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  1. #1
    Join Date
    Jun. 16, 2006
    Location
    SE Coastal NC
    Posts
    1,708

    Default Credit card debt? Do you have it?

    I read an article this morning about American debt - government debt, individual debt, spending vs income, etc etc. It gave a statistic about the credit card debt of the average American and I was shocked. It was close to $16k! I can't imagine trying to pay that off with the average interest rates out there!

    Since I put most of my purchases/expenses on a credit card (rather than use cash or debit), I usually have a running balance but I also pay most, if not all, of that balance off every month. At one time I had a few thousand on there that I was working on paying off when money was tight and my dog had orthopedic surgery. Otherwise I generally have no ongoing credit card debt.

    Just polling the COTHers out there, do you carry a lot of credit card debt?
    "Farming looks mighty easy when your plow is a pencil, and you're a thousand miles from the corn field." --Dwight D Eisenhower

    Boston Terrier Rescue of NC - www.btrnc.org - Adopt for Life!



  2. #2
    Join Date
    Apr. 23, 1999
    Location
    Rosehill, TX
    Posts
    7,072

    Default

    None
    only debt is mortgage (pay a little extra on that each month to accelerate payoff)
    hope to keep it that way (knock wood)

    I regularly use three credit cards for gas, groceries, etc (pay in full each month) to keep my credit score up
    Nothing says "I love you" like a tractor. (Clydejumper)

    The reports states, “Elizabeth reported that she accidently put down this pony, ........, at the show.”


    2 members found this post helpful.

  3. #3
    Join Date
    Mar. 30, 2007
    Location
    Hollowed out volcano in the South Pacific.
    Posts
    11,660

    Default

    I'm debt free and have a good credit rating. I'm also exceptionally huggable.
    Thus do we growl that our big toes have, at this moment, been thrown up from below!


    28 members found this post helpful.

  4. #4
    Join Date
    Dec. 31, 2009
    Location
    Area 51
    Posts
    1,714

    Default

    Right now, just one card with Christmas spending on it. So, not much at all. I'm paranoid about paying off credit cards in one go because my grandmother did that and they canceled her card!
    I LOVE my Chickens!



  5. #5
    Join Date
    Jun. 8, 2012
    Location
    NOVA
    Posts
    1,490

    Default

    No debt
    You don't scare me. I ride a MARE!


    1 members found this post helpful.

  6. #6
    Join Date
    Jan. 9, 2009
    Location
    a little north of Columbus GA
    Posts
    1,911

    Default

    Been there, done that, never again. No credit card debt.
    --
    Wendy
    ... and Patrick


    1 members found this post helpful.

  7. #7
    Join Date
    Jul. 14, 2000
    Location
    NM
    Posts
    1,552

    Default

    No debt - mortgage, tractor/cars/truck paid off.


    1 members found this post helpful.

  8. #8
    Join Date
    Dec. 12, 2010
    Location
    Kansas
    Posts
    1,197

    Default

    I have one credit card and always pay it off when I get my paycheck. So usually 2-3 times a month, whether it's $100 or $500.
    http://www.youtube.com/user/NBChoice http://nbchoice.blogspot.com/
    The New Banner's Choice- 1994 ASB Mare
    Dennis The Menace Too- 1999 ASB Gelding
    Dreamacres Sublime- 2008 ASB Gelding


    1 members found this post helpful.

  9. #9
    Join Date
    Apr. 15, 2008
    Posts
    1,509

    Default

    No debt other than mortgage and we just upped the payment to accelerate payoff! Whoohoo!


    1 members found this post helpful.

  10. #10
    Join Date
    Aug. 14, 2000
    Location
    Rochester,NY,USA
    Posts
    7,518

    Default

    Never had credit card debt. While I do use my card for everything I possibly can, I have a reasonable monthly balance and pay it off completely. I was taught to save my entire life. When my company would give nice bonuses, mine was rarely ever taken but instead put aside for my retirement. I've paid off the mortgage on my farm in 11 yrs and retired comfortably at 58. Am 68 and still very comfortable.

    I was raised that 'if you can't afford it, you don't buy it.' I've paid cash for every car/truck I've owned. When I bought the house and land I now have, I did take out a mortgage but paid cash for the barn/indoor, post and rail fencing, outdoor arena with lights, addition to my home and any further improvements.

    And yes, I'm very proud to be able to say this.
    Sue
    Back in my day, we didn't have as many warning labels because people weren't so dang stupid!


    8 members found this post helpful.

  11. #11
    Join Date
    Feb. 15, 2010
    Posts
    2,996

    Default

    Quote Originally Posted by SkipHiLad4me View Post
    I read an article this morning about American debt - government debt, individual debt, spending vs income, etc etc. It gave a statistic about the credit card debt of the average American and I was shocked. It was close to $16k! I can't imagine trying to pay that off with the average interest rates out there!

    Since I put most of my purchases/expenses on a credit card (rather than use cash or debit), I usually have a running balance but I also pay most, if not all, of that balance off every month. At one time I had a few thousand on there that I was working on paying off when money was tight and my dog had orthopedic surgery. Otherwise I generally have no ongoing credit card debt.

    Just polling the COTHers out there, do you carry a lot of credit card debt?
    Nope. I don't use the card unless absolutely necessary, and then I pay it off right away. To do otherwise is just handing out your money.
    Proud Member of the "I Don't Do Facebook" Clique


    1 members found this post helpful.

  12. #12
    Join Date
    Jun. 24, 2005
    Location
    Alabama
    Posts
    9,089

    Default

    I am terriefied to have any debt except the mortgage, and my credit cards get paid off each month. I know that my next car will require payments, but I'm putting that off as long as possible. I'm also regularly looking at what cars / SUVs I need for where I live now, and looking at the most afforable options, and looking at what I would need if I moved. I pay from savings for things for the house, and pay myself back. My tax refund (I always get one, and I do zero deductions, because when I move the money I receive for that is treated as income, and I refuse to have to pay the government) goes right in the bank each year. Any extra money I put in savings too. I know that it's only my money that I can count on, and unlike my siblings, I will not be getting anything from my parents, so I have to be careful.

    I don't want to end up like the retirees I saw when I lived in Colorado, who retired, moved, and then found out they had to get jobs to survive.
    You can't fix stupid-Ron White


    3 members found this post helpful.

  13. #13
    Join Date
    Feb. 15, 2007
    Location
    Midwest
    Posts
    760

    Default

    I have just under $2500 in credit card debt. It was almost double because 18 months ago I went through a dissolution and found myself living on credit until all things equaled out (child support, spousal support, expenses out of my name, etc). My goal is to have it all gone by July of 2014. Other than that, my car is paid in full, I have one student loan that only has just over $3000 left on it, and the only other thing is my mortgage, that is now under $90k. Once I pay off the rest of my credit card debt, those payments will then be added onto my house payments, with the hope of paying off that 30-year loan in 10 years.

    And now that I've put all that out there in the universe, I fully expect for all kinds of money-eating catastrophes to happen. <sigh>
    “Riding a horse is not a gentle hobby, to be picked up and laid down like a game of Solitaire. It is a grand passion.” ~Emerson


    2 members found this post helpful.

  14. #14
    Join Date
    Nov. 30, 2000
    Location
    Kentucky
    Posts
    7,571

    Default

    No credit card debt here. With the interest rates they charge, it's crazy to carry balances on credit cards.


    2 members found this post helpful.

  15. #15
    Join Date
    Apr. 15, 2008
    Posts
    3,115

    Default

    pay it off each month.

    one of my cards goofed and failed to send me the right bill (sent me december's bill in november and vice versa) so i underpaid that one month; they charged 29% interest on the remaining balance the next month!! (i called and yelled and they credited it back to me; also, it was on a $3.50 balance so it wasn't a huge dollar amount, but still--! talk about usury--! )
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    Gravity works, and the laws of physics are a bitch.

    Member: Rabid Garden Snail Clique


    1 members found this post helpful.

  16. #16
    Join Date
    Jan. 9, 2009
    Location
    a little north of Columbus GA
    Posts
    1,911

    Default

    Quote Originally Posted by msj View Post
    I was raised that 'if you can't afford it, you don't buy it.' I've paid cash for every car/truck I've owned. When I bought the house and land I now have, I did take out a mortgage but paid cash for the barn/indoor, post and rail fencing, outdoor arena with lights, addition to my home and any further improvements.

    And yes, I'm very proud to be able to say this.
    You should be. I *so* wish more families would teach this to their kids, instead of modeling that it's perfectly okay to run up the credit cards for things you don't really need. I was raised that way, and un-learning it was painful and expensive.
    --
    Wendy
    ... and Patrick


    3 members found this post helpful.

  17. #17
    Join Date
    Feb. 11, 2008
    Location
    gorgeos city
    Posts
    632

    Default

    So if everyone here has no or little debt, then for the average number to be $16k per person, that means that the people that do have debt must be up in the tens and tens of thousands
    That can't be right, surely?
    ----//\\----
    ---//--\\---
    --//----\\--
    -//------\\-


    1 members found this post helpful.

  18. #18
    Join Date
    Oct. 16, 2008
    Location
    Central Oklahoma
    Posts
    3,234

    Default

    Except for very large item such as mortgage/car/trailer/etc, we put everything on our credit cards and pay off every month. Anything that can't get paid off that month does not go into credit card. We refuse to pay cash, unless the vendor refuses to take credit card.


    1 members found this post helpful.

  19. #19
    Join Date
    Jul. 29, 2004
    Location
    Colorado
    Posts
    1,655

    Default

    Mortgage and car. No credit card balance.

    Hummm, does board count?


    1 members found this post helpful.

  20. #20
    Join Date
    Feb. 6, 2007
    Posts
    2,946

    Default

    Quote Originally Posted by SkipHiLad4me View Post
    I read an article this morning about American debt - government debt, individual debt, spending vs income, etc etc. It gave a statistic about the credit card debt of the average American and I was shocked. It was close to $16k! I can't imagine trying to pay that off with the average interest rates out there!

    Since I put most of my purchases/expenses on a credit card (rather than use cash or debit), I usually have a running balance but I also pay most, if not all, of that balance off every month. At one time I had a few thousand on there that I was working on paying off when money was tight and my dog had orthopedic surgery. Otherwise I generally have no ongoing credit card debt.

    Just polling the COTHers out there, do you carry a lot of credit card debt?
    Suddenly, my $1800 doesn't look so bad....


    1 members found this post helpful.

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