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

[PhaZe]

Like the subtopic says, my pops says he hasn't paid interest since 1990, and I believe him since he is constantly monitoring his credit score and paying things off ASAP.

I ruffled his feathers a littl bit because I was being honest when he asked me if I paid off my discover bill in full, and I told him I left a couple of hundred bucks on it and I was charged a few dollars in interest.

I am currently a college student and I'm doing the best I can to pay off the remaining balance, but I was wondering if other people were as consistent as my dad says he is.

Jonathan

 

[Killerme33]

I don't see why a person could never accumulate interest on their CC throughout their entire life.

 

[enwar3]

My dad's never paid interest on anything--he always pays up front. Don't ask me why... it's just a thing he likes to do?

 

[Mo0o]

I've only had a CC since 2003 but no interest paid since then, always in full

 

[woodie1]

I pay my CC bills in full every month. Always have. Bet you'll find lots more here who do too. Got my 1st card in 197X.

 

[GagHalfrunt]

I've never paid a penny on CC interest in my life. Credit cards are for convenience, not for carrying debt. If you're not paying them off every month you're just pissing away your money.

 

[KillerCharlie]

I've also never had any CC debt - credit cards are the worst debt.

 

[Slew Foot]

Never paid a nickel in CC interest. Those who do, are suckers.

 

[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

 

[PhaZe]

You guys demonstrate good CC discipline. Hopefully I'll be able to do the same.

 

[sniperruff]

Originally posted by: Slew Foot
Never paid a nickel in CC interest. Those who do, are suckers.

 

[DaWhim]

I beat your dad. CC loses money on me. I have taken out like 15k interest free on 12 months 0% apr.

 

[newb111]

Never.

 

[mb]

Originally posted by: Slew Foot
Never paid a nickel in CC interest. Those who do, are suckers.

Yeah but without them would we have points/rewards/cash back?

I've also never paid interest.. going on 9 years now.

 

[xeemzor]

Credit card companies pay *me* to use their cards. I'm up $2k and counting on them.

 

[maziwanka]

i've never missed a payment. knock on wood.

 

[TXHokie]

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

 

[Lonyo]

Never paid interest since I got my CC which was ~2.75 years ago.

 

[ponyo]

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

 

[IEC]

I've made about $300 off of CCs...

 

[Tweak155]

Originally posted by: DaWhim
I beat your dad. CC loses money on me. I have taken out like 15k interest free on 12 months 0% apr.

How are they losing money if you are paying them back? They just aren't making any.

I've done the same since my first card in 02? I ride out the 0% then pay it off before the 0% is up. Never paid interest on a CC.

 

[goog40]

Citi must hate me. No interest paid, plus 5% cashback on business purchases FTW

 

[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.

 

[Dirigible]

I've had a CC since 1990. I had a balance of roughly $3k on which I paid interest during the last two months of 1999. That was the only time I've paid interest.

Why I paid interest: I was broke but went on a three week cycling tour of France and Switzerland anyway. I had a known lump sum payment arriving in December of '99 so wasn't worried about paying the card off, and just figured the interest in to my vacation cost. Spending $$ without actually having it is something I've never done since (house aside) but it was soooo worth it in that case. Second best vacation of my life.

 

[ponyo]

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?