Do you have credit card debt?

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  • paulperryman
    paulperryman Posts: 839 Member
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    Simple philosophy. if you can't pay for it with cash you can't afford it.
    I have a Visa (with no credit line) so i can pay for things using the reduced costs of a credit card transaction but can't go into debt.
    also counts as a credit card for anything requiring one.

    The only debts i have is car payments which i could pay off the loan at anytime but i chose to let it ride as i wont be paying extra interest for the life of the loan it's a set amount.
  • mlcantwell
    mlcantwell Posts: 243 Member
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    Nope, I alway pay it off, I just have one to build credit. I do have student loans though, and that causes a lot of stress.
  • nyssa1231
    nyssa1231 Posts: 120 Member
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    We use one credit card for the travel rewards and pay it off each month.

    Now, student loans, that's another story. :(
  • xampx
    xampx Posts: 323 Member
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    I used to. And it took 4 years of having a well paid job to pay them off.

    Now I have a credit card which I only use to buy petrol and food and I pay it off in full every month. I only use it because I get cashback.

    If I want to buy something big and expensive, I buy it with my debit card. If I don't have the funds, I don't buy it. Or if I REALLY need it, I use my savings.
  • ArroganceInStep
    ArroganceInStep Posts: 6,239 Member
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    I was over 100k in the hole with unsecured debt about 4 years ago. Now I'm down to under 10.
  • Follow_me
    Follow_me Posts: 6,120 Member
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    Not one penny! In fact, I'm the guy that screws the CC companies over. I recently applied and received the Southwest Airlines CC. Charge and pay off $1000 in 3 months and receive a free round trip ticket. I knew I had to replace the gutters on my house. So, I paid for it with the CC and a couple other items to exceed the $1000. Now, I'm just waiting for the bill, pay it off and get my points good for my FREE trip. :-)

    Then, I'll cancel the card and see what else is out there.
  • Brandon74
    Brandon74 Posts: 453 Member
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    I have a $400 balance on a credit card and that is my only credit card debt. I do have student loan debt that I have to worry about. I couldn't picture myself with a 24K credit card balance.
  • wolverine66
    wolverine66 Posts: 3,780 Member
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    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 got into trouble years ago with cc debt. It got out of control and took forever to pay it off. Never again!

    I'm confused. You can't believe how someone could do it, yet you have problems with cc debt before?
  • amandajones1978
    amandajones1978 Posts: 140
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    I have $3900 in CC debt...half of that is dental bills..oy! And I have $33,000.00 in student loans. I'll be paying that off forever! :(

    Like another poster, every year I take my tax return and pay down my debt. Eventually I will get there, until then I economize and buy only what I NEED in cash.
  • Routerninja
    Routerninja Posts: 201
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    One credit card, $500 limit, stashed in my wallet for OMGIMAYDIE Emergencies. I dont think I've charged anything on it in months.
  • kenzietate
    kenzietate Posts: 399 Member
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    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 wish I had more scholarship opportunities where I was. I had tuition covered though Hope Scholarship (I live in GA) and had at least 1 to 2 other scholarships each year. Plus I worked for the school and had an internship for two summers and still have $20,000 in student loans. My husband and I have about $2200 in CC debt due to us both being unemployed for about 6 months but we have never missed a payment and are slowly paying it off now that we are working again. So we both still have really good credit!
  • sedwards9999
    sedwards9999 Posts: 160 Member
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    I have one card for online purchases or restaurants etc. That one gets paid off every month. I have another one that I used for a major purchase (4k) that I pay a few hundred per month.
  • coachblt
    coachblt Posts: 1,090
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    I do not have any credit card debt and it's been about 5+ years since I've had any. Then again, I don't have credit cards any longer, so obviously, no debt.

    Yay Me!
  • crista_b
    crista_b Posts: 1,192 Member
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    Got into some debt from going through college with no money and not being able to find a job while I was there. I'm around $5k in for CCs and $65k for school loans. :sad:

    But now that I'm working full-time, I'm paying off my cards and making my loan payments each month and should have my cards paid off in just over a year from now! But then I need to buy a car. :ohwell:
  • InnerConflict
    InnerConflict Posts: 1,592 Member
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    Women racking up credit card debt during college is so archaic!

    http://www.huffingtonpost.com/2011/07/29/seeking-arrangement-college-students_n_913373.html
  • ACepero79
    ACepero79 Posts: 711 Member
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    Up until February of this year, I carried less than $10k in credit card debt and paid it all off in one lump sum. Since then, I only carry balances on cards that offer zero interest purchases. I will then pay them all off completely once again in February of 2014. I don't mind carrying balances as long as I have a plan to pay them off before the accrued interest kicks in.
  • silver_arrow3
    silver_arrow3 Posts: 1,373 Member
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    I thankfully have no debt at all except up to $750 - the max of my one and only credit card. It gets paid off every month, so all good. :)
  • DarkAngel262
    DarkAngel262 Posts: 118 Member
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    My parents really discouraged credit spending when I started mentioning in college that all my friends were getting them. Luckily they explained how credit works so I've had the same two card for 5 years or so. My total credit card debt is $800. That is just on the request of my financial planner to keep a % on the card to build my credit (it isn't bad, just don't have a lot).

    I was very lucky that scholarships and going to a small school left me without student loans.

    I do owe my mom $2,700 for assisting me in my move across the country. That of course, I pay in a timely manner but isn't collecting interest!

    So at 30 to have $3,500 in total debts I don't think is too terrible. I, like the OP, have had friends who relied on credit cards and many of them have horrible credit or have even had to file for bankrupcy!
  • MsMarlaMae
    MsMarlaMae Posts: 144 Member
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    So impressed with all the debt free folks! Good for you!

    While I was married over 12 years, we got in a bit over our head in cc debt. About 14k total. In the divorce I took most of the debt from credit card, but have paid it down to about 10k. I put it all on a no interest card, and make a monthly payment large enough that it will all be paid off by the time the 0% runs out.

    So as of June next year I'll be CC debt free. I will NOT do this again, ever.
  • SMarie10
    SMarie10 Posts: 953 Member
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    Question for those responding.... Would you ever loan money to some one, interest free, when you knew they were in dire straits? I did this thinking it would be a year for them to pay it back - now going on two years and only about a third of the loan has been paid back. Guess I learned a lesson about trust..

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