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CC Debt?

Blieb

Blieb

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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!
 
<------- Credit debt free since '00.
 
we pay our CC every 2 weeks :thumb:
 
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?
 
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?
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you're kidding right?

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

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.
 
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.
 
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.
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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.
 
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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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.
 
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?:scratch:
 
Originally posted by Tboy
Prince, Whats the benefit in doing what you do? Why not just pay as you go?:scratch:
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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. :)
 
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. :)
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K.:tomato:

answer the dang question then...
 
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?:scratch:
Click to expand...


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
 
Originally posted by Seahawks51
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
Click to expand...

We use a check/visa card for most everything. Whats the differance? You still get the records and the protection... you just pay as you go.
 
Originally posted by Tboy
K.:tomato:

answer the dang question then...
Click to expand...


:lol:

You mean why not just pay cash? I don't like carrying cash. Credit cards are easier. I even have my number memorized, which makes online shopping a breeze. :)


Seahawk, I just reached enough miles for first class airfare to Hawaii! Me and the wife are going in the Spring of 2004 (we went in 2001 as well, but flew coach). :)
 
A good reason to use a cc? Free air fares, money off trips, free hotel stays, etc. I have got a lot of rewards from my cards. I flew to Maui in December and am flying to Jamaica using air miles. I charge everything, groceries, gas, you name it. I keep track of it on a daily basis and pay it off every 2 weeks.
 
Using a credit card is easier and safer.

I am protected with every purchase.

As far as major purchases, even better on credit cause you get things like 24 months no interest financing, which is how I bought my wide screen TV! :)

I keep track of what's charged on credit online.
 
Originally posted by Tboy
We use a check/visa card for most everything. Whats the differance? You still get the records and the protection... you just pay as you go.
Click to expand...


My problem with debit cards is that if someone gets your number, the funds are out of your account until it is straightened out. With a regular CC, I still have my money during this process.

Huge difference! What if someone gets your Debt/Visa number two days before you house payment or tax payment clears?

Sure you'll be made whole in the long run, but in the short run you could be screwed.
 
IML Gear Cream!
Originally posted by I Are Baboon
:lol:

You mean why not just pay cash? I don't like carrying cash. Credit cards are easier. I even have my number memorized, which makes online shopping a breeze. :)


Seahawk, I just reached enough miles for first class airfare to Hawaii! Me and the wife are going in the Spring of 2004 (we went in 2001 as well, but flew coach). :)
Click to expand...

Which island? Wife and I went to Kauai. Kauai is much less developed and more laid back. For example, the hotel bar closed at 8 pm:yell:
 
Originally posted by Seahawks51
Which island? Wife and I went to Kauai. Kauai is much less developed and more laid back. For example, the hotel bar closed at 8 pm:yell:
Click to expand...

We spent 6 days on Maui, 5 on Kauai, and 2 on Oahu. I like the laid back atmosphere of Kauai, but yeah, everything closes early. Maui is more developed and touristy, but there is always something open and something to do. On Oahu, Honolulu is just another city and I don't need to go back there.
 
Originally posted by Rob_NC
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.
Click to expand...

www.yourcreditcardcompany.com

check it like you check your e-mail.
 
Originally posted by I Are Baboon
:lol:

I even have my number memorized, which makes online shopping a breeze. :)
Click to expand...

I scared the shite out of myself the first time I did it by heart without thinking about it!!!

Maybe I was ordering things in my sleep ... yeah, that's the ticket ...
 
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