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Consumers who don't want to take on credit card debt when they sign up for the new PlayStation Plus plan can now just go to their local Target store, where Sony is selling membership cards that can be paid for in cash, video game news site Joystiq reported.

In addition to the ability to avoid credit card debt, the new product also allows gamers to gain access to video games before they go on sale, exclusive discounts on downloadable content, and the ability to try full versions of games before they purchase them, the site said. The plans to release the card were announced in June.

Many video game companies, such as Steam service operator Valve, have recently announced or started similar programs to this, aimed at holiday shoppers and young children who don't have the ability to take on credit card debt themselves.

While many financial experts have long credited these declines to consumers being wiser about how much credit card debt they take on and pay off every month, some are now wondering whether another reason exists. The New York Times said that many are increasingly of the belief that an increase in charge offs, credit card debt lenders believe they will never recoup, could be the real culprit.

"There is a lot of debate going on right now among economists" Cristian deRitis, the director of credit analytics with Moody’s, told the paper. "Is there truly deleveraging or are charge offs removing a lot of balances?"

Another possible reason for the declines, which is related to charge offs, is that many consumers may have seen their rating decline so sharply that they can no longer get approval from lenders on applications, and therefore are unable to take on credit card debt as they once did.

Many college students are piling up credit card debt, and quickly, according to a report in the Columbus Dispatch, which cited statistics from Sallie Mae. Many students are now taking on credit card debt to pay for things like tuition and other expenses related to attending college.

The report said that while it may be advisable that students carry one card in case of emergency, having more can sink them in serious financial trouble. The average undergraduate carries 4.6 accounts in their name, and over $3,100 in credit card debt. College seniors have even more debt, as well – about $4,100 on average.

Many experts advise that parents should talk with their children about issues related to their finances so that the kids have a better understanding of the peril they can find themselves in if they spend irresponsibly.

While many people may imagine the regular gamer as being a male in their teens or early 20s, it turns out that the average person playing so-called social games – in which they can show off their accomplishments and help friends – is a middle-aged woman. According to a report from CNN Money, recentstudies have found that millions of older women have taken up gaming and are happily taking on credit card debt to upgrade their experience.

This has left companies scrambling to add premium upgrades to otherwise free games, and they're cashing in, the report said. Older women are not only taking on credit card debt to buy things for their accounts, but they're doing it for their kids as well.

One social game that has grown popular with all demographics is Farmville, in which a user maintains a few acres of land, harvesting crops and caring for livestock.

According to a new survey from Oracle, entitled Opportunity Calling: The Future of Mobile Communications, 31 percent of respondents said they expect to use their smartphone instead of conventional payment methods to take on credit card debt by 2015. In addition, 58 percent of consumers said they would prefer to do this within a few years.

But with the increased demand for convenience of payment come concerns about privacy, the survey found. While 61 percent of consumers said they would at least try taking on credit card debt with their smartphone, only 33 percent liked the idea of receiving targeted advertisements using information culled from those purchases.

Several banks, such as Visa and Bank of America, are already testing payment methods that allow consumers to take on credit card debt through their smartphones in major cities across the country.

Major League Baseball is currently testing a new system that will allow consumers to take on credit card debt in exchange for having their peanuts and Cracker Jack delivered straight to their seats, according to a report in the Philadelphia Inquirer. The new program, which is being tried out at the Phillies' home field, Citizens Bank Park, allows people with the MLB At Bat 2010 app for their iPhone or iPad to order food without getting up.

The report said the transaction will lead to a few additional dollars of credit card debt than if they got the food themselves, but fans can order everything from sandwiches to beer through the app, and it will be delivered within 30 minutes.

Several ballparks across the league already allow consumers to take on credit card debt when ordering food from their seats, either through concierge services in premium sections or through programs similar to this one.

When someone's credit card information is stolen, that data often winds up on hacker websites where it's traded and sold, according to a new report from security expert Brian Krebs. The cost of details for consumers in the U.S. is just $1.50, and $4 for those in the United Kingdom, but that's a small price to pay for the ability to make purchases and stick someone else with the credit card debt.

In addition, identity thieves can buy more information for a few dollars more, Krebs said. This would allow them to open accounts in that person's name and leave them with even more credit card debt they wouldn't even know about unless they ordered a credit report.

When consumers are hit with fraudulent credit card debt, experts advise that they contact both the financial institution and local law enforcement, including their district attorney, about the problem.

American Express partnered with software developer Federated Media to produce its new Currency program, which is designed to give young consumers advice about their finances, including how to reduce their credit card debt. In addition, the companies launched an iPhone app that allows users to share financial advice.

"With Currency, we have brought together best-in-class partners, a youthful point-of-view and voice, and a rich, innovative social media platform to help empower visitors to the site with the knowledge and savvy it takes to attain financial success," said Pepper Evans Roukas, an American Express vice president.

The service also features columns from 25 of the nation's top personal finance writers, giving advice on planning and savings, spending and "big decisions," the company said. This can help them rein in habits that could lead to credit card debt.

Many young people face financial trouble soon after leaving college, as the average student graduates with several thousand dollars in credit card debt.

According to a new report from the Tulsa World, which cited statistics from an American Express survey, consumers have opted to put more of their money into savings, rather than committing it to reducing credit card debt. In addition, fewer said they planned to spend less in the next 30 days than they did in the same period last year.

Concentration on reducing credit card debt slipped to consumers' second priority, the report said. Meanwhile, a loss of income, concern about depleting savings, and worries about job security were also listed as reasons for the declines in spending.

Many consumers have been forced to spend large portions of their savings as the national unemployment rate remained unusually high in recent months. As a result, they may have also begun to make ends meet by taking on more credit card debt.