2007-01-01 07:28:09 · 6 answers · asked by John 2 in Business & Finance ➔ Credit
Any credit card debt is too much. Unless you are able to pay the balance off every month, it is not a good hole to jump into. Been there, done that.
When you consider the interest rates they charge now and all the fees, renewal charges, etc, you are being taken to the cleaners. If you can't afford the item you want, either put it on lay-away and make monthly payments (no interest) or save up for it. Credit card debt is nothing but a bottomless pit...my advice is to stay away from them.
We've been credit card free now for 5 years, and there's no better feeling in the world.
2007-01-01 07:35:43 · answer #1 · answered by irishd83501 2 · 2⤊ 0⤋
That depends on the person, how the credit card debt accrued (medical or vacation?), how long has the balance been outstanding. For about 80% (my notation for the status quo), ANY balance carryover on a credit card is too much.
2007-01-01 07:31:41 · answer #2 · answered by GoodTimesMakingMoney 2 · 2⤊ 0⤋
It really depends on how much income a person is bringing in, to cover the debt. In my opinion $5000.00 is alot.
2007-01-01 07:38:59 · answer #3 · answered by Chris P 3 · 0⤊ 0⤋
In my opinion, any amount that can not be paid OFF comfortably within a 6 month period, as this allows for clearing it up before the holidays, etc. :)
2007-01-01 09:01:33 · answer #4 · answered by Life after 45 6 · 0⤊ 0⤋
Any that you can't pay off at the end of the month is too much, unless it was to cover an emergency, in which case it should be paid off as fast as possable.
2007-01-01 07:36:43 · answer #5 · answered by Richard 7 · 0⤊ 0⤋
More than I can pay off in the next billing cycle.
2007-01-01 07:36:31 · answer #6 · answered by Wurm™ 6 · 1⤊ 0⤋