how much credit card debt do you have?

[mongo]

i know it's a personal question, but fuck it. i'm curious.

[Mustard]

IBTP sucka

[Archetype]

ibtp

[Mustard]

Ha! IBTP fails

[Mr. Brown]

$320, and that's only b/c I just made some purchases in the last few days.

[Datači]

What do you mean? You usually steal?

[Yelram]

My Discover bill is usually like 900 a month, but it gets paid off every month, so I dont think that counts.

[Mr. Brown]

What do you mean? You usually steal?
I don't use my credit card much, I'm a cash man like Rusty Ryan (was just watchin Oceans 11)

[NOTKyle]

I don't plan on ever owning a credit card.

[fuldstændigamok]

What is this debt thing you speak about?

[ShitBreak]

Credit debit is for losers. College debt is where it's at.

I don't even own a credit card. No need for one, yet.

[Limp]

All I owe on is our 2008 Pilot and our house.

Fuck debt.

[zero]

About $500 total but I also have my car payments

[Satan]

Anywhere from 100 to 2000, but its always paid off at the end of the month. So, none.

[Fuh Q]

None. And I'll never get a credit card, once you get one, you're fucked. Either you are perpetually in debt, or you pay it off eventually but of course with the interest you pay back far more than you spent. If you can afford to regularly pay your credit card bills, then you don't need a credit card, just manage your money better. I guess for emergencies it could be quite useful, but that's why I have savings.

[eleveneighteen]

Anywhere from 100 to 2000, but its always paid off at the end of the month. So, none.

That's the way to do it.

The card makes it easier for travel and online purchases. The key is always pay it off - spend as if you were spending ca$h.

[Satan]

The only time I don't pay it off is if I need to make a single major purchase (3000+) and I don't have the means to pay it in one month, but even then I pay it down within another month or two.

[BIG PIZZLE]

It's actually good to carry a little credit card debt. As long as you make your payments. It shows that your are credit worthy. I usually pay off half of my balance at a time. Any idiot who says "I'll never get a credit card!!" will never qualify for a car loan or a home loan. You need a credit history or else nobody is going to trust you with their money.

[Yelram]

It's actually good to carry a little credit card debt. As long as you make your payments. It shows that your are credit worthy. I usually pay off half of my balance at a time. Any idiot who says "I'll never get a credit card!!" will never qualify for a car loan or a home loan. You need a credit history or else nobody is going to trust you with their money.

Half the balance at a time? How do you ever pay it off? Sounds like zeno's paradox. I have used CCs for about 8 years now, and never occurred a dime of interest. Actually my discover gives me 1% cash back, so I basically get 120 bucks a year for having the convenience of a credit card, and building my credit.

[ShitBreak]

If one was to get their first credit card, which means would be best...sign up for a regular one, or sign up for one through your bank?

[BIG PIZZLE]

Once it gets down to a few hundred, I just pay it off. I try and do it in about 3 or 4 payments. The only things I really charge are online purchases. Everything else is on my debit card. I have 4 cards that I rotate. At one point I had 7 cards, most of them had 0 balance but it was a pain in the ass to coordinate payments every month. So now I just rock one a month.

[BIG PIZZLE]

If one was to get their first credit card, which means would be best...sign up for a regular one, or sign up for one through your bank?

I dont think it matters, just get one with a low rate from a decent company. Card companies determine what rate you qualify for partially by looking at what rates you currently have. My first credit card was a Macy's card with a $500 limit.

[ShitBreak]

So my first card should be from a company, instead of like a "Visa Platinum" or something like that?

Maybe I should apply for a Best Buy or Wal-Mart card.

[BIG PIZZLE]

No dumbass. A decent credit card company... but you may not qualify. Retail stores issue cards to just about anyone so it's easier to qualify. If you can get one from a reputable credit card company, I would. http://www.bankrate.com/credit-cards.aspx

[Fuh Q]

It's actually good to carry a little credit card debt. As long as you make your payments. It shows that your are credit worthy. I usually pay off half of my balance at a time. Any idiot who says "I'll never get a credit card!!" will never qualify for a car loan or a home loan. You need a credit history or else nobody is going to trust you with their money.

I know what you mean, I had trouble getting a contract for my fucking phone because I didn't have a credit history. But then I applied for an overdraft on my bank account, and my bank accepted (this was before the recession and all this bank crisis crap), now everything is good. So you don't need a credit card.

[ShitBreak]

Plus, can't you get a good credit by paying loans back on time, like my student loans?

[BIG PIZZLE]

I know what you mean, I had trouble getting a contract for my fucking phone because I didn't have a credit history. But then I applied for an overdraft on my bank account, and my bank accepted (this was before the recession and all this bank crisis crap), now everything is good. So you don't need a credit card.

When you become a big boy, let me know what kind of rate you get on a car loan.

[NOTKyle]

It's actually good to carry a little credit card debt. As long as you make your payments. It shows that your are credit worthy. I usually pay off half of my balance at a time. Any idiot who says "I'll never get a credit card!!" will never qualify for a car loan or a home loan. You need a credit history or else nobody is going to trust you with their money.

I'm pretty sure that me paying off about $40k in debt will count as credit history.

[Yelram]

Plus, can't you get a good credit by paying loans back on time, like my student loans?

That will give you a base, but its good to have a few more things there. Just be careful, if you dont have decent credit, they'll give you some ridiculous rate, just make sure you pay them off.

[BIG PIZZLE]

I'm pretty sure that me paying off about $40k in debt will count as credit history.

I think payment only counts toward 1/3 of your credit rating. You must respect the credit card, not fear it.

[BIG PIZZLE]

As far as I can tell, this is pretty accurate.

http://www.bankrate.com/brm/fico/calc.asp

[Pharon]

It's actually good to carry a little credit card debt. As long as you make your payments. It shows that your are credit worthy. I usually pay off half of my balance at a time. Any idiot who says "I'll never get a credit card!!" will never qualify for a car loan or a home loan. You need a credit history or else nobody is going to trust you with their money.
What the fuck are you talking about? Carrying revolving debt actually lowers your credit score, it doesn't raise it. Your score is determined by the ratio of debt to credit -- the more debt you have showing, especially if it's in multiple accounts, the lower your score will be.

I pay my balance off every month, but a credit report will still show revolving credit unless I didn't charge anything between the time I paid my balance and the time I generated the report. But again, it's about the ratio.

At least that's my understanding based on what the report says -- if you've got some reputable source that shows carrying debt is actually good for your credit score, then let's see it.

[BIG PIZZLE]

Maintaing a balance is OK as long as you make payments. Of course it's better to pay everything off at once but carrying a balance on a credit card while making payments is better than having no cards at all. Also, go to the link I posted just above you and fiddle around with it. Try doing answering the questions with credit card debt and try answering the questions without. Your score is determined by all kinds of stuff, not just your debt ratio.

[Pharon]

Of course it's better to pay everything off at once but carrying a balance on a credit card while making payments is better than having no cards at all.
Oh, I agree with this. I thought you were saying it was better to carry a balance than pay it off every month. My bad.

People who don't own credit cards are fucking retards. I don't know what I'd do without one -- cash? write checks? Fuck that. Paying with credit cards is way simpler. Just be smart and don't live above your means. That's all.

[Draven X 23]

I think my wife and I sit at about $7,500 in CC debt. We misread the economy when we bought our house. We planned on refinancing about now to get rid of the debt we got due to missing some pay due to surgery and major appliances going up.

[ShitBreak]

My FICO estimated score is between 695 and 745.

Is that good or bad?

[Pharon]

To get the best rates on loans, you generally need a FICO score 720 or higher.

[Limp]

Last I saw I was an 821.

[Limp]

People who don't own credit cards are fucking retards. I don't know what I'd do without one -- cash? write checks? Fuck that. Paying with credit cards is way simpler. Just be smart and don't live above your means. That's all.
I have a couple but couldn't tell you the last time I used it... 2007?

I use Cash/Debit Card for everything.

[Pharon]

Last I saw I was an 821.
Mine is 822.

You suck.

[Limp]

Mine is 822.

You suck.
It's been over a year, I bet it's 823 by now!

Credit Applicati0wNeD!!!!!

[Yelram]

I think my wife and I sit at about $7,500 in CC debt. We misread the economy when we bought our house. We planned on refinancing about now to get rid of the debt we got due to missing some pay due to surgery and major appliances going up.
You put your down payment on a CC?


The other thing thats bad, is ADDING too many CC accounts. They will actually dock you points for openings a CC account. They will dock you points for having credit agencies LOOK UP YOUR CREDIT SCORE. This is one of the biggest problems for getting a loan. You cant shop around.

[Mustard]

My score is between 2 and 3.

[Will-Kill]

My Credit Score is 826 while on another site its 784 depending on what scale you read..

[Rumpleforeskin]

I have a shit ton. However, it is mostly from paying tuition. I did a lot of research and found out that the interest rate on my card is far lower than any loans I could get. In fact, it will all be paid off by 2010 whereas my girlfriend is going to be paying off her student loans until she's sixty.

[Hoser]

How did you get a CC with a lower interest rate then a loan?

[Hoser]

The other thing thats bad, is ADDING too many CC accounts. They will actually dock you points for openings a CC account. They will dock you points for having credit agencies LOOK UP YOUR CREDIT SCORE. This is one of the biggest problems for getting a loan. You cant shop around.

This is not true in all countries.

[Rumpleforeskin]

How did you get a CC with a lower interest rate then a loan?


I've had the credit card for a long time, so I negotiated a fixed interest rate, whereas Fannie Mae and that shit have adjustable rates. I think my girlfriend's interest rate with Fannie Mae is like 12%. Fuck that.

[dayx]

i don't have

[Mustard]

...brains, or the ability to pleasure women.

[Hosaka]

For the first time in over a decade, I am completely debt free.

Go me.

[Le Goat]

I have none but since I got my Gold AmEx I think imma rape some shit with it.


I always pay it off so that's not real debt

[hatepoppy]

ive still got almost 2 grand lingering from college shits. down from 10 in 2 yrs tho.