Credit card debt?

[HennysMom]

Yes we have had a credit card... and I just paid it off in full

-

no more debt for us except the house

 

[gapeachy]

Quote:
Glad to hear they are normal people on here....average americans have high credit card debt....I think the average credit card debt for families are 20,000.....thank God mine are not that high

 

[ksacres]

We have two Visa cards and a few store cards. The only one we use is the rewards card. I pay the balance off at least every other month. I have to say, that card has taken us through some rough times.

 

[TXmom]

We only have 1 small credit card...$200 balance right now. It's almost paid off.

Besides that, we only owe on the mortgage. We paid off my car last month and it completely died this month, so now we are trying to figure out what to do about a new car...finance a decent used car, or try to pull together some cash for a cheap used car. I think we'll go that route, but might need help from parents, and then pay them back quickly.

 

[mmtillman]

Have one card now. Discover....only use for big items or emergencies ...pay if off at end of each month.....

Had carried a JCPenny card in my purse for over 30 years....Never used it !! Finally last year , I cut it up

...That must be the ''self-disipline my MOM and Daddy taught me ??

Hubby and I paid off the house by doubling up on payments when the jobs and economy were good ...Who knew??

Glad we did!!

 

[rebelcowboysnb]

I only have a check card.

Ive never had credit cards. I own my home an farm to. Pretty good for someone that only makes $600 a month.

I do barrow money for auto purposes. As a rule I never pay more for a car or truck than I could pay cash for it. The magic number seems to stay around $1500. I barrow the money on a year note just for credit history. That's how my Grandfather did it an that's how me an my brother do it. The bank knows us well an we never have a problem getting what we need.

Matter of fact I just bought a (new to me) truck yesterday. First time the bank has seen me sence 2007.

My 91 chevy has lasted me 8 years on just tires gas an oil an is still going strong even tho I abuse the mess out of it. An its still worth what I payed for it. No need to have the latest thing on the market.

 

[toletiquesbysam]

Have credit cards, and we pay them off in full each month.

 

[Chirpy]

So, after all these answers I am certainly seeing a common denominator among BYCers. By far the people who have answered here either have no credit cards or pay them off regularly. I realize this is a very limited number of people replying and that there's nothing scientific about this little poll. But, it's what I expected to hear from chicken people. I think chicken people are just smarter!

It just seems that most people who have animals or gardens to try and be more self sufficient also have a higher understanding of living within their means.

And, as stated numerous times above, those of us who don't have the debt are penalized by the system. I have a very good friend who has two sons in college. They own their house and have zero debt - they don't use credit cards either. When it was time for their boys to go to college they found out that they couldn't get financial help because they have been so wise in their money management. They don't make enough to pay for their boys college education but make too much and don't have the credit score to show that they can get any help. There's just something wrong with a system that requires you to carry debt to participate.
My statements are in no way negative toward those who have debt. Just a general lump conclusion. By the way, we actually had high credit card debt until last year when we were able to pay it off with our tax refund and then cut up our one credit card. That debt was accumulated when my husband wasn't making enough money to buy groceries and put gas in the car... thus, we put in on the card. Never again.

Ok, off my little sidenotes and back to the current survey at hand.

 

[herechickchick]

WOW I am so happy to see so many people with no CC debt and that most people pay them off in full when they use them. This is my goal, I have 3 CC with a total of about $8,000 on them. I am working hard and should have them paid off by the end of the year. I have a very good credit score. I just got in the habit of getting what I wanted and now I am paying for it. It has been a real eye opener operating on a cash only system the past few months but I feel better about my purchases and I do not feel as frivolous as I once was. I guess as I get older things like Louis Vuitton luggage is just not that important to me anymore, but I do still love my suitcases.

 

[HarlansHollowFarms]

It is sad that we relay so heavly of debt to establish credit to go in to debt....vicious circle.

We have one credit card which a $ 0 balance. It is almost impossible to rent a car on holiday if you do not have a major cc, this is what we use ours for....I really do not see why your bank debt card, that is back by visa/mc, is not good enough for most major car rental agencies, dosn't make much sense.