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

posted 4 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
    5480 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
    937 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
    4528 posts
    Honey bee
    • Wedding: April 2015

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

    Post # 6
    13991 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
    1045 posts
    Bumble bee
    • Wedding: September 2014

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

    Post # 8
    11178 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
    4528 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
    7180 posts
    Busy Beekeeper
    • 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
    937 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.


    Post # 12
    2877 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
    32 posts
    • Wedding: April 2012

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

    Post # 15
    12259 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
    277 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

    The topic ‘Do you still consider it debt if you pay off your CC 100% each month?’ is closed to new replies.

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