Sunday, August 9, 2009

If someone had about $600-700 dollars in credit card minimum monthly payments......?

Without knowing what the interest rate is, what would be an estimate of how much credit card debt they had?



If someone had about $600-700 dollars in credit card minimum monthly payments......?

2-3% is a common minimum payment, so 30-40k might be a good estimate, but that could depend on a number of factors.



If someone had about $600-700 dollars in credit card minimum monthly payments......?

An OMG amount !



If someone had about $600-700 dollars in credit card minimum monthly payments......?

On a credit card? Tens of thousands of dollars, like enough to buy a nice car, maybe a small house.



If someone had about $600-700 dollars in credit card minimum monthly payments......?

Cards vary quite a bit. Could be as low as $20K (unlikely to be less), as high as $35K.



If someone had about $600-700 dollars in credit card minimum monthly payments......?

Probably around 20k or more depends on the intrest rate!



If someone had about $600-700 dollars in credit card minimum monthly payments......?

he must be having atleast 20000$ in debt

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