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Poll:How much credit card debt do you have? - Page 5

Poll Results: How much credit card debt do you have?

 
  • 42% (194)
    0
  • 12% (57)
    Under 3,000
  • 14% (64)
    Between 3,000 and 6,000
  • 8% (39)
    Between 6,000 and 10,000
  • 16% (75)
    10,000 and above
  • 5% (23)
    More than you could ever fathom...
452 Total Votes  
post #81 of 108
That's what we do too. EVERYTHING goes on the cc and I pay it as soon as it posts.

Quote:
Originally Posted by nd_deadhead View Post
I voted 0, but that's not entirely accurate. I use a CC for just about everything, from gas and groceries to medical and phone, but I pay it off in full every month (and rack up cashback dollars like crazy).

I also have our new bedroom set charged to a Slumberland account, at 0% interest for 39 months. I could pay it in full at any time, but free money was too good a deal to pass up.
post #82 of 108
UGH- We owe more on our CC than I care to say. But we just paid off 3 other credit cards, cancelled them, and cut them up. Whittling away... it is so hard this time of year but we are not using any credit anymore. I am doing a wicked budget christmas. Whipping out the card at the register... well, that is what got me into this mess in the first place!
post #83 of 108
When I married dh, I also inherited the $30k worth of cc debt he racked up as a poor grad student in his 20's. We paid it all off after we received a sizeable settlement from a wrongful death lawsuit (his dad). It is great to be debt free (well, bad debt, I still have student loans) but I'd much rather my dd have her grandfather in her life.
post #84 of 108
We canceled and cut up a year ago. Debit cards and cash here.
post #85 of 108
17 credit cards =way more the 10,000 in debt........
post #86 of 108
Quote:
Originally Posted by asianyoushi View Post
17 credit cards =way more the 10,000 in debt........
17! wow.

How do you even sign up for that many?

I would hope you can transfer the lower balances onto one and cut up the cards not carrying balances (unless they offer great balance transfer rates) so you can have half as many cards, and then half again, and so on, until you only have 2 or 3 cards total.

You don't want to get rid of all of the cards, because then you won't have positive credit.

Try to keep the cards that are generic (not department store cards) such as Visa and Mastercard, those that are accounts that have been opened the longest, and have the lowest APR or lowest interested, longest time period balance transfer offers.
post #87 of 108
If you'd have asked a month ago, it would have been 0, but somehow $1100 got on it

This includes airline tickets for Jan, where I got a $49 each way fare.
post #88 of 108
We use credit cards like cash. We put everything on it and then pay off the entire amount each month. So at any given point in time there may be a very large amount of money on the card, but its just a matter of days until it is paid. This system helps us with budgeting because almost all our expenses are detailed on the card statement.
post #89 of 108
I made the mistake of attempting to pay off medical debt with a credit card. Boo. Learned my lesson.
post #90 of 108

so confusing ...

[QUOTE=
You don't want to get rid of all of the cards, because then you won't have positive credit.

[/QUOTE]

What about the experts who say that you shouldn't have "too much" available credit, and that this can negatively affect your credit score? Apparently you are considered high risk if you have large "potential" for consumer debt.
We cut up our "spare in-case" cards and have one (with zero balance) and a Line of Credit as another back up. Our credit score went up shortly after doing this. All very confusing.
Dave Ramsey says no credit card, Suze Orman says have two with no balance.
Meh.
post #91 of 108
Quote:
Originally Posted by starling&diesel View Post
What about the experts who say that you shouldn't have "too much" available credit, and that this can negatively affect your credit score? Apparently you are considered high risk if you have large "potential" for consumer debt.

Dave Ramsey says no credit card, Suze Orman says have two with no balance.
That is true, too.

Having 2 or 3 credit cards with a reasonable amount of credit available is best.

At least it's worked for my credit!

I lowered a few that were increased back down to what I thought were reasonable based upon our household income.

I canceled a card that had a zero balance just a couple months ago because they never have decent low interest balance transfer offers... they're best offer is always 6.99% for 6 months and IMO, that is a lousy offer.

So now I have only 3 credit cards, instead of 4, and one of them has a zero balance, so I have a balance on only two cards.
One is from buying my mobile home, the other is from paying off husband's debt collectors for debts he incurred before I even knew him.
post #92 of 108
I have 0! But only because we got a line of credit to pay them off with...
less interest, but still have the debt
post #93 of 108
I said 10k and over but it's really more than anyone would like to fathom... Between deployments, moving every two years or so and, unfortunately, trying to live above our means, we've gotten into a huge hole. But, we have a plan, we're doing better, and we did all of our Christmas shopping without a credit card! May sound little, but it's a huge deal in this family! I think we're finally learning to delay our gratification!
post #94 of 108
I voted zero, although actually we have a balance right now, but that will be paid off when we get the rest of our settlement from our house fire.

Our mortgage is our only debt. We own 2 vehicles. I paid off my student loan debt before I quit my job to sah before my first was born. Our mortgage is equal to about 1 weeks worth of dh's take home pay after a 12% deduction sent straight to 401k, insurance and etc.
post #95 of 108
Quote:
Originally Posted by ~Purity♥Lake~ View Post
17! wow.

How do you even sign up for that many?
.

17 split between hubby and me- i have a 4 store oneand 4 visa/master card those i got recently to get groceries with since h only gets paid once a month.. hubby had the 9- 4are store line and 5 regular ones...

we also got a consolidation loan in there too since we used it to pay off other credit cards befor we moved but ended up charging on the paid off cards cuz the job we moved for said one thing and did another and we were living off 6 hours of work a week. instead of the promised 40.... not idea for a family of three.

lesson learn. now we just hope for lots of overtime and me to sell things.
post #96 of 108
We had $0 for years and years and years...actually, for 13 years of marriage we had no credit card debt. But we moved last year, and have about $5k of moving-related debt on a credit card We are planning to pay that off when we sell our house--and thinking positively that will be soon! :

We also owe $5 on a home-equity loan for ds's birth. He is totally worth it, though . Luckily, our mortgage is low.

After the house sells (, and the car is paid off this summer, it will all be :
post #97 of 108
Well, 9,000 in cc debt (we only have one card), but also 8000 on a line of credit. Grr...I am so stinkin mad at myself : We are in the process of talking to the bank about consolidating these two debts plus the 18 mo of payments on our truck, and paying it off by an automatic monthly withdrawal over 5 yrs.

We are also getting a newer lower interest card, and actually putting it in the safety deposit box in the bank, so that it is not in the house or our wallets.
post #98 of 108
We don't have any credit card debt. But I'm sure that's only b/c we never could get cards! :
post #99 of 108
About $12,000. $8,000 of it was because of someone ripping my DH off in business though (and hopefully we'll get rid of it soon - we've been paying it off slowly but surely for the past 8 months). We thought about taking the person to court, but we couldn't be bothered with the hassle. We can recoup most of the loss in the new year when he sells the equipment, so it's not too bad.
post #100 of 108
hmm. i have about 1,500 on credit cards, about 2,000 in school loans, another4,000 on my car.... and my husband has about 4,000 on credit cards..
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