re: Besides a mortgage and car notes, what's the most amount of debt you've been in?

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I put the down payment on my wife's car on my credit card because they didn't charge me a fee for doing it and just paid it off the next day.

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thinking along those lines

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Some places will charge a % fee for that and it's not worth it if they do. I asked them first.

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agree

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How the frick are people ok with just floating $12k in credit card debt? Isn’t this at like 20%+ APR? How do you not pay off your credit card every month?

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We use credit cards for everything we can. Several of them have 5-10% cash back on certain items for a month. We usually have $8-$10K in credit card balances every month and pay them off, usually weekly but sometimes it will be 2-3 weeks. We save about $2K a year doing it. I was very uncomfortable doing it for the first year or so but its not a terrible idea if you pay them off entirely every month. Its money we would be spending anyway, may as well get a little discount.

We have friends who pay everything on credit cards every month and fly somewhere just about every weekend with rewrds and stay in hotels on the rewards. I prefer cashback because I am a Motel 6 kind of guy LOL....

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The ring

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such a fricking ripoff

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We use credit cards for everything we can. Several of them have 5-10% cash back on certain items for a month. We usually have $8-$10K in credit card balances every month and pay them off, usually weekly but sometimes it will be 2-3 weeks. We save about $2K a year doing it. I was very uncomfortable doing it for the first year or so but its not a terrible idea if you pay them off entirely every month.

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If you pay it off every month, is it really CC debt? When someone says they have $12k in CC debt I take that to mean they have $12k at the end of the month on their cards that they can’t cover. Am I interpreting this wrong?

No more than 7500. And I've paid my house off. Im scared of debt. Always have been. Ive seen friends and family get into massive debt. I prefer to pay up front for something if i can.

50,000 Unsecured. For Invemtory to start my business.

I tried to go around a man that was in my business 29 years ago. Was going to cut his throat. Wound up having to go to him to get started. He asked how much money I had. Told him 10,000 bucks. He laughed. Said I needed at least 50,000 in inventory to make a go.

Told me to back into his warehouse. Loaded me up with 50,000 worth of stuff. Said to hold onto the 10,000, that I would need it.

This man gave me this stuff on a handshake. The first time he ever met me.

This is why I try to help any human being in any way I can.

I’ve been blessed. God is great.

Zero, shockingly enough to myself. Including notes/student loan/house.

I've owned every car outright, don't have legal stake in our mortgage/deed, and used TOPS for college. Pay off my CC in full every pay period, so twice a month.

Technically a few hundred grand for "loans", but it was for inventory and the way it was structured it was "paid off" monthly.

Personal debt, I swiped 18k on a card once, but again, it was paid for by the statement cut.

Medical was close to two million at one point, but I never had to pay it fully back and it was mostly written off as charity, but hospitals over charge so they can give "charity" so they can maintain their not for profit status. It's a giant scam.