People have used the term “junkie” for decades to describe persons who display obvious addictive tendencies. People most widely use the term to describe consumers who are involved in excessive drinking and drug usage. However, anyone can be a junkie if he or she meets the criteria. A credit card junkie is someone who cannot control his or her desire to own credit cards. The following is a list of hints that indicate that a person is a credit card junkie. You could be a credit card junkie if you:
Can’t Close Your Wallet
A tight wallet is one of the most common indicators of credit card addiction. The average Australian consumer stuffs his or her wallet with a least two credit cards in addition to important identification documents. The total debt in the country is more than $50 billion, according to a report that Yahoo! Finance released in 2013. You may be a credit card junkie if you have more than two credit cards stuffed away in your wallet, or if you have trouble closing your wallet.
Have Creditors as “Friends”
Credit card “friends” are one of the biggest indicators of an existing problem with credit card over usage and debt. You may be a credit card junkie if your phone constantly rings because your creditors are looking for their money. Credit card junkies are extremely popular when it comes to receiving phone calls. Additionally, you may be a credit card junkie if you have to juggle your income and choose from a vast selection of cards that you want to pay each month.
Use Credit for Everything
Do you use your credit card for everything? Do you use it for clothes, fuel and morning coffee? You may want to consider an addiction problem if retailers are sliding your credit card more than three times a month. Credit cards are for emergency use and to build a credit profile. Alternative tools include debit cards, cash and checks.
Have a Frontal FICO Score
You may be a credit card junkie if your FICO score is toward the beginning of the scale rather than the end of the scale. FICO credit scores start at 350 points and end at 850 points for people who have amazing credit scores. If your score is less than 500 points for credit card debt, you may want to consider getting some help with debt recovery.
Start Your Recovery Process Today
One way that you can get out of credit card debt is by applying for a loan to consolidate it. A consolidation will make it easier for you to pay off your debt because you will only have one bill to worry about each month.
