Love Affair With Credit Cards Is On The Rocks

The Discover U.S. Spending Monitor recorded its third consecutive monthly decline in January, falling more than four points to 86.1 as economic concern continued to grow and post holiday spending intentions moderated.

Both the economic and spending components of the index reached new lows in January as just over 70 percent of consumers now think the economy is in decline and 48 percent feel the same way about their personal finances.