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Started By
Message
re: How much credit card debt do you carry?
Posted on 6/9/15 at 10:43 am to Darth_Vader
Posted on 6/9/15 at 10:43 am to Darth_Vader
quote:
I spent my 20's running it up, my 30's paying it down,
What I'm doing right now. Hoping by August to be CC debt free for first time in 15 years. Have about $2,000 to go. Never again.
This post was edited on 6/9/15 at 10:44 am
0
Posted on 6/9/15 at 10:43 am to Mo Jeaux
I would consider business debt quite different than the cc debt of the average American family. Stouts explanation does nothing for your argument of carrying personal credit card debt with interest. You have still not given one example of when cc debt for an individual is beneficial.
Posted on 6/9/15 at 10:44 am to BabyTac
My has a balance for 30 days then paid off. I don't use my debt card at eateries unless it's somewhere like Cracker Barrel or ihop where I can see what they're doing. Otherwise I use my discover card pay it off and piss away the points at Amazon.
Posted on 6/9/15 at 10:45 am to Tigerlaff
quote:
$0
Pay the whole balance each month
This, I only use my cc to earn rewards.
Posted on 6/9/15 at 10:48 am to BabyTac
I've got about $400 with Home Depot. No interest until this November so I pay about $50/month
Posted on 6/9/15 at 10:49 am to BabyTac
About 3K. I'll have one paid off this month and the other by the end of the year.
Posted on 6/9/15 at 10:51 am to Tempratt
I have $0 credit card debt but carry a card just in case. The most CC debt I ever carried was $4500 or so.
I actually dated a girl who was 29 and had over $35k in credit card debt. It was one of a few alarm bells keeping me from getting serious with her.
The rewards programs seem great but I simply do not trust myself and have decided to stay away from the use/pay each month model.
I actually dated a girl who was 29 and had over $35k in credit card debt. It was one of a few alarm bells keeping me from getting serious with her.
The rewards programs seem great but I simply do not trust myself and have decided to stay away from the use/pay each month model.
Posted on 6/9/15 at 10:51 am to BabyTac
quote:
average american household
If it's just me, is it just my debt? Or do I have to ask my roommate what his CC debt is for a fair comparison?
Posted on 6/9/15 at 10:53 am to Chimlim
quote:
I love how everyone here has 0 credit card debt
I had close to $30k before I divorced my wife last year. That number magically shrunk to zero in less than a year.
ETA - she didn't (and still doesn't) work.
This post was edited on 6/9/15 at 10:56 am
Posted on 6/9/15 at 10:53 am to BabyTac
we have zero.
When we first got married, I had around 8K. Combined with my wife, it went to 13K. We worked to pay it off, and barring catastrophic events, it won't happen ever again. The savings we've accrued since knocking all that down has been substantial.
For those young bucks in the OT, take it from an older guy (43) that the best thing to do is ignore the credit card kiosks around campus/wherever until you have a job. The booze you drink and the tail you chase won't be worth it years down the road.
When we first got married, I had around 8K. Combined with my wife, it went to 13K. We worked to pay it off, and barring catastrophic events, it won't happen ever again. The savings we've accrued since knocking all that down has been substantial.
For those young bucks in the OT, take it from an older guy (43) that the best thing to do is ignore the credit card kiosks around campus/wherever until you have a job. The booze you drink and the tail you chase won't be worth it years down the road.
Posted on 6/9/15 at 10:54 am to Tigeralum2008
quote:
The rewards programs seem great
Yeah, not only are rewards great but there are 0$ interest offers given to card members all the time. With any discipline whatsoever, they are giving you free money.
Thanks for the treat stupid.
This post was edited on 6/9/15 at 10:55 am
Posted on 6/9/15 at 10:54 am to BabyTac
OT baller so ZERO
Posted on 6/9/15 at 10:54 am to jennBN
quote:
I would consider business debt quite different than the cc debt of the average American family.
So would I.
quote:
Stouts explanation does nothing for your argument of carrying personal credit card debt with interest.
That was not my argument.
quote:
You have still not given one example of when cc debt for an individual is beneficial.
There have been several posted already. When one is, you seem to want to distinguish it from people being irresponsible and running up debt, which they are unable to handle. Which is great, but no one here has disagreed with you, so you're arguing with no one just for the sake of arguing.
Posted on 6/9/15 at 10:55 am to redstick13
quote:
I had close to $30k before I divorced my wife last year. That number magically shrunk to zero in less than a year.
How?Posted on 6/9/15 at 10:55 am to BabyTac
quote:
How much credit card debt do you carry?
$0.00
Had close to $12k, then paid it off. Working on student loans (~85k) at the moment. Whenever I have big purchases- hospital, plane tickets, appliances, I pay it with our travel reward cc, then immediately pay it off, often the same day. Everyday purchases are done either in cash or debit card.
This post was edited on 6/9/15 at 10:59 am
Posted on 6/9/15 at 10:59 am to Mo Jeaux
quote:
How?
Eliminated the problem at the source. Only one person in the house was racking up the CC charges. The same one who didn't work and was a full time shopper. She also managed to sap $40k from savings before I could cut it off.
Good riddance.
This post was edited on 6/9/15 at 11:03 am
Posted on 6/9/15 at 11:05 am to BabyTac
Got bout 4K on a card with 0% interest for 18 mo. I'm in no rush with that kidn of time so I figure I'll do it over the next 5-6 months.
Posted on 6/9/15 at 11:10 am to TeddyPadillac
quote:
I can tell you that it does nothign for your credit to pay off your balance every month.
It certainly doesn't hurt the score. The statement balance gets reported to the credit reporting agencies whether you pay it off every month or carry a balance. I choose to pay my statement balances off every month because I have credit cards for convenience and to get things like airline tickets, hotel rooms and other rewards in exchange for spending money I was already going to spend.
Posted on 6/9/15 at 11:16 am to BabyTac
$4500 left from post divorce period. I'm paying it down pretty fast
Posted on 6/9/15 at 11:18 am to redstick13
quote:
Eliminated the problem at the source. Only one person in the house was racking up the CC charges. The same one who didn't work and was a full time shopper. She also managed to sap $40k from savings before I could cut it off. Good riddance.
Damn. Good for you for getting it straightened out.
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