Do you have credit card debt?

Lisa1971
Lisa1971 Posts: 3,069 Member
in Chit-Chat
A good friend of mine just told me she has over $24,000 racked up in cc debt! I was like "OMG are you kidding?????" She isn't worried in the least and said "Yeah, I just charge everything. No big deal." :noway: Seriously? I wouldn't be able to sleep at night if I had that much debt just on credit cards! I try and pay mine off each month but I am amazed how some people can just plop down the plastic and don't really think of it as "real money." (That's what she said anyway...that it doesn't seem like "real money" to her!) Wow.

I just smiled and changed the subject. LOL. :laugh:

So do you pay off your cc debt each month?
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Replies

  • DonnaRe2012
    DonnaRe2012 Posts: 298 Member
    I do one better....If I buy something with my cc I am not allowed to buy anthing else till that item is paid off.
  • Lisa1971
    Lisa1971 Posts: 3,069 Member
    I do one better....If I buy something with my cc I am not allowed to buy anthing else till that item is paid off.

    Smart thinking! I got into trouble years ago with cc debt. It got out of control and took forever to pay it off. Never again!
  • ScatteredThoughts
    ScatteredThoughts Posts: 3,562 Member
    No. We never carry over a balance. Each card gets paid in full every month.
  • Bennett056
    Bennett056 Posts: 70 Member
    Yes, I pay off my credit cards every month. I couldn't sleep at night if I owed a significant amount on a credit card. The interest rates are crazy bad.
  • Capt_Inzane
    Capt_Inzane Posts: 733 Member
    Unfortunately after a divorce I'm stuck with a lot of debts. I've downsized my living TREMENDOUSLY so that I can pay everything off. It's going to take some time but I don't get to splurge on much (give myself a modest allowance).
  • Daniloveshockey94
    Daniloveshockey94 Posts: 348 Member
    I pay mine in full each billing cycle!! Keeps me in line!
  • Lisa1971
    Lisa1971 Posts: 3,069 Member
    Unfortunately after a divorce I'm stuck with a lot of debts. I've downsized my living TREMENDOUSLY so that I can pay everything off. It's going to take some time but I don't get to splurge on much (give myself a modest allowance).

    Oh, that sucks. Good luck to you!
  • veto1024
    veto1024 Posts: 20
    I pay all mine off at the end of the month. I like the various rewards and have never paid a dime in interest :). The person mentioned in the original post has a special kind of ridiculous in their blood. I always complain about the sorry state of mathematical knowledge in the US, but the very idea of that kind of debt should have ANYONE, regardless of their understanding of the math behind it, worried.
  • Kst76
    Kst76 Posts: 935 Member
    A good friend of mine just told me she has over $24,000 racked up in cc debt! I was like "OMG are you kidding?????" She isn't worried in the least and said "Yeah, I just charge everything. No big deal." :noway: Seriously? I wouldn't be able to sleep at night if I had that much debt just on credit cards! I try and pay mine off each month but I am amazed how some people can just plop down the plastic and don't really think of it as "real money." (That's what she said anyway...that it doesn't seem like "real money" to her!) Wow.

    I just smiled and changed the subject. LOL. :laugh:

    So do you pay off your cc debt each month?

    You must be young ( which is a good thing ) because if you think that nowadays, 24k is a lot of cc debt you are kidding yourself.
    I mean, you are right, it is alot but in today's economy its not much at all. Your friend is obviously very naive in her way of thinking. One day it will come back to hunt her big time. But there are also other reasons people use CC. For many people it is like their only source of "income". It is very very sad.
  • iKapuniai
    iKapuniai Posts: 594 Member
    I live paycheck to paycheck unfortunately, so I do charge a lot on my credit cards. Most of the time I'm only able to pay off half of what I charge in the same month, so I do rack up a bunch of debt, however, every year when I get my taxes I put about 75% of my returns back onto my cards. I've got about $17,000 worth of debt right now, but I still manage to have a credit score of 740, and so long as I continue to pay each month, I don't waste time worrying about it. I prefer to enjoy my life and remember that I'm doing my best with what I have. No sense in worrying about it if I can't do any more to change the situation, so instead I change my attitude. ;)

    Love and Alohas,
    -Ihilani Kapuniai
  • iKapuniai
    iKapuniai Posts: 594 Member
    A good friend of mine just told me she has over $24,000 racked up in cc debt! I was like "OMG are you kidding?????" She isn't worried in the least and said "Yeah, I just charge everything. No big deal." :noway: Seriously? I wouldn't be able to sleep at night if I had that much debt just on credit cards! I try and pay mine off each month but I am amazed how some people can just plop down the plastic and don't really think of it as "real money." (That's what she said anyway...that it doesn't seem like "real money" to her!) Wow.

    I just smiled and changed the subject. LOL. :laugh:

    So do you pay off your cc debt each month?

    You must be very young ( which is a good thing ) because if you think that nowadays, 24k is a lot of cc debt you are kidding yourself. I mean, it is alot but in todays economy its not much at all.

    This is true. I have a friend who went to a private college and is currently almost $100,000 in debt because of it. $24 is nothing compared to some.
  • Kst76
    Kst76 Posts: 935 Member
    My husband and I also have alot of Credit card debt due to stupid mistakes like the OP's friend but also due to things that happened to us later in life that kind of forced us to use cc.:(

    We signed up for CCCS ( Consumer credit counseling ) 18 months ago and they have been a life savior. We managed to pay off more than half our debt so far and our credit score as gone up more than 50 points! We have another 15 months to go and we have paid off every single dime we were owe,
  • mariapuhl
    mariapuhl Posts: 529 Member
    Nope no credit card debt. Granted, I'm only 23, but have no debt. Went to a private college, worked hard to have no debt from that with scholarships, work-study and internships. I learned early not to spend more than you earn... which I thought was common sense, but apparently not. So now starting my PhD that is entirely paid for plus some extra thanks to a TA position and work study.
  • Kst76
    Kst76 Posts: 935 Member
    Nope no credit card debt. Granted, I'm only 23, but have no debt. Went to a private college, worked hard to have no debt from that with scholarships, work-study and internships. I learned early not to spend more than you earn... which I thought was common sense, but apparently not. So now starting my PhD that is entirely paid for plus some extra thanks to a TA position and work study.

    You have been very fortunate. I wish more people had those opportunities. I am glad you are not wasting it away because I have seen people do that.
  • mariapuhl
    mariapuhl Posts: 529 Member
    Nope no credit card debt. Granted, I'm only 23, but have no debt. Went to a private college, worked hard to have no debt from that with scholarships, work-study and internships. I learned early not to spend more than you earn... which I thought was common sense, but apparently not. So now starting my PhD that is entirely paid for plus some extra thanks to a TA position and work study.

    You have been very fortunate. I wish more people had those opportunities. I am glad you are not wasting it away because I have seen people do that.

    Thank you - I know I've been lucky, but I've always worked very hard to get where I am, so it's kind of like a little reward to not have to worry about anything (other than that dreaded thesis!) for a while.
  • onedayatatime410
    onedayatatime410 Posts: 42 Member
    Absolutely not. I don't carry a balance from month to month. I can not stand owing any type of debt. If I don't have it, I don't have it :)
  • quirkytizzy
    quirkytizzy Posts: 4,052 Member
    No credit card debt but plenty of other bills in collection due to a divorce and school loans. I don't even qualify for one of those pre-paid kinds of credit cards.

    Truthfully, I don't worry about it. Getting food, rent, and cat litter is struggle enough. They can call all they want - can't squeeze blood out of a turnip. The few bucks I do manage to sock away every week are in savings for the inevitable car trouble, the cat that inevitably needs to go the vet. Immediate survival trumps a credit score, every time.

    Someday I'll be able to work on the debt. Just not now.
  • kms1320
    kms1320 Posts: 599 Member
    I have one for online purchases and emergencies. I usually pay it off every month because interest rates are stupid.. even with a good credit score.
  • Kst76
    Kst76 Posts: 935 Member
    Nope no credit card debt. Granted, I'm only 23, but have no debt. Went to a private college, worked hard to have no debt from that with scholarships, work-study and internships. I learned early not to spend more than you earn... which I thought was common sense, but apparently not. So now starting my PhD that is entirely paid for plus some extra thanks to a TA position and work study.

    You have been very fortunate. I wish more people had those opportunities. I am glad you are not wasting it away because I have seen people do that.

    Thank you - I know I've been lucky, but I've always worked very hard to get where I am, so it's kind of like a little reward to not have to worry about anything (other than that dreaded thesis!) for a while.

    I have no doubt you have been working very hard. Its people with your attitude that deserves to get rewarded.
    I feel bad for people who had a rough start from the beginning. In my case however, I cannot blame anybody but myself.
  • Cre8veLifeR
    Cre8veLifeR Posts: 1,062 Member
    No! I got myself into a LOT of debt when I was younger -- close to $50K (embarrassing to admit!) and it took me nearly 5 years to get out of that hole I dug myself into - thankfully I was able to take out a home equity LOC for a WAY lower interest rate and pay it off... Now my philosophy is, if I don't have the cash, I will save if I really want it, or I don't need it. Lesson learned the hard way!!!
  • msliu7911
    msliu7911 Posts: 638 Member
    I use my credit card for just about everything, earn 2% cash back on it all, then pay in full at the end of month and cash in points every few. :)

    I wouldn't be able to sleep with that much credit card debt. I do remember back in college, living paycheck to paycheck, I managed to rack up $4.5K in credit card debt and it was sooo stressful to think about (just the interest alone and the feeling of never going to be able to pay it off).. I'll never do that again as long as I continue being as fortunate as I am with the job and stability both my husband and I have.
  • MelsAuntie
    MelsAuntie Posts: 2,833 Member
    I pay mine in full each month, and never carry anything over. The last thing I need is credit card debt.
  • AllonsYtotheTardis
    AllonsYtotheTardis Posts: 16,947 Member
    Nope. Realized a long time ago that I am not good with credit cards, so I got them paid off and cut them up. Cancelled them all. Hubby has one for those times when you can't pay any other way except credit card, and it's paid off every month. Our life is less stressful this way.
  • 2stepscloser
    2stepscloser Posts: 2,900 Member
    Nope, I put everything on my card to get the rewards but it's paid off each month.
  • Dr_Waffles
    Dr_Waffles Posts: 141 Member
    i usually only buy something with a credit card if I know I have enough cash to pay for it. Then I use my Amazon card and earn points.
  • YoungDoc2B
    YoungDoc2B Posts: 1,593 Member
    Paid mine off last year. Holla :drinker:
  • JustAGirl0916
    JustAGirl0916 Posts: 1,020
    Paid every CC off and chopped em up.
  • SMarie10
    SMarie10 Posts: 956 Member
    I feel very fortunate not to have any debt - but I decided a long time ago that it was not wise to buy things I don't need just to have the material possessions. I don't live like a pauper, but certainly don't live like a princess either.
  • InnerConflict
    InnerConflict Posts: 1,592 Member
    Paid every CC off and chopped em up....If you do have debt check out dave ramsey

    Ugh. Don't drink the Kool Aid
  • Lifting_Knitter
    Lifting_Knitter Posts: 1,025
    No. We never carry over a balance. Each card gets paid in full every month.

    Yup.

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