How much credit card debt are you carrying?

[LynzM]

With the holidays around and people spending something like an average of $835 on Christmas presents (eek!), I'm just curious... no comments necessary, if you don't want to share, of course!

[Deja Q]

1. Mine is paid off...

I'm going to wait a few months then use ONE for dire emergencies ONLY.

[Kerrytravelers]

2. Our debt isn't from Holiday shopping. It's from a time of unemployment.

It's less than $4,000. It has taken us years to pay it off. Because we struggled for several months, we're at a 32% rate, which really sucks.

We're on the fast track to getting it paid off, now, finally, but it's been tough. Seems this "great economy" as just passed us by. :eyes:

[NoSheep]

3. Mine is from unemployment as well. X 2.

[LynzM]

13. Ours started from that, as well

We hit a period where Briarius was w/out a job and then I got laid off, and then we moved for my new job... seems like we just keep moving that debt around, though we should be able to pay off a big chunk in January sometime with my tuition reimbursement. *sigh*

[Broken_Hero]

4. between 2-3 thousand..

but its all goining bye bye, at the end of January....:D

[Jimbo S]

5. Paid off fully each month

We use it when purchasing groceries or gas and whatnot solely 'cause it's easier to keep track of purchases.

[Kerrytravelers]

8. This is exactly how we were until the unemployment.

We used it for groceries and gas, basically. We have a chart on the kitchen door that we record every purchase (it's an Excel spreadsheet that I made, printed and taped to the door. At the end of each month, we take it off the door and file it away.)

We always always always paid it off at the end of each month- and never late. When we started struggling, we were sickened to watch how quickly the percentage rate climbed. What killed us though was the fact that we paid other bills late before we paid the credit card late, yet, our credit care rate started going up. I remember that Kerry was saying that he wanted to put a stop to credit card companies using late electric bills or phone bills to justify raising their percentage rates. This would have made a big difference for us. Our early percentage rate rise was due to using our phone bills and electric bills against us. Damn them.

[Jimbo S]

17. My best wishes to you.

Between my wife and myself, we have one joint card, I have one personal card, and she is down to two or three. We use the joint card but keep the others in case one of us ends up out of work - use the credit limit to out advantage. We'll have the mortgage paid off in four to six years, then we won't need the credit limits as an emergency backup.

Wisconsin has a law that has a cap on percentage charged (about 18 I think).

[Kerrytravelers]

52. We both just improved our jobs and income.

Ironically, within three weeks, I got a new full-time and a new part-time, and my husband just got a new full-time. Three new jobs in three weeks! This is just what we needed.

We have a financial plan that will see us paying off the end of the credit card by December of 2007- one year away.

[cobalt1999]

22. Same here. Pay it off at the end of every month.

Learned the hard way a long time ago not to let it rollover.

I try to use the Amex card as much as possible. Where I can't I make sure the VISA & Mastercard are fully paid when the bill arrives.

If I can't afford to pay for it completely, then I can't afford whatever it was I was going to buy. I'll either save for it, or do without. That goes for boats and cars too. I'll drive a car for years and year while saving for a new one vs. having a car payment.

The cards are great for transferring data into Quicken to track spending and budgets, so I prefer them to cash.

[Generic Brad]

33. Me too

But it took decades to get financially secure enough to get to that. Prior to that I just did without.

[Kerrytravelers]

53. I bought my current car the same way. Save save save, the write a check and no car payment.

[CTyankee]

63. I do the same as you. Haven't paid interest on credit cards for 20 years

If I can't afford it, I don't charge it.

I do a manual budget each year and simply list out my fixed and anticipated expenses on one side and my fixed income on the other side. If the income isn't larger than the expenses then I have to look for places to save. So I am constantly looking to reduce costs. It's a good way of looking at things.

One thing I noticed: people who seem to have more money often drive old cars that have been paid off a long time ago. They get new ones when repairs on the old one exceed its value in one year. I keep my 1999 Altima in good shape with a reliable mechanic.

My advice is to LOOK AT EVERY COST YOU HAVE and challenge yourself to see if you can do better. Carve out some time to research things like car insurance, cell phone charges, mortgage rates, gas station prices. And negotiate everything that you possibly can.

[ProfessorGAC]

55. Same Here. For 20+ Years

The Professor

[mike_c]

6. zip zero nada....

No general credit cards at all. I have a couple of gas cards and a Sears card that I use occasionally, then pay off within 30 days. I do not carry any consumer debt at all.

[reyd reid reed]

7. None.

I got rid of them years ago. It's not that hard to live without them, although every once in a while it would be nice.

Like now. I'd love to be able to pay for the trombone today so that it could be on its way, rather than waiting until I have the rest of the cash in hand on Wednesday morning...

But, in the end, it's better this way. I'm not as tempted to spend even more.

[Zavulon]

9. Not a cent.

My credit card is for emergencies only. I don't understand why anyone with a choice would willingly incur credit card debt.

[Kerrytravelers]

14. People don't seem to understand that you don't have to have the best of everything.

We're seen that with some of our friends. They have to have the biggest tv, the newest stereo equipment, and all this new guitar equipment for the husband who can barely play it at all. And, their four year old son has a full-on entertainment center in his bedroom... tv, VCR, DVD, multiple gaming systems and literally hundreds of movies. The child's books? Located on the top shelf of his closet, where he can't see nor reach them. Quite a set of priorities, and it shows with the kid.

Mom and Dad are so into "things" they could care less how much debt they get into. If they want it, they deserve it. :eyes: I have no sympathy for these people at all. Am I judgmental, in this regard, yes.

[Zavulon]

15. Count me in the same camp.

I know a lot of people who spend more at Best Buy each week than they do at a grocery store, and then they bitch about "being forced to live paycheck to paycheck." One of these people has every available season set for over 40 TV shows, to include X-Files (he bought them all back when they were running a hundred bucks per season).

If this guy loses his job, I don't want the government helping him at all. Let's save that for people who truly have hard luck.

[BOSSHOG]

10. $2,400 for a new heater this month

But got it with 3.9%.

[BarenakedLady]

11. For the first time in 10 years

we are carrying credit card debt. This year has totally sucked. We've never been strapped for cash before. It's frightening living paycheck to paycheck. Especially this time of year. *sigh*

[Writer]

12. Our credit card debt is like wack-a-mole...

We tend to charge up our card to get the reward points then pay it off in large chunks of stock sales... it's actually a bit ridiculous. We've been as high at $16K this year, but will likely be down to $4K by March. We've had it completely paid off on a few occasions over the last few years.

We can sell stock only twice a year, so if I can find a job, maybe at Mickey D's or something :P we wouldn't play this game with it. Oh - and Mr. Writer has to find a new job! :hide:

[ganeshji]

16. None.

I'm pretty responsible with finances otherwise, but having a credit card is dangerous territory for me. I just can't (won't) manage it effectively.

[Lyric]

18. None. The only cards we use are the prepaid, reloadable kind.

Handy for teh intarweb, but no risk of spending more than we actually have.

[Rosemary2205]

19. $82,000 plus

A lot of that was medical debt, not credit card debt, but it all reads the same. I got hit by a drunk 4 years ago and my husband and I both were out of work for 2 years. Our savings ran out and he went back to work part time at the end of the 2nd year just about the time his SSDI showed up. I am permanantly in a wheelchair but was able to return to work about 7 months ago. I was out over 4 years. The drunk who ran over us was uninsured and pretty much penniless. We tried like hell to avoid bankruptcy but filed 4 months ago. One of the medical creditors was fighting for the right to take our house away as payment of the debt and we had no choice left.

In about 3 years I'll be able to breath again, I hope. If we hadn't spent our lifetimes living well below our means and saving all we could we'd have never made it this far.

[LynzM]

23. Rosemary, I'm so sorry to hear that

Nobody should have to go through that. That's so damn, fucking unfair. It makes me so angry for you.

:hug: :hug: :hug:

[Starbucks Anarchist]

24. I'm so sorry, Rosemary.

:hug:

[TimeChaser]

20. As a college student, the bill arrives at home, not the dorm

So my parents usually pay it off :blush: I don't use it much though, I prefer to use cash

[youthere]

21. Not one cent of credit card debt...

in fact, the only debt mryouthere and I have is our mortgage that will be paid off in 5 more years, and a small amount left on my student loan that will be paid off in April.
We learned our lesson the hard way about credit cards. We got our first one after only being married a short while, and unfortunately adopted the attitude that we didn't need money because we had credit. It took the better part of 10 years to get out of the hole we dug for ourselves and came out of it much wiser.
We now have one credit card for emergencies..in fact the last time I charged on it was about two years ago...I went to Des Moines for a conference and left my cash in the bank envelope on the kitchen counter.

[bigwillq]

25. About $600 (nt)

[Karenca]

26. About 30 thousand

approx. Maybe a bit less.

More if I add in Student Loans.

[Blue_Tires]

27. about 9 grand

indentured servitude for the information age

[Omphaloskepsis]

28. About $20K, I have no intention of ever paying it..

They don't even bother calling anymore.. Fuck it.

[jrandom421]

41. Reminds me of an old girlfriend

who was a devoted Communist who was intent on totally destroying the capitalist system by dying with millions in debt. She came close to both when she got cancer, on top of over $1.3 million in various debts.

[graywarrior]

29. If I can't pay cash for it, I don't buy it.

Screw credit cards.

[slackmaster]

30. Had some balance, paid it off and bought a car with a HELOC

Home Equity Line Of Credit - Very handy if you can get one.

I pay the CC off every month so those bastages can't make any interest off me.

[BikeWriter]

31. I only have a cash card. I cut up the credit cards years ago.

[qnr]

32. Haven't used a credit card since the mid-80's n/t

[Nicole]

34. Zero

I got rid of the credit card as soon as the ATM card changed to a debit card.

I have no mortgage or car payment either. I love being debt free. It took a long time to get here but well worth the sacrifices made to accomplish it.

[Jimbo S]

35. If you don't have a credit card, how do you...

purchase plane tickets or secure a rental car?

Not being judgemental, just curious.

[GenDem]

36. You can use a visa debit for any of that.

and that's what I do. If I don't have the money....I go without.

[Nicole]

38. I use my Mastercard debit card

I use it for concert tickets, hotel reservations, rental cars & plane tickets. It's never been refused at any of those places.

[LSK]

48. I dont fly and rented a car once in my life

[Jimbo S]

49. But I do, so it doesn't really answer the question. :)

[LSK]

50. just saying some people dont do that sort of thing

So they dont have that problem - yet. ;)

[REP]

37. None; Pay Them In Full Each Month

[Initech]

39. Not much.

The two credit cards I do have, one is exclusively used for education-related purchases and the other I rarely use. And the purchases I do make I use on my debit / ATM card.

[jrandom421]

40. Not only no credit card debt

but no debt at all. Paid it all off the hard way, and a new job with a near 6 figure salary helped a great deal. Do most transactions by cash these days.

[huskerlaw]

42. About $6000

All acquired between graduation and employment. I have been chipping away at it, and recently came up with a plan to pay it all off within a few months.

But then there's the student loans. I just send in the monthly payment and refuse to think about that particular dollar amount further.

[seemunkee]

43. About 4000

Down from 15K at the begining of the year. Will hopefully get it paid off by mid-2007

[MorningGlow]

44. Ugh

$30,000 not counting a car loan. I am disgusted. A chunk of it was from DH's business going under years ago, plus more incurred a couple of years ago when DH's hours were cut at one job while my job was put on the chopping block, so I shifted to one with a 25% lower salary. We've been trying to get out from under ever since, but we just can't seem to swing it.

And no, we don't buy lots of toys or go on vacations or...much of anything. We're just scrambling to keep up with the monthly payments.

Bleah.

[bikebloke]

45. None

I once had a girlfriend who wanted me to get a credit card because she thought it would make me more amerikan. I always saved my money to travel and hopefully settle down in another country. Plus living and travelling without income (or very little of it), you learn frugality. The emigration dream looks dead, but I still believe in socking money away.

[Courtesy Flush]

46. We haven't had credit card debt in years

We use our plastic like cash. I buy anything and everything on my credit card, but only what we can afford, and then pay the whole amount every month. No debt. No interest.

We've doene it that way for years. In fact, we have no debt at all. We buy what we can afford.

[LSK]

47. none, I pay it off every month

I usually have less than $100 on it at any given time. It got some use before the election with donating to Dems.

[Yavin4]

51. I Am Completely Debt Free

I went debt free in June. The only blemish on my credit report is from a credit card that I never owned. I disputed the debt within 30 days, and I heard nothing. Sent a follow up 30 days later and heard nothing. Started getting the phone calls, and I sent a cease and desist letter. Finally, I got a summons from them in April. I hired an attorney and filed an answer. Since then, nothing.

Other than that, I am totally debt free.

[DixieBlue]

54. Too much.

Between several moves in just a few years, a baby and a husband who was unemployed we just couldn't make it without a little help. We're paying it off but it is an awful thing to have hanging over your head.

I still owe about 10-grand in student loans but I don't really count that as "debt". That's more an investment as I see it. Even if I'm paying on the other side of things. :)

[noonwitch]

56. About $700

I pay every month, more than the minimum and pay them all off completely when I get my tax refund.

I would have about $300 in debt if I hadn't had to buy a washing machine a couple of months ago.

[Mr. McD]

57. We use credit cards but pay them off monthly

On rare occasion larger purchases we may extend for several month's maximum. We do the Christmas club thing so we always have enough cash for all Christmas shopping.

[Dastard Stepchild]

58. Ours is very high at the moment....

Quadruple whammy of unexpected school costs, unexpected (and very costly) car repairs, an unexpected (and somewhat costly) illness in one of our cats and a recent move. We went from reasonable to UTTERLY RIDICULOUS in the short span of 2 months. I know it happens to many people, but I was simply floored at how quickly we could become thousands of dollars in debt.

[flamingyouth]

59. I have a credit card but pay it off each month.

[deepthought42]

60. I don't need one right now

I still live at home, don't have alot of bills to pay (thankfully), and I have my checkcard, that's really all I need at this point in my life.

[One_Life_To_Give]

61. Deadbeat, thats what they call me.

How the CC companies describe us people that pays off our balances every month.

[hfojvt]

62. that's kind of a trick question

for one, because I currently owe Discover card some $300 that I need to pay in the next couple of days.

Second, because I owe another card $2400 which is at 1.9% interest until March, and I owe another card $3800 which is at 0% until July. Once those offers are over the balances will be paid in February and June. I only acquired that debt because it cost less than other debt.