Credit card debt is growing worryingly in the United States, and many don't know when their balance is already getting out of control. role. Imagine that you have several cards and each month you only pay the minimum. At first it seems manageable, but with interest that exceeds 21%, even or $500 dollars can quickly become more than $600 or $700 dollars in a few months. With examples like this, begins the question: how do you know if your d Is your debt already too big? Here we tell you some professional perspectives and practical recommendations to prevent these debts from consuming you.

According to experts, there's no magic number that applies to everyone, but a good starting point is to look at what percentage of your total credit you're using.

“It must be below 30% of your available credit,” Bobbi Rebell, a certified financial planner and personal finance expert, told CBS News.

If your debts exceed that 30%, the experian credit agency indicates that the debt level begins to more significantly affect your score. Furthermore, with inflation rising, many consumers feel that their minimum payments are not enough to cover essential expenses.

“This is a very difficult environment for credit card debt, with record balances and interest rates also at historic levels,” commented Reb ell. “All this happens while inflation makes daily expenses very expensive, which pushes consumers to use cards more.”

Signs that your debt is too high

Each person has a different limit based on their income and expenses. However, there are clear red flags, as pointed out by Alex Duffy, independent agent and retirement expert.

“Any amount that causes stress, takes up too much of your income or doesn't allow you to save for your future is too much,” noted Duffy.

Other indicators include using cash advances frequently, paying late, spending over-the-limit or skipping payments completely.

“Credit card debt can be considered too high if it stops being a tool and becomes a heavy burden to handle,” said Kim Chambers, card product manager for Georgia’s Own Credit Union.

How to take back control of your debt

If your debt is going up, there are concrete steps that Duffy recommends to reduce it, such as:

“I recommend starting with smaller balances or higher interest rates to build momentum,” Duffy advised.

Negotiating with your issuer can help: some companies lower the interest rate, which reduces your monthly payment and makes it easier to get out of debt.

“Research other interest rates at your entity and in the market. Having this information will help you negotiate,” Chambers recommended. “Also review your payment history; if you have been consistent and punctual, this will work in your favor.”

Other options include balance transfers to cards with low promotional rates, or consolidating debts into a lower interest loan. Rebell believes that “sometimes it helps to consolidate accounts,” to have more clarity of your numbers in one place.

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