid tribute to Britons who were still travelling abroad on holiday but were controlling their spending. “It’s interesting to see this change in the behaviour amongst British holidaymakers,” said UK retail director at Travelex.co.uk, Anthony Hudson.

This is a very positive change in spending attitude, which needs to be sustained so as to change the general impressing that people in the UK are willing debtors. Debt, if it must amassed, should be taken out for the right reasons and at the right time.