Credit card to Income ratio

30andcounting

Just curious - if people want to do this, what is your current credit card vs income ratio. Just interested to see the average.
Credit card: £3,000 (0% March 21)
Income £56,650
Ratio 5.3% 
Ive always thought I shouldnt ever be above about 10% of gross income as a personal rule. ( I have been near and over that in the past) 

Cheers

mrsplinter

Credit card debt is £17.2k. All of it is 0% until late next year.

Income £38.3k so my ratio is 44.9%.

I wouldn't say I'm comfortable with the ratio, but it was higher last year and I made the choice to borrow a chunk for renovations using a 0% interest credit card.  I have nearly £4k saved which will be used to pay off the credit card, so the real debt is more like £13k, which I am pretty much on course to pay off next year.

For me a 10% ratio would be a low threshold at which to start being concerned at as, if I put my mind to it, I could repay that amount within months and the minimum payments would not be particularly high.

Gareth_Ainsworth

Our debt is joint. We currently have £8000 on a joint income of 51.5k. This has come down from 12k a year ago. So around 16%.We could have paid more but have been doing up our house/ havings a few small breaks away so doesn't become all consuming.

£500 on 0% CC until October.
£400 on 0% until February 2021.
£1100 on 0% CC until December 2021.
£6000 loan until May 2023.

Theroadtoruin

Credit card £600, income £75,000 so that's not even 1%. I don't think it should be looked at in isolation though and all debts should be factored in. Maybe non mortgage debt vs net income after tax and essential bills. If you're mortgaged up to the eyeballs then you'll have less money for repaying other debts like credit cards so your percentage should be lower. 

ryanm8655

About £15.5k of debt (yet to update my spreadsheet), £55k income before deductions. Just under 30%.

Was £30k about a year ago.