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As the recession picked up steam, credit cards have become a lifeline for some to pay for groceries, utilities, even mortgage or rent payments. More than one-third of low- and middle-income households used credit cards to cover basic living expenses in five of the past 12 months, according to a

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And in more credit card news, national research and policy firm Demos found that the average credit card debt of low- to middle-income indebted households was $9,827. Credit card debt has quadrupled since 1989, the firm found in its second national survey of households whose incomes fell between 50

Even before the downturn, millions of households were experiencing difficulties meeting the most basic expenses. Now, as families experience declining home values and tightened credit markets, many are falling behind on their mortgage and credit card payments.

Cash-strapped older Americans are racking up credit card debt faster than other consumers amid dwindling retirement portfolios and rising medical costs, a study shows. The study, which will be released Tuesday by Demos, a liberal public policy group, shows that low- and middle-income consumers 65

People age 65 and up carried an average of $10,235 credit card debt in 2008, according to a study released Tuesday by Demos, a public policy research group. That's an increase of 26% since the organization's last survey of low- and middle-income borrowers in 2005. The average debt for all borrowers

Credit card debt continues to threaten the financial stability of many low- and middle-income families in the United States, hampering their ability to save and move up the economic ladder. When shortfalls arise, credit has been the only available safety net to help these families make ends meet. In

Findings Show Skyrocketing Costs, Dwindling Savings, Stagnant Wages and Medical Debt Major Factors New York, NY — As the recession continues to squeeze financially vulnerable American households, they are turning to credit cards to make ends meet, according to "The Plastic Safety Net: How Households

Debt among older U.S. credit card holders has skyrocketed since 2005, as senior citizens increased borrowing to pay for necessities, a new study shows. Since 2005, revolving debt among low- and middle-income senior citizens -- age 65 or older -- grew 26 percent. In the same period, credit card