1. If you spend more than 50% of your credit limit every month, this indicates to the Credit Bureau that you do NOT have enough cash on hand to meet your monthly expenses. This will term you as a high credit risk and will actually reduce your credit score by 60 - 70 points overnight (Fair Isaac).

2. If you miss 1 or 2 payments on your credit card debt, the issuing company will skyrocket your interest rate to a whopping 27% - 30%!

3. Out of a random sample of 3 million American consumers (included in Experian's National Score Index), 51% of them have atleast 2 credit cards and 14% of them have 10 or more credit cards.

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15 Signs Indicating You Need Credit Counseling or Debt Help

(April 10th, 2007)

Many people with huge debt loads to pay off will probably try cutting down on their spending and put more emphasis on paying off their debts. They will also keep a close watch on their spending habits and cut down on unnecessary purchases. Just like losing weight, some people will be successful in debt reduction all by themselves. However, there's many other people who need the help of a personal trainer, or a professional credit counselor to be precise. Here are 15 signs indicating you need help from a professional credit counseling firm:

1) Your credit card debt load increases every month, while your income is falling. You have more and more debt to pay off each month, while little or no savings.

2) You are making only the minimum required monthly payments on your credit card debt.

3) You apply for new credit cards and make use of cash advances (payday loans) from these cards to pay off existing credit card balances.

4) You have a wallet full of credit cards, probably more credit cards than a Gambler with Poker chips.

5) You are maxing out your credit limits on your multiple credit cards each month. Or, you are very close to reaching the limits.

6) Each month, you charge more debt to your credit cards than make payments towards them.

7) You work extra long hours (overtime) to keep up with your credit card debt payments.

8) You are afraid of opening your credit card statements each month and you don't want to know how much you owe.

9) You have received phone calls from debt collection agencies demanding payments of debts owed.

10) You are using your credit card to pay for important necessities such as groceries, rent/mortgage, car gas, clothes, etc.

11) The purpose of your credit cards is for purchasing daily necessities and NOT for emergency funds (for a rainy day).

12) You are taking money out of your savings account or your 401k or Roth IRA to pay for your monthly expenses.

13) You are hiding your true monthly purchases and bills from your spouse.

14) You are desperate to sign up for credit cards and will fill out any unsolicited credit card application that comes to your mail.

15) You are just about to lose your job, or have lost your job and are worried about how you will be able to keep up with your monthly expenses and bills.