What's the longest you've gone without paying any interest on your cc's

[Brainonska511]

I've had a CC since July 2006, haven't paid a cent in interest and don't plan to either since both my cards are at about 16%.

 

[xeemzor]

Originally posted by: Naustica

Originally posted by: xeemzor

Originally posted by: Naustica
Only about 33% of Americans pay their credit cards in full. That means almost 7 out of 10 people pay some kind of interest.

Only the people who really don't know how to use a credit card are the ones who pay interest.

That's pretty naive view.

Another fun fact: Percentage of homeowners who own their home free and clear is around 30%. That's about the same as the percent of people who pay their CC in full each month. How many homeowners do you know who have no mortgage?

If you know you are going to be short on money, why would you ever put the debt on a credit card? It's much better to get a loan from a bank if you know you need some extra cash than to take it out on a CC because of the interest rates. If you have chronic cash shortages, then you need to reevaluate the current sustainability of you life style.

 

[microAmp]

Only once, it was cheaper to get the hit on interest than use a stamp.

 

[boomerang]

Originally posted by: mb
Yeah but without them would we have points/rewards/cash back?

Yes, most likely. The merchant takes a hit on every purchase that goes on the card. 3% sticks in my mind, but I think it depends on the volume they do and the card itself. I've heard AmEx hits merchants the hardest. The CC companies have got to be rolling in dough.

We use our CC's as much as the next person, maybe more. It's not unusual for us to have $3000 in charges in a month. We put EVERYTHING we can on the card. One bill that's automatically withdrawn from our bank account. Paid in full.

Sadly, we have driven up prices by the use of our cards. I doubt the merchant is going to take the hit on our purchases because it's a convenience to us.

 

[daniel1113]

I've never paid interest on a credit card balance. I pay in full each month as if I had a charge card.

I get paid by the CC companies for using their cards.

 

[HombrePequeno]

I pay mine off in full every month. There have been a couple times when I was a day late on the payment so I've been slapped with a few $35 late fees.

 

[Rike]

Originally posted by: TXHokie
Not only do I not pay interest the past 10+ years, I get $250-$300 cash back per year.

None since 1994, when I paid once and then hit the roof because I was so pissed at even a few dollars getting flushed. Since then I'm like many here and get $100s back each year.

 

[amdforever2]

Didn't you hear?

No one pays interest ever.

That's why the credit card industry is one of the most profitable enterprises in the country.

 

[amdforever2]

By the way, you all have huge penises.

CC companies take 3%.
Merchants raise prices 3%.
CC pays back between 1-2% on average.

You huge dicked folks rake in hundreds while the moron credit card companies pay you to use their card cause after all, you're awesome.

 

[Red]

Originally posted by: amdforever2
Didn't you hear?

No one pays interest ever.

That's why the credit card industry is one of the most profitable enterprises in the country.

Exactly... this thread reminds me of the ATOT salary threads where everyone in here says they make over $100k yet the average household income is less than $50k.

I'll answer honestly... my wife and I owe about $500 on a credit card right now. It will take another month or two to pay off.

There have been times we have owed several... SEVERAL thousand dollars but we have taken care of the debt.

 

[xeemzor]

Originally posted by: amdforever2
Didn't you hear?

No one pays interest ever.

That's why the credit card industry is one of the most profitable enterprises in the country.

I wonder how much of their income is from them charging merchants, rather than just interest.

 

[mh47g]

Originally posted by: amdforever2
By the way, you all have huge penises.

CC companies take 3%.
Merchants raise prices 3%.
CC pays back between 1-2% on average.

You huge dicked folks rake in hundreds while the moron credit card companies pay you to use their card cause after all, you're awesome.

Your logic fails because not everyone pays with a CC. Those who pay with a CC save money that people who don't pay with a CC miss out on.

Oh and, everyone pays the same price.

 

[Mojoed]

I wish I could say I've never paid interest like most of you guys.

I haven't paid a lot, as I normally try to pay my balances in full monthly.

 

[xeemzor]

Originally posted by: mh47g

Originally posted by: amdforever2
By the way, you all have huge penises.

CC companies take 3%.
Merchants raise prices 3%.
CC pays back between 1-2% on average.

You huge dicked folks rake in hundreds while the moron credit card companies pay you to use their card cause after all, you're awesome.

Your logic fails because not everyone pays with a CC. Those who pay with a CC save money that people who don't pay with a CC miss out on.

Oh and, everyone pays the same price.

Many merchants still raise their prices due to the fact that a great deal of their business is done via credit cards. I'm sure places like newegg, which have a high volume of credit card transactions, have higher prices due to surcharge on the cards. It may not be the full 3% all the time, but it's still there.

 

[Locut0s]

Only owned them for 3 1/2 years or so and don't have a lot of expenses but haven't paid a cent of interest yet and don't plan on ever doing do.

 

[ultimatebob]

I once accidentally did a $300 cash advance from my credit card instead of my bank card a few years ago, and ended up paying about $10.00 in interest charges before I realized what I did paid it off the following month. Wow... the interest rates on credit card cash withdrawals are insane!

Other than that, I've never left a balance on any of my cards since I got them over 10 years ago.

 

[TuxDave]

Got my first CC in 1998, never paid interest. Who would do that willingly?

 

[moshquerade]

forever... make that, since i've had a cc. i've never been late on a payment.

 

[necine]

I owe like 3K on my CCs... trying to pay them off.

 

[kranky]

Originally posted by: amdforever2
By the way, you all have huge penises.

CC companies take 3%.
Merchants raise prices 3%.
CC pays back between 1-2% on average.

You huge dicked folks rake in hundreds while the moron credit card companies pay you to use their card cause after all, you're awesome.

Well, if those merchants would give me a 2%-5% discount for cash, I'd use cash. Since they don't, I'll take the 2%-5% credit card rebate.

How many giant TV's, $2000 laptops, $1000 digicams, or $5000 vacations to Europe would be sold if people had to pay cash? Not too many, that's for sure. The merchants don't cry about paying that 3%.

 

[HardcoreRobot]

one time i paid the wrong amount and left a couple hundred dollars on it. other than that one mistake, have always paid off in full

 

[Cogman]

Originally posted by: MrDudeMan
I've never paid any interest on a credit card. I don't have a problem paying interest on some things though because going without the things you really want simply because you don't want to pay interest is no way to live in my opinion. I wanted my house sooner rather than later, so paying interest on it is no big deal. People get way too excited about this issue it seems but what the hell else are you doing with your money that paying a few % interest on something is going to kill you (not talking about credit cards however). I could have saved to pay for my car in full, but why? I wanted it now, not 2 years from now, and I save plenty of money each month so it isn't hurting anything. If the difference between paying interest or not will change everything for you, there are bigger financial problems to address like living out of your means. /soapbox

Yes, somethings I think are ok to go into debt for (House, car, Education) and none of those are paided for by credit card (I should really hope not). However, those are less wants and more necessities. What is stupid is when someone wants a new motercycle now and cant wait the 3 months to pay it up front.

Why shouldn't you go into debt? Because lots of little things add up. People with the "I want it now, not 2 years from now" attitude often find that life isn't static. Jobs are lost, and accidents happen.

"If the difference between paying interest or not will change everything for you, there are bigger financial problems to address like living out of your means."

I really don't see how the two equate. Going into debt is essentially living out of means, so why would avoiding debt equate to living out of your means?

I guess that I just don't really agree with the sentiment you are echoing here, which comes across to me as "Embrace debt, there isn't anything wrong with getting what you want now rather then waiting for it". Because I have seen quite a few people that live by that motto with little money and complaining about the rich man putting them down.

 

[nageov3t]

probably 5-6 years... I got my first credit card when I was 16 and I didn't start carrying a balance till I graduated college and had some real income (which I know probably doesn't make much sense, but my lifestyle expenses increased after graduation... had to buy nice clothes for work, furnish an apartment, etc)

 

[RichardE]

Sadly yes, 2 5k accounts owening still due to a screwed up Student loan..both will be taken care of though in...14 days

 

[GTaudiophile]

I pay off all of my bill(s) every month in full, ever since I got my first CC 9 years ago.