According to the US Federal Reserve, last November saw the highest rise in consumer borrowing in the last 10 years, with an increase amounting to $20.4 billion, compared to the $11.6 billion increase that was predicted. This is a strong sign that banks are now giving loans more freely than before, and that consumers have started spending more on purchases through loans than in the recent past. Since consumer spending drives 70% of the US economy, we have reasons to be optimistic about the economy.

Credit card debt also increased by $5.6 billion during this time, and it is clear that this increase in credit card spending is benefiting the economy, as more loans mean that there is more money in circulation, leading to an increase in purchases made, and thus the income received by businesses, which in turn increases employment.

This increase in credit card spending on purchases might have been one of the reasons why the unemployment rate fell to 8.5% in December 2011, the lowest rate in 3 years, and could also be a factor that contributed to the 200,000 new jobs created during this same month.

All in all, this survey by the Federal Reserve shows that the economy is indeed improving, and that credit card spending is an important factor that’s helping the economy recover.

Since we all like to spend and at the same time earn rewards on our spending so that we can save more, I recommend the following rewards credit cards for you to boost the economy and to save more than ever through discounts and rewards.

Chase Freedom $100. With this card issued by JPMorgan Chase (NYSE:JPM), you will earn $100 cash back when you spend $500 within the first 3 months. This card also offers 5% cash back in rotating categories that change every 3 months and 1% cash back on everything else you buy. You will benefit from a 0% intro APR on balance transfers and purchases for 15 months (12.99%-22.99% APR after that). No annual fee. Chase Freedom even won a spot in DailyMarkets.com’s Best Credit Cards 2012 list.

Chase Sapphire Preferred. This travel rewards card rewards you with 40,000 points when you spend $3,000 during the first 3 months. You will also earn 2 points per dollar spent on air tickets purchased online through Ultimate Rewards and 1 point for every other dollar you spend. $95 annual fee waived the first year.

Capital One Venture Rewards. This card issued by Capital One (NYSE:COF) gives you a signing bonus of 10,000 miles when you spend $1,000 in the first 3 months and lets you earn 2 miles for every single dollar you spend on this card. $59 annual fee waived the first year.