If you have, than it's probably a sign that you are struggling with your finances.

But, that just means you can join the 3.2 million of us who are juggling our finances across five or more credit cards. Yes, despite big concerns about the credit crunch, many of you are still spending way beyond your means and racking up crippling debts, research shows; and 30% of us have applied for another card in the past year.

Comparison website MoneyExpert.com, warns that many of us are now in "real financial trouble" trying to keep up with our mortgage repayments or to make the minimum payments on other debts such as loans or credit cards.

Sean Gardner of MoneyExpert said too many of us are using our credit cards in the wrong way:

"There has to be real concern if people are using cards to keep their head above water," he added. It is entirely healthy if people are swapping debts from one card to another, taking advantage of 0% deals to ensure that they pay as little interest as possible".

3.2 million of us have five or more credit cards; those aged between 35 and 44 are the worst offenders, with nearly 10% admitting to having five or more credit cards.

Naturally, at this age, many have young children, and, when questioned, said their finances would reach "breaking point" if one parent had to give up work to look after their family.

Claim back your credit card fees

Experts are now urging many of us to get our debts under control as it appears that major banks are clamping down on credit card borrowing.

Egg has already written to 161,000 of you it considers "risky" customers warning you that your credit cards would be frozen within 35 days.

Other banks, such as Barclaycard, claim that they have turned away nearly 50% of applications for new loans in the past few months.

Earlier this year, a report by accountants KPMG cited credit card spending as one of the main reasons borrowers get into serious debt.

It claimed 130,000 of us will become bankrupt this year or make a deal with their creditors, known as an Individual Voluntary Arrangement (IVA). A typical person taking out an IVA owes £50,090, and they usually have more than five credit cards, it found.

The news that millions are struggling to balance their books comes as the charity Joseph Rowntree Foundation warned that repossessions could soar up to 100,000 this year; this is the highest number on record. The charity says only a minority of homeowners have insurance which will pay their mortgage if they lose their job.

If you are worried about debt or are already struggling with your finances then there is help available:

The Consumer Credit Counselling Service (CCCS) is a debt advice charity that offers free and impartial advice. Their helpline is open from 8am to 8pm, Monday to Friday, on 0800 138 1111.

Credit Action also offers impartial and ethical advice about all things debt related.

If you are already in debt and are having problems keeping up your payments, then you should speak to a debt specialist who can help.

Are you wasting £137 on your credit card?