I got my first credit card when I was 18, I’m now 31. My total balances have exceeded $33,000 at one time — the high point reached in late 2008. I presently have six credit card accounts opened.
I have thought a lot about credit card debt. At times I have felt buried in it, other times I’ve felt comfortable with it. Most of the comfort has come with a recent credit card repayment regimen I’ve employed via the debt snowball method. I’ve created a credit card calculator with which you can evaluate your own payment options.
One important step of getting ahead of credit card debt is to beat the minimum payment. The credit card companies have recently started including the minimum payment warning section within each statement.
More to come!