Post # 31
In the US, one of the factors that goes into calculating your credit score is utilization ratio (the ratio of average spend/credit limit). A low ratio is good, so raising your credit limit while keeping your monthly spending low can really work in your favor.
That said, I agree with your larger point about the credit system. I find many aspects of the credit score calculation methodology baffling and illogical.
Post # 32
SithLady : saratiara2 :
just ignore my comment as obviously it’s all very different on how they assess lending criteria. 😊
Post # 33
haha I agree! I have the same cards 🙂 we paid for our flights to Greece for our honeymoon with the sapphire!
Post # 34
We’re doing really well if it’s below $2000. Typically, it’s around $2500.
ETA: Cashback is where it’s at. We’ll never just pay cash for everything, because that doesn’t give us a benefit.
Post # 35
It depends on the month. Fiance has an airline miles card that has allowed him go to India business class for free and allowed us to get two business class tickets to Tokyo for free, so we put everything on cards (and pay them off. I hate interest). Last month we went to London and stayed in a really nice hotel and had amazing meals (we got engaged as well), so my credit card bill from that was over $6K. This month I was pretty frugal, recovering from the holidays, so my cc bills were about $2500.
Post # 36
For me personally, not FH, it’s about 1000-1500. I’m missing out though. I don’t get all my bills to draft to my credit card. For you that have car payments, do you pay those with credit cards? That’s 400 dollars worth of points i could be getting every month! Wow! What about student loans? All mine are just set to automatically debit from my bank account but i just realized how many points I’m throwing away.
Post # 37
I use my credit card for everything I possibly can. I spend very little day to day, as in I never run into the gas station for a soda or get fast food. Food and drink expenses are all confined to grocery store and restaurant charges. I will also go days and days without spending. But then I buy a few high ticket items a month: plane tickets, hotels for trips, home reno supplies/services. I would say my average bill is around $2500. I pay it off every month and have accrued enough air miles over the past few years that my fiance and I will fly first class on all flights for our European honeymoon next year.
ETA: I try to tip all people in the service industry in cash because that is better for them. Probably miss out on about 1,000 points per year because of this, but oh well.
Post # 38
We use our credit card for literally everything except rent/car payment because of the cash back, and just pay it off each month. We prob spend about $3k-ish per month, yikes. A lot of that is eating out, double yikes.
ETA: When I was living alone, I could sometimes squeak by with a cc bill as low as $800 a month, but it was usually more like $1200.
Post # 39
Thats a good point about car payments. I need to look into that. I feel like I had to give them my bank info when I was doing all the paperwork for the car loan, so I’m not sure if they allow credit cards? But damn I should be putting that on the cc for the cash back if I can! Thanks for the reminder to check up on that!
Post # 40
congrats on your engagement!
I think there are certain things that you can’t pay with credits cards…it stinks! I guess they don’t want you paying “debt with debt”
this is the same with us…lots of food lol whoops!
Post # 41
3000ish? 4? We put literally everything on our CC for the points. If we could put our mortgage on our CC to get points we totally would!
Post # 42
“Curious about others spending habits…not whether or not you have a “bill” or pay off your balance or don’t.
” — I’m really confused about what the first part reveals, without taking the second part into consideration. Some people put 20k a month on cards, some people put 0. Most people put somewhere in between. No mystery. Without knowing if/how they’re paying it off, the amount spent doesn’t tell you anything.
Post # 43
we also pay for literally everything possible with a credit card and pay it in full each month. It helps us track our spending. The only big ticket items we can’t charge are our mortgage and the baby’s daycare (we also have a 7 month old!). I just looked at our spending for last year and the average is about $4k not including one-time larger expenses (annual car insurance, home repairs, taxes, vacations), but it does include all of our groceries, gas, utility bills, cell phone bill, clothing, gifts, restaurants, pet care, etc. We could definitely do better but considering we still saved 14% of our take home pay despite preparing the house for a baby and taking 3 extra months of maternity leave unpaid I’m not going to stress about it too hard right now.
Post # 44
there are so many options depending on what you’d use the most, but the easiest is to get a simple cash-back card. I personally like the Amex Blue Cash for my every day stuff because it’s 3% back on groceries, 2% on gas, and 1% on everything else. It’s just free money! We also have an Amazon card and a Target card that get us 5% off/back at those stores which is where she shop at the most. Even if you just find one card that gives you 1-2% back across the board you’ll be ahead of the game. We get several hundred dollars a year back and aren’t even THAT good at playing the credit card game.
Post # 45
people have been confused on this post if I am asking whether or not they pay their credit card balances in full. I was clarifying that I was curious on monthly spending habits, like my post says. You’re right, some people put 20k on their cards a month, some people put 0….which is exactly what I am asking lol. No mystery that I don’t care if you are paying off your card if I am asking about how much NEW debt you are adding to your card each month whether or not you pay it off at the end of the month or not.