It now looks like there will be even more trouble ahead for consumers as additional credit card companies pile on loan loss provisions for an increasing number of deliquences. American Express led the pack last week but now at least two other credit card companies have added their names to the list - most recently Capital One. The problems are affecting all people too: Capital One's modest incomes to Amex's affluent incomes. And we have also already begun to see the effects of the crunch during the December shopping season...

From Forbes:
What's in your wallet? If you're a Capital One credit-card customer, it might be plastic but not cash. The credit-card company said Thursday that its 2007 earnings will fall short of previous expectations due to loan delinquencies and additions to its reserves during the fourth quarter. The company said it is reserving $1.9 billion for loan losses in the fourth quarter, approximately $1.3 billion of which are charge-offs.