Credit Card Debt

How much $$$ would you guys consider to be TOO much credit card debt...I currently have $2200 in credit card debt and am going to graduate college in December, to me that seems like a huge number buy my parents and brother claim that it is a minuscule amount and that I should not worry. What do you guys think? Every time I think about it, it gives me mild anxiety...thanks fellas 

It's a small number but if you can't pay it then it's huge.  If you get a good job you should be able to retire that immediately.  I wouldn't worry about it.  Just focus on making money after graduation and then pledge never to carry cc debt again.

Depends on what the rate is, how much that 2200 is relative to your free income..meaning the money you have left over after all bills and some savings.

That $2200 could add up to be a whole lot more some day if you pay just the minimum each month.

Credit card debt is a drain on your life. Pay it off as fast as possible.

If your interest on debt is greater than your interest on your asset, you're losing and will be broke one day.

Get rid of it asap.

An analogy.....Once there was nation who used to not owe anything.  Then it gradually went into a small amount of debt in relation to what it received in profits.  However, it was irresponsible and that small debt turned into trillions of dollars of debt with no solution in sight.  Bottom line, the less debt you get into, the less you have to get out of.  As a soon to be college grad, do your future self a favor and don't start digging a hole.

An analogy.....Once there was nation who used to not owe anything.  Then it gradually went into a small amount of debt in relation to what it received in profits.  However, it was irresponsible and that small debt turned into trillions of dollars of debt with no solution in sight.  Bottom line, the less debt you get into, the less you have to get out of.  As a soon to be college grad, do your future self a favor and don't start digging a hole.

For most people, paying off credit card debt early is preferable because interest rates are usually high.  But you may want to minimize payments if interest rate is low and debt is used for investment in which profits exceed interest costs.

Good luck with that strategy, particularly in this market..  You are better off paying  the debt off first.... then starting with your investment approach....

I have stellar credit, no consumer debt and few cards. Lately I have been bombarded by JPM and  BoFA with offers.

But the rate is meaningless if you pay in full each month.  I'll take the big rewards for the high rate.

I thought obama authored banking reform years ago.

Damn corporatist.

The credit card benefits are sweet though on fully paid balances.

If you can consistently beat out interest on a credit card with investment... but that seems pretty hard to do...

if its a beast of burden to you its probably too much