re: Who is ready for the next big financial crisis?

I wouldn't want to be there again, but that isn't too bad. Just depends on your money flow

quote:

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I have about 2500 in the bank. No 401k. No other accounts. 12k in credit card debt. How fricked am I?

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Your credit score is probably not so good, depending on how many credit card accounts you have open and the balance compared to the credit limit. It's not hard to improve your score though if you can pay some of them off and close the accounts. Or get a card with a promotional deal like no interest on balance transfers for 18 months, and then transfer the balance on a high interest card. That way you're paying off more of the principal every month instead of paying interest.

Ideally you would have two credit cards tops, with the balance no higher than one third of the credit limit. If your balance is higher than one third of the credit limit, your cards are actually working against you and hurting your credit score.