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Thread: CC Debt?

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    CC Debt?

    I'm just about ... 3 weeks away from wiping that horrible dark cloud out from over my head ... and was wondering ...

    How many of you are in debt?

    I was up to 10k in CC's for a while, and I'm finally OUT, FREE! YIPPEEE!!!

    I can't even describe my anticipation!

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    <------- Credit debt free since '00.

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    we pay our CC every 2 weeks
    Now rollin' with the Raider

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    I was in cc/student loan debt for around 5 years.

    Now I pay any cc bills as soon as I get them.



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    2005773

    We pay off our 1 CC every month. BUT, we do have a home equity loan that's up around 10k. I hate CC's with a passion except for buying gas. My wife's has a finance degree and some dumbass prof. told her to use the CC companies money for 30 days. What kind of idiot is that?
    Artificial Intelligence is no match for Natural Stupidity.

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    Originally posted by Rob_NC
    My wife's has a finance degree and some dumbass prof. told her to use the CC companies money for 30 days. What kind of idiot is that?

    you're kidding right?

    I charge around $1,000 per month on my cc and pay it when I get the bill.



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    Originally posted by Rob_NC
    We pay off our 1 CC every month. BUT, we do have a home equity loan that's up around 10k. I hate CC's with a passion except for buying gas. My wife's has a finance degree and some dumbass prof. told her to use the CC companies money for 30 days. What kind of idiot is that?
    Why not? You have better record of your purchases and get to use the money for up to 30 days interest free. I pay by CC every chance I get! Now if you don't pay it off every month, different story.

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    Have not had a credit card debt since 1997......I refuse to use a credit card. I save and then pay cash for major purchases.

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    Originally posted by Seahawks51
    Why not? You have better record of your purchases and get to use the money for up to 30 days interest free. I pay by CC every chance I get! Now if you don't pay it off every month, different story.

    the reason I hate them is this.... With 2 people using the same card almost daily, it becomes difficult to know how much money you've racked up on the card during the billing cycle without spending alot of time record keeping. We've had months where we spent twice as much money and that hurts. Our policy is to NEVER have a CC interest charge. My thought is,,,if you pay by check, you see how much money is in the account prior to writing the check (as long as it's balanced). It's easier to live by a budget knowing what's left to spend. I could be wacko in my thinking, but this past year has proven disasterous and it's all because of CCs.
    Artificial Intelligence is no match for Natural Stupidity.

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    Rob ... the professor meant it like this ...

    If you had 10k in a bank account for 1 month, at 1.9% ... you'd get $190

    Instead, you charge 10k, and don't accrue interest for 30 days.

    After 30 days, you've still spent the 10k, but you're $190 ahead, vs if you'd paid it all with cash.

    -----------------

    Obviously, some people can't handle that ... (see where my 10k went above )

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    2005773

    I understand what he meant, but where he went wrong was telling a female (my wife) who missed the point entirely and took it as an excuse to spend all of my money.
    Artificial Intelligence is no match for Natural Stupidity.

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    Debt free, cept a house note and a car note. It took us about 3 yrs to pay all the cards and stuff off.

    Prince, Whats the benefit in doing what you do? Why not just pay as you go?
    I pedal... Therefore I am.

    ~ You've got to stand for something, or you'll fall for anything. ~

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    Originally posted by Tboy
    Prince, Whats the benefit in doing what you do? Why not just pay as you go?

    What do you mean? I do the same thing he does. I throw down my American Express card for pretty much EVERYTHING, then pay the balance at the end of the month. I'm raking up tons of Skymiles.

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    Originally posted by I Are Baboon
    What do you mean? I do the same thing he does. I throw down my American Express card for pretty much EVERYTHING, then pay the balance at the end of the month. I'm raking up tons of Skymiles.
    K.

    answer the dang question then...
    I pedal... Therefore I am.

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    Originally posted by Tboy
    Debt free, cept a house note and a car note. It took us about 3 yrs to pay all the cards and stuff off.

    Prince, Whats the benefit in doing what you do? Why not just pay as you go?

    I'm not who you directed the question to, but I will take a shot:
    1. better record of expenditures
    2. better security, any fraud from a purchase happens on my card, not in my bank account where the money is GONE while I straighten out.
    3. Frequent Flier miles, don't laugh, I just flew to Hawaii in first class off of miles

    I am sure I can think of more. Now, stores use check services so that the fees to them are the same...so they don't really care.

    Debit cards...completely different story..worst of both worlds in my opinion.

    Pepper

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