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| How much credit card debt is acceptable for you?
Posted: 3/28/2008 5:44:19 AM | | It depends on what sort of debts are involved. Many people use credit instruments like credit cards to pay for things, and in itself there is nothing wrong with using these instruments. I prefer to see credit cards as a tool which can be used badly or wisely. If someone wastes their money on consumerist extravagance, and piles on debt which puts them in trouble, I see it as stupidity, but if it is part of the routine household finances which in general terms, are well regulated and under sensible control, then a credit card is not objectionable. Personally I don't have any credit cards as they are basically like borrowing money at 10% interest or above. | |
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| How much credit card debt is acceptable for you?
Posted: 3/28/2008 10:51:53 AM | I blame a few things for the modern propensity for people to have excess credit card debt:
1) Parents spoiling klids giving them too much stuff.
..... The kids get used to getting what they want, when they want it.
2) Lack of decent education in how finances work.
..... Thats both the parent's and the school's fault.
3) Mass media "keep up with the Jonses" advertising.
.... "If you don't have the newest, most "wonderful" XXXXXXX you are a loser!"
BS
most of those "wonderful" things are total JUNK. WASTE WASTE WASTE.
4) Credit card companies that push thier cards at people.
...... Its a joke thats true... I get credit card offers for my cats...
THEY OFFER THE CAT MORE CREDIT THAN THEY OFFER ME!
(No... the cat doesn't have a card. :p )
The first 2 also apply to why the average 40 yr old DOES NOT have even 1 year's income in savings... They are depending on SOMEONE ELSE to provide for their retirement...
FOOLS.
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| How much credit card debt is acceptable for you?
Posted: 3/28/2008 12:18:10 PM | The person that I would "settle down" with will have zero credit card debt and no kids! Period!! I'm not here to pay after she had her years of play. I'll let some other sap have that joy. | |
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| How much credit card debt is acceptable for you?
Posted: 3/28/2008 2:25:45 PM | | I have a credit card that I wanted for mostly emergencies...but, I keep a zero balance. If I do charge anything on it, I pay it off when the statement comes in. I refuse to let them make extra money off me if I can possibly help it. I have used my card when I found alot of clearance items for Christmas gifts the next year..but I will pay it when it comes in. I had a previous relationship that he abused credit cards..and no thank you, I don't want that problem. | |
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| How much credit card debt is acceptable for you?
Posted: 3/28/2008 5:05:07 PM | Credit card debt is only one aspect of financial responsibility. A person's overall ability to manage their money is what matters to me. I have known people who live in big beautiful homes, drive fancy cars and can't afford to order pizza on a Friday night.  | |
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| How much credit card debt is acceptable for you?
Posted: 3/28/2008 5:24:19 PM | Debt was a major factor in my marital breakup.
I have only credit card, only one credit card in my own name for the last 25 years now.
My Ex had 10 credit cards easily over the years, and a lot of debt, which translated into joint debt.
I caught something on the Oprah show maybe 5 years ago or so, it was stated that we should learn to understand and to discern the difference between our Needs and our Wants.
I live frugally, my money is spent on my children. I do have debt, my mortgage is one, my credit card is maxed at the moment, it is my emergency card and it was a medical emergency when I had to pull it out of my wallet.  | |
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| How much credit card debt is acceptable for you?
Posted: 3/28/2008 5:51:26 PM | | Good question and one I haven't really thought about. I haven't carried a balance on a credit card in at least 15 years. Carrying credit card debt seems like such a waste to me.....so I guess I'd have to say any man I'd be seriously interested in would have a very low or zero balance. | |
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| How much credit card debt is acceptable for you?
Posted: 5/15/2008 11:53:30 AM | | It makes sense to use one -- only if you are disciplined at spending only what you can afford. Credit card rates are ridiculously high... pay it off every month and make sure you have one with no fees attached. | |
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| How much credit card debt is acceptable for you?
Posted: 5/15/2008 12:21:14 PM | | I get along fine with just my debit card and no credit cards whatsoever. My credit rating is excellent, my house is paid for as is my vehicle. I pay upfront as I go. Okay, I refinanced my home, but paid it off 15 years early by paying an equal amount of the house payment directly toward the principle each month. I retired at 45. When you spend a few months living in your vehicle because it's all you've got, you've got lots of time to work out just where you went wrong and how to correct it. But that's just me.... | |
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| How much credit card debt is acceptable for you?
Posted: 5/15/2008 12:35:00 PM | | Well it's his debt, therefore when we start seeing each other it's up to him to repay it....I don't have any credit cards cause i prefer that I have the money now, if I don't it doesn't get bought. Simple as that.... | |
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| How much credit card debt is acceptable for you?
Posted: 5/15/2008 1:18:02 PM | As of the moment, I have zero card debt of my own, but am still paying off $4K of the ex's. (she ran up HUGE cc bills between filing and the divorce being final)
I have had mine run up when the divorce was putting me in a negative income situation between temp spouse support that was 67% of my take home pay and lawyers. But I buckled down and paid them off. Barring anything stupid happening they should stay that way. I use my cards for most everything, but pay them off in full each month. I have been jumping the ex's debt from 0% to 0% card for the last year to keep it from costing me money and allowing me to chip away at it. | |
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| How much credit card debt is acceptable for you?
Posted: 5/15/2008 4:14:52 PM | I have a credit card, it has 5 grand on it at the moment. Big deal. Oh no I think I'm the only person on plenty of fish with a credit card balance, from the sounds of everyone patting themselves on the back. I'm not too concerned though, I make more than enough money to pay it off in a few months if need be. When I got divorced I shut down 3 of my credit cards with $7500 limits each, and my $20,000 line of credit (so yeah, got rid of $42,500 in credit) . Kept one card with a $7500 limit, and it's at 5 large. So no biggie. Had to buy a bunch of stuff when I moved into my new house, living room set, bedroom set, matress set, kitchen set, TV, dishes, towels, etc, etc. so I used it for some of that.
Credit is good enough that if I need a line of credit for an emergency, no problem. It was also good enough to buy a new house on my own (while I was still listed on our old house (the ex and I), and a truck, so I must be doing something right. (don't need to know the values, but in Alberta, and 1800sq ft with a 2 car garage, it's a pretty fair amount) Depending on how bored I get at my job, I could go up north to work and pay the house, truck, and my credit card totally off in under 4 years, instead of the 22 years I have on the shack currently. So again, it's not that big of a concern. My car is paid for (an 03) and I'll keep my truck for at least 10 years, with proper maintenance it will probably last 15. Im not the type of person that needs a new car every 4 years. I bought my car new, and my truck used, and they will again, last a good 10 years, so I'm saving money there once the truck is paid off. I have to admit I'm kinda itchin for a Harley though. Heh
As long as the girl isn't too heavy into debt, its alright with me. I'd say under 10 grand would be acceptable, depending on the amount of income she makes. Not a week goes by that I don't get 3 credit card offers in the mail, probably a phone call with credit card offers every other week from this bank or that bank.
LOL ok credit card people leave me alone. | |
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| How much credit card debt is acceptable for you?
Posted: 5/16/2008 4:52:51 AM | None. I've never carried over a balance to the next month (unless you count the "one" time I completely forgot about it and got charged with all the late/interest fees; which just reinforced and redoubled my conviction to never do it again).
I have zero sympathy for people that carry over hundreds or thousands of dollars (and NOT due to medical exigencies or other unforeseen emergencies) and get stuck paying huge fees simply because they're unable to control their own inflated and wasteful spending habits.
Apparently, most never save a dime in this culture or know the meaning of true monetary sacrifice. | |
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| How much credit card debt is acceptable for you?
Posted: 5/16/2008 6:14:12 AM | I'm stunned by the sheer number of pofers who claim to carry zero balances, or haven't used a credit card in 15 years... truely remarkable and so unrepresentative of the population at large!
I confess that for years I had one credit card - that was nearly maxed. I never missed a payment (so my credit was good) but I paid quite a bit in interest. But frankly I don't see it as the sin so many here seem to! It was a necessary evil, if you will. Currently I have several credit cards with zero balances, with extremely high limits. I use two credit cards for the perks (for example, I have a Discover card that pays me 5% back when I charge gas!) and to track my spending. I was able to determine that my gas expense went up $130 month from March to April! I have all my bills set up to pay a set amount automatically, so no, I don't pay the balance off monthly on all of them. But I do keep them within reason (under $1000 combined). The interest isn't all that bad - as long as you don't get slapped with late fees (which auto pay sees to I don't) and the cc companies don't see me as a 'deadbeat' - which keeps my scores up. I also take advantage of the 0% introductory rates when I can. . . I guess I'm in the minority. | |
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| How much credit card debt is acceptable for you?
Posted: 5/16/2008 6:56:21 AM | | The problem with credit cards is that people use them to spend money they do not have. You should never put any more onto a credit card than you are willing to pay at the end of the month. If you use it for convenience and pay your monthly bills with them, always paying the card off at the end of the month, it can be a useful tool. Use it as if you have just discovered treasure under a rock and you are doomed. | |
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| How much credit card debt is acceptable for you?
Posted: 5/16/2008 7:04:57 AM | wow, its crazy the amount of people saying they have no debt. I can honestly say I don't have a credit card...(I got a mortgage easily enough, but couldn't seem to get accepted for a credit card! Thanks Goodness!!!).
At the moment, I do have some debt from school, but its borrwed from my dad so no interest. But personally ZERO DOLLARS is acceptable credit debt for me (Even if that is not the case now, it will be at the end of the year) .
And for me its very important to find someone who also has control of their money. Its such a turn off when men are frivolous with their money. | |
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| How much credit card debt is acceptable for you?
Posted: 5/16/2008 8:02:45 AM | When I first got a credit card, it was nothing more than a more convenient means of paying for something. If you don't already have the money (or will not have the money before the balance is due), you shouldn't use it.
Unfortunately when times get tight and you need something, even though you do not have the money on hand, it can be easy to be tempted to use it as a temporary loan. In the past I used a credit card in this way, needing to temporarily supplement the minimal income I did have. I juggled it for several years, but could not get it under control before it spiraled to a point I was several thousand in the hole.
It is never good to borrow from the future, when you don't know how much you will be able to borrow, and it'll just come back to kick you in the a.s.s.
In the future, if I ever do get another credit card, I'll choose to go hungry or ask for help if a situation like that comes up again. | |
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| How much credit card debt is acceptable for you?
Posted: 5/16/2008 8:17:50 AM | None...that's acceptable.
everything I have is all paid for.
and I am only 28.....so,
I want the same,
if you have huge mortage,
huge car loan, or/and credit card debt....
that means one thing....
you like to spend more than you can
afford....
That;s a big NO NO! | |
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