How much do you owe CCs?

[wdwfan16]

We pay ours off each month.

I would take the $7500 + $500 from savings to pay of the card.

 

[WeLoveLilo05]

Thanks for your advice everyone! We'll probably end up putting $2000 into the savings and then the rest to the CC.
Maybe we could wait til the Spring to get a car

 

[scrapquitler]

We don't carry any credit card debt, we use them for almost everything we buy and pay it off at the end of the month.

If I were the OP, I'd use most of that income tax refund to pay down my credit card debt. I'd also work on adjusting my withholding to give me more money in each paycheck throughout the year (if possible) so that I could take that extra $$ every week and continue paying down the cc debt (rather than accruing interest all year and paying a lump sum at tax return time).

 

[wdwfan16]

Thanks for your advice everyone! We'll probably end up putting $2000 into the savings and then the rest to the CC.
Maybe we could wait til the Spring to get a car

You need to see a dentist, use some of the money to pay the dentist to start your work and put the rest on your CC.

 

[AshleyW]

We don't have any credit card debt. DF works in finance, and it drives him nuts to pay finance charges. We do use a few credit cards, they just get paid off as soon as we use them.

 

[wvjules]

You need to see a dentist, use some of the money to pay the dentist to start your work and put the rest on your CC.

 

[Piglet4Ever]

We also pay off our CC's every month. We have two that use. Right now we are trying to spend no more than $500 a month on CC's.

 

[PatriciaH]

$0. I use a debit card mostly.

 

[Cindy B]

0

 

[marcyinPA]

We have one card that we use, the Disney Visa, and we pay it off in full every month. (we actually use it like a debit card, so every charge is taken right out of our checkbook. No money, no purchase.)

I have a Kohl's card that I use, but pay off in full. I don't use it often.

Other than a mortgage and a car payment, that's all of our debt.

 

[Amy&Dan]

This is the DIS. No one has CC debt!

Ain't it the truth!

Yes and no...it is better to have a good mix of both, not necessarily debt, but history of managing debts/loans of each type. Neither is beneficial overall to your credit score.

I know that, I guess I was just thinking that since OP has established her revolving cc debt with this $8,000 balance cc, it was better to then get some secured debt going too. For some reason, I was thinking maybe she was young and didn't have a mortgage or secured debt.

The last two car loans I have had have been 2.9% and 3.9% repsectively. Which are both far less than any cc I have right now as far as interest even with a good credit rating and perfect payment history. I was thinking one way or the other, she's going to have some sort of balance and to have one with a lower interest rate would be better. Which is why I said to finance the car if the interest rate she could get was lower than the cc interest rate. At least I think that's what I said!

 

[Liberty Belle]

You need to see a dentist, use some of the money to pay the dentist to start your work and put the rest on your CC.

Are you psychic or did I miss something?

 

[wdwfan16]

Are you psychic or did I miss something?

http://www.disboards.com/showthread.php?t=2398648

 

[MrsPete]

Credit cards - zero
Mortgage - zero
Cars - zero
Other debt - zero

It wasn't easy when we were younger and did without many things, but now it's soooo worthwhile. Our entire paychecks are OURS.

I don't know whether $8000 in credit card debt is average, but it's not financially healthy.

 

[SaraJayne]

Other than a mortgage and a car payment, that's all of our debt.

Same here. We use CC's, but they are paid off at the time of use.

 

[Luv Bunnies]

No credit card debt here. We always pay it off each month. Our only debt is our mortgage but we if we sold some stock we could pay it in full. We feel fortunate to be in this position!

 

[Minnesota!]

Currently I owe about $700 due to some stuff that came up on our last trip. (bounceback and having to upgrade to business class from ATL - MCO so that my family could be guaranteed seats..).

But, Airtran is refunding that money and I will pay off the bounceback stuff this month, too

We went from having well over $20K in CC debt, plus a huge (and high interest) car loan, to having only mortgage, utilities, and the other mundane (gas, groceries, etc) stuff within the last year.

I cannot believe how much less stressful life is when I have some $$ left out of my paycheck!!!

 

[Kath2003]

Absolutely nothing; I don't put anything on there that I don't have the cash to pay off. I only tend to use it for huge purchases or whilst abroad, neither of which happen often. The advantage of not having much money is that you're not tempted to overspend

 

[brockash]

We always pay our credit cards off in full by the due date. We never carry a balance, because I'd really hate to pay more for something than I have to. As far as "normal," -I think the average American probably has some debt in cc's, but I'd really try not to unless you ABSOLUTELY have to.

 

[Barbossa]

I pay off our credit card bills every month. Maintaining a credit card balance at 20% interest is insanity.