(Closed) How much Credit Card debt do you have?

posted 6 years ago in Money
  • poll: How much credit card debt do you have?

    $0 or pay it off every month and carry no balance

    Amount that can be paid off in more than 1 month but less than 1 year

    Amount that can be paid off in more than 1 year less than 3 years

    Amount that can be paid off in more than 3 years but less than 5 years

    More than that

  • Post # 76
    Member
    7440 posts
    Busy Beekeeper

    View original reply
    carmor:  I just call and ask if my APR can be lowered. Sometimes they say no. The card I have a balance on changed it from 12% to 9%. The card I have paid off has me at 0% for the year as I plan the wedding. 

    Post # 77
    Member
    2430 posts
    Buzzing bee
    • Wedding: July 2012 - The Gables Inn, Santa Rosa, CA

    We don’t really carry anything on our credit cards.  We have 5 cards between us, but only use 1.  We have 1 “emergency” card that our credit union gave us without our applying that we’ve never used, and the other 3 are older student cards that have crap terms, so we don’t use them, but also don’t close them for “age of account” purposes on our credit score. 

    We have more overall debt than I’d like right now given that we recently bought a boat for DH, but he found a great deal, and we’re hoping to have it paid off by the end of the year or close.  Then we just have my car, student loan and the house.  Without the boat loan, we can live on DH’s income alone (and could with the boat, but it would require tighter budgeting).  His truck is older, and we’ll probably replace it once my car loan is gone which is about 2 years away without any extra payments.  

    Post # 78
    Member
    176 posts
    Blushing bee

    I have an AMEX rewards credit card that I like to use because it gives me miles for travel. So I generally use that card for all purchases and pay the balance off at the end of the month. So I voted, 0 or that I don’t carry over a balance. I have other credit cards but they are for emergencies only, the AMEX is the only one I carry with me.

    Post # 79
    Member
    179 posts
    Blushing bee

    Right now I have around $46.00. I will pay it before the bill is due though. I only ever carry a balance if I have something like an unexpected medical or car related expense that I don’t want to pull out of my savings account.

     

    Post # 80
    Member
    3527 posts
    Sugar bee

    I usually pay my balance in full every month- what with the wedding coming up and one of my paycheques getting lost in the mail >:( I’ve been using it a bit more lately but will have the balance all paid off again by the end of September. 

    Post # 81
    Member
    495 posts
    Helper bee
    • Wedding: December 2016

    6k from when I was a student and the first few years after graduation. Not spent on it for 2years and never intend to. Hoping to pay off £100 p/m to get rid of it. I currently have it interest free for 36 months and no other debt. 

    Post # 82
    Member
    543 posts
    Busy bee
    • Wedding: October 2016

    I detest debt — unless it’s ‘good’ debt  – like a house, or land etc… other than that I pay my ish off every month!

    Post # 83
    Member
    1752 posts
    Buzzing bee
    • Wedding: February 2015

    View original reply
    TheFutureMrsShah:  I know from experience that paying rent and utilities on time has minimal impact on credit scores. When I didn’t have credit cards my score was considered “ok”. Once I started obtaining credit cards, my score increased over 50 points. So, I know that having credit cards and making timely payments is more impactful. Many apartment management companies do not report anything to credit bureaus unless you’re delinquent.

    Post # 84
    Member
    7382 posts
    Busy Beekeeper
    • Wedding: January 2011

    View original reply
    MrsCallalily:  I get notices for one card due to lack of use.  It gives me sufficient warning though, I have months to use it before it would become inactive.  I just make sure to purchase something – usually something small shortly after getting one.

    I do agree it seems silly to currently carry a balance.  It would make way more sense to me to just lose out on better rewards on say a cell phone bill to use a card that offers more rewards than paying interest on $100 every year.

    Post # 85
    Member
    4097 posts
    Honey bee
    • Wedding: February 2013

    None! I have a J.C. Penney card that I use to make small purchases just to keep up a running line of credit, in case I ever need to take out a loan. I got my last Visa card 3 years ago and I still haven’t activated it.

    Post # 86
    Member
    1320 posts
    Bumble bee

    I have no debt. I only buy something with my credit card if I already have the money to pay it off. My dad was very serious about teaching me financial responsibility, and I don’t want to owe anyone anything.

    Post # 87
    Member
    6331 posts
    Bee Keeper

    I pay it off every month. Interest is expensive, and I want to maintain a good credit score. Plus, I want to maximize my cash back

    Post # 88
    Member
    223 posts
    Helper bee
    • Wedding: March 2016

    $0 we have never used a credit card. We just got our first one as part of our home loan package (by having one we got an awesome interest rate!) but we don’t plan on using it, except for emergencies. In Australia, for our circumstances, as long as you don’t have a bad credit score you can get a loan so we didn’t need a credit card to get a loan 🙂

    Post # 89
    Member
    845 posts
    Busy bee

    Zero. Had a credit card, used it once to buy a car battery. Paid that off and then the card experied. I only pay with money in the bank, except for that time I bought a car battery.

    Post # 90
    Member
    530 posts
    Busy bee

    You guys making me feel bad 🙁

    Fiance has a 11k loan from buying his tools. He worked for a shady ass guy for a while and the guy ended up smashing his tool box and stealing his tools. Funny how I have no student loans and he ended up with a loan…

    On top of that, have $600 in 0% apr until next month, another 1k on another 0% apr card, both will be paid off before interests kick in and about $400 in a regular credit card.

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