Credit Card Addiction: 5 Signs You Need to Stop Using Your Credit Card

credit card addiction

How to recognized credit card addiction

Sometimes there are signs in life. There are signs that point you in different directions both literally and figuratively, and there are signs that you need to make some life changes. One such life change is using your credit card. Debt is very real, and it’s debilitating. It’s a difficult thing to find yourself in debt, and using your credit card is something you have to stop doing. Here are five signs it’s time to stop using your card.

You’re Hiding Purchases

If you find yourself rushing home to check the mail for packages before your spouse gets home, or you find yourself hiding receipts, the credit card statement and new purchases from your spouse, it might mean you have an addiction to your card. Once you start hiding purchases that aren’t birthday or holiday gifts, you’re in a bad place.

You Open New Credit Cards

If you keep opening new cards just because you now need a card for emergency purposes, it’s time to stop. You have a problem. If you no longer have other cards you can use, it’s time to stop spending and start paying down your debt. You don’t want to open more cards to have more money to spend – it’s a never-ending cycle.

You’re Credit Cards Are Maxed Out

If you are this close to your credit card limit and panicking at the idea of not being able to use it anymore, it’s time to stop spending. And it’s not time to stop spending because you don’t have any more money to spend. It’s time to stop spending because you’ve spent too much and you’re in trouble.

You Can’t Pay Off Your Credit Cards

Not everyone can pay off their credit card in full each month, and it’s not necessarily indicative of a problem. However, if you can’t afford to pay more than the minimum balance due – if that – and the reason was not an emergency, you need to stop using the card and work hard to pay it off.

You Are in Debt

If you are already in debt, it’s a sign you need to stop using your credit card. Using it only creates more debt. And if you’re in debt, you can’t afford to buy anything else. Stop using that card and start working on a financial plan that will allow you to get back on track as soon as possible.

(Photo Illustration by Justin Sullivan/Getty Images)

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