Ten Signs of Credit Card Quicksand
There are ten early warning signs that you are deep into debt quicksand. One or two will not hurt you. More than five are already hurting you.
These are in order of increasing danger:
1. You use more than one credit card on a regular basis.2. You don't know the interest rate on each card.
3. You don't know the total amount owed on all your cards and other consumer credit accounts.
4. Your total balance owed on all cards has increased every month for more than six months.
5. You pay only the minimum payment required each month.
6. You occasionally skip payments.
7. You are near the credit limit on one card.
8. You are near the credit limit on more than one card.
9. You don't have enough money in your bank account to obtain a debit card.
10. You use a credit card to get cash advances to pay other bills.
If you are beyond point five, you need the information in my For Members Only site, Budgeting for Success.
Unfortunately, you should not join. That takes a credit card, and you should not be running up any more credit card debt. It's Catch-22. Instead, visit this site:
You should sign up for my free Tip of the Week e-letter. It may even help you get out of debt. Anyway, it won't get you deeper into debt. The subscription box is here: www.garynorth.com.