fwiw, as long as you aren't deeply in the hole and pay on time every month, your credit score isn't dinged by carrying some revolving debt. I've never missed a payment, and most of the time we pay way more than the minimum. Our credit scores are both well into the high-700s.

Anonymous wrote:It seems that this is a bragging thread. Only one person claims to NOT pay off their cards in full every month? I call shenanigans.

We do our best not to have to use credit cards, but it sometimes happens. Like 2 emergency vet visits in one month that we couldn't just cover out of cash flow. Shit happens.

We actually do pay our balance off every month. It would be a more interesting twist to the question to find out if it has always been so and if family is similar. I know for me I married someone that paid his credit card bill off every month and that got me into gear because I didn't want this to be a source of contention or to feel like his stellar credit was being brought down by my less disciplined ways. I have family and friends that have gotten into credit card debt and not only is it a tough thing to get out from under but especially if you are delinquent, your credit history can impact getting the type of job that can help get you out from under the debt and certain things like car insurance could be charging you more under the analysis that you are more likely to file a claim. I do realize that even with being to pay the balance every month, if we had a major medical emergency or prolonged layoff, the situation could change.

As for sh$^ happens, the question is when does sh$^ not happen? Whenever we think it will be a low credit card month of planned expenses, that is exactly when the roof leaks or our car needs to go in the shop.

I did until last year.

Now I just accept that a few thousand dollars in credit card debt it just going to follow me forever. And I am actually just happier now. We got to go on vacation for the first time in 3 years. I was able to get the tires on the car replaced all at once. I was able to buy myself a much needed very good quality winter coat. Yep, they were absolutely worth the monthly payment plus interest.

And for the record, I personally think that the vast majority of people on this thread lied and are likely carrying at least $10K in credit card debt.....

Anonymous wrote:

Anonymous wrote:I have not paid a credit card in full every month since I got my first one 14 yrs ago. My husband is the same way.
We are still 20k in debt and make $150k/yr.

What we are doing now is not using our cards and paying them down each month. Should be paid off by spring. We also transfer balances around on different cards to utilize 0% interest charges.

We are not proud of our financial backgrounds, but I think we have both finally grown up.

How can a family with a HHI of $150k could pay off $20k in credit card debt in 5 months. That's $4k a month even at 0% interest. How are you managing that?? I need tips!!

www.daveramsey.com

Listen to a few shows for tips but the gist of it is strict budgets.

We pay our credit cards off every month. Don't believe in debt.

I do.

Paid in full every month. Our only debt is student loan and mortgage.

i owe about $9K in CC debt and we are on vacation right now. life is short. SUCK IT.

We do pay off every month.

There have been times when I (previously single) was not able to pay off credit cards and would carry a balance. It's nothing to be ashamed of IMHO, I was working hard, full & part-time and going to school, all the while making only $38k a year and also paying a mortgage. I didn't spend money on frivolous things and only purchased necessities.

Anonymous wrote:I'm just saying, there are circumstances that make it harder, even though we try hard and are generally smart financially. But it seems this was just an opportunity to tell people you can afford to pay $5K a month, presumably on things other than mortgage and other routine bills. I guess I have to admit I'm a little jealous.

You didn't miss anything, pp. This whole thread is designed to shame and brag at the same time. Why else would it start, "be honest"? Don't take the bait. You're doing what's right for your family.

I'm just saying, there are circumstances that make it harder, even though we try hard and are generally smart financially. But it seems this was just an opportunity to tell people you can afford to pay $5K a month, presumably on things other than mortgage and other routine bills. I guess I have to admit I'm a little jealous.

Well that was a thread hijack of the DCUMkind...

I have a spin-off question. How many of you pay off your cc balance every month who have a kid with autism. We used to pay it off without fail, even on very modest salaries (education). Then we paid for our first evaluation about 7 years ago and that was that. Downgrade in 1 parent's job to have more time to focus on therapy, multiple therapies, hospital stays, and we have a therapy/service dog for our autistic son. Dogs are expensive! Little treats and special outings for our other kid (nothing fancy, but it adds up) because it's hard to be the sibling. A few hospital stays. Wine for me. Autism has kicked our financial behinds. That said, our only debt is a modest mortgage (for this area) and the cc debt. We have stopped using them except for gas and are using cash for everything. Unfortunately we are about to start a new set of therapies so our goals might get delayed again.

Anonymous wrote:"Single parents, I feel for you, that makes it so much harder -- but I would always cut frills (like pets) over carrying debt.

Things like pets, vacations, and cable are luxuries, but everyone expects to be able to have them."

Our pets are beloved members of the family, hardly frills or luxuries. They cost a grand total of $30 per month.

I have friends whose dogs and cats needed expensive surgery and/or medication (in the thousands of dollars), which is something most people forget when they budget for pets.

I also take issue with considering pets to be family members if one is so deeply in debt that actual human family members would not be able to have adequate food, shelter, or education due to their care. They are wonderful but they are not human nor should they be considered equal to one's children when the time comes to provide for your family. I say this as someone who owned pets for most of my life.

We don't use credit cards - we each have one in case of emergency but never use it anymore.

I was burned too many times by cc companies - like when I paid my bill too early so they called it a second payment on the previous bill and said I missed a payment, so they raised my interest rate to 20%. CRAZY.

We try to live low-debt. The only debt we currently have is a smattering of student loans I am still paying down.