| How much credit card debt is acceptable for you?
Posted: 9/1/2007 9:09:44 AM | ...one more thing to add...
If the person got into debts for whatever reason and is taking full responsibility for the situation, I would support them in their action. After all, the situation they are in is not their life, it is only their life situation. It can quickly change, what was down will be up,
Anyone who lives
within his means
suffers
from a lack
of
imagination LIONEL STANDER
I am surprised but not really to hear all the preachers in the forum, how to perfectly run your finances. You don't know my life situation or another person, but it is very human to quickly judge.
I suppose for me, victory is not a victory, without taking a risk.
Good morning on Saturday,
Mona Lisa smiles | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 5:29:22 PM | | Am I the only idiot who actually has credit card debt? What is with this zero thing? In the States, so this does not apply to Canada or the rest of the world. Your credit card debt or really your credit scores are very important. Why. Okay, let's say you don't have any or much credit. You go to buy a house. You get hit with this huge percentage, yet you owe nothing. They want to see a history of good credit. So you do want to have credit card debt, but keep it manageable so then you can get the best rates on car and home and major stuff. Then pay the f•vck off. So contrary to what people say here, you need credit card debt, it will will give you a rating with Equifax and other credit rating companies like that (big brother watching) but it can make the difference from paying for a mortgage and extra thousand dollars a month and all going to interest. So you decide. | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 5:34:27 PM |
So you do want to have credit card debt, but keep it manageable so then you can get the best rates on car and home and major stuff. Then pay the f•vck off. So contrary to what people say here, you need credit card debt
Nah.
I carry a zero balance. In fact I rarely use my cards. Now according to your way of thinking my credit rating would be low and therefore have to pay a higher interest rate.
Well, I must be an anomaly then. My rating is pretty high and I have never paid a high interest rate. | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 5:41:34 PM | Thanks for this question:
I just broke up with a man that has too much debt.
He said, I was materialistic for doing so..
And that MONEY was the ROOT of all EVIL..
I told him that NO .. He is the materialistic one for having so much debt at 46.
NOT me.. because the only debt I have is GOOD DEBT..which means my mortgage.
I found out his last girlfriend of 3 months (I dated him months) broke up with for the same reason.
First it was 10 than 20 then 70,000 he owed.
He said why did I wait almost 2 months to end it.
Will why did he lie about how much he owes..
No house; no car (he leases) and only debt...and two young children 2 and 6 to pay child support for the next 20 years.
No thanks.
He lied about owning a Franchise.. I found he only hopes to buy into it..
So right there that is scary that he lied to me about that. I mean I was not looking for someone who owns a franchise.... he just wants to make himself look better I think to get a financial stable woman to move in with..
YES.. he was rushing moving into my two family house; i don't rent downstairs..
He made a joke about giving me half of what the rent is going for on this block..
Well.. all in all... I don't want a man with huge debt and no assets..
And especially one that lies..
He kept writing me telling me I have my priorities wrong..
I think he just does not want to go live with his parents and tired of high rent..
He had rather have a woman for affection and company and was pushing marriage ..
I'm not rich ... but no debt and at least I have my home (which I would not if I overspend as a single mom).
jacqueline. | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 5:42:20 PM | | Around 1986 or 87, my ex wife ran up over $900 on my gas card. I found out when I tried to use my card and the dealer took it away and cut it up. She'd been collecting the mail daily and that was only the tip of the iceberg. It took me a couple of years to get out from under that mess and I have never carried a balance since. Now I don't even buy a vehicle unless I can pay for it in full. My answer on acceptable credit card debt... $ Zero !!! | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 5:48:42 PM | What is exceptable for me in credit card debt. Zero is exceptable. Whatever the credit card bill is for that month, pay it in full. That way there is no interest charge as well. The credit card companies call people like me debt beaters.
The % rates are to high, and I like money to much to waste it needlessly. | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 5:50:01 PM | | I don't have any credit card debt, but I use one for all my general spending. I've made over $100 with it! Cashback bonus and all of that, I pay it back in full every month. It's easier then carrying around cash all the time. It has also helped me with my credit history, people are practically begging me to sign up for loans or buy things, so yeah, it helps out a lot, but only in the hands of someone who can manage their money well. | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 5:50:47 PM | I am the one with OP here. I had to break up with a guy who had credit card debt to a degree I found unaccptable. He was pissed that I am a gold digger (based on his interpretaion). After that I have dated 2 men and they had the credit card debt also. I was not happy about the situation. I am so surprised why guys here are saying "zero".
The last 3 of my boys had it. What what before I am not sure because I simply never was digging in that department. You also (most likely) NOT be ablet o find this info very early in relationships after you progress you may or may not. After that I was launched stories that they are all hard working, blaming the goverment, job market, an ex and etc. They were not bad guys, no any mind games, no cheating, lies, crap they did admit their debt sooner or later in relationship.
Again, I am surprised how many men here would say "zero" in here.......... | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 6:02:57 PM | I don't think we have an accurate picture here of what the credit card debt situation is like. Those of use who carry a zero balance are anxious to post that information to show our superiority to those poor schleps who do carry a balance. We seem to have a mutual admiration society. The reality is that most people carry a credit card balance and many carry far too large a balance. Just because you carry a balance on your credit card does not make you stupid or a bad person or someone to avoid dating.
Also, money is not the root of all evil. It is the LOVE of money that is said to be the root of all evil. | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 6:05:53 PM | | If this is going to be a factor in your relationship shouldn't the real question be how well can you manage your money, and if that is the question why would you build the foundation of your relationship on monetary value? | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 8:58:41 PM |
Actually there is logic there. No credit history means you have shown no ability at all to pay a bill in a timely manner.
To me... paying cash for everything demonstrates a hell of a lot more of an ability to pay for things than having bad credit does. Unless one is a victim of ID theft.. having bad credit means one isn't able to pay their bills on time.
They have nothing to trend your habbits with paying bills off of.
There's a trend established alright if you have bad credit. It's sort of a "no news is good news" thing. This is my view on it though.. I don't see the logic.
In the States, so this does not apply to Canada or the rest of the world. Your credit card debt or really your credit scores are very important.
Nah.. important here too. Trust me. Done differently.. as in.. I don't think we have numbers/scores the way you Americans do.. but we have categories. If memory serves. | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 9:34:30 PM | | my limit is set at $3500 but I've never had it below $1000. I always keep it at zero, and immediately pay off anything owing on it on each payday. I only use my credit card once or twice a month, usually just as additional proof of purchase of something. | |
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ams42
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Joined: 3/12/2006
Msg: 117 | |
| How much credit card debt is acceptable for you?
Posted: 9/1/2007 9:55:20 PM | I was married to a man who always lived beyond his means. Here in PA, I was accountable for half of the debt, even though my name was not on his account! :( So, when the divorce was finalized and sold the house we owned, I paid off my share of the debts with the proceeds from the sale of my home. I made a resolution that I would never be that far in debt again. I do have some debt on my credit card right now because of putting vacation on the card and some unforeseen circumstances came along that I had to use the money I had for the credit card, had to be used to pay for the things needed. But, I plan on having a "no balance" as soon as possible.
Each person is responsible for their debts and assets.
Should I want to get married again, I would make an understanding that we pay off all debts before we got married. The only debt I want to have is a home mortgage. | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 10:19:46 PM | I used to work at JPM as a financial advisor and americans are HORRIBLE when it comes to credit cards. The average american has 6 credit cards.
I only have 1 credit card, and 1 store card. I pay them off in full each time. I rarely use them though, I only did when I first got them to build up my credit.
Sooo I would expect anyone to have under 5000$ in credit card debit | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 10:54:11 PM | Credit cards are great things to have, if you use them wisely. I use mine for everything I can put on it and pay it in full every month. I earn air miles and have gotten 5 free airline tickets over the years. Flew to the Caymans last Sept for $60.00 round trip from middle USA.
One time I had to have an out of state surgery, costing more than my credit card limit. My insurance would eventually reimburse me but I prepaid the overage, charged the surgery, got a free airline ticket out of it and then used the insurance reimbursement to pay off the final charges.
I'm not looking for an auto dealer that will sell me a car on my credit card..  so I can get enough air miles for another fly and pay the card off when it comes due. Problem is, the auto dealers are limiting auto purchases on credit card to the first $5,000.00....pits.
Since 1065...yes I know long before most of you were born...I've only paid $1.28 in interest one time, cause I was late on something. Gezzzzzzz I hated not having that money to spend someplace else.
Even on one's home mortgages, if you pay a bit extra each month or when you have a few extra bucks...on a 15 year mortgage you can knock off 2, 3 4 years and save big bucks and you never even miss the few extra dollars. Round up your monthly payment to even dollars like $50.00 or $100.00's , you don't even miss it.
Stress from money problems is the leading factor in stress filled marriages. So always...pay your self first....at least 10% into savings you can access for an emergency or to treat yourself and your spouse to a get away.
It's good to hear so many are debt conscious....that's the only way the working person will ever get ahead in this world. I have two daughters. The first inherited my financial sense and the second didn't......guess which one has the sound marriage and is ahead of the game. | |
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| How much credit card debt is acceptable for you?
Posted: 9/1/2007 11:17:32 PM | I have Zero debt , so future partner will have to come with zero,
the only thing i use Credit cards for is to par for internet , any thing else is cash, i maybe broke but i sleep in peace. | |
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| How much credit card debt is acceptable for you?
Posted: 9/2/2007 6:49:13 PM | I have credit card debt. Doesn't everyone? Who cares anyway? What is this, a pre-employment screening? 
I never even wanted one myself since I dislike owing people money but I was told that I needed to build a credit history. So I got one and started buying stuff with it. Oh well. | |
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