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

posted 7 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 # 32
    Member
    1403 posts
    Bumble bee
    • Wedding: September 2014

    View original reply
    @Washingtonian:  the Metro is not in debt to you.  That makes no sense.

    Post # 33
    Member
    10635 posts
    Sugar Beekeeper
    • Wedding: January 2011

    Depends on how things are being discussed, but technically, yes it’s a debt.  If you want to calculate your networth at that point in time it goes on the debt/liabilities line.

    Post # 34
    Member
    48 posts
    Newbee
    • Wedding: January 2006

    @cbgg:  I agree with you!

    Post # 35
    Member
    6112 posts
    Bee Keeper
    • Wedding: August 2012

    Any CC bill not paid off yet is technically temoporary debt, and as AB Bride mentioned, that negative amount will get used to calculate your net worth at that point in time.

     

    However, If I were to say I’m debt free all but for the mortgage or that I have no crecit card debt, I don’t consider my CC bill that is paid off monthly.  If you say you have credit card debt, I would assume it’s a balance that you carry month to month because you cannot pay it off.

     

    It’s a technicality I guess!

    Post # 37
    Member
    1127 posts
    Bumble bee
    • Wedding: September 2014

    View original reply
    @HannahGrace:  it makes perfect sense; i prepay my card.  it owes me $20 in rides because i have lent them $20.  

    Post # 38
    Member
    1403 posts
    Bumble bee
    • Wedding: September 2014

    View original reply
    @Washingtonian:  Yeah, no.  They are putting your money in a different form, but if you lose the card, unlike a credit card, you won’t be getting a new one, and you won’t be listed as a creditor on their corporate filings.

    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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