How much credit card debt is too much?

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
13 posts
DoingHomework
Centurion Member
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Joined: Tue Sep 22, 2009 1:15 pm
Location: Arizona

Postby DoingHomework » Tue Sep 27, 2011 2:36 pm

Don't stop paying. Figure out how much you can cut out of your budget - ALL entertainment, start cooking at home, etc. Then take everything you have left and pay it to your cards every month. Pay off the highest interest rate card first. Get a second job if you must.


NuPlastic
Green Member
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Joined: Thu Jun 30, 2011 11:04 pm
Location: Texas

Postby NuPlastic » Sun Dec 04, 2011 2:18 am

Im back! I had not been to the fourm for a while. I had to get 3 jobs to pair down all my cards. I had a bad few months, maxed out all my cards and am now only recovering. Meaning the bal. are still high, but now I can stop paying the min. bal., and really make a dent. Life sometimes tells you how much debt is too much. Most of the time you ask yourself, get into debt? And see how faw down the rabbit hole you can go, before you hit bottom; or lose your apt, car, and anything else you can lose if you dont pay.
Current Cards: American Express: Green Bank of America: Platinum Plus Visa Discover: More Capital One: No Hassle Rewards, Platinum Master Cards
Primary Everyday Card: http://creditcardforum.com/rewards/232-warning-american-express-blue-cash-here-s-catch.htmlBofA: Platinum Plus Visa
Primary Travel Card: Amex: Green

jamesQ
 
Posts: 1
Joined: Sun Feb 09, 2014 8:58 pm
Location: CA

Postby jamesQ » Sun Feb 09, 2014 9:09 pm

In 2009, President Obama signed the Credit Card Act into law. One of the provisions of the law is that credit card companies, in conjunction with the National Foundation for Credit Counseling, must provide resources for consumers who have difficulty with their finances. While they’ve held up their end of the bargain, recent NFCC studies have found that consumers simply aren’t taking advantage, reports Bankrate. I found this here: Credit Card Act.



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