how much credit card debt do you have? do tell please

[Anonymous]

Anonymous wrote:I do not understand the horror around CC debt. A lot of companies offer zero percent financing for things. You are just dumb if you don't take up those offers. Just like zero percent on the car - yes, I could pay it off, but if someone is letting me invest money now to pay them later at zero interest, why wouldn't I take that deal?

My time is valuable. Why waste time remembering when to pay things off so I don't trigger interest? Just pay things off as you buy them. Much simpler and less stressful.

[Anonymous]

$0 First job was at a commercial collections law firm. It scared me straight from day one. Hated the job, but learned a valuable life lesson.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Totally possible. So what. As long as you can make the payments who cares.

Because the interest would be INSANE! I'm the $30k poster and my interest was over $700 a month. I'm assuming they aren't paying that balance off monthly.

Not PP, but I've got a Capital One credit card with an available credit line of $30k and an APR of just over 3%. (We've rack up about $4k per month in CC debt, but pay it off every month.)

[Anonymous]

Anonymous wrote:I completely understand that shit happens sometimes and you need to carry debt.

But the posters who have a $300+ HHI there is NO excuse to carry around credit card debt. You are just morons if you do that and/ or incredibly irresponsible with your money.

Don't be an ass. Our family has about $250k HHI and we had (at one point) about $55k in CC debt. That's because we had debt remaining from a house purchase we were paying down, and our credit card had an effective rate of 3%. We rolled that debt over to pay off debt at around 6.5%.

Not everyone's situation is the same as yours, and there are plenty of reasons to carry revolving debt other than expensive clothes purchases.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I do not understand the horror around CC debt. A lot of companies offer zero percent financing for things. You are just dumb if you don't take up those offers. Just like zero percent on the car - yes, I could pay it off, but if someone is letting me invest money now to pay them later at zero interest, why wouldn't I take that deal?

That's a great strategy if you have the money to pay it off. That's not the credit card debt people are in horror of. Lots of people are paying very high interest rates, fees, etc. of they don't read the fine print on the 0% and miss a payment or charge additional items that makes the interest rate jump up. Not everyone is financially savvy.

Sure, but in that case I'm not sure why there's this tone of underlying moral rectitude when people pat themselves on the back for having zero debt and "only using a debit card".

Be an adult and curtail your spending. Use the credit card. Pay it off every month. And get a bunch of miles.

[Anonymous]

Anonymous wrote:

Anonymous wrote:0! Why would anyone ever carry a cc balance?

+1

I use the credit card for everything and get reward points for cash back & pay off the balance bi-monthly.

How do people get such high cc debt, don't they get their card declined? Do they have a huge amount of cards - if so that's just asking for trouble (however I understand how money/bills can really add up so I hope those that have the debt can stick to a plan to pay it off and I'm sorry for your stress).

I never used to and was a bi-monthly payer. Then I lost my job, moved to a new city, and had a 3 week lag between starting a new job and getting paid. Then my 6 months of car insurance was due. Then the car broke down. Hopefully by the middle of May I'll be back on my usual schedule.

[Anonymous]

Around $3000 but I prefer to have 0. I am not good with credit cards and prefer to not use them at all.