Credit card debt-personal

Original post by christy

Jan 17, 2004 03:40 PM

My question is...do you make monthly minimum payments or do you pay them in full each month?

My goal this year is to really payoff as much credit debt as I can...

Stacey1403 Posted: Jan 18, 2004 08:54 AM

Re: Credit card debt-personal

We pay in full also

Jenn P Posted: Jan 18, 2004 04:53 PM

Re: Credit card debt-personal

Posted by Stacey1403

We pay in full also

So do we. We just have the mortgage and one car loan-and that is plenty!

NYCHICK Posted: Jan 18, 2004 06:32 PM

Re: Credit card debt-personal

FH and I both have a fear of debt(what a couple we make) . We both pay ours off in full when ever we use it.

mlp924 Posted: Jan 18, 2004 06:41 PM

Re: Credit card debt-personal

we cut up our cards about 5 years ago. We pay cash for everything we possibly can or we use the Visa check card (can't spend what I don't have )

Xelindrya Posted: Jan 18, 2004 08:00 PM

Re: Credit card debt-personal

I never pay minimums. I always overpay but not pay off.. can't afford it. I also keep to cards at pretty low limits under $1000 that are separate so it's harder for me to be tempted to use up the full value. If I use them, I pay them off in 6 months tops.. but try to pay them off in 3 months. I'd have more money in my pocket each month if I paid minimums. But I want to have at little debt as possible.

dietzer Posted: Jan 18, 2004 08:09 PM

Re: Credit card debt-personal

I owed lots of $$ - $10k+ - but went to a debt consolidator and worked with him to pay my debt down. Then I met DH and we moved in together and I was able to pay off all my debt. It feels so much better. It is really scary how easily one can get into so much debt- and have nothing to show for it!

HappyEverAfter Posted: Jan 19, 2004 11:19 AM

Re: Credit card debt-personal

I had a credit 'issue' when I was in college, and learned how fast debt can come up the hard way. I use my credit cards as cash, and pay them off every month. The only reason I use credit cards at all is for the rewards program.

Sassyz75 Posted: Jan 19, 2004 11:45 AM

Re: Credit card debt-personal

We have some debt- around $10k.. we are slowly but surely paying it down. We are able to pay more than the minimums AND we have excellent credit and a great rate- 3% until we pay it off...

starhead Posted: Jan 19, 2004 12:00 PM

Re: Credit card debt-personal

We have some at this point, from moving into our house and xmas - about $5k which is more than we ever had. We're going to pay it off in the next few months though. It does suck and it is scary how fast you can get in debt, buying stuff and paying for it when you don't even know what you're paying for anymore. Credit cards are evil and those companies prey on college kids who don't know what they're getting into.

How do you get your limit lowered??
I think that would really help if I could not go abouve $1k or something like that. Can you just call and ask?

yabbobay Posted: Jan 19, 2004 12:02 PM

Re: Credit card debt-personal

Posted by starhead

How do you get your limit lowered??
I think that would really help if I could not go abouve $1k or something like that. Can you just call and ask?

yes...definitely...I have done this before...just remember you can set the limit going down..but if you need it again...its harder to go back up...but thats porbably a good thing

starhead Posted: Jan 19, 2004 12:05 PM

Re: Credit card debt-personal

Do you have to pay it off before you can lower it? If I have $5k outstanding, would they not lower it to like $1k b/c I already owe more than that? Or is that my limit going forward?

yabbobay Posted: Jan 19, 2004 12:12 PM

Re: Credit card debt-personal

right...well technically they could...but then you would be paying over the limit charges...it sprobably better to call them each month after you make a payment and reduce it (but leave some cushion for finance charges...

ChristineC68 Posted: Jan 19, 2004 12:23 PM

Re: Credit card debt-personal

Posted by starhead

Do you have to pay it off before you can lower it? If I have $5k outstanding, would they not lower it to like $1k b/c I already owe more than that? Or is that my limit going forward?

THey would lower the limit, but they may raise the interest rates since your balance is currently over the limit.

Kelly9904 Posted: Jan 19, 2004 12:46 PM

Re: Credit card debt-personal

We have no CC debt! I watched 2 siblings get into massive credit card debt and I wouldnt do it! I pay off y balances in full every month!

I use my CC pretty freely simply because I dont cary much cash but I am also practical and I know how much I can afford to spend each month! (I dont trust Debit Cards because I know I wuold forget ot mark down my debits and I would wind up overdrawing)
I use mainly my AMEx which I dont have to pay off in full each month but I figure thats the only way to go!

FH is the same way! Together our debt includes 1 school loan and 2 car payments!