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Originally Posted by Redux
On average, we carry eight cards per person and have a balance of $8,400 in credit card debt.
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Yeah, that's just nuts. I've never understood the rationale of having piles of plastic; It's just trouble waiting to happen. If you can't manage with one card (OK, maybe a second you never use, for emergencies only), how will you be better off with four? Much less eight. It certainly doesn't make your personal finances easier to understand; it's just a temptation to play a mental shell game.
I have *one* credit card, and (given the five-figure credit limit on it) if it was maxed out I'd be in very, very deep kimchi indeed. As it is there's a somewhat serious balance on it that represents job-hunting and living expenses in between getting laid off on Christmas Eve and my first paycheck from my new job that showed up last Tuesday, Paying that balance down is financial Job One after the mortgage and other truly non-postponable bills are covered.