What percentage of credit card debt is good/acceptable?

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What percentage of credit card debt is good/acceptable?

Postby gold-rick » Sun Apr 28, 2013 6:06 pm

Hey guys, what is the percentage that should be charged to one card if you plan on carrying a balance on it? I have heard some say stick to around 15% of the limit while I have heard others say 25%. Thanks.

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Postby paparoach429 » Sun Apr 28, 2013 6:21 pm

I dont think there is no clear cut answer. I have read mostly under 30%

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Postby FastSRT8 » Sun Apr 28, 2013 7:28 pm

IF you are going to carry a balance over 30% then its better to get a real loan; especially if you plan to roll the credit for a while.
Carpe diem quam minimum credula postero!

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Postby Z06Biker » Sun Apr 28, 2013 7:32 pm

These days, average APR's for people with good credit is around the 15% mark. Some (like PenFed, Ameriprise, Fidelity and credit unions) seem to be lower, while a lot of the prime lenders quite easy reach the high-teens or 20's if your credit has even a single blemish.

If you plan on carrying a balance, might be best to look into cards that have promotional 12-month 0% APR's.
AMEX: PRG Gold, Business Simply Cash, Business Costco, BCE.
Chase: United MileagePlus Club, Sapphire Preferred, Amazon Rewards
Barclaycard Arrival World Mastercard
HSBC Cash or Fly World Mastercard
USAA World Mastercard, USAA Platinum Mastercard
Wells Fargo Business Platinum
USC Credit Union Mastercard

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