Do you have any credit card debt (older than this month's charges)?
I have around $900 and it's killing me! Paying it off slowly.
Most people are lying
There have been a lot of bankruptcies in the last few years. But I do agree with you. I don't believe it either.
39% of the people who voted said they do have CC debt; 47% if you don't count anyone under 21, many of whom don't have CCs. The people who write comments don't necessarily reflect the same percentages as those who vote.
Really?? Who's answering these questions? Because I keep reading about credit card debt and most of the answers here say people have none.
I do, sadly. Paying it all off as fast as I can.
College student with a credit and debit card. Make $ with summer internships and use that to fund college life. I spend within my means and have no debt. Plan on staying that way.
My single outstanding debt is the mortgage on my house. I own a small
Business, but it does not require large purchases so everything is paid for up front. I just don't like the mentality of credit, but that's me. My girlfriend has a few but she pays her monthly balances every time.
Do not posses a credit card, never have (and I'm 43). Only have a debit card.
Doesn't everyone? It's the American way! LoL
Am extremely sure that this is not true-most of the nation no credit card debt.Get real
...that's only 11% of all of us here, or (0.11/0.61) x 100 = 18% of the people who voted no, MAXIMUM, who could be liars. Hardly "most of them."
breck - I hope what whoami suggests resolves this. But even if it doesn't, you can't assume that the people voting on SOH are an exact cross-section of the US. Even if we WERE, there's only a 11% difference between they way we voted and the percent you've quoted. So even if that's all true...
I have no credit cards now and haven't had any since 1999. Paid all credit cards off in full, closed accounts and cut up the cards. The only thing I have with a Visa or MasterCard logo is a prepaid card that my pay checks direct deposits to.
Breck, with all due respect, you appear to be confused about the point of this question. Yes, at this moment, I have credit card debt of about $1000 or so. That is my current balance. But, I will pay it before it is due, as always. Tony asked if we have cc debt OLDER THAN THE CURRENT MONTH.
Home and auto loans aside, most American's have credit cards. While about half of us do a pretty good job of keeping our balances down, the other half carries at least a $1000 balance, with 10% of card holders carrying in excess of $10,000 on plastic alone.
Most of these people have to be liars. 50% of the the population have credit card debt in excess of $1000.
Never had a credit card!! No thank you!
You're giving me a headache. Honestly, I'm so sick of being called a liar all over this place that I'm likely to blow a gasket real soon now. I REALLY don't want YOU to be the one who gets hit with the flack.
I'm one of those whoami. In the 30+ years I've had at least two credit cards, I've carried a balance into the next month, and paid a finance charge, exactly once - when the alternative was to do without either a stove or refrigerator for a month. Instead, I bought both, and paid them off in two.
I'm still paying off credit card debt from when I was away at school, 4 years ago...I had no job, drove home ever weekend (gas) and charged all my food/supplies. Stupid idea to charge all that.
I worked at an amusement park and many people would just swipe their cards for several hundred dollars without thinking twice and I would have several denied cards every day. I was surprised by the results. I guess the users of this app are just really responsible with their money.
Little itty bitty cc debt compared to our massive student loan debts. :/
Please see my post two above this, with actual data from the Federal Reserve.
For those of you who are calling "liar" or BS:
"About a quarter have no credit cards, and an additional 30 percent or so pay off their balances every month. (Source: Federal Reserve Board survey of consumer finances, 2004)"
Just google "how many people pay off their credit card each month."
I'm sure it happens sometimes, but it's hardly the norm.
We've got something like 40k in debt, and not a dime of it is credit card, since we pay it off each month. It's a convenient, secure stand-in for cash you actually have. The idea that people treat credit like free cash is weird and something I've only ever seen in the media, never in person.
Most debt is tied up in loans like car loans, student loans, and mortgages. Not credit cards.
Those of you who don't, congratulations!! Keep it that way! Especially those of you under 21. It'll be one of the best things you ever do for yourself!
That's what I do! I am using them to build credit, so I can by my house from my parents and get a good rate.
Yes, you misunderstood me. I was sticking up for you because sunflower was being unkind. Sure, it's a relief to be out of debt, but the shame stays with you (me). "Beating himself up" is a figure of speech meaning to mentally berate yourself. Sorry you took it the wrong way.
Yup I call BS on all yall
I don't think you read the question carefully. I do have a balance, but NOT a balance outside of the current month. That was Tony's question.
My credit report would show a balance, even though I am going to pay it before the due date. I always pay the balance before the due date.
Yeah right, liars!
EarlyBird...one thing I do not like she called me "beating him up" sound like I am an abuse person or crazy person unless I am misunderstanding what she meant.
60% of the users of this app. Not a representative sample of the whole US.
starry - mrs was showing you kindness and understanding for your debt problems, and you call her names?!?
Not cool! ????????
60% don't have a cc balance? I'd say must if you are lying. I've seen thousands of credit reports and more than 60% have at least some kinda if credit card balance
MrsKinsey...no I do not feel like I am beating up myself. You are assume (you are ass out of you and me) of what I am talking about this situation. I felt much better with debt free since I filed the bankruptcy. Now I am living in a 3000-sq-ft house and a new car. You green face b*t*hy witch!
We keep a credit card in our safe for certain purchases- our card carries an additional warranty on appliance and electronics purchases.
But I pay it off the same day I swipe it.
The idea that people's debt comes from consumerism and lack of control is false. Credit card debt as a percentage has remained constant. What has changed is the massive amount of student loan debt and debt from underwater mortgages.
Debt is dumb, cash is king an the paid off home mortgage has taken the place of the BMW as the status symbol of choice. Get with the program people, pay off your debts and keep the money you make.
Noope. I don't spend more then I have and I make sure of it. I mostly just pay for gas with my credit card. Puts a good amount in monthly that is always paid off on time and in full. Building up that good credit history
You should get one regardless. Having a credit history is important in today's world
Very pleasantly surprised that I am not in the minority here! Our only debt is our houses (one we rent since it hasn't sold) and 1 of our 2 cars. Can't stand owing $. If I can't pay cash, don't buy it!
Starry, what a silly comment about sunflower. You have no reason to think she is making anything up.
You can use a credit card responsibly. I charge almost everything, but pay it off before the due date, with 0% interest. It's mostly a matter of convenience. Also, in case of a dispute, the cc company backs me up. It's safer than a debit card. But, you have to charge only what you can afford.