(Closed) Curious…Average CC Bill (Spending Habits)

posted 4 years ago in Finances
  • poll: What is your average bill?

    500-1000

    1001-2000

    2001-3000

    3001-4000

    None of the above - please comment!

  • Post # 16
    Member
    999 posts
    Busy bee

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    megasaurus_rex :  I misunderstood your poll. I thought you were asking “what is the average balance on your CC that you don’t pay off”. My bad.

    Post # 17
    Member
    4987 posts
    Honey bee
    • Wedding: November 1999

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    megasaurus_rex :  we purposely keep our credit card limit low. I don’t know how it works in the USA but if and when you go for a loan they assume that you will spend the full limit amount every month (even if you never have) and they take that amount out of your borrowing capacity. We’ve purchased a fair few houses in the last few years to either keep or on sell and we didn’t want that to lower our borrowing capacity.

    I also dislike how our bank keep offering us ridiculously high limits constantly. We were between properties and had a large sum sitting in a term depisit. Every week our bank would either call or mail us a higher limit offer. The sums being offered were totally beyond what we could afford to pay back in a month. A  lot of people get caught out that way and of course banks want you to spend beyond your means because they can charge 15 to 25 percent interest on your CC debt. I dislike their practices in regards to CCs.

    We use debit cards for everything unless on holidays. So our CC only gets used a few times a year.

    My parents own a lot of properties and pay their rates every year with their high limit CCs for the travel points. They use their CC for everything to accumulate a lot of points and do use them for travel. Honestly though having booked their plane tickets for them you really don’t get much back for the amount you spend. You are still paying half the ticket price out of pocket for airport taxes etc $1500 return ticket to Heathrow  still required them to pay $750 out of pocket  per person plus 150,000 points for each ticket! 

    Post # 18
    Member
    9756 posts
    Buzzing Beekeeper
    • Wedding: City, State

    Zero cause we don’t have any credit cards.

    Part of that’s cause I’m too stupid to figure out how to pick one, though. 😂

    Post # 19
    Member
    1596 posts
    Bumble bee
    • Wedding: September 2018

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    zzar45 :  I think the point is, and really, not even referring to you, is that often these kinds of threads turn into a brag fest about how responsible everyone apparently is about debt and finances. I have seen so many threads go this way. It often feels just “braggy” 
    Again not singling you out, but yeah. It’s been known to happen. 

     

    Post # 22
    Member
    5169 posts
    Bee Keeper
    • Wedding: July 2018

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    Shesaidyes :  I just find it bizarre that people are so touchy in these threads, debt seems so normalised in the US that mentioning paying off a credit card in full is perceived as “bragging”. 

    Post # 23
    Member
    4398 posts
    Honey bee
    • Wedding: August 2012

    Typically about 3,000 every month. We put a lot of bills like cable and groceries on there for points, and keep the amount in an account so we can pay it off every month.

    I know what you mean about overspending, but i find the account helps bc then it’s not so much at once, as you’ve been doing $100 here and $300 there, etc.

    Post # 24
    Member
    1596 posts
    Bumble bee
    • Wedding: September 2018

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    zzar45 :  I think the opposite: it’s totally bizarre to mention it at all. I live abroad and no-one would ever mention this stuff because 1) it is assumed that you act responsibly about CC’s  2) no-one wouldbe interested to know if you pay off straight away or not. (The OP didn’t ask) 

    So to each their own. ¯\_(ツ)_/¯

    Post # 25
    Member
    354 posts
    Helper bee
    • Wedding: August 2016

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    slomotion :  Girl – you’re throwing away money!! I get 5% cash back on all my Amazon purchases with my Amazon Prime card. I get 3X points on my Chase Sapphire Reserve, and that came with a 50,000 sign-up bonus. I was able to get rountrip international flights for both my husband and I using our points! I also got a $300 travel credit and my Global Entry fee was paid in full. You can get so much from using and paying off credit cards. It’s a fun game 🙂 

    Post # 26
    Member
    4398 posts
    Honey bee
    • Wedding: August 2012

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    cmsgirl :    It’s definitely different in North America. Here when you are looking for a loan etc they look at your debt vs available credit. So if you have $500 limit but owe $400 that looks far worse than if you have a $2000 limit and owe $400, because you owe a larger pecentage of what you have available to you, and haven’t paid it back.

    Post # 29
    Member
    4464 posts
    Honey bee
    • Wedding: December 2014

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    cmsgirl :  In the US, higher limits are better because they are look at credit to debt ratio. It’s better to have $2k on a card with a $20k limit than $2k on a card with a $5k limit, because you are using a lower percentage of the credit available to you.

     

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    megasaurus_rex :  We also put all bills and everything on the CC. Probably about $3k per month.

    Post # 30
    Member
    1506 posts
    Bumble bee

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    slomotion :  citicard 2% cash back is best if you don’t want to manage and monitor points. You just get 2% back that you can deposit in your bank account. I pair this with a discover card which has rotating categories of 5% back on things like restaurants, Amazon.com, gas, department stores, etc. 

    I think it’s good to use credit cards if you can pay them off in full each month and qualify for cards like that. You can get even better savings with points if you manage it well, but those 2 are the “don’t want to think about it” ones 

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