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A credit card is a nice thing to have. When used correctly, it can help you in emergency situations or enable you to build your credit score for other financial moves down the road. However, many people in Ohio and other states struggle with credit card debt. If you are concerned about the amount of debt you have, then it is a wise idea to understand some signs that your credit card debt is getting out of control.

According to Money Talk News, you should first look at your financial situation. If you have no extra money in your monthly budget, this is a good sign there are issues. You need to have the ability to handle emergency expenses. Along that same line, it is also a problem if you have no savings.

You also need to look at your specific credit card debt. You should know how much you owe. Too often when a person is not clear on how much credit card debt they have, it is because it is too high. In addition, if you are just making the minimum payment each month because that is all you can afford, then that is bad. A minimum payment is paying interest and not paying down your debt.

The bottom line is you have to be honest with yourself about your debt. You will probably know if it is getting to be too much. When your debt begins to control you, it may be time to think about alternative solutions. This information is for education and is not legal advice.