With the credit crunch making it difficult for consumers to obtain loans, more are turning to credit cards to meet their expenses.  As traditional low interest home equity loans and refinancing options become less accessible many are forced to rack up credit card debt at higher interest rates.

"Government and agency statistics illustrate this troubling trend. The Federal Reserve reported Wednesday that Americans’ credit card debt jumped 6.7% in the first quarter of this year to $957.2 billion, This spike comes despite the fact that nearly one in three banks is tightening guidelines for credit cards."

From CNN Money:
Barely surviving on credit cards