My Shocking Credit Card Debt!

From all that I have written about credit and finance over the past year since starting my blog, you’d think that I was in debt up to my eyeballs and it certainly feels like it at times.

I’ve grown so accustomed to being in debt that even I assumed that my debt was much greater than it was until I decided to stop and take a look at just how much I owed in overall credit card debt. What I found was shocking to say the least.

To my surprise, I found that my total credit card debt only amounted to about $1,600.00. I could not believe it. I’d been in debt for so long that I never stopped to realize just how little cash I actually owed.

Sure, I have other expenses such as a school loan and tax debt but the school loan balance is less than $1,000.00 and in good standing and the taxes owed, currently do not affect my credit score.

Even though my credit card balances are low, my cards are pretty much maxed out, which lowers my credit score due to charging over 30 percent of my overall available credit. If I pay my credit cards down to a zero balance, I’m pretty sure that my score will increase by at least 50 points!

A simple 50 point jump can be a great help when it comes time to finance that new car!

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