Poll:How much credit card debt do you have? - Page 3 - Mothering Forums

View Poll Results: How much credit card debt do you have?
0 194 42.92%
Under 3,000 57 12.61%
Between 3,000 and 6,000 64 14.16%
Between 6,000 and 10,000 39 8.63%
10,000 and above 75 16.59%
More than you could ever fathom... 23 5.09%
Voters: 452. You may not vote on this poll

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#61 of 108 Old 10-11-2007, 11:41 AM
 
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$0. We hate credit cards. Do not own one. We've paid for everything with cash including new cars and everything. The downfall, we don't have credit to show for it which can suck too.

We've talked about getting one but keep on reminding ourselves how much we hate credit cards.
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#62 of 108 Old 10-11-2007, 11:50 AM
 
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Our credit card debt is zero.

We have no car loans. My DH's '03 Jeep was bought Memorial Day of '06, half down, and the other half paid off by Christmas that year. My car, when we get me a "new" one, will likely be done the same way (although my car will be cheaper, I suspect - DH has a weakness for Jeeps).

No student loans. DH didn't go to college, but has the GI Bill if he wants to go, and while he's in the army, they pay for college as well. I had scholarships, worked two jobs over the summers, very part-time during the school-year, and my mom helped out as well.

We don't have a mortgage...DH in the army means we move ever 2-3 years. We probably won't buy a house for another 12-15 years, but are saving up our down payment and as much extra as we can in the meantime. We've got just about 25,000 in our "house fund".

I have an almost pathological fear of debt, probably because I know a few people who got into quite a bit of trouble because of debt.
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#63 of 108 Old 10-11-2007, 12:54 PM
 
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Another with the 0. We do use the credit cards but all are paid off before due dates.
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#64 of 108 Old 10-11-2007, 12:58 PM
 
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Quote:
Originally Posted by melissel View Post
Yooper, how do you put your mortgage on your CC? I'd love to get points for that too!
I just called our mortgage company and asked them to set it up. They had sent me a form for automatic withdrawal from my back account, but it said nothing about CCs, so I called. Same with our car loan. It was pretty easy. That was 2 years ago.....
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#65 of 108 Old 10-11-2007, 01:00 PM
 
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Quote:
Originally Posted by popplers View Post
$0

And our car is paid off. The only thing we owe is a mortgage and then things like food, gas, utilities.



Unless we have a medical emergency, like cancer, etc., I dont ever see debt in our future.
Same here. Except when we do home repairs, we put them on the card. When they are large repairs, like a new roof, we have refinanced and paid credit cards off. That way, we get the points on our card but it is paid off. We only do that if we have a ton of equity and then we only refinance if rates are really, really good and we don't take a lot out. Keeps us solvent but we improve the house.
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#66 of 108 Old 10-11-2007, 01:12 PM
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Originally Posted by Abi's Mom View Post
I didn't know credit card usage is some sort of belief.

I can see thinking it's not the way you want to go, or thinking it's unnecessary, or thinking it's not a good idea, but not believed in? hmmm
I don't know if this applies to the poster or not, but not paying interest is part of Islam. Credit cards are okay as long as there's no interest paid... so in that case, anyway, not incurring credit card debt would be part of religious beliefs.

I pay off my credit cards monthly and put everything I can on them, which means I pocket about $150 a year through cash back programs, and since I pay online I don't even have to buy stamps. So, no credit card debt. I have 15K or so in subsidized student loans right now. I'm in grad school, so the government picks up the interest, and I'm hoping to be able to pay a good bit of them off as soon as the government stops covering the interest (I have about 7K in savings right now as well, and while some of that will go towards school expenses and living expenses for the rest of the semester, most won't).

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#67 of 108 Old 10-11-2007, 01:25 PM
 
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We do use our cards quite a bit, but pay them off every month, so I voted 0.
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#68 of 108 Old 10-11-2007, 01:29 PM
 
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We carry a $0 balance month to month on our credit cards. DH and I each have one. I actually just paid my grad school tuition in mine, so it currently has a large balance, but it will be paid off at the end of the month (I like getting the airline miles).

Regarding the second question, I have a student loan, DH has a car payment and we have our mortgage.

I'm going to have to see about putting our mortgage on one of our CCs....
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#69 of 108 Old 10-11-2007, 01:32 PM
 
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None, we only use the bank cards.

Unassisted birthing, atheist, poly, bi WOHM to 4 wonderful, smart homeschooling kids Wes (14) Seth (7) Pandora Moonlilly (2) and Nevermore Stargazer (11/2012)  Married to awesome SAH DH.

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#70 of 108 Old 10-11-2007, 02:00 PM
 
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Our cc debt is around 6k, after the holidays we are really going to try and hit that and our auto loan..I am sick of debt..then we have my student loan that I won't even mention the amount :
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#71 of 108 Old 10-11-2007, 02:12 PM
 
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Quote:
Originally Posted by mesecina View Post
We do use our cards quite a bit, but pay them off every month, so I voted 0.

Same here

The only time we've carried a balance is when DH's company is slow paying him back for travel expenses :
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#72 of 108 Old 10-11-2007, 02:17 PM
 
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We have $0 credit card debt, $0 car debt.

I have about $50,000 in student loans, tho'. I will start paying on those in about four months, when I start teaching. I am giving myself 4 years- putting everything I make after work expenses on them. I can do it! I can, I can!

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#73 of 108 Old 10-11-2007, 03:16 PM
 
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Quote:
Originally Posted by kerilynn View Post
When I was 18 I opened a $2000 card, a $1000 card, and a $500 card
Of course I had no job, and racked up a lot of interest and late penalties. I voted $3,000-$6,000.
I don't think I had any credit cards when I was 18, or even 20.

But that was a really long time ago.

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#74 of 108 Old 10-11-2007, 03:20 PM
 
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Quote:
Originally Posted by Dar View Post
I don't know if this applies to the poster or not, but not paying interest is part of Islam. Credit cards are okay as long as there's no interest paid... so in that case, anyway, not incurring credit card debt would be part of religious beliefs.

Dar
Thank you for letting me know.

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#75 of 108 Old 10-11-2007, 04:17 PM
 
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$480 on a credit card
$3300 Retail Services account

I can't wait to get it all paid off. I'm never borrowing money again.

Midwife (CPM, LDM) and homeschooling mama to:
13yo ds   10yo dd  8yo ds and 6yo ds and 1yo ds  
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#76 of 108 Old 10-11-2007, 10:32 PM
 
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$0

I believe that credit cards are inherently immoral and refuse to use them.

Now, Student Loans, on the other hand... ugh.

Spending all of my money and time on this wild, wild life.
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#77 of 108 Old 12-10-2007, 06:22 PM
 
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We owe nothing!!!!!

We do have 2 car loans and a morguage.

My van will be paid off in the morning. and dh is selling his truck and getting a car. so I guess it will be a wash, then all we will have is the house.

We don't order online, and don't have any student loans.

We do have 1 cc just in case, say the water heater goes or something. I did just last week buy a washer / dryer, as the washer went. Paid with cash from savings. I kept the dryer and im trying to pick up a second hand washer. with 7 people in the house I do lots of wash.

Doing what I can to make better choices every day!
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#78 of 108 Old 12-10-2007, 06:33 PM
 
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I voted 10+ (it's at 12 currently, just paid off 1 today and put $1000 towards another!) We have a plan in place and its working though (Dave Ramsey LOL)

Last year we had none...this year sucked. LOL

Quote:
Did you know: most woman owned businessed are financed by personal credit cards.
That's here too.

I cut them up...I'm done with credit cards forever, even for my business.

Desiree

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#79 of 108 Old 12-10-2007, 10:01 PM
 
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It took a year or so, but now, zero (well, sometimes hubby uses one for work and immediately gets reimbursed, but still). If you'd asked last August, somewhere around $8-$10K, give or take. I forget. I just like that it's gone.

Now it's just the student loan albatross. :

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#80 of 108 Old 12-10-2007, 10:03 PM
 
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I voted $0

We have one credit card that we pay everything with. Groceries, bills, gas, online purchases etc. We pay the credit card bill in full every month. That way there is no interest paid.

We do have a home mortgage, but no other loans.

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#81 of 108 Old 12-10-2007, 10:27 PM
 
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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.
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#82 of 108 Old 12-18-2007, 03:23 PM
 
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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!

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#83 of 108 Old 12-18-2007, 03:41 PM
 
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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.

Happily parenting our snuggly wild child since 2007 and her little brother since 2011!

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#84 of 108 Old 12-18-2007, 04:23 PM
 
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We canceled and cut up a year ago. Debit cards and cash here.

Shane - Homeschooling mom to three boys (12, 1-, 8) and living the open life with my husband.

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#85 of 108 Old 12-18-2007, 07:04 PM
 
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17 credit cards =way more the 10,000 in debt........
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#86 of 108 Old 12-18-2007, 07:09 PM
 
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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.

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#87 of 108 Old 12-18-2007, 07:32 PM
 
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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.

Third generation WOHM. I work by choice.
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#88 of 108 Old 12-18-2007, 07:38 PM
 
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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.

Mom to Kira March 2009
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#89 of 108 Old 12-18-2007, 07:44 PM
 
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I made the mistake of attempting to pay off medical debt with a credit card. Boo. Learned my lesson.

Nursing bras should not double as birth control!
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#90 of 108 Old 12-18-2007, 07:56 PM
 
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[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.

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