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Posted on 6/9/15 at 10:05 am to stout
There is no point of using a credit card if you can't pay it off monthly.
Posted on 6/9/15 at 10:06 am to BabyTac
0
Posted on 6/9/15 at 10:06 am to saderade
Just got my first one because no one told me how vital credit was growing up 
Got a small limit and will pay off every month though
Got a small limit and will pay off every month though
Posted on 6/9/15 at 10:06 am to Mo Jeaux
quote:
A lot of truth being told.
True in my case. Those credit card fricks can make their money off transaction fees with retailers--I am more than happy to deny them a single penny in interest charges.
CC companies are maggots, like most other financial institutions.
Posted on 6/9/15 at 10:08 am to BabyTac
quote:
the average American household (that carries debt) stands at $15,706.
Holy shite that would give me an ulcer. I have a fairly high balance right now around $6k but that is due to three large expenditures (vacation, tires/wheels, tuition for wife). Normally my balance hovers between $0-500 and gets paid off by months end. I would never charge more than i could pay off in a reasonable amount of time. My only other debt is a truck.
Posted on 6/9/15 at 10:09 am to BabyTac
quote:
How much credit card debt do you carry?
Expect many truthful answers to follow.
$0 for my wife and me. All balances are paid off every month.
This post was edited on 6/9/15 at 10:20 am
Posted on 6/9/15 at 10:11 am to saderade
quote:
There is no point of using a credit card if you can't pay it off monthly.
Please do enlighten us with your impressive knowledge of financial instruments.
Posted on 6/9/15 at 10:12 am to VABuckeye
quote:Too much. However, 80% of my total is for an Amex line of credit at 6% and Dell at 3.25%.
How much credit card debt do you carry?
This post was edited on 6/9/15 at 10:16 am
Posted on 6/9/15 at 10:13 am to Mo Jeaux
quote:
Please do enlighten us with your impressive knowledge of financial instruments.
So you're saying credit debt is a good thing? Honestly curious here
Posted on 6/9/15 at 10:15 am to BabyTac
$0 interested balance. Paying more than 5% interest on anything is absurd.
Posted on 6/9/15 at 10:15 am to BabyTac
Average American family carries 15K? Wow that is really high if you consider the average income...
Posted on 6/9/15 at 10:15 am to BabyTac
Usually pay it off each month, just booked a trip and bought some other stuff though. Around 1k on there now, will pay it off next month, still in intrest free period.
Posted on 6/9/15 at 10:17 am to wildtigercat93
quote:
So you're saying credit debt is a good thing? Honestly curious here
Can debt be used in a beneficial way in certain circumstances? Absolutely.
Posted on 6/9/15 at 10:18 am to wildtigercat93
quote:
So you're saying credit debt is a good thing? Honestly curious here
I can tell you that it does nothign for your credit to pay off your balance every month.
Not that it hurts you, but if you're trying to get some ridiculous high credit score, it's best to keep a balance around the 20% range of your limit. For whatever dumb reason, the credit reporting agencies think it's more responsible to carry a minor balance than to pay it off in full each month.
Posted on 6/9/15 at 10:18 am to jennBN
quote:And it's getting worse every day. I predict a new wave of credit card defaults over the next couple of years. The current administration is careful to steer you away from these numbers.
Average American family carries 15K? Wow that is really high if you consider the average income...
Posted on 6/9/15 at 10:19 am to Chimlim
Once you realize the rip off game CC interest is why would play?
Posted on 6/9/15 at 10:19 am to BabyTac
$0.01
Posted on 6/9/15 at 10:19 am to Mo Jeaux
Name one scenario where paying interest on a credit card is a financial savvy move.
Posted on 6/9/15 at 10:19 am to TeddyPadillac
quote:
Not that it hurts you, but if you're trying to get some ridiculous high credit score, it's best to keep a balance around the 20% range of your limit.
Not true in our case. My wife (and I) have zero credit card debt and pay off our balances every single month.
My wife's credit score, compliments of TransUnion through her Discover Card. This is the highest credit score I have personally ever seen.
This post was edited on 6/9/15 at 10:21 am
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