Maxed out credit cards -Does it hurt my credit?
According to the Federal Reserve, the average household credit card debt is at approximately $16,000. Maxed our credit cards are an epidemic. With this much debt it isn’t surprising that many people are in danger of maxing out their credit cards. It’s a good idea to stay well below the limits imposed on a credit card. This leaves a little wiggle room if an unexpected emergency would come up. If you would happen to exceed the credit limit on your card, the following is what you could expect to happen.