Credit Card Debt Anyone?

vtmoon

The problem with the holidays in general is the expectations of copious amounts of presents. In some people's situations, $20 might be a lot - in other people's, $2,000 might be a lot. Either way, it's an over expenditure of money spent that will never generate income for you and the recipient - in most cases - will likely not utilize the product enough times to make the expense worth while. Unfortunately, society has developed to where children require gifts 'lest they want to be picked on in school, or whatever else comes with not getting a 60 inch HDTV, a PS12, Wiis and so on. I think our ancestors had it right - buy an orange, make a scarf and spend time together. No credit cards needed, and the *time* spent together was the real gift. That and fruit cake.

Deep, you should write a book.

creditsabre

It is really a pain in the head to find ways to pay your credit card debt especially when you don't have the means to pay it. If you have multiple credit card debts, it is advisable to keep one current and active. That way, even if all the other cards are due, you still have an up-to-date credit card to use in critical situations. You can learn more about credit card debt by visiting my website http://www.creditsabre.com.

coretemp

No way!

Athena53

As the mother of a 20-year old daughter, the gift I love best is spending time with her, especially during the holidays. I would be quite upset if she had spent money she doesn't have on her loved ones. No gift is worth going into debt.

That's my feeling and I'm the mother of a 29-year old son who was married last year and has a baby on the way. Rule #1 is "don't buy us (parents) stuff." I'd hate to think anyone was running up credit card debt to buy me a gift.

I love my credit cards but I pay them off in full every month and leverage them for free flights and hotel stays. I've probably paid less than $100 in cc interest in my entire life and I'm 60. They're not evil in and of themselves, but if you carry a balance you can dig yourself into quite a hole.

Beastmaster50

I have auto payments set up so a small amount every week gets sent to my credit card company. Breaking it up weekly is a bit less painless but it really helps cut down the debt

TheRoadDog

Minimal. Hard to travel without one. I carry two. Mainly for travel. Afe years back, I paid them all off and tried using my debit for everything. Tried to book a trip to Puerto Vallarta and pay it with my debit card. Couldn't do it. Because of the maximum amount I could charge on my debit, it turned into a reall PITA. I have since gone to my bank and fixed that, but I have kept my two credit cards current for emergencies. I also have a Gas Card that is in my name and my daughter's, so that if she needs gas and has no cash, she can get it on the card. (She's going to college and working 30 hrs a week and her planning skills are less than perfect.)

Credit is what the World runs on. Sadly.

My parents' generation paid cash or went without. It's what I try to do as well and try to teach my daughters, but they're not listening too closely.

cad39too

no debt....they are used only for the protection they provide me when shopping online, booking travel etc and the whole balance is always paid off immediately.

TheRoadDog

The average US household credit card debt stands at $15,270, the result of a small number of deeply indebted households forcing up the numbers. Based on an analysis of Federal Reserve statistics and other government data, the average household owes $7,123 on their cards; looking only at indebted households, the average outstanding balance rises to $15,270.

Here are statistics, trends, studies and methodology behind the average U.S. household debt.


Current as of January 2014

U.S. household consumer debt profile:
■Average credit card debt: $15,270
■Average mortgage debt: $149,925
■Average student loan debt: $32,258

In total, American consumers owe:
■$11.36 trillion in debt ■A decrease of .1% from last year

■$856.9 billion in credit card debt
■$7.93 trillion in mortgages
■$1,049.0 billion in student loans ■An increase of 11.% from last year


The median household income in the United States is $46,326. That means that the average American debt is at 1/3 of the average American Income. Pretty sad.

BekaBooluvsu

I signed up for one of those debt reduction things. It turned out okay. I had $11,000 in debt (mostly from braces) and I got it settled and paid off for $5,500. I wouldn't recommend it now because they changed the program so some creditors don't take less.

I still have credit cards. I buy in bulk online for certain things and then takes me 3 months to pay off. Otherwise I don't put anything on there unless I absolutely need it.

My current credit debt is $110.

I don't think I am doing that bad considering I own my house and car outright.

Erikalynne18

My credit card got up to $800 and I had a mini panic attack even though that included our trip home and was split between 2 of us.

I pay mine off every payday! (except this time I am managing it over a few pay days). This way my credit score increases while my personal debt does not. I try not to charge anything major to my card that I don't have the cash for, this way it is always available if an emergency does come up (which is the original reason everyone justifies a card right?). I bought a major gift for my fiancé for x-mas and in anticipation of that I saved up for 4 months.

TrevNiel22

did not read any posts

Roughly 500$.

I took a trip so it went up a bit, but will bring it back down as soon as I can.