Poll:How much credit card debt do you have? - Page 4 - 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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#91 of 108 Old 12-18-2007, 08:07 PM
 
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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.

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#92 of 108 Old 12-18-2007, 08:40 PM
 
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I have 0! But only because we got a line of credit to pay them off with...
less interest, but still have the debt

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#93 of 108 Old 12-18-2007, 08:44 PM
 
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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!
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#94 of 108 Old 12-18-2007, 09:12 PM
 
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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.

Happily Married to my : 11 yrs- Mama to wild-eyed monkey boy 7-04, fiery little girl 4-07, and the happy smiley baby that sleeps 11-09!
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#95 of 108 Old 12-18-2007, 10:47 PM
 
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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.
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#96 of 108 Old 12-18-2007, 11:44 PM
 
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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 :
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#97 of 108 Old 12-19-2007, 12:24 AM
 
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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.

Tina, RN, wife-y to J, mom to dd (10) and ds (7)
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#98 of 108 Old 12-19-2007, 12:48 AM
 
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We don't have any credit card debt. But I'm sure that's only b/c we never could get cards! :
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#99 of 108 Old 12-19-2007, 12:55 AM
 
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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.
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#100 of 108 Old 12-19-2007, 11:34 AM
 
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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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#101 of 108 Old 12-19-2007, 12:33 PM
 
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$0!

And not only that, I have NO credit cards at ALL. Zip! Zilch! Nada!

Paid the last one off in August 2006 and promptly closed it out.

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#102 of 108 Old 12-19-2007, 12:40 PM
 
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Up until this summer I had none at all. But now we have about $2000. We made a deliberate decision to go into a small amount of consumer debt so that DH could take (unpaid) family leave for two months and stay home this summer to help me with the twins and DD1. I was overwhelmed, and to have him stay home seemed better all-around than hiring help, since DH was also longing to spend more time with the kids while they're still babies. We had enough saved for most of our expenses during that time, but we needed to accumulate a bit of debt. I am on track to have it paid off by March, so I'm not too worried about it. In fact, I'm considering doing it again next summer. I have the rest of my life to get ahead financially, but my kids will only be babies for a very short time.

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#103 of 108 Old 12-28-2007, 09:52 PM
 
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today $0....within the next few months - up to $12,000! I hope to transfer the balance to 0% interest cards until we pay it all off.

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#104 of 108 Old 01-04-2008, 01:48 AM
 
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I owe 40K, took it out at .99% bought all TD Bank stocks, made $2500 in a week. Still going strong, but I know this company and am a sophisticated investor....

oh..and I write off the .99% in my taxes (that's in Canada, prob. the same in the states....)

In my tax bracket it ends up being free money. Any profits go back to the credit card to pay it off.

Not all debt is bad. If it's used as an investment or to gain equity, there's nothing to be afraid of. A smart person never pays off their mortgage. They keep borrowing off it again and again in order to invest. Write off all that borrowed interest in your taxes. Work it out on paper- very smart. But you need to know how to invest and you can't be faint of heart.
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#105 of 108 Old 01-04-2008, 09:42 AM
 
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None. We are more responsible without them. It's been 7 years. MIL said we'd need them since we have 4 children. She was wrong! LOL!

Sincerely,
Debra
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#106 of 108 Old 01-04-2008, 09:50 AM
 
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I voted between $6,000-10,000. Although I think it might be lower than that. We just sold our house, and we had a LOT of debt racked up with that - we had a $35k home improvement loan alone! Luckily, we sold the house for enough to pay off all our debt and put us well into the black. We are paying things off slowly and surely, making sure we don't shortchange ourselves somewhere else.

But I count that in just CC debt - we have a car payment, 2 student loans, and a timeshare that we also pay every month on top of our CC debt.

ETA: We will always carry at least $3k in CC debt - DH travels for work, and is responsible for making all of his own travel arrangements (flight, hotel, rental car, meals). He get reimbursed after submitting his expense reports, but since he constantly travels, we constantly have that debt.

Jen, SAHM to Jamie and Alexandra and with #3 in May
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#107 of 108 Old 01-04-2008, 03:19 PM
 
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None. We have no credit cards. Everything is paid for with our debit card - cash. Had some cc debt in my first marriage & want no part of that ever again. Although it does freak my mother out that I "don't even have one for emergencies!"

"While Eeyore frets ...and Piglet hesitates...and Rabbit calculates...and Owl pontificates...Pooh just is."
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#108 of 108 Old 01-04-2008, 03:30 PM
 
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We have ZERO cc debt and our cars are paid off. We did however refinance our home last year to pay off the debt. Best financial decision we ever made

Alicia DH Mike DS Gage Lola & Zeus Fishy Dishy, Charkey and Shark
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