Share 'Credit care use doubled in January'

Here’s an alarming statistic: Americans spent twice as much on their credit cards in January 2008 as they did the month previous. Thanks to the subprime mortgage crisis, people that were using home equity lines of credit are now turning to credit cards. According to Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, “There’s not much gas left in the tank.…