how much credit card debt do you have?

Discussion in 'Community Discussion' started by shecky, Nov 1, 2008.

?

how much credit card debt do you have? (US$)

  1. $0 - none!

    91 vote(s)
    68.4%
  2. $1 - $500

    13 vote(s)
    9.8%
  3. $501 - $2500

    9 vote(s)
    6.8%
  4. $2501 - $5000

    2 vote(s)
    1.5%
  5. $5001 - $7500

    6 vote(s)
    4.5%
  6. $7501 - $10,000

    2 vote(s)
    1.5%
  7. $10,001 - $15,000

    4 vote(s)
    3.0%
  8. $15,001 - $20,000

    2 vote(s)
    1.5%
  9. more than $20,000

    4 vote(s)
    3.0%
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  1. shecky Guest

    shecky

    Joined:
    May 24, 2003
    Location:
    Obviously you're not a golfer.
    #1
    i am very happy with myself - i have finally paid all of my credit cards off and now carry a $0 balance for the first time in about 15 years. i had been carrying between $6,000 - $10,000 for a number of years and it makes me physically ill to think how much i have spent in interest payments on that (especially as i had very high interest rates as well).

    i am curious how much debt you have on your cards? (no student loans, mortgages, etc.. just credit cards.)
     
  2. iJohnHenry macrumors P6

    iJohnHenry

    Joined:
    Mar 22, 2008
    Location:
    On tenterhooks
    #2
    Due to my age, and wisdom ;), I am a-typical.

    I owe nothing, to anyone, at all.

    And I love it. :cool:
     
  3. Saikou macrumors 6502

    Saikou

    Joined:
    Aug 15, 2007
    Location:
    NE
    #3
    Wow, congrats man! That's great! Truly a feat to pay all of that off and have it off your shoulders. I'm sitting at 0% and hope to keep it that way.
     
  4. toolbox macrumors 68020

    toolbox

    Joined:
    Oct 6, 2007
    Location:
    Australia (WA)
    #4
    Yep my credit card is at 0 dollars, i have a 2000 dollar limit on it, how ever i was late with my payment the other day, wacked with a 25 dollar fee meh
     
  5. dukebound85 macrumors P6

    dukebound85

    Joined:
    Jul 17, 2005
    Location:
    5045 feet above sea level
    #5
    $0 on credit cards

    I do have about $15K in school loans though. Just graduated last May and have a job lined up so not too worried about that either

    My car is all payed for too which is nice....granted its 19 years old but still awesome lol
     
  6. smt1192 macrumors regular

    Joined:
    Jul 2, 2007
  7. thechidz macrumors 68000

    thechidz

    Joined:
    Jul 25, 2007
    Location:
    New York City
    #7
    happy to say I can claim zero. lets not talk about student loans though:rolleyes:
     
  8. shecky thread starter Guest

    shecky

    Joined:
    May 24, 2003
    Location:
    Obviously you're not a golfer.
    #8

    yes, lol. lets not indeed. :) i am in the 6-figure segment of that particular club.
     
  9. yg17 macrumors G5

    yg17

    Joined:
    Aug 1, 2004
    Location:
    St. Louis, MO
    #9

    Ditto. Student loans are close to 100k, but zero credit card debt. Only time I ever carried a balance across billing periods was when I was out of town and forgot to pay it. Paid it a day later and got slapped with a lovely $40 fee.
     
  10. dukebound85 macrumors P6

    dukebound85

    Joined:
    Jul 17, 2005
    Location:
    5045 feet above sea level
    #10
    ok quick question, those with like six figure student loan fees, how in the world can you afford the monthly payments? mine ar 180/month starting next month on only 15k principle. your guy's must be near 1k/month or more! yikes:eek:
     
  11. pianoman181 macrumors regular

    Joined:
    Jan 6, 2004
    #11
    So... I'm going to Rensselaer Polytechnic Institute. Tuition this year is a mere $50800. I get somewhere around $22000/year in academic scholarships. The rest are private and government loans in my name. Go ahead and do the math on this one.
     
  12. synth3tik macrumors 68040

    synth3tik

    Joined:
    Oct 11, 2006
    Location:
    Minneapolis, MN
    #12
    I highly doubt that 85% of people have no credit card debt.

    I moved around a lot when I was younger and never got any credit card applications until I was 22, by that time I had already got the credit through Apple to buy my computer and saw how much credit cards suck. I paid it off as soon as I was able to and never bothered to look at a single offer after that.

    If I can't afford it at the time of purchase I just don't buy it.
     
  13. yg17 macrumors G5

    yg17

    Joined:
    Aug 1, 2004
    Location:
    St. Louis, MO
    #13
    Yup. That's why I live at home right now with my parents. Free rent. I'll get a place of my own once I get a raise. I just graduated back in May and got a job in June so it will be awhile.
     
  14. aethelbert macrumors 601

    Joined:
    Jun 1, 2007
    Location:
    Chicago, IL, USA
    #14
    I'm in debt for whatever I owe this month, which is probably less than a hundred bucks. Once the statement comes, I'll pay it and be free of debt until I use it again.
     
  15. Name101 macrumors member

    Joined:
    Oct 19, 2008
    #15
    $12.87 AUD

    I ran out of fuel on my motorbike and I had no cash. :p

    ill pay it on Friday :D

    but that does put me in the $1-$500 debt :(
     
  16. seattle macrumors 6502

    Joined:
    May 15, 2007
    #16
    Congrats Shecky. I have been debt free (Except mortgage) for many years and live well below my means.
     
  17. EricNau Moderator emeritus

    EricNau

    Joined:
    Apr 27, 2005
    Location:
    San Francisco, CA
  18. D.T. macrumors 603

    D.T.

    Joined:
    Sep 15, 2011
    Location:
    Vilano Beach, FL
    #18
    That's an astounding percentage of folks without CC debt - of that ~72%, I wonder how many don't actually have any CCs, and also the ages in that segment.

    Outstanding. Assuming that means no car loans, no mortgage, no revolving credit of any sort?
     
  19. Muscle Master macrumors 6502a

    Muscle Master

    Joined:
    Oct 15, 2010
    Location:
    Philadelphia
    #19
    I had one 3 years ago with a $5000 limit which I defaulted on, lost my job and had a bad year of unemployment... I had to survive somehow. I even have a repo

    Now that type of debt... Its like a noose around your neck... Plan to file bankruptcy the in the beginning of next year
     
  20. macquariumguy macrumors 6502a

    Joined:
    Jan 7, 2002
    Location:
    Sarasota FL
    #20
    We paid our house off last year so we were in the same boat for a while. We recently took on some debt for a car, though. The loan was crazy cheap at less than 1%. I can't remember the last time we carried a balance on a credit card.
     
  21. ejb190 macrumors 65816

    ejb190

    #21
    I have a credit card that gets used a time or two a year for hotels and travel and paid off right away. I will use a credit card to protect my bank accounts from exposure from using my debit card. But I never use a card to buy something that I couldn't pay cash for.

    I used to have a second card, but I had fraudulent charges and they reissued the card. Then i had more fraudulent charges before I even activated the new card. So I canceled the sucker. If their security was that bad, it wasn't worth the headaches.
     
  22. Plutonius macrumors 603

    Plutonius

    Joined:
    Feb 22, 2003
    Location:
    New Hampshire
    #22
    Nope. anyone who uses credit card gets some debt accrued during the month.

    I believe the OP wants to know how much debt you are carrying over month to month.
     
  23. A.Goldberg macrumors 68000

    A.Goldberg

    Joined:
    Jan 31, 2015
    Location:
    Boston
    #23
    No credit card debt. No car payments. And extremely fortunate enough not to have incurred student loans.

    Depending if and where I decide to settle down, I'm thinking in the next year or two to look into purchasing property. No sense in throwing away money on a leased apartment, right?
     
  24. takao macrumors 68040

    takao

    Joined:
    Dec 25, 2003
    Location:
    Dornbirn (Austria)
    #24
    it's important to keep the amount international members in mind.Not only does card ownership differ a lot between countries but also the way credit cards "work":
    For example in Austria all Master/Visa cards issued are automatically paid through your giro/banking account at the end of the Month, with no ability to roll it over. Unless you individually apply to pay it in rates and change the setting, which is approved by the Bank after checking your score again etc.
    Most of those short term/credit thus piles up in the so called "Dispocredit" when you pull your giro/bank account account deep into the red. Thus credit cards usually are all 100% in the green despite the owner actually being stuck with high interest.
    (Technically those Credit cards thus are more like glorifiy bank cards suitable for internetshopping and travel... because of that it's extremly difficult to find free credit cards.. usually the yearly fee is 20 euro+)

    Also if i didn't want to travel much(car rentals,flights,hotels) or order from UK internet shops i wouldn't have ordered one myself either. You can get through life without one easily, it's usually just US based internet/service companies which just can't fathom that fact (apple store, netflix for example)
     
  25. roadbloc macrumors G3

    roadbloc

    Joined:
    Aug 24, 2009
    Location:
    UK
    #25
    I don't do credit cards. (Actually, I don't know anyone who does to be honest.)
     
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