POLL: Are you in Credit Card debt?

[halik]

so many people seem to be in cc debt.... are you?

I really dont see how does that happen though. I', 20 and I have 3 creditcards (mc, mc and amex) and i have yet to miss a payment. How do people get cc debt really? I mean I would never consder speding more money that i have, because creditcard is NOT A LOAN. Youll get raped by apr if you miss payments so why and how do people do it ???

 

[jjones]

No

 

[dabuddha]

Nope not me. I paid off all of my CCs last year. Freedom!

 

[new2AMD]

Why and how?

Necessity and convienence

 

[FoBoT]

we paid ours off when we bought our house

my wife has one card with a $500 limit, right now it has a ~$20 credit because i sent too much $ to it last statement

i have a corporate CC that i only use for business travel, i have no other CC right now

 

[Ameesh]

not currently but i am not afraid to use those awesome balance transfer rates to make the credit card company lend me money at 0% or .9%

 

[Pliablemoose]

I have a debit card & an American Express, smartest thing I've done in a long time.

Now to get the house paid off

 

[MrScott81]

The thing that gets people is the 0% for 1 year....they put stuff on there thinking "oh, no interest!", and then after that year rolls around, they end up having so much on there that they can't pay it off, and the rapage begins (since usually after the introductory rate it goes to some god awful percentage like 21.9%).

 

[MomAndSkoorbaby]

Nope.

 

[Nanotech]

Originally posted by: halik
so many people seem to be in cc debt.... are you?

I really dont see how does that happen though. I', 20 and I have 3 creditcards (mc, mc and amex) and i have yet to miss a payment. How do people get cc debt really? I mean I would never consder speding more money that i have, because creditcard is NOT A LOAN. Youll get raped by apr if you miss payments so why and how do people do it ???

It sounds as though you have CC debt and don't even know it. You do realize that if you have a CC and simply make a minimum payment but still have a balance than you have CC debt, right?

 

[BlueWeasel]

Originally posted by: Nanotech

Originally posted by: halik
so many people seem to be in cc debt.... are you?

I really dont see how does that happen though. I', 20 and I have 3 creditcards (mc, mc and amex) and i have yet to miss a payment. How do people get cc debt really? I mean I would never consder speding more money that i have, because creditcard is NOT A LOAN. Youll get raped by apr if you miss payments so why and how do people do it ???

It sounds as though you have CC debt and don't even know it. You do realize that if you have a CC and simply make a minimum payment but still have a balance than you have CC debt, right?

Yeah, are you paying them in full each month, or just making small payments each month?

 

[ojai00]

No. I pay my balance whenever I see one.

 

[monk3y]

Nope... I don't even own a CC. Don't plan to either.

 

[gistech1978]

for the first time ive had a CC, 7 years, im going to carry a balance this month.
but i will have it paid off by July rolls around.
just had some big ticket expenses.

 

[StageLeft]

We use it for everything and generally don't carry a balance month to month. If you have CC debt, you're overspending. Nip that in the bud before it catches up to you and does you in the ass.

 

[FeathersMcGraw]

Originally posted by: InstincT
Nope... I don't even own a CC. Don't plan to either.

Not a recommended strategy unless you're independently wealthy or also never plan to own a home.

 

[brtspears2]

Yes, but I got it all worked out on a 0% CC now and making payments to pay it off before the end of the promo.

 

[Nohr]

Yes, but under $100. Just haven't made the payment yet.

 

[Mr N8]

Yes, but I will be free of it by October / November if all goes as planned. I have a nice e-fund built up, so I shouldn't have to resort to the CC for emergencies, either.

 

[apoppin]

Originally posted by: halik
so many people seem to be in cc debt.... are you?

I really dont see how does that happen though. I', 20 and I have 3 creditcards (mc, mc and amex) and i have yet to miss a payment. How do people get cc debt really? I mean I would never consder speding more money that i have, because creditcard is NOT A LOAN. Youll get raped by apr if you miss payments so why and how do people do it ???

Maybe you're just lucky . . . so far. . . . i hope you're not bragging 'cause your're (really) young.

I never ran up credit card debits UNTIL i took 6 months OFF WORK to care for a sick relative.

I ran up to 3K in debt . . . a year later, it's over half-paid off.

 

[GagHalfrunt]

Nope, credit cards are too dangerous if you get in the habit of actually using them as long-term loans. The more you charge the more credit you get and the further behind you can get. There are too many people out there that are spending every cent of their income on the debt-service alone without ever being able to pay down the principle. Credit cards are a matter of convenience, a way to be able to shop without carrying cash. I pay mine off every month and will never change that.

 

[apoppin]

Originally posted by: GagHalfrunt
Nope, credit cards are too dangerous if you get in the habit of actually using them as long-term loans. The more you charge the more credit you get and the further behind you can get. There are too many people out there that are spending every cent of their income on the debt-service alone without ever being able to pay down the principle. Credit cards are a matter of convenience, a way to be able to shop without carrying cash. I pay mine off every month and will never change that.

That's what out government is doing.

 

[Bowmaster]

No debt. Kicked that bad habit years ago...

 

[GagHalfrunt]

Originally posted by: apoppin

Originally posted by: GagHalfrunt
Nope, credit cards are too dangerous if you get in the habit of actually using them as long-term loans. The more you charge the more credit you get and the further behind you can get. There are too many people out there that are spending every cent of their income on the debt-service alone without ever being able to pay down the principle. Credit cards are a matter of convenience, a way to be able to shop without carrying cash. I pay mine off every month and will never change that.

That's what out government is doing.

Yeah, but they never intend to pay it back. Hell, if I could run up trillions in debt without having to repay the cash I'd be doing it too.

 

[djheater]

haha, you're 20.

I was debt free and credit sound at that age too.

The pregnancy, birth, and caretaking of two children helped to eliminate that condition. I will be debt free again ( a scant 9 years later) in about 4 months . Not to worry though, we'll be having another in November, and are enrolling the other two in an expensive private school {{sigh}}.