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Rhindle The Red

Do you carry credit card debt?

Do you carry credit card debt?  

254 members have voted

  1. 1. Do you carry credit card debt?

    • Yes, quite a bit.
      40
    • Yes, but only a relatively small amount.
      38
    • Yes, but I pay it off regularly.
      11
    • No, I pay off my card(s) every month.
      103
    • No, I don't use any credit cards.
      62


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No credit cards anymore, everything is on a save and spend basis, excepting the house. Debit cards works for everything as long as you have a $500+ balance for car rentals and the like.

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I've never had a credit card. It has been inconvenient at times-less so since the invention of the debit card. I guess it's unusual, but I've been utterly debt free since 1986. I paid off a three thousand dollar car loan.

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Debit cards are nice, but I only use mine at "official" [my] bank-branded ATMs. That way, when some fraudster gets involved and screws the system, it's THE BANK'S MONEY, NOT MINE. Caveat: One must pay one's bills on time. Thankfully, I have a calendar.

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I think I've used an ATM once in the last ten years. I just got used to cash or swiping the pre paid plastic at the register. Using the card is getting more expensive, though, in the transaction fees.

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Got into real trouble when I was young, but learned my lesson, and have remained a 100% debt free adult for 40 years now.

 

I use a pre-paid "debit Visa" for shopping on line. Other than that, if I can't pay for it, I don't buy it (and my toy chest doesn't suffer....just takes a little longer to fill)

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I use a credit card with cash-back rewards, but I do not pay it off monthly.. I pay it daily. :lol: (or at the very least, once a week)

 

In other words it essentially becomes a "debit card with hassle". e.g. I buy gas for $50, and something at the store for $25. That night when I'm at home I make a payment of $75.. so I am constantly paying. To me it just works better for the money to actually leave my bank account as it's used, rather than one lump sum at the end. Just saying. :P

Edited by NE146

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I clear the slate each month. The interest percentage is just too high.

 

Quite a few cards only allow 26 days to get to it, instead of a full month.

 

It may sound boring, but the brochure that comes with it is pretty interesting. Lots of neat tidbits in there (both good and bad).

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