Re: How much credit card debt are you in?

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Posted by lipglossjunky73

We are living in credit hell now, but thats because we had no money to live... we get calls from creditors all the time - its a nightmare...

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Ever thought of consolidating?

Re: How much credit card debt are you in?

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Posted by Beth1210

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Posted by ckgmwedding

NONE! I pay my off each month and DH only leaves a couple of hundred on his to increase his credit score. Believe it or not, his is higher due to his having a small balance that he pays off over time.

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Jake- my DH and a credit expert- mortgage banker told me they don't like it when you pay in full- it better to carry a balance- another crazy thing that doesn't make sense

that's why my score is as high as it is- I always a have balance, pay more then the minium

everyone wants to give me credit- it's annoying

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There are much better ways to 'keep a balance'. A car loan is a perfect example. Same goes with a student loan.

You should NEVER carry CC debt if you have a choice. A slight increase in your credit score is not worth 20% interest every month.

I actually had somebody once tell me... 'Oh I dont pay off my CC balance because I have cash in my savings thats earning interest and I don't want to touch.'

Whats worse... 1.5% MM savings? Or 20% CC interest?

Sometimes people just don't think.

Re: How much credit card debt are you in?

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Posted by lipglossjunky73

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Posted by Beth1210

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Posted by lipglossjunky73

See - the thing is - how many of you have FH's paying child support? And maintenance? Before I got involved with him, I had my credit under control - being engaged to someone who half his salary goes to his ex-wife is hard to do and still be in the clear with credit...

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wow- that's rough!

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this year has been the roughest - between him being laid off and getting a new job with a 20k paycut, the holidays and birthdays both in January for his 2 daughters, plus his debt before we were together (he is 10 years older than I am and had a few relationships before me - he went away with them and did all the fun stuff - now he settles down and I get stuck with the bills with him... )

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That is a hard one!!! I'm just curious if you are helping to pay off the debt that he accumulated before your engagement?


Before DH and I were married we didn't combine our money. Heck, I still have my own savings and checking account in addition to our joint one. I know that I am over cautious, but if anything were ever to happen I don't want to have all my possesions intermingled.

Re: How much credit card debt are you in?

Even WITH insurance you can pay alot out of pocket. I am going to get socked with a $2,000 medical bill soon with my procedure I just had. The actually bills were over $40,000 though! This was unexpected and we did not have this extra money sitting around. We are going to use our tax money to pay off the bills. I don't want to but I am very lucky just to be alive.

Re: How much credit card debt are you in?

There are much better ways to 'keep a balance'. A car loan is a perfect example. Same goes with a student loan.

You should NEVER carry CC debt if you have a choice. A slight increase in your credit score is not worth 20% interest every month.

I actually had somebody once tell me... 'Oh I dont pay off my CC balance because I have cash in my savings thats earning interest and I don't want to touch.'

Whats worse... 1.5% MM savings? Or 20% CC interest?

Sometimes people just don't think.

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if your cc interest rate is lower than your savings rate, best to put it in savings imo. i have a cc that is 0%, i kept a balance (school related) no more than 2k, put what i would have paid to the cc in savings - when my 0% is up I am going to xfer out of my savings and pay if off, I end up making a few hundred $$ in interest..

Re: How much credit card debt are you in?

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Posted by heidla

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Posted by lipglossjunky73

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Posted by Beth1210

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Posted by lipglossjunky73

See - the thing is - how many of you have FH's paying child support? And maintenance? Before I got involved with him, I had my credit under control - being engaged to someone who half his salary goes to his ex-wife is hard to do and still be in the clear with credit...

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wow- that's rough!

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this year has been the roughest - between him being laid off and getting a new job with a 20k paycut, the holidays and birthdays both in January for his 2 daughters, plus his debt before we were together (he is 10 years older than I am and had a few relationships before me - he went away with them and did all the fun stuff - now he settles down and I get stuck with the bills with him... )

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That is a hard one!!! I'm just curious if you are helping to pay off the debt that he accumulated before your engagement?


Before DH and I were married we didn't combine our money. Heck, I still have my own savings and checking account in addition to our joint one. I know that I am over cautious, but if anything were ever to happen I don't want to have all my possesions intermingled.

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same thing here...his loans are his. my debts are mine...

i have my own accounts and he has his..and its working wonderfully..no resentment or anything...
if we go out we alternate who pays...we dont fight about money- he lets me do what i want

Re: How much credit card debt are you in?

None!

Re: How much credit card debt are you in?

we pay off the balance every month. no need for more debt

Re: How much credit card debt are you in?

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Posted by DjPiLL

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Posted by Beth1210

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Posted by ckgmwedding

NONE! I pay my off each month and DH only leaves a couple of hundred on his to increase his credit score. Believe it or not, his is higher due to his having a small balance that he pays off over time.

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Jake- my DH and a credit expert- mortgage banker told me they don't like it when you pay in full- it better to carry a balance- another crazy thing that doesn't make sense

that's why my score is as high as it is- I always a have balance, pay more then the minium

everyone wants to give me credit- it's annoying

---

There are much better ways to 'keep a balance'. A car loan is a perfect example. Same goes with a student loan.

You should NEVER carry CC debt if you have a choice. A slight increase in your credit score is not worth 20% interest every month.

I actually had somebody once tell me... 'Oh I dont pay off my CC balance because I have cash in my savings thats earning interest and I don't want to touch.'

Whats worse... 1.5% MM savings? Or 20% CC interest?

Sometimes people just don't think.

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I totally agree..

Re: How much credit card debt are you in?

Whats worse... 1.5% MM savings? Or 20% CC interest?

Sometimes people just don't think.

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I don't pay close to 20% - except on my bloomies card-

I depleated my personal savings after the wedding- so once it's back to where I want it to be- I am paying almost all towrds my cards

Jake told me next big commission check- it's all mine to pay down my bills- anyone need a loan?

Re: How much credit card debt are you in?

zero - we dont use credit cards - if we cant afford to buy it cas we dont need it

Re: How much credit card debt are you in?

We have about 12K debt that is slowly decreasing, but I use my Amex and pay that off month to month. I have to get more into paying cash for everything.

Re: How much credit card debt are you in?

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Posted by jessnyc711

We have about 12K debt that is slowly decreasing, but I use my Amex and pay that off month to month. I have to get more into paying cash for everything.

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we could be the same person

I took my Amex out of my wallet this month- and the bill is next to nothing- I had to use it for 2 things- but now I use my debt card more and I think more before I spend real money

Re: How much credit card debt are you in?

we could be the same person

I took my Amex out of my wallet this month- and the bill is next to nothing- I had to use it for 2 things- but now I use my debt card more and I think more before I spend real money



I'm into using my debit card too, so I guess thats more like cash. It just seems like there's always something coming up like someone's birthday, holiday get togethers, I like to have friends over and entertain....I guess thats what gets me in trouble - I have to stop doing all these things and say no.
I'm just a sucker for enjoying the 'NOW' in life. I don't know, anyone else go through this?

Re: How much credit card debt are you in?

none (whew!)