The steady drip of troublesome economic news keeps coming: plummeting consumer confidence, a drop in housing sales …

And now this: The American Bankers Assn. reported last week that credit card delinquencies had climbed to a record in the second quarter, with 4.8 percent of account holders behind in payments.

No need to shed tears for the credit card companies. After all, credit cards are risky unsecured loans – the card issuers knew that when they got into the business. And issuers offset that risk by charging sky-high interest rates at a time when all other loans are at historic lows.

With incomes flat and expenses rising, it’s easy to see why more people would get over their heads in debt. If you’ve spent $60 filling your gas tank, you know the feeling.

But maybe the credit card situation is misleading.

In the past decade, millions of Americans have embraced the debit card, which works like a check, drawing directly on a bank balance. Unlike credit cards, debit cards don’t incur interest charges. And since there are no payments to make, there can be no late payments.

Perhaps cautious consumers have switched to debit cards, so that a higher percentage of the people left relying on credit cards are risk-takers.

Of course, most people who rely on debit cards still have some credit cards in their wallets. Credit cards are convenient at times such as vacations and the holidays, when even the most financially responsible indulge in some big spending.

How do you know if credit card use is getting out of control?

The association suggests some common-sense indicators:

¢ You make only the minimum card payment month after month, or you’re taking longer and longer to pay off your card debts.

¢ You’re frequently late on important bills, such as for the rent or mortgage.

¢ You borrow from one lender to pay another – transferring balances from card to card, for instance, or getting a home equity loan to pay card debts.

Solution: Restrict your spending by leaving cards at home or, at the very least, keeping a running tally of your credit-card expenses.

If the situation seems beyond you, get some professional help from a nonprofit credit counseling agency. For a referral, call Consumer Credit Counseling Services at (800) 388-2227.

Q. I have lots of money in some IRAs, moved over from my 401(k)s when I left two previous employers. Should I put more in?

A. If you qualify for a tax deduction on contributions to a traditional IRA, I’d consider it. You’ll reduce your income tax and get tax deferral on your investment gains. To make this really pay off, the tax savings should be invested as well.

Alternatively, a Roth IRA would be appealing, especially if you can’t deduct a traditional-IRA contribution. There’s no income-tax deduction on Roth contributions, but withdrawals are tax-free. Again, you have to qualify.

(For rules on qualifications, read IRS Publication 590, at www.irs.gov/publications/p590/index.html.)

Remember, though, that there’s nothing wrong with ordinary taxable investments. Long-term capital gains in these are taxed at no more than 15 percent – and not until money is withdrawn. With a traditional IRA, withdrawals are taxed as ordinary income, at rates as high as 35 percent.