Americans aged 45 to 54, who have credit card balances, carry an average debt of $9,096 per individual.1
The wise use of credit is a critical skill in today’s world. Used unwisely, however, credit can rapidly turn from a useful tool to a crippling burden. There are several warning signs that you may be approaching credit problems:
• Have you used one credit card to pay off another?
• Have you used credit card advances to pay bills?
• Do you regularly use a charge card because you are short on cash?
• Do you charge items you might not buy if you were paying cash?
• Do you need to use your credit card to buy groceries?
• Are you reluctant to open monthly statements from creditors?
• Do you regularly charge more each month than you pay off?
• Do you write checks today on funds to be deposited tomorrow?
• Do you apply for new credit cards, so you can increase borrowing?
• Are you receiving late and over-limit credit card charges?
“The prudent sees ...
