18 and already 3k in debt… how bad is this?

Debt Management
1

I’m 18 and stuck with more credit card debt than I ever expected. I moved recently, couldn’t find a job for a while, and had to rely on credit. I’ve been making my minimum payments on time, but these balances are stressing me out.

Here’s what I owe:

  • Capital One Savor - $2,227.60 balance (limit $3,000)
  • Amazon Prime Visa - $427.59 balance (limit $1,000)
  • Amazon Store Card - $205.13 balance (limit $500)
  • Klarna - $139.67 balance
  • Affirm - $115.18 balance

Total: $3,115.17

I should have a job soon—hopefully in the next week—and I’m planning to pay most of this off fast. I’ve already locked all my cards and won’t use them again unless it’s an emergency.

My main worry is my credit score. I’ve always paid my balances in full before this happened, and I don’t want to ruin my credit this early.

My credit scores as of this week:

  • Equifax: 707 (myFICO & Experian app)
  • Experian: 682
  • TransUnion: 698
  • Capital One CreditWise (Vantage Score): 675

I feel stuck. I can’t balance transfer, I have no steady income yet, and I’m terrified of what happens if I can’t pay this off fast enough.

Anyone got advice? I just don’t want to mess up my credit for the future.

2

Look into donating plasma. I made $650 my first month, then $460 the next. In two months, that’s over a thousand bucks.

3

Devi said:
Look into donating plasma. I made $650 my first month, then $460 the next. In two months, that’s over a thousand bucks.

Yeah this is a solid way to make quick cash.

4

Devi said:
Look into donating plasma. I made $650 my first month, then $460 the next. In two months, that’s over a thousand bucks.

Tried it, but they told me my veins weren’t good enough lol.

5

First step—get any job you can, even if it’s not ideal. You just need cash flow to start paying this down. Have you checked if you qualify for unemployment? If you were working before the move, you might be eligible. Even a little bit of money helps.

Normally, you’d focus on paying the highest interest cards first, but since you don’t have income yet, you might need a different approach.

Check out the National Foundation for Credit Counseling (nfcc.org). They’re a nonprofit and could help you work out a plan or even negotiate lower rates.

You’re in a tough spot, but it’s fixable. Don’t stress too much—just focus on getting some income coming in.

6

@Remi
I don’t qualify for unemployment…

7

Linden said:

Peyton said:
@Linden
I don’t have any bills, so I can throw almost everything at it.

That’s perfect. If you get the right job, you could be done in 2-4 months easy.

Hearing that makes me feel so much better.

8

You’re freaking out over $3k? You’re actually in a decent spot. Your credit is still good, and you’re not missing payments. Just get a job and pay as much as you can each month. Even if you’re only making minimum payments right now, you’re fine.

Most banks don’t report late payments until you’re 30-60 days behind, so you have a little cushion if things get tight.

Look for something like Amazon, FedEx, or UPS. They pay well and hire fast, especially for an 18-year-old.

9

@Reagan
I really appreciate that… needed some hope.

10

Peyton said:
@Reagan
I really appreciate that… needed some hope.

Yeah man, don’t stress too much. Just keep making payments, even if it’s just the minimum. I was in way worse debt and kept my credit score decent by paying on time. Your biggest issue right now is utilization—once you pay this down, your score will bounce back.

11

@Reagan
So why did my score drop all of a sudden?

12

You’ll be fine. Just focus on paying more than the minimum when you can. You can clear this in three months or less depending on how much you’re making. This isn’t a disaster.

13

Brook said:
You’ll be fine. Just focus on paying more than the minimum when you can. You can clear this in three months or less depending on how much you’re making. This isn’t a disaster.

Thanks for the reassurance.

14

You got this. I’m sitting on $65k in debt and trying to clear it in a year. $3k is nothing in comparison.

If you can put $300 toward it each month, you’ll be done in 10 months. Less if you can throw more at it. I use the snowball method—works well for me.

15

@Linden
I don’t have any bills, so I can throw almost everything at it.

16

Peyton said:
@Linden
I don’t have any bills, so I can throw almost everything at it.

That’s perfect. If you get the right job, you could be done in 2-4 months easy.

17

@Peyton
Man, I’d love to be sitting on just $3k of debt. You got this, just keep at it.

18

$3k isn’t too bad. I have $10k and just paid half of it off by selling some collectibles. If you can find stuff to sell, that might be a way to knock it down faster.

19

This is manageable. Just make sure once you get a job, you hit it hard and don’t rack up more debt.

20

It’s only $3k. Definitely not the end of the world.