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How much credit card debt are you in?

Original post by Katherine121

Thread views: 4,483

You can remain totally anonymous on this one by just responding to the poll.

When I listened to a news report about how the majority of Americans LIVE off of their credit cards, it got me to thinking. Just how much credit card debt does the average American family have?

N.Y.bride Thread views: 4,483

Re: How much credit card debt are you in?

Maybe $100 or so, but I have tons of student loans!!!!!

cocoa Thread views: 4,483

Re: How much credit card debt are you in?

Posted by trnity44

Posted by trnity44

none- DH and I dont carry a balance on our credit cards. It is completely paid off every month.

I have to say too, that DH and I use our credit card for everything. We get airline miles for it, and always pay it off

same here.

Valentinegirl Thread views: 4,483

Re: How much credit card debt are you in?

Posted by trnity44

none- DH and I dont carry a balance on our credit cards. It is completely paid off every month.

We just did this too so none.

Kris77 Thread views: 4,483

Re: How much credit card debt are you in?

Not a dime. We pay cash for everything.

lcherian Thread views: 4,483

Re: How much credit card debt are you in?

Posted by trnity44

none- DH and I dont carry a balance on our credit cards. It is completely paid off every month.

same here.

palebride Thread views: 4,483

Re: How much credit card debt are you in?

right after the wedding, when we moved into our co-op, we were charging a lot and then had a bunch of things come up, so we built up about $5000 worth of CC debt.
I was paying over the minimum, but we kept adding to it, and unfortunately, it stayed pretty high.
Happily, we recently paid it all off, and are now debt free and it feels soooo good!

and i'm hopeing that raised my already good credit score a bit, from what is being said in this thread....

beautyq115 Thread views: 4,483

Re: How much credit card debt are you in?

NONE! Anymore that is...but I do have student loans and a car that I am paying off

Shorty McBride Thread views: 4,483

Re: How much credit card debt are you in?

Nearly 2K - but it was all tuition. I'm in the process of paying it off. I'll have it done by the end of the semester, just in time to charge NEXT semester!

SweetCin704 Thread views: 4,483

Re: How much credit card debt are you in?

None for us, we always pay in full e/ month, I'm anal about it.

ssdbk Thread views: 4,483

Re: How much credit card debt are you in?

I have some CC debt, but it is getting lower very rapidly (so glad).

DH has none.

Mine is all from when I started my law practice. I did not take out any type of business loans, so I charged some things. In the meantime, I got my student loans paid off, built up the business and now I can pay a big chunk to my CCs at once. And who pays my bills? The clients that come to me to file their bankruptcies! That's one of my specialties. Most of them have debt from $40K-$60K when they come to me. The saddest ones are the people with high medical bills who got sick and had no insurance. Happens TOO often!!!

snowprincess805 Thread views: 4,483

Re: How much credit card debt are you in?

the reason your credit rating goes up when you leave balnaces - is the credit cards increase your credit limit hoping you will charge more and get more interest

but if you are paying more than the minimum - your debt to credit ratio can go down when they increase your credit limit - which helps your credit rating score

and then it is not good to cancel cards so once it is paid off you can have a very good ratio

i have only balances twice - and now it is almost gone - but i did law school without loans - my credit limits skyrocketed compared to having to ask for raises in my credit limit when i paid it off every month

lcherian Thread views: 4,483

Re: How much credit card debt are you in?

Posted by snowprincess805

- but i did law school without loans -

wow, you're really lucky!

Preshy7 Thread views: 4,483

Re: How much credit card debt are you in?

EVERY MONTH MY BILL IS ALOT $2-3K AT LEAST- I TAKE CLIENTS OUT ETC. BUT I DONT CALL IT DEBT BECAUSE IT IS PAID OFF EVERY MONTH

NPbride Thread views: 4,483

Re: How much credit card debt are you in?

Posted by SweetCin704

None for us, we always pay in full e/ month, I'm anal about it.

Same here.

I never heard about carrying a balance would make your credit score go up. I've have a credit history of about 8/10 years and have NEVER had a balance of any sort, but when we applied for a mortgage last year my score was well over 800. So I don't understand the whole carrying a balance thing.

lipglossjunky73 Thread views: 4,483

Re: How much credit card debt are you in?

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...

heidla Thread views: 4,483

Re: How much credit card debt are you in?

We don't carry any balance on our credit cards. Our polociy is if we can't afford to pay for it by the end of the month then we don't buy it.

Mrs. Powell Thread views: 4,483

Re: How much credit card debt are you in?

Posted by heidla

We don't carry any balance on our credit cards. Our polociy is if we can't afford to pay for it by the end of the month then we don't buy it.

I really do agree with you. This is one of the things that my parents taught me as child. If I am going to make a purchase on my credit card I should be able to pay the bill at the end of the month without a struggle.

lipglossjunky73 Thread views: 4,483

Re: How much credit card debt are you in?

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...

Beth1210 Thread views: 4,483

Re: How much credit card debt are you in?

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...

wow- that's rough!

lipglossjunky73 Thread views: 4,483

Re: How much credit card debt are you in?

Posted by Beth1210

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...

wow- that's rough!

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... )