Post # 46
I have a little under $1,000 in credit card debt that I could, technically, pay off at any time and be debt free. My fiance has no debt… no student loans (he had a free ride from scholarships) and he’s never had a credit card.
I’ve paid off my credit cards before with the intention of carrying a small balance and paying it off month to month, but I always fall into the same pattern:
Me: “Ooh! Look! No debt! I can buy ALL THE THINGS!”
And I end up racking up my bill a little more than I would have, had I just had a small amount of debt. So now I carry a little bit of a balance in order to check my spending habits. I pay a little bit in interest, but not too much, and the system works for me! (And my credit… I have a 750 credit score)!
Post # 47
I have a student loan and a mortgage. I also have a debit card, which I use every day, and an overdraft (interest free).
No credit card debt though. I have one for emergencies, but that’s it. I used to use it overseas as well, but most countries accept debit cards now, so I don’t need to use it any more. I paid off the balance every month when I had it, via direct debit.
Post # 48
We don’t believe in carrying credit card debt. I consider paying unnecessary interest on par with flushing money down the toilet. We use our credit cards for pretty much everything because we get cash back and it makes it really easy to track all of our spending, but everything gets paid off in full so we never carry a balance between payment periods.
Post # 49
We have a blance on one because we just did some home renos and did one of those store “no interest for 12 months cards”, so we’re paying a set amount every month on that one. But other than that none.
We had a lot for years, and worked really hard to pay it off. I refuse to go back!
Post # 50
- Wedding: September 2012 - Southern California
DH & I each have a credit card that we pay off every month, no excuses! We do have one account that has like less than $1k on it now from some necessary car work, but it has 0% interest so we are paying that off before the 6 months is up which isn’t a problem. It’s nice to have the running credit at no extra cost & to keep our money in the savings :]
Post # 51
- Wedding: April 2014 - Italian Villa
Ummmm… unless you are from a different country with weird rules, you don’t have to keep a balance on your credit cards to keep them from closing! And you shouldn’t! It’s just wasted $$$ toward interest.
Like PP, we pay ours off every month, and we have a couple that we don’t even use any more. TIP: even if you aren’t going to use a credit account any more, DON’T CLOSE IT. Your credit score is influenced by how much credit is available to you (and how you use it). If you close a credit card account, your score will plummet suddenly because you have less credit available to you. Just cut up the card and move on.
Post # 52
ahhh i have 3000 in credit card debt…honestly it’s been all the showers and wedding festivities of the last 3 years…been a bridesmaid 7 times (MOH twice).
Post # 53
same here….stupid stupid university student!
Post # 54
I have two cards. Unfortunately I was in quite the pinch a year ago and was unable to keep up with even minimum payments, so my one card has gone to collections and I can’t get it back until my entire credit score is good (which it won’t be for a few years because I was stupid and wasn’t paying my student loans either and guess what, those went to collections too!). My total credit card debt is roughly $1200, I could have it paid off in 3 months, but since I’m trying to focus on all debts at once, it’ll probably take me closer to a year.
Post # 55
I think I currently have about 3-3500 in CC debt, but I usually pay it all off before my bill is due. I have a mortgage, but no student debts as of about 1 year ago (wooo hoooo)
Post # 56
We have a shared credit card that we pay off every month, and I have my own that I use to pay for Netflix and to reload my Starbucks app.. Just to build my credit because my husbands was much better than mine.
I cannot even understand the ‘no credit card’ mentality.. How do you build credit without one?!
Post # 57
I use credit cards for absolutely everything. The only time I ever use my debit card is when I have to (because they don’t take credit cards). I never ever have cash on me. I spend cash too fast because it feels like guilt free spending to me (it’s already out of my bank account so it feels like it’s already spent to me)
However, I pay my credit card off every month. I never spend more than I can afford. I use my credit cards for the rewards – I get airmiles which I convert into gift cards to starbucks. So using my credit cards funds my coffee habit and it doesn’t cost me a cent. I have never carried a balance on my credit card and never plan to.
We have a joint credit card that gives us 2% cashback on groceries. We also pay this one off every month. At the end of the year we usually have around $300 we get back for just using it.
Post # 58
Right KC, my credit score wouldn’t be what it is without opening credit card accounts. It also boosted after buying our house. But having established credit from credit card use helped with the house qualification process. So, it’s very cyclical. Refusing to get credit cards is not good, especially since credit plays a role in so many things. The key is discipline. Credit cards don’t use themselves, it’s people who cause credit cards to be troublesome.
Post # 59
We used to be pretty bad with credit cards but for the last year we put our focus on paying them down to the point where we don’t carry a balance from month to month.
Just wondering when you call the CC company what do you say to them? TIA!
Post # 60
You just ask if you’re eligible for an APR reduction. I just got one on my Capital One card a few weeks ago, and I also qualified for an upgrade to a card with more cash back incentives. None of this involved a credit check. It was basically earned due to my good payment history.