this post was submitted on 27 Feb 2025
26 points (96.4% liked)
Personal Finance
4070 readers
51 users here now
Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!
Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I'm in this boat too. I'm on track to pay it off completely by May but the damage is done: I clipped the card in two. I had originally used this card for emergencies and travel, but what happened is I used it to pay for a mover, and the debt has not moved much since.
If I have to travel with a debit card, I will find a way.
Looking at the debt numbers in the articles, I'm reminded of similar numbers before the 2008 crash and we are not in a place to recover if it happens again. Which it will.
Your unsecured revolving accounts don't need to have such shit terms. Many credit unions are still offering sub 10% rates.