Something strange is happening to our credit card spending habits. We're becoming prudent and sensible. In every other recession since credit cards first started filling our wallets, there has been a sadly predictable turn of events. A significant number of consumers overspend during the good times, and are then overwhelmed by debts when the economy turns down, and job losses mount. What the finance industry calls "delinquencies and impairments" shoot up and personal bankruptcies spiral. But it hasn't happened this time. I met the boss of Barclaycard last week, Val Soranno Keating, dubbed the "Queen of Cards" because she controls an organisation that has 12 million credit card customers. She tells me that, rather than rising dramatically as expected, arrears and defaults have done completely the reverse, and are close to record lows. Instead, a grand substitution is taking place: cinema instead of theatre; fast food instead of restaurants; and public transport rather than cars. The huge rises in gas, electricity and petrol bills are taking their toll. Every time petrol prices surge, consumers cut back in other areas. An interesting relationship now exists between petrol prices and sales of electrical goods, such as TVs and computers. When petrol prices fall, almost exactly three months later consumers feel better off and buy a new flat-screen telly. The reverse happens when petrol prices rise -- which may explain why Comet is on the brink of going bust. Barclaycard says it has seen spending at fast food restaurants rise 27.4% over the