Credit Cards - How To Know If You're In Trouble

It seems that nearly everyone in America has a credit card. In fact, the average family carries 8 credit cards around. The majority of these people have their spending under control, but for a growing number of others, credit card debt is a serious issue.

Solving the problem isn't as easy as opening up a new 0% APR balance transfer card. For many, they have dug a deep financial hole for themselves and need outside help. Well, with the holiday season upon us, you can bet that many more will go overboard with credit card use and severely strain their bank accounts. Here's a rundown of areas to look for that could be a sign that you're headed for financial problems.

1. Do you hold credit cards that are maxed out and wish they had an even higher credit line?

2. Do you only pay the minimum payment amount on your monthly credit card statement?

3. Have you missed making any monthly payments?

4. Are you charging more to your credit cards in a month than you're paying back?

5. Do you constantly apply for credit card offers?

6. Do you know what your credit card balance is or do you care?

7. Are you using one credit card to pay the bill on another card?

8. Do you openly discuss your finances with your spouse or do you try and hide the problem from them?

9. Do you buy gas, food, or other necessities with your credit cards because you're short on cash?

10. Are you finding it necessary to use your savings to help pay credit card debt?

If you've found yourself answering yes too many of these situations, take the time to resolve that this year is going to be different. You're not alone, getting overextended in your finances happens to so many others, but instead of letting it continue, put a stop to it.

If you don't know how to get your finances in shape and your credit card spending under control, then seek out some help. A debt counseling service can be a tremendous help in providing answers and solutions to the problem. Don't let credit card debt keep you down any longer.