Poll of the Day > Credit card owners: any debt?

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pedro45
03/20/23 4:32:04 PM
#1:


Do you have any debt on your credit card(s)?




Truly a curiosity question, so kinda interpret how you like.
do any of you card holders currently have debt on your card?
I never do except for the couple days i don't check it, but then i pay it all off.
Some people like to carry a balance, some people hate all debt, some people are stuck in debt, etc.

If you usually pay it, but sometimes don't or sometimes leave things for next month, that's where sometimes comes in and rarely is if maybe you put debt on there for like just holidays or a summer vacation or something.

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adjl
03/20/23 4:47:06 PM
#2:


I zero out my balance every month so I never pay interest, but I usually wait until the last minute (or at least, my last paycheque before the payment deadline). Ideally, I'd pay it off immediately (or near-immediately), but my bank charges a service fee if my chequing account drops below $3k, and I'm not quite at a point where I can maintain that consistently in the face of more immediate expenses if I pay my cards off right away, so I put off paying the cards to save myself the $11/month.

I also have a line of credit that I never use with a much lower interest rate than my cards (like 4% vs 25%), so if I do ever get into the position of needing to carry a balance long enough to face interest charges, I'll transfer the card balance there so it generates less.

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Yellow
03/20/23 4:51:08 PM
#3:


I moved to a new apartment so I put on $3000 in debt. Should be able to pay it off in 3 months. Usually I just buy everything through a cc and pay it off asap so I get the cash back and no interest.

I'm holding off on buying furniture and picking up extra days until then.
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MeatiestMeatus
03/20/23 4:54:34 PM
#4:


I bought a PS5 like a month ago on my CC and only paid off half of it so I think I got a couple hundred left in balance

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captpackrat
03/20/23 4:57:10 PM
#5:


If you mean carry a balance, no. I also pay off my credit card compulsively throughout the month. My statement balance last month was about $50, even though I spent almost $5000 on my credit card.

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wpot
03/20/23 5:01:31 PM
#6:


Paid off every month. Thank-you to everyone else for giving them money so I can get 2% cash back. :)

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josh
03/20/23 6:20:36 PM
#7:


I pay it off every month, but I also have an low limit. I only use it to maximize cash in my offset (which admittedly isn't much more anyway)

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Clench281
03/20/23 6:33:11 PM
#8:


other than the balance that gets paid off every month from treating it like a debit card, I'm currently debt free

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Clench281
03/20/23 6:34:25 PM
#9:


captpackrat posted...
even though I spent almost $5000 on my credit card.

how can one even spend $5000 on a credit card in one month

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captpackrat
03/20/23 7:17:43 PM
#10:


Clench281 posted...
how can one even spend $5000 on a credit card in one month
Car repairs made up the biggest chunk by far.

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KJ_StErOiDs
03/20/23 7:35:56 PM
#11:


Technically yes, since I have a balance owed on my credit card. But I pay it off every month.

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Clench281
03/20/23 7:43:31 PM
#12:


captpackrat posted...
Car repairs made up the biggest chunk by far.

thank God I don't have a car

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ReturnOfFa
03/20/23 7:58:08 PM
#13:


Had about $11,000 on the credit card back in April, about to pay the last $7,000 off in the next week.

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wpot
03/20/23 8:13:40 PM
#14:


I usually have a fairly large credit card bill, mostly because I own a full season of (very good) MLB season tickets that I put on the card. I only keep three games per year (and sell the rest to ticket partners) one of which is more or less free because of the credit card cash back.

It works well so long as everyone pays on time...

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teddy241
03/21/23 1:28:33 AM
#15:


Zero debt but my retirement isnt up to par yet. At 40 i should i have 3x my annual salary saved up. Im 38 now with only about 50k saved in retirement. Im contributing max for the 401k and ira this year in hopes of catching up
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Cacciato
03/21/23 1:33:15 AM
#16:


teddy241 posted...
Zero debt but my retirement isnt up to par yet. At 40 i should i have 3x my annual salary saved up. Im 38 now with only about 50k saved in retirement. Im contributing max for the 401k and ira this year in hopes of catching up
Holy shit
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pionear
03/21/23 8:53:15 AM
#17:


About $2500

Why are you gonna pay it off for me?
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Dikitain
03/21/23 9:26:16 AM
#18:


My only "debt" is the $3000 left on my mortgage. That is getting payed off in the next few months. I pay off my credit card every month.

teddy241 posted...
Zero debt but my retirement isnt up to par yet. At 40 i should i have 3x my annual salary saved up. Im 38 now with only about 50k saved in retirement. Im contributing max for the 401k and ira this year in hopes of catching up

I am lagging behind too, but not nearly that much. I have about $350K in mine, should be up around $400K - $500K.

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fettster777
03/21/23 2:40:31 PM
#19:


I pay it off every month using the paycheck in the middle of month and then use the other to pay mortgage.
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ParanoidObsessive
03/21/23 3:35:45 PM
#20:


I pay my full debt each month. Mainly because I go out of my way to never use my card for anything unless I know I have cash in my account to pay for it. I don't use the card for credit as much as I do for ease of transfer and for the greater degree of theft and fraud security.

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teddy241
03/21/23 9:30:52 PM
#21:


Dikitain posted...
My only "debt" is the $3000 left on my mortgage. That is getting payed off in the next few months. I pay off my credit card every month.

I am lagging behind too, but not nearly that much. I have about $350K in mine, should be up around $400K - $500K.
Damn you're in control of your own life. I seen a guy walk off from our company announcing his retirement. Said he'll never have to work again and is a free man now. We all stood and stared at him as he walked off into the parking lot drove off and never saw him again
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grimhilde00
03/22/23 6:36:24 AM
#22:


I had $10k in debt that I just paid off

most of my assets are in stock, and a lot of from an IPO that I couldn't sell until after the stock market crashed last year bringing it down to 30% the original price (which I paid taxes on..)

moving cost between $30k-40k all in all (flights, Airbnb for two months finding a flat, shipping stuff over, shipping cat over, furnishing an apartment from scratch, 11k cash upfront for 6 months rent and deposit since no UK credit or guarantor)

so yeah put a decent amount on my card and I wanted to rebuild my cash savings since I'm paranoid about having that available. So while maybe it would have been wiser to pay off more (I mean I did some just could have done more) cause interest but mentally I feel better with a good chunk of cash. ah well

last week, or week before, my IPO stock got back to the original IPO price so I sold some of that to reinvest and pay off the credit debt

it had been rising a lot and the quarterly reports were good so I expected that to go up soon. otherwise I'd start just paying off cash after hitting the amount of cash savings I wanted

the amount of interest I've paid the past couple months is much less than what the stock price difference would have been if I sold earlier so eh think it worked out

back to no debt now

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Jasna88
03/25/23 1:31:15 PM
#23:


no ofc not, never

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ultra_magnus13
03/25/23 9:59:42 PM
#24:


I use my credit card for everything, but my credit card has been set to auto pay off every month from my bank account since I got it as a teen.

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Muscles
03/25/23 10:03:33 PM
#25:


I used to be in debt in my early 20s. My aunt, who co-signed for me, paid it off and told me not to get it that bad again, which I haven't done. I haven't had more than like 40-50 on a credit card in years, most of that time never using it.

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greenjeans
03/25/23 10:36:42 PM
#26:


Clench281 posted...
how can one even spend $5000 on a credit card in one month
Lol I put between 6k and 10k on it every month
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MightBeOverSoon
03/26/23 1:40:50 AM
#27:


Debt? Lol.
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Rasmoh
03/26/23 1:50:38 AM
#28:


Nope. Put bills on card, pay off before interest accrues. Rinse, repeat.

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Clench281
03/26/23 6:34:41 AM
#29:


greenjeans posted...
Lol I put between 6k and 10k on it every month
have you tried not doing that

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greenjeans
03/26/23 9:45:24 PM
#30:


Clench281 posted...
have you tried not doing that
But I needs stuff
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BlackScythe0
03/26/23 9:47:06 PM
#31:


I use a credit card for everything, more secure than debit, but I pay it off every month. Only debt I have currently is my car.
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BUMPED2002
03/26/23 10:06:15 PM
#32:


No I learned my CC experience the hard way during college and found out you cannot spend money that you actually do not have so I always make it a point to pay off any balance monthly but I rarely use CCs that much if I can avoid it.

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