How many cards do you have in your name and do you have an outstanding debt on all of them?
I ask because the average seems to be so high for people in the US. Between my husband and I, we only have 3 credit cards and only one has debt on it that we are still paying off. This was used for auto repairs we had to get done late last year.
you are so lucky because usually people have 5 and more credit cards. 🤔
I have just one credit card from the bank used purely for building credit. Otherwise, I don't need it.
Actually, I'd prefer not to have it at all but it's almost essential these days.
I have 5. Of those 5, 3 of them are maxed out and I am paying them off. The other 2 are ones I use month to month to help make ends meet. I payed off 3 cards last year otherwise I'd have 8!
Too many. I started with 3 right away after turning 18. By the time I was 22 I had 5. Now I am up to 9 and I am not even 30 years old yet. I set myself up to fail because I had no knowledge on how credit functioned.
I have 4 which I plan to bring down to 2 this year. I will keep one to use monthly to keep my scores balanced and the other will be for emergencies only.