I'm not going to ask how much, but who has credit card debt?

[Writer]

[grannylib]

1. Cut 'em up years ago; haven't had a credit card in yonks and don't

plan to get one.

[Writer]

2. And how did you pay them off?

[grannylib]

7. When I had gotten laid off, I made the HORRIBLE decision to cash out

the little bit I had in a 401k. Got raped on the taxes, but paid off the damn plastic.

[Writer]

12. Eeek. That's both a good and bad tale...

and I hope you've been able to save more since then.

We have one card that we keep paying down, only to have it pop up again (wack-a-mole). However, every time we make a large payment to it, the credit card company increases our limit. x(

[CaliforniaPeggy]

3. My dear Writer!

Oh, yeah...

But I do pay them off every month, for the most part...

It's not a problem for me!

They are very convenient...

:hi:

[fizzgig]

4. i fucked myself over but good with credit cards a few years back

on a debt management plan now and should have it all paid off in a few years

[Writer]

5. I did that same thing when I was your age, btw.

I was (personally) debt free by 27.

[fizzgig]

6. i'll be 30 or so by the time the cc debt is gone

and then there's those damn student loans

i will say that i'm glad i blew myself up now, rather than waiting until i had a house or kids or both

[Writer]

8. Yeah, I still have those.

And if you pay everything off by 30 you'll have a chance of financial comfort.

My sisters (much older) didn't learn that. They both have filed for bankruptcy over the last 15 years.

[fizzgig]

10. i could have filed bankruptcy, but chose not to

i got myself into this mess, so i'm going to clean it up

[Chan790]

9. Yeah, but less than $200.

I use the card, the only card, so that I get one easy bill monthly for some services and fees. Occasionally, I might use it to float a large expense over a few months. That's it. I had my limit reduced to $500 and frozen there. That way if I need to obtain more credit I have to take the time and thought to call and request a credit-increase.

[some guy]

11. other

I used my cc last month, so I technically have debt, until the statement comes, and I pay it off.

I don't use it often, but occasionally, for large purchases/expenses. Then I pay it off when the bill comes.

[Mugu]

13. I'm not sure how to answer.

I charge many purchases each month, but always pay the balance at the end of the month. So I get interest free loans until I pay the debt which I do every month.

[Writer]

15. Are you able to pay it off because of your discretionary income?

What do you do for major car repair, etc.?

[Mugu]

16. I'm older now and have made a habit of living below my means

so I can pay unexpected bills. I know what most of my bills are going to be and have an automatic payment schedule for more than the expectant bill. If something extraordinary happens I can fall back on the credit amount.

Regards, Mugu

[Fla Dem]

26. Same here. Cash for everyday expenses

which used to include gas. Now I don't carry enough cash to pay for gas so it goes on the card. Unusual expenses or planned big purchases go on the one and only card I have. But I always make sure I have the funds to pay the balance off when the statement comes in. Just to refine that a bit. I keep a certain amount in my checking account that I never touch. It's kind of like a safety net just in case some real critical need arises. But you have to work hard to get to the point where you can manage your finances like this.

[crimsonblue]

14. Yup!

i definitely do, and it probably won't be going away until after I'm out of school for a couple of years... so in other words, when I'm 30.

[petronius]

17. No rolling-over credit card debt. Student loans are another story...

[terrya]

18. I'm in a debt consolidation program right now.

Yes, I have credit card debt.

I should not own a credit card. Period. I'm too irresponsible.

[RebelOne]

19. I had so much credit debt that I was forced

to file for a Chapter 13 bankruptcy. I had 2 judgments on me and my pay was being garnished, so I had no choice.

[JustABozoOnThisBus]

20. I don't carry the debt over

I pay the entire amount, so avoid the interest.

Recently, I stopped charging gas. Most gas stations around here have started adding 6 or 8 cents per gallon to use a credit card, so I have reverted to cash for that expense.

I like Mugu's answer, "I'm older, and learned to live within my means". Yep, that's me too, grayer and living small.

:hi:

[femmocrat]

21. Happily debt-free.

I do have one credit card that I use for on-line purchase, for example. But I pay off the balance when I get the bill.

Otherwise, I use cash or write a check.

:hi:

[Phillycat]

22. None, thank god.

My husband and I used the Am Ex a few times when we first got married, because we got our house at the same time and everything came due at once. But we paid it off and haven't touched it since. I love not having credit card debt.

[Courtesy Flush]

23. I use plastic all the time, but have zero debt

We use credit cards like cash. We buy gas, groceries, and everything else with them. But we pay the entire balance every month. It's been years since we've had a nickel of debt.

I don't understand the people who cut up their cards. I guess they just have no discipline. We like the convenience, and we get cash back. When we choose a card, we don't care how much interest they charge (because we're not going to pay it anyway), we look for perks like cash back. We actually profit from using credit cards.

We actually paid off our mortgage with a credit card. We got an offer for a new card that was interest-free for a year on any balance transfer we put on it. Well, we still had about $10K left on our mortgage, so we paid it off with the credit card, and paid no interest on the last year of house payments.

You just have to maintain a lifestyle that's consistent with your income level, not your credit level.

[Pierre.Suave]

29. You hit the nail on the head here

"You just have to maintain a lifestyle that's consistent with your income level, not your credit level."

Such a glaringly obvious point that so many do not get.

[yellowdogintexas]

33. nail on the head there, yes indeed. I am into points and perks now seriously

I have a zillion point on my Sears Master card which I can convert eventually into a Sears gift card, or other stuff.

I have a new USAirways card that I got only because I got enough miles for a free plane ticket and added in all the miles I had accumulated in the current trip I was on. I will use that because USAir flies to PHoenix where my daughter lives so I can see her w/o airline cost..

I have one card that I have had forever, never use it. I got the bright idea to stick my Netflix on that card so it keeps the card active and it is just that one bill every month. I can set that up on auto pay and not think a thing about it after that.

[grace0418]

35. I have two cards, both with perks. One gets me airline miles and I have nearly

enough for two first class tickets to New Zealand (woo-hoo!). But I always got irritated when I went to CostCo because only takes Amex. Then my friend told me about the Hilton Honors Amex, and you get points really fast on it. I usually stay in apartments when I travel but once in awhile I need a hotel room for a night. The points are perfect for that because it's easy to get a free night or two. I hate the thought of paying $150 and up for a really generic hotel (which is why I prefer to rent apartments) but getting one for free is great!

[kentauros]

24. I have some, though I try to pay it off each month.

Only the dental "credit" account doesn't get paid off entirely each time. It's empty now, but I will be "filling it up" again, soon. I keep one credit card for online purchases instead of using my debit card, for security reasons. I never buy more than I can pay off in a month, so it's no big deal. I've never had a problem with maxing out a credit card. I just don't spend that much (except fixing my teeth )

[Wcross]

25. I keep one card but never use it- pay cash with my debit card.

When I acheived debt freedom I built up an emergency fund, it acts as my "line of credit" would with a credit card.

[supernova]

27. No debt

thank god.

I got into debt, about 7k, thanks to a very spendthrift, chronically unemployed/underemployed ex. Took about 5 years to pay off after the divorce. Paid it off six years ago and have never looked back.

Can't say that I'm wealthy, but I have managed to keep my house and keep my monthly bills very low. I don't have a car note either, because I bought my car outright from the previous owner.

I do have one debit card that I use and it gets paid off every month. I never try to play the float either. I keep a careful eye on my balance and if I don't have $$, the card stays in the wallet. I only use it for the convenience factor. I do have a financial cushion too as much as I can so that if a company does "freeze" my $ for a charge, they can't take all of it.

Debt free is the way to go.

The only way I would even consider going into debt now is maybe, perhaps, to further my education... and home improvements. And even then I would carful consider it because the idea makes me somewhat ill.

[Pierre.Suave]

28. Other

I only carry CC debt for less than the grace period, and not much at that.

I use my Debit Card for most of my purchases

[Courtesy Flush]

30. I just heard this on NPR

A woman called in with her answer to cutting up credit cards. Rather than destroy her CC, she keeps one on hand for emergencies... frozen in a block of ice. It's accessible, with some effort, and she has to think twice before actually using it. She said she's been doing it for years.

[Pierre.Suave]

32. HAHA

Thats hilarious.

[grace0418]

36. That wouldn't work for me. I know the number by heart, LOL! Luckily though I learned

years ago not to go overboard with spending. I pay it off every month no matter how much it hurts. I used to use a debit card all the time but got sick of the long lines of charges on my bank statement every month.

[yellowdogintexas]

31. mine is not much relative to what I COULD have if I used everything the

card companies offer me. Jeez. I have the credit limit of someone with way more income than my husband and me put together, and they keep raising it. I don't use it all of course, maybe like 5%

I had some major dental work and put that on the Master Card after ins paid off all it was going to. That is all paid off but had to get two new appliances, but those are 0% until May 2009, and a couple of plane tickets, some car repairs. What with one thing and another all but the 0% will be over and done with in another 2 months or less. Compared to years in which I could not see the end of paying the MC or VISA whatever was left over after food, utilities, rent etc this is not so bad.

Department store, gasoline all get pd monthly just like other bills. They are mere conveniences, and with my online bill pay, it is so easy to pull up by payee if I want to see just how much I DID spend on gasoline, or clothes/cosmetics over a given year.

[grace0418]

34. I used to but haven't for years. I use two cards that get airline miles and hotel points

but I pay them off every month no matter what. Even if I have to take money out of savings, I do it. The hotel points just got me two free nights at a place that's $250 a night and the airline miles are buying me two first class tickets to New Zealand (hopefully) next year.

[mainegreen]

37. 1 card, paid off and the end of every month.

Building up a ton of cash back. 'Saving' this for a vacation.

Another card I have is never used. Backup for 'in case' situations.

[SacredCow]

38. Yeah....

But not all that much and I'm working on paying it off. I have the money in my savings account to pay it off, but the interest rate is currently zero (except for new purchases) so I'd just assume make the payments.

[Burma Jones]

39. Wife and I have three cards that we actually use

One is for joint stuff like gas, dining out and groceries (we get points), one is mine and is for online transactions, one is hers and is for her online transactions, the cards we use for online transactions have lower credit limits than we would otherwise have. All get paid off every month, usually - if not, within two months.

My card has a very handy benefit, it monitors my credit and informs me whether there have been any credit inquiries associated with my SSN and gives me my credit score every month. My wife has a similar service through our bank. Both are "free"

[La Lioness Priyanka]

40. finally got out of mine