(Closed) How Much Credit Card Debt Do You Have?

posted 11 years ago in Money
  • poll: How Much Credit Card Debt Do You Have Collectively?

    $0-$1000

    $1000-$3000

    $3000-$6000

    $7000-$10,000

    $10,000+

  • Post # 47
    Member
    23 posts
    Newbee

    We are paying ours down.  Christmas really did us in and thankfully we both have great jobs.  We are paying $1000 a month towards our cards.  Thankfully most everything is 0% APR right now.  Got to love playing the credit card companies againist one another!

    Post # 48
    Member
    4211 posts
    Honey bee
    • Wedding: August 2010

    @MrsMaine: haha good! It is a really great idea because we still have them there in case of emergencies but we are not able to use them.

    Post # 49
    Member
    2570 posts
    Sugar bee

    I pay it off every month, but I use it a lot. I think using CCs is important because it builds credit and gives you a safety net in case you need to use them and cant find the cash right away. Not to mention, if correctly managed you get a lot of free stuff such as money back, travel points, free gift cards.

    I use it a bit like a debit card.  I pay it all off or a portion of it off with each paycheck every two weeks so I am never surprised by the # amt owed

    Post # 50
    Member
    280 posts
    Helper bee
    • Wedding: September 2010

    I am debt free….  My husband on the other hand accumulated a lot of debt after loaning some money to a friend, which didn’t get paid back (this was BEFORE he met me- I would have never let that happen. The friend has started to pay it back now, but very slowly.)  He put all of his home renovations on credit cards assuming that when he was paid back he’d be able to pay them off.  That’s like $13,000.  We’re working on it together now and should have it paid off by the end of the year.  Lesson of the day:  NEVER loan money to friends.

    Post # 51
    Member
    4211 posts
    Honey bee
    • Wedding: August 2010

    @MrsMaine: We definitely have debt – just dont really want to post on here how much we have! I feel like its way too personal (and dont think my husband would appreciate it) but we have a good amount of debt. Shit happens and sometimes you have to use the credit card….even if you have emergency funds! And when I was making $27,000 and he was making $45,000 in the DC area…savings were just not even possible!

    Post # 52
    Member
    254 posts
    Helper bee
    • Wedding: July 2011

    I have under $1000 but my fiance has a lot more than that ๐Ÿ™

    Post # 53
    Member
    245 posts
    Helper bee
    • Wedding: June 2011

    My Fiance and I are both debt free. We both paid our way through university without any loans and now I use a credit card but I make sure to pay it completely off every month. I only really use it to buy things online haha. There’s probably $300 on it right now that will be paid when the bill comes.

    Post # 54
    Member
    203 posts
    Helper bee
    • Wedding: February 2011

    I finally paid off my credit cards (they were used in grad school to pay bills as necessary), and now am working on getting that student loan debt fixed up (yay $60,000)

    Post # 55
    Member
    1041 posts
    Bumble bee

    I already commented, but before I became debt free I was in debt up to my ears. The only way I got out of it was moving in with my FH (then boyfriend)…he didn’t charge me any rent so all my money went to paying it off. It took over a year and my credit is still in the shitter, lol.

    I feel like a lot of the people with debt just aren’t posting…I don’t know how apt I would have been to post back then..I was so embarassed!

    Post # 56
    Member
    620 posts
    Busy bee
    • Wedding: January 2011

    I put my CAR on my credit card! ๐Ÿ™‚ I have a zero percent interest rate though, and plan to have it paid off when the 0% goes away in December. So yeah, I have credit card debt but I wasn’t going to pay 3% for an auto loan when the credit card doesn’t charge interest! I have excellent credit so the company gave me two years at 0%. I owe about $3k on it still.

    I wouldn’t recommend this method for everyone, but I’m really good at managing finances so it works for me.

    Post # 57
    Member
    6980 posts
    Busy Beekeeper
    • Wedding: February 2011

    @blondeeebuckeye: that is awesome! and a great idea if you know you’ll be able to pay the car off in time. I took a 5 year loan on my car so that definitely would not have worked for me ๐Ÿ™‚ 

    Post # 58
    Member
    620 posts
    Busy bee
    • Wedding: January 2011

    @CorgiTales: I have a feeling that I’ll never be able to do that again ๐Ÿ™‚ I sold my old car for a lot more than I had anticipated, and I ended up putting down about 60% of the total cost. I figured out what my monthly payments would be and thought they were reasonble so I threw it on the credit card. The car company was pissed I didn’t finance through them Laughing Some people thought it might hurt my credit score, but the limit on that card was so high it was still less than 40% of the total limit when the balance was at it’s highest.

    Post # 59
    Member
    6980 posts
    Busy Beekeeper
    • Wedding: February 2011

    @blondeeebuckeye thats great! I drove my last car (college car) until it died and got $500 as trade-in value for it haha. Just bought my first “grown up” car and was only able to put about 25% down on it. I do hope I’ll be able to put some extra money towards it after the wedding and pay it off in 3 years vs. 5 but the rate on 5 years was the same as 3 so I figured I’d take it out as far as possible and give myself the option of making lower payments when necessary. 

    Post # 60
    Member
    606 posts
    Busy bee
    • Wedding: April 2009

    Our only debt is our mortgage.  It’s the only thing we’re willing to go into debt for–cars, furniture, appliances, anything else…paid for in full at the time of purchase.  We HATE the very idea of being in debt.  I get nervous just thinking about it.

    Post # 61
    Member
    7038 posts
    Busy Beekeeper
    • Wedding: September 2010

    NONE! And we plan to keep it that way!

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