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Started By
Message
re: How much money per month do you put on your credit card?
Posted on 4/13/14 at 1:20 pm to stout
Posted on 4/13/14 at 1:20 pm to stout
quote:
quote:
I put about $3-4,000/month on my credit cards. I have about $27,000 in credit card debt at the moment.
At least you are being honest unlike a lot of people in this thread.
yup
0
Posted on 4/13/14 at 1:32 pm to ShubutaMS
A lot. But we pay it off every month.
Posted on 4/13/14 at 1:40 pm to TXGunslinger10
quote:
And my CC doesn't have rewards, so once it's paid off, I'll either close this one
Why would you do this? Seems to me is no benefit to closing an account you're not using unless it has an annual fee. Just don't use it.
Posted on 4/13/14 at 1:52 pm to Goldrush25
quote:
Just don't use it
Just for accuracy sake he should use it once every six months.
This post was edited on 4/13/14 at 1:53 pm
Posted on 4/13/14 at 1:53 pm to ShubutaMS
1k-2k per month. I pay it off each month. I use my card for everything. I usually jump on a 0% for however many months deal so that if I do eff up, I'm not paying interest. When the 0% deal is up, I move to the next card with that deal. I haven't not paid it off that month, but its an additional safety net. Currently on Amex Blue Preferred. 6% back on groceries, 3% back on fuel, 1% on everything else. I've made several hundred dollars in the few months I've had it.
Posted on 4/13/14 at 4:04 pm to yellowfin
quote:
I have plenty of cool shite I can afford
I can afford all my shite - just not right now.
I don't take on any debt that I don't think I can pay off. My expendable income is around $4-5K/mo., so if I stop spending it I could wipe out the credit card debt in around 6 months. But right now my kid is enjoying Taekwondo competition, and my wife and I enjoy traveling all over the country with him. I'll enjoy the next few years with my kid to the fullest, then worry about the debt when he moves on later. My wife is very thrifty - she'd be happy at a Quality Inn, so she freaks out when I book a suite at an expensive hotel. The debt drives her crazy. All my credit cards are linked to hotel rewards, and I get so many free rooms and upgrades from the points that it really don't end up paying much net interest. My dad NEVER accumulated debt. Paid cash for his house. Paid cash for his 34' motoryacht, paid cash for his 42' Rv, etc. The apple fell very far from the tree in my case.
This post was edited on 4/13/14 at 4:08 pm
Posted on 4/13/14 at 4:41 pm to LSUJuice
quote:
the other benefit of charging everything is it's easy to dispute charges. Or if it gets stolen they take care of you. It's much safer than cash or debit.
Absolutely correct.
I still don't understand why people use debit cards. Use a CC for everything and pay the balance off each month. With any decent rewards program you lower the actual cost you pay by at least 1%.
Posted on 4/13/14 at 4:43 pm to ShubutaMS
zero
Posted on 4/13/14 at 4:48 pm to ShubutaMS
Zip - Zero - Nada
Debt is truck and house. have money in the bank to pay both of them off tomorrow if needed.
Then a job in 2nd shift sporting goods dept. at Walmart would be just fine.
I understand you meet some nice folks there late at night, so maybe I'd take third shift and take a sideline job of photographing Coffee Table photo books. Would shoot WM shots and photoshop dog and cat faces to cover recognizable facial features.
Would be the best retirement anyone could want.
Debt is truck and house. have money in the bank to pay both of them off tomorrow if needed.
Then a job in 2nd shift sporting goods dept. at Walmart would be just fine.
I understand you meet some nice folks there late at night, so maybe I'd take third shift and take a sideline job of photographing Coffee Table photo books. Would shoot WM shots and photoshop dog and cat faces to cover recognizable facial features.
Would be the best retirement anyone could want.
Posted on 4/13/14 at 4:49 pm to ShubutaMS
quote:
ETA: and how often do you carry a balance.
Never. Waste of money.
Posted on 4/13/14 at 4:50 pm to LT
quote:
I wonder how the card companies make money off these rewards.
Swipe fees the merchants pay
ETA: I put about 3-4k a month on mine and have never paid any interest to Amex.
I did however pay interest on the credit card I had during college. It thought me 2 great lesson. Never carry a balance and Bank of America are a bunch of crooks. I got $22 dollars from a class action lawsuit against them
The only debt I have is what's on my Amex for this month and my Jeep
This post was edited on 4/13/14 at 4:57 pm
Posted on 4/13/14 at 5:51 pm to ShubutaMS
average 4 to 6 k per month. never carried a balance in 15 years 
Posted on 4/13/14 at 5:58 pm to ISmellMischief
Pay off the previous month balance every month.
Depending on work, I can put upwards of 10K on it in a month, but average probably 3
Depending on work, I can put upwards of 10K on it in a month, but average probably 3
Posted on 4/13/14 at 9:14 pm to N2cars
quote:
the other benefit of charging everything is it's easy to dispute charges. Or if it gets stolen they take care of you. It's much safer than cash or debit.
I get the same protection with my debit card, I just tell them to run it as credit and don't put my pin in.
Posted on 4/13/14 at 9:22 pm to 911Moto
quote:
All my credit cards are linked to hotel rewards, and I get so many free rooms and upgrades from the points that it really don't end up paying much net interest.
I'm guessing you aren't very good at math
Posted on 4/13/14 at 9:36 pm to Paul Allen
quote:
Zero. I know better than that.
Not sure if seriousPosted on 4/13/14 at 9:41 pm to ShubutaMS
Between AMEX and Visa (my utility companies don't accept AMEX), the wife and I put about 3K a month. Only once was the AMEX not paid in full when I accidentally clicked the wrong payment button. When I realized my bill was way too high the next month, I called them, figured out the situation, and they never charged me a penny extra for the late payment.
Posted on 4/13/14 at 9:49 pm to ShubutaMS
Probably 5 to 7k. I put most everything on my debit.
Posted on 4/13/14 at 10:15 pm to Monk
0.
The only time I use my credit card is when I can't find/lose my debit card.
I've always been pretty budget conscious with money. I put myself through undergrad in cash and the only debt I currently have is a mortgage.
Can somebody in this thread who puts all of their expenses on a card for the rewards throw me a bone and sell me on what I will gain?
If I switched to this method and put 3-4k a month on a card what type of return can I reasonably expect? And also, which card should I apply for?
The only time I use my credit card is when I can't find/lose my debit card.
I've always been pretty budget conscious with money. I put myself through undergrad in cash and the only debt I currently have is a mortgage.
Can somebody in this thread who puts all of their expenses on a card for the rewards throw me a bone and sell me on what I will gain?
If I switched to this method and put 3-4k a month on a card what type of return can I reasonably expect? And also, which card should I apply for?
This post was edited on 4/13/14 at 10:19 pm
Posted on 4/13/14 at 10:48 pm to The People
Paid off. Thought using a cc and paying off every month would be more disciplined way than debit card figuring a set rate every month would be a better way of budgeting. It did indeed work, but received an alert from my credit monitor and my credit rating went to shite. High use of cc and over limit dropped me like a rock. Even paid off monthly it looks bad because reporting date for cards is on a date other than due and always show a balance. Always on time never late on payments. The FICO game is to have high limit no collateral credit for extended time and only using it sparingly. Which is great for the idle of rich, but not guys doing commerce.
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