Do You pay your credit card balance every month?

[Bobbieo]

There is a story in The Arizona Republic headlined 'Why Americans Are Saving Less'. I pay my balance every month to the best of my ability and if I can't I don't add anything new to the balance until I get the old one paid off. I'm a child of the Great Depression with a helluva good memory

[stepnw1f]

1. Don't Have, nor do I Want One! (nt)

[Beaverhausen]

2. I have been paying down my Credit card debt for years

I am about 2 months away from getting it to zero...then I plan to pay it off every month thereafter.

[htuttle]

3. Nope. Don't have one, don't want one

If I don't have enough in my bank account for my debit card to cover it, I don't get it.

[Skidmore]

4. We do now. We got ALL of our debt paid off last year.

I will not take on unsecured debt again. I only use my card for an occasional catalog order.

[htuttle]

5. Nope. Don't have one, don't want one

If I don't have enough in my bank account for my debit card to cover it, I don't get it.

[El Supremo]

6. I have for many years.

Except when I had to pay for my dad's funeral, because I had to wait for fucking Merrill Lynch to hand over control of his accounts.

I understand that never paying interest actually hurts my credit rating.

[catmother]

11. i don't think that's true. the only interest i pay is on my mortgage

and we have a good credit rating.

[LondonReign2]

7. Absolutely, yes.

We have our credit cards on autopay (automatically deducted from our bank accounts each month on the due date).

Interest will eat you alive if you don't.

[0007]

32. Same here

[chaumont58]

8. Yes.

In the past, I didn't, and came to hate paying interest to those pukes. I pay it all off, every month now and haven't payed them any interest for years.

[Bobbieo]

15. Credit Card Holders

DUs are smart people. Is Bush going to try to set up a credit card plan for prescription drugs in his STOU address tonight?

[catmother]

9. i use my credit cards like cash. whatever the balance is, i pay

it off every month. i get 1% cashback. so i'm actually making money. as far as cars, we save money and then buy them cash. don't like paying interest. we also try to buy our cars when there a year old with low mileage. you get a much better price and still have the warranty.

[magellan]

10. Don't have any credit cards, just a debit card

If the money's not in the bank it don't get bought, period. Learned that from my dad, who was a child of the Great Depression too.

[tatertop]

12. I use my cards often and always pay the entire balance monthly

How can you rent a car or a hotel room without credit cards?

[meegbear]

13. Just joined Take Charge America ...

They're paying off my credit cards and I pay a flat fee each month + $39 fee and I'll be out of debt in 5 years.

I was unemployed and fell behind and the 30% rates they charged fucked me over.

[VOX]

18. Good step, meegbear -- you'll be getting your life back...

It takes awhile, but you've now got control, and soon you'll be free of the indentured servitude that is credit card debt.

Good going -- :thumbsup:

[Ron Mexico]

14. I wish I could.

Unfortunately, my wife stopped working for a while and we couldn't make ends meet, so we maxed both cards on fucking groceries.

[Beaverhausen]

22. Oh man...I was in that situation for a while too

and I'm finally paying mine off. Hang in there. :hi:

[Ron Mexico]

31. Thanks :)))

[xchrom]

16. yes.

more when i know that i'm going to spend -- i.e. a trip to europe which i do as often as i can -- i save in advance for what i'm going to spend.

i'm very poor so i have to be very, very strict with myself. i can't afford to take chances.

[vptpt]

25. How do you do that?

I'm quite poor myself, and would love to go to Europe. Maybe next time you go, I'll hide in your luggage and we can split the costs?

Everybody deserves to travel, lower rungs of the financial ladder included.

[xchrom]

29. you're welcome in my luggage.

however little it is -- i save it.

and boy -- i don't spend anything i don't have to inbetween -- nothing, nada, zip.
when i say i'm poor i mean it -- so my life can very, very, quiet at times -- but that's ok -- if i can travel -- all is right in my world.

[neverevergivein]

39. Not me - I owe more than my salary

well, not really, but close. Hey, if I die without paying, I win, right?

[electron_blue]

17. Yes, and I have for over 15 yrs.

[Talismom]

19. We do...for years now. n/t

[Sammy Pepys]

20. Not every month, but often enough....

My own deal with myself is that as long as I keep the balance low and manageable and make more than the minimum payment, I can carry a balance for a short period of time. I'm usually able to pay it off completely every three or four months, and keep a zero balance for at least a month or two.

I've found that once you get in the habit of being very sensitive about your credit card balance, you don't cringe as much at throwing a few bucks at it and you're a lot more reluctant about putting anything unnecessary on it.

[foreverdem]

21. I used to

Since my husband has been out of work, we can't afford to do that anymore.

[nancyr]

27. Credit card bills

I used to be able to...until I incurred some medical bills that I was unable to pay by any other means other than a credit card. Just another nightmare "health-care" story.

[McKenzie]

23. Every single month by direct debit

there is absolutely NO way I'd run up bills on a credit card. One, because I don't like being in debt. Two, because I know it pisses them off...heehee...snigger.

Staying free of debt, as far as possible, is one way of not getting too depressed if you hit lean times.

This sermon on the Patently Obvious was brought to you by Reverend Tightwad McKenzie.

[Cleita]

24. I do now, unless I have a huge unexpected expense, like

a car repair or dental bill that I can't avoid. Then I pay it back as quickly as possible. I don't think we should encourage the dishonest, but legal, usuary rampant in the industry. For anything that I can't afford but can do without, I do without.

[dryan]

26. Yes.....

[mnhtnbb]

28. Every month, unless

we have a 'gift' from a card company of x months at no interest. We put our roof repair (over $10K) on a card that gave us 6 months interest free, and that's the only one that isn't paid off. We pay $500/mo on it. We'll roll it over in Feb to another card that's interest free until July--then we'll probably pay it off.
Everything else gets paid off monthly.

[BiggJawn]

30. Heh.

No, damn it, I don't. And some months I forget to pay even the min.
Wow, wish my savings grew like my CC payment. $25 minimum, $30 for over-limit, and other $30 for late... what a racket. I ever DO get them to $0....

[formernaderite]

33. My wife keeps a credit card, I don't

I do have a business line of credit for equipment expenses. We down sized some years ago....and could live on virtually nothing incoming for years. It's a nice feeling, but most Americans are engrossed with the shopping lifestyle. I cringe when I drive past "malls" on the weekend, no wonder the trails in the woods are empty.

[CornField]

34. No credit cards here -- just two debt items (car & house)

Both of those will be paid off this summer.

[GrumpyGreg]

35. Yes I do---I also was born in the Great Depression and have always

saved money too.

The CC companies will never make much on me.

I had an interesting experience last month. I paid a $750.00 Chase bill in full and there were no new charges(I had switched to another card)

When I received the next bill there was no balance and there were no new charges but I was billed about $3.50 in interest. The total bill was for interest.

I assumed it was an error but it wasn't. It seems I was being charged interest for a reason I still can't figure out. I told them to adjust the charge or cancel the card. They adjusted the charge.

[linazelle]

36. Debit card only--credit card only for emergencies which I don't have...

often, save for leaving my debit card at home, and as a backup when traveling just in case.

[H2O Man]

37. Never had one.

Never will.

[trackfan]

38. Yes. I use it as a "charge card" not a credit card.

[Tracer]

40. Yes, I do.

The only revolving charge on my CC is my daily newspaper for $29 per month. The newspaper gives me a small break on the subscription price by putting the charge on my card.

If I purchase anything else (say, from Amazon), that gets paid off also.

I haven't been charged interest in years.

---- Slightly off-topic: I used to be kind of shocked at people in the supermarket charging their groceries. But then I realized that they probably were racking up some kind of rewards or points. (I don't think it's because they can't afford the food, this is a VERY upscale town.)

[leftofthedial]

41. I no longer have a credit card.