Office of Student Aid : Loans : Managing Your Loan Debt : Credit Card Basics : Ten Credit Card Warning Signs

You may be heading for financial trouble if any of the following statements apply:

• You make only the minimum payments on your credit card(s).
• You have more than two major credit cards.
• You are using one credit card to make payments on another credit card.
• You are at or near your credit limit on your credit card(s).
• Your average credit card balance is greater than $1,000.
• You are unsure of the total amount you owe on your credit card(s) and other debts (i.e., student loans).
• You tried to make a purchase with your credit card and were denied--or--you have been denied other credit.
• You are spending 15% or more of your monthly income on credit card payments.
• After you pay your monthly credit card bill, you increase your balance by the amount you paid on your bill (or more) the following month.
• You lie to family members about your spending or hide credit card statements.

If you are having trouble making the minimum payments on your credit cards or feel that your credit card debt is overwhelming, you may want to speak with a credit counselor. To find a credit counselor in your area, contact the National Foundation for Credit Counseling.