Credit Card Debt?

[DonnieF]

ZERO debt here 2 , i am fortunate enough that i was able to pay off all my credit cards and then i cut them up. If you cant afford it cash , then save up for it and buy it ... you never get ahead robbing peter to pay paul. Credit cards are the devil LOL

 

[ToyKraz]

Wouldn't call it debt. However, it is the only place I can hide the bike accessory purchases from my wife. I have that bill sent directly to my office.

 

[Moparict]

Two divorces have taught me the meaning of money management. No credit cards are allowed in my house!! I'm not bragging, poor people just wait longer and pay cash!!

 

[dadofthree]

How do these old polls keep popping up.

 

[justtight]

Debt=too much
Income=not enuf

 

[fstbusa]

update on mine!! all paid off.... rock on!

 

[Narcissus]

(dadofthree @ Feb. 03 2007,20:51) How do these old polls keep popping up.

I think people are clicking on the '>>' button on the forum list thinking it goes to the next page, rather than the last. Voting on a poll, of course, bumps it to the top.


No harm though, I guess. I'm sure these will just die off until they get resurrected another two years from now.

 

[JusPlaynBob]

Used my MC for a downpayment on a house.
Mortgage was a 12 month term.
Paid min.s and then remortgaged at the end of the term.

Then a duplex.
And another, and another....etc.
Hopefully a couple million in property and a floating $10,000 card, for claimable expenses.
The return on real estate investmentsis grows much quicker than most other investment money.
Don't get greedy and you can have a bit to retire on.

 

[Commuta_Busa]

I'm shocked that there are some with Credit Card debt of ($50,000.00) or more. We're talking strictly charges on a credit card right??? I have to say, if I were a bank, I would be in luv with you. All of the compounded interest would be what dreams are made of. Unless your salary is .3m a year if not more, I don't understand how you support this kind of thing.

I don't mean to offend or belittle anyone I'm just honestly shocked.

 

[dre]

Zero CC Debt. My only debt is a Mortgage and it'll be paid off in Aug 2013.

 

[dre]

we spend 4000 to 6000 a month and pay it off every month<br><br>...and my limit is creeping up slowly but surely.<br><br>started with 5k 6yrs ago now it's 40k.<br><br>Should I tell then to lower it since I don't need 40k or keep it in case of emergency?

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I know lots of people will keep a CC with a high limit just for an emergency too. But, I use a Money Market account as an emergency fund. It draws 4.81% interest and is not debt. Once you build it up to 3 to 6 months of your salary, it'll take care of any emergency and pay you when they don't happen.