Do you still consider it debt if you pay off your CC 100% each month?

posted 3 years ago in Money
  • poll: If you pay off you CC balance in full each statement, do you still consider it debt?
    Yes : (6 votes)
    3 %
    No : (184 votes)
    96 %
    Other : (1 votes)
    1 %
  • Post # 3
    Member
    5460 posts
    Bee Keeper
    • Wedding: August 2012

    I use my credit card and pay it off before my billing cycle in order to accumulate my cash back rewards points.  I do not actually carry a balance, in which case I would consider it debt.

    Post # 4
    Member
    900 posts
    Busy bee
    • Wedding: February 2014

    @cbgg:  A lot of people have a big savings account but still put stuff on their CC for perks and points and pay it off.

    If someone does this, I don’t consider it debt.

    I would consider it debt if they didn’t have a savings account. 

    Post # 5
    Member
    4483 posts
    Honey bee
    • Wedding: April 2015

    Not really. It’s a temporary balance that I have the money to take care of. 

    Post # 6
    Member
    13004 posts
    Honey Beekeeper
    • Wedding: June 2011

    No, anything that I have the cash to back is not debt to me.  I got a 5 year loan on my car and make payments on it, but I don’t consider that debt either because I have the cash to back it.  I just choose not to pay for it in full up front cause I could get 0% financing.

    Debt to me is money owed that you don’t actually have the cash for.

    Post # 7
    Member
    1021 posts
    Bumble bee
    • Wedding: September 2014

    @cbgg:  it’s technically debt until you pay it off. 

    Post # 8
    Hostess
    11469 posts
    Sugar Beekeeper

    @cbgg:  I don’t use my CC to pay all my bills (I was raised with the CCs are evil mentality from my grandparents, hard to get over) but I know that many people do to make the most of reward points and cashback bonuses. I do not see it as debt if you pay the full balance before the due date so that no interest is accrued.

    Post # 9
    Member
    4483 posts
    Honey bee
    • Wedding: April 2015

    @Washingtonian:  I agree, it technically is a debt that’wowed, but when someone says “credit card debt” I think of a revolving balance

    Post # 10
    Member
    6740 posts
    Bee Keeper
    • Wedding: October 2010

    We put everything on our credit card and pay it off enitrely each month.  I have never considered this debt.  Especially because we always have enough in our bank account to pay it off at any time.

    Post # 11
    Member
    900 posts
    Busy bee
    • Wedding: February 2014

    My FI had a cc card that he paid off every month for about 5 years.  He would put EVERYTHING on it.  I asked him if he had a cash back program and he said he didn’t know.  He went into his account online and he had over $500 waiting for him to either cash our or help pay off his next bill with.

    THAT WAS A HAPPY DAY FOR HIM

    Post # 12
    Member
    2884 posts
    Sugar bee
    • Wedding: March 2013

    i would consider it debt if i werent able to pay it off. but the situation you describe? nope

    Post # 14
    Member
    29 posts
    Newbee
    • Wedding: April 2012

    @cbgg:  If I’m not paying interest, I don’t consider it debt.

    Post # 15
    Member
    11772 posts
    Sugar Beekeeper
    • Wedding: May 2013

    I don’t! That’s just “monthy spending”–But we put EVERYTHING on our card, since it’s a rewards card! So CC is the only way we spend money unless we go some place cash only!

    Post # 16
    Member
    279 posts
    Helper bee

    @cbgg:  I have 10x in my savings account what I’m allowed to charge each month so I will for sure have the money, so no. I use credit card for the protection (not attached to my bank account) and to build my credit (I’m young still) and to get rewards

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