how much credit card debt are you in? - Page 2 - GoFuckYourself.com

Illicit · 03-05-2005, 03:36 PM

I owe $77 on credit cards... I use it for gas (free golf balls), and I filled up both vehicles

Edit: 51 People in way too much debt

FreakinWebmaster · 03-05-2005, 03:42 PM

Everytime I fill up with gas I use a gas card. i just like being able to see how much I spend in gas each year. I pay off that card every month.

borked · 03-05-2005, 04:00 PM

Quote:

Originally Posted by rickholio

To not get fucked by floating interest rate loans when they crank it up to avoid inflation, perhaps...

Although I agree, if you have enough money to buy a house outright, you'd be better off getting a fixed low rate loan and invest the money you would have spent on the purchase on investments that yeild a higher return.

Screw variable rate mortgages - we hot our home at 4.1% fixed rate with 1/4 of the price on a company fixed rate of 2.4%.
The variable rate was 3.4% - worth saving 0.7% now? Screw that!

That's the only debt we have, and only because at paying the loan back at 4.1% over 20 years, it's far wiser than paying outright.

Credit cards? Like mentioned above, since Debit Cards, credit cards are for fools - you don't have it? Don't spend it.

FrankWhite · 03-05-2005, 04:13 PM

i did have a loan, i just paid it off in one year, i dont need to pay more for my house then its already costed me.

Wiggles · 03-05-2005, 04:23 PM

I assumed my wifes debt and its about 10k, i've reduced it by about 5k in about 3 months.

rickholio · 03-05-2005, 04:24 PM

Quote:

Originally Posted by borked

Screw variable rate mortgages - we hot our home at 4.1% fixed rate with 1/4 of the price on a company fixed rate of 2.4%.
The variable rate was 3.4% - worth saving 0.7% now? Screw that!

That's the only debt we have, and only because at paying the loan back at 4.1% over 20 years, it's far wiser than paying outright.

Credit cards? Like mentioned above, since Debit Cards, credit cards are for fools - you don't have it? Don't spend it.

Yup, good plan. You should easily be able to put that cash to work for better than 4.1%, particularly if inflation kicks in and interest rates start climbing. Looks like you're set... nice rate too.

There's still practical applications for CCs... reserving hotel rooms and such. I also find it useful for a breakdown of expenses as it tends to give more detail than interac transaction statements. Debit cards don't do much good for your credit rating either.

In terms of daily spending though, you're absolutely right. I never buy anything with the CC I couldn't pay for outright in cash... I just funnel it through there for the convenience or to bump my rating.

rezdesign · 03-05-2005, 04:32 PM

all funds $CAD..

gov. student loan (mine) = $25,000
gov. student loan (wife) = $3,000
bank l.o.c. = $15,000

cc #1 = $1,500
cc #2 = $2,200
wife cc = $2,000

renting apartment, own a $12,000 car...

can anyone lend me $48,700?

borked · 03-05-2005, 04:36 PM

Quote:

Originally Posted by rickholio

There's still practical applications for CCs... reserving hotel rooms and such. I also find it useful for a breakdown of expenses as it tends to give more detail than interac transaction statements.

My debit card is Visa (in france, Carte Bleue Visa is de rigor for bank debit cards), and it comes with the option to have the transaction automatically come out of your bank, or accrue the transactions and have them all come out of your a/c at the end of the month - this option is great since it's essentially a credit card where you pay off the balance each month.

True though, it adds nothing to the credit rating, but I've not had trouble getting credit, so I don't know where my rating comes from - the number of times I've refused to pay my cell phone bill in full due to disputed charges (wanker cell phone companies!), one would have thought my credit rating would be down the pan!

Pornwolf · 03-05-2005, 04:37 PM

4.1 is a great rate. Congrats.

azguy · 03-05-2005, 04:42 PM

Paying in cash for everything you purchase is `cool` but not really a smart thing to do. Building credit is important, you can't say it isn't. It can't hurt to have great credit, so why avoid it. Be smart, charge stuff, but make damn sure you pay it off in full at the end of the month (that's why I only use AMEX for CC transactions, they force me to pay it, those fuckers!)

borked · 03-05-2005, 04:45 PM

Quote:

Originally Posted by Pornwolf

4.1 is a great rate. Congrats.

Yeah, rates in continental Europe are pretty low at the moment - a friend last month got 4.0. What was a very nice add on to our mortgage, was a no-fee renegotiation clause (which some bank or other introduced 10 years ago and is now pretty much standard here). When we got our mortgage 2 years ago, I had 3 friends, whose rates were on 5-6.7% but had the same no-fee renegotiation fee. They instantly went to their banks saying they wanted a better offer since they knew such-a-bank was giving 4.1% and they all got more or less the same rate. Thousands off their overall cost instantly at no cost to them - got a few bottles of wine from them all for that bit of info

rickholio · 03-05-2005, 05:04 PM

Quote:

Originally Posted by borked

Yeah, rates in continental Europe are pretty low at the moment - a friend last month got 4.0. What was a very nice add on to our mortgage, was a no-fee renegotiation clause (which some bank or other introduced 10 years ago and is now pretty much standard here). When we got our mortgage 2 years ago, I had 3 friends, whose rates were on 5-6.7% but had the same no-fee renegotiation fee. They instantly went to their banks saying they wanted a better offer since they knew such-a-bank was giving 4.1% and they all got more or less the same rate. Thousands off their overall cost instantly at no cost to them - got a few bottles of wine from them all for that bit of info

Ahhh... if only I could borrow from a european lender.

Ah well.

Drake · 03-05-2005, 05:13 PM

Mine was -$3 the last statement. I overpay on my card many times because there are a lot of services that auto-charge my card and I hate debt

I cleared a $1369 credit card debt at HomeDepot recently

MrJackMeHoff · 03-05-2005, 05:16 PM

Zero, Ziltch, Nada, shit banks owe me money..

maddox · 03-05-2005, 07:46 PM

zero, null, 0, whatever you call it

I make more money than I can spend/invest

FreakinWebmaster · 03-05-2005, 07:56 PM

I agree with azguy, its very inportant to build your credit.
I try to use my card, then pay it off within 30 days. Hopefully when I go to purchase my first home, I should have no problem getting a good apr.

The Sultan Of Smut · 03-05-2005, 07:57 PM

zilch

thefool · 03-05-2005, 08:08 PM

$0 in credit cards, but about $26K in student loans lol. Probably still owe BMG & Columbia house some $, but they'll have to find me ;) lol

Boss Traffic Jim · 03-05-2005, 10:08 PM

Quote:

Originally Posted by JaceXXX

absolutely none

if I can't afford to pay cash for it, i don't get it

i have never, nor will I ever own a credit card

Don't you ever go on vacations or someplace where you need to buy stuff that costs more then the cash in your pocket?

MetaMan · 03-05-2005, 10:10 PM

this black dude stold my credit card and bought $10k worth of crack with it.

chodadog · 03-05-2005, 10:30 PM

Credit card debt is for chumps.

aeon · 03-05-2005, 11:08 PM

Use a CC to pay for everything possible business related. If a designer/programmer flakes, service/product doesn't get provided or is fucked up; it's almost impossible to charge back a debit card. That little lesson cost me $3500 to learn a few years ago.

Just have the discipline to pay it off at the end of the month so you avoid interest (interest's a write off anyway so it's not that big of an issue) and still maintain the level of security that comes with knowing your transactions are in some way insured.

After Shock Media · 03-05-2005, 11:15 PM

4,167.00 on our mortgage.
5,300.00 on our truck.
219.00 on one business card.
371.00 on different business card (different business).
121.00 on a personal card.
So all in all under 11,000.00 in debt. Which is considerably less than what is in savings.

quiet · 03-05-2005, 11:23 PM

usually a couple thousand on my mastercard, and that's it.

FreakinWebmaster · 03-07-2005, 09:19 AM

Quote:

Originally Posted by Lord of the fungi

4,167.00 on our mortgage.
5,300.00 on our truck.
219.00 on one business card.
371.00 on different business card (different business).
121.00 on a personal card.
So all in all under 11,000.00 in debt. Which is considerably less than what is in savings.

I find that very odd that you owe less on your mortgage then your truck

Jakke PNG · 03-07-2005, 09:26 AM

I think I've spent like $200 on my CC this month.

rickholio · 03-07-2005, 07:15 PM

Quote:

Originally Posted by MetaMan

this black dude stold my credit card and bought $10k worth of crack with it.

Liez. There are no black men in Alaberta!

Now if you'd claimed that a ukranian or romanian gypsy had done it, you might have gotten somewhere...

FissPunny · 03-07-2005, 07:25 PM

what if you borrow 100k at 7% invest it and make 15% on it?

Rochard · 03-07-2005, 07:54 PM

ZERO.

Other than a car payment and a house payment I have zero debt. No credit cards what so ever.

Drake · 03-08-2005, 03:40 AM

Quote:

Originally Posted by azguy

Paying in cash for everything you purchase is `cool` but not really a smart thing to do. Building credit is important, you can't say it isn't. It can't hurt to have great credit, so why avoid it. Be smart, charge stuff, but make damn sure you pay it off in full at the end of the month (that's why I only use AMEX for CC transactions, they force me to pay it, those fuckers!)

I agree. Before I was of age to have a credit card I heard people warning me never to get one because I would fall into debt. If you're responsible there is no reason not to have a credit card. Just don't buy things you can't actually afford. It's that simple. Meanwhile you build credit and that is a good thing.

I remember not planning ahead one New Years. I was stranded with a girl I wanted to fuck but I couldn't make it back home. I didn't have cash on me and no ATM's were around but I was able to get a room at a hotel using my CC. Not to mention all kinds of minor things you can pay for online and offline to avoid actual cash transactions.

rickholio · 03-08-2005, 04:10 AM

Quote:

Originally Posted by Mike33

I agree. Before I was of age to have a credit card I heard people warning me never to get one because I would fall into debt. If you're responsible there is no reason not to have a credit card. Just don't buy things you can't actually afford. It's that simple. Meanwhile you build credit and that is a good thing.

I remember not planning ahead one New Years. I was stranded with a girl I wanted to fuck but I couldn't make it back home. I didn't have cash on me and no ATM's were around but I was able to get a room at a hotel using my CC. Not to mention all kinds of minor things you can pay for online and offline to avoid actual cash transactions.

Yeah, I got that too. I think there's a perception that once kids (well, teenagers) get a hold of something that approximates real money that they'll wallow in an orgy of frivilous spending. Many do, of course, which is why visa loves sending out brochures to new students. Hook 'em while they're young.

You're totally right though, used responsibly a CC is the ticket to a good credit rating and is helluva convenient to buy things online and other... uh... tasks.

theking · 03-08-2005, 04:17 AM

Quote:

Originally Posted by FreakinWebmaster

Whether it be business expenses or personal. How much debt are you in?

I am doing a survey for this new book I am reading. It recommends doing research to find out how much debt others are in, in the same industry.

Zero...nada...none.

beemk · 03-08-2005, 04:43 AM

about 5 grand, i have the cash to pay it off but its 0% for a year so i havent paid it off yet.

plyndrty · 03-08-2005, 04:46 AM

I am around 200k left for the house and a car. As for CC i use AMEX pretty much for everything so its paid off monthly. I do have a VISA but never use that for much, just here and there to exercise the credit.

plyndrty

pstation · 03-09-2005, 01:10 AM

-300

ha

zentz · 03-09-2005, 01:39 AM

i dont have one

(

03-05-2005, 04:23 PM	#55
Wiggles Too lazy to set a custom title Join Date: May 2004 Posts: 14,423	I assumed my wifes debt and its about 10k, i've reduced it by about 5k in about 3 months. __________________ no sig

03-05-2005, 04:32 PM	#57
rezdesign Confirmed User Join Date: Feb 2004 Posts: 1,502	all funds $CAD.. gov. student loan (mine) = $25,000 gov. student loan (wife) = $3,000 bank l.o.c. = $15,000 cc #1 = $1,500 cc #2 = $2,200 wife cc = $2,000 renting apartment, own a $12,000 car... can anyone lend me $48,700? __________________ Professional Web Design and Programming: xDesignStudio.com

03-05-2005, 04:37 PM	#59
Pornwolf Drunk and Unruly Join Date: Jan 2002 Location: Hollywood Posts: 22,712	4.1 is a great rate. Congrats. __________________ I've trusted my sites to them for over a decade... Webair, bitches.

03-05-2005, 05:13 PM	#63
Drake Hello world! Industry Role: Join Date: Mar 2003 Posts: 12,508	Mine was -$3 the last statement. I overpay on my card many times because there are a lot of services that auto-charge my card and I hate debt I cleared a $1369 credit card debt at HomeDepot recently Last edited by Drake; 03-05-2005 at 05:14 PM..

03-05-2005, 05:16 PM	#64
MrJackMeHoff Confirmed User Join Date: Mar 2004 Location: LOLLIPOP ISLAND =-=-=-=-=-=-=-=-=-=-= =-=-=-=-=-=-=-=-=-=-= =-=-=-=-=-=-=-=-=-=-= =-=-=-=-=-=-=-=-=-=-= =-=-=-=-=-=-=-=-=-=-= =-=-=-=-=-=-=-=-=-=-= =-=-=-=-=-=-=-=-=-=-= =-=-=-=-=-=-=-=-=-=-= =-=-=-=-=-=-=-=-=-=-= =-=-=-=-=-=-=-=-=-=-= Posts: 4,569	Zero, Ziltch, Nada, shit banks owe me money.. __________________

03-05-2005, 03:36 PM	#51
Illicit wtf ? Join Date: Dec 2003 Location: GFY Posts: 11,895	I owe $77 on credit cards... I use it for gas (free golf balls), and I filled up both vehicles Edit: 51 People in way too much debt

03-05-2005, 03:42 PM	#52
FreakinWebmaster Confirmed User Join Date: Jan 2003 Location: Mile High State Posts: 935	Everytime I fill up with gas I use a gas card. i just like being able to see how much I spend in gas each year. I pay off that card every month.

03-05-2005, 04:13 PM	#54
FrankWhite Confirmed User Join Date: Nov 2002 Location: nyc Posts: 3,540	i did have a loan, i just paid it off in one year, i dont need to pay more for my house then its already costed me.

03-05-2005, 04:42 PM	#60
azguy Confirmed User Join Date: Nov 2004 Location: Scottsdale, AZ Posts: 5,167	Paying in cash for everything you purchase is `cool` but not really a smart thing to do. Building credit is important, you can't say it isn't. It can't hurt to have great credit, so why avoid it. Be smart, charge stuff, but make damn sure you pay it off in full at the end of the month (that's why I only use AMEX for CC transactions, they force me to pay it, those fuckers!)

03-05-2005, 07:46 PM	#65
maddox Confirmed User Join Date: Jan 2004 Location: Vienna, Austria Posts: 648	zero, null, 0, whatever you call it I make more money than I can spend/invest

03-05-2005, 07:56 PM	#66
FreakinWebmaster Confirmed User Join Date: Jan 2003 Location: Mile High State Posts: 935	I agree with azguy, its very inportant to build your credit. I try to use my card, then pay it off within 30 days. Hopefully when I go to purchase my first home, I should have no problem getting a good apr.

03-05-2005, 07:57 PM	#67
The Sultan Of Smut Confirmed User Join Date: Dec 2004 Location: Vancouver Posts: 4,325	zilch

03-05-2005, 08:08 PM	#68
thefool Confirmed User Join Date: Jan 2005 Location: ICQ 341530034 Posts: 1,593	$0 in credit cards, but about $26K in student loans lol. Probably still owe BMG & Columbia house some $, but they'll have to find me ;) lol __________________ NF pays $50 for each new join!

03-05-2005, 10:10 PM	#70
MetaMan I AM WEB 2.0 Industry Role: Join Date: Jan 2003 Posts: 28,682	this black dude stold my credit card and bought $10k worth of crack with it.

03-05-2005, 10:30 PM	#71
chodadog Confirmed User Join Date: Apr 2002 Posts: 9,736	Credit card debt is for chumps. __________________ 26 + 6 = 1

03-05-2005, 11:08 PM	#72
aeon Confirmed User Join Date: Sep 2002 Posts: 470	Use a CC to pay for everything possible business related. If a designer/programmer flakes, service/product doesn't get provided or is fucked up; it's almost impossible to charge back a debit card. That little lesson cost me $3500 to learn a few years ago. Just have the discipline to pay it off at the end of the month so you avoid interest (interest's a write off anyway so it's not that big of an issue) and still maintain the level of security that comes with knowing your transactions are in some way insured. __________________ QuickRichClick Backed by the founders of CyberAge.com & UGAS.com.

03-05-2005, 11:15 PM	#73
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	4,167.00 on our mortgage. 5,300.00 on our truck. 219.00 on one business card. 371.00 on different business card (different business). 121.00 on a personal card. So all in all under 11,000.00 in debt. Which is considerably less than what is in savings.

03-05-2005, 11:23 PM	#74
quiet we'll miss you our friend. RIP Industry Role: Join Date: Sep 2001 Location: Fernie, BC Posts: 25,115	usually a couple thousand on my mastercard, and that's it. __________________ we'll miss you our friend. RIP

03-07-2005, 09:26 AM	#76
Jakke PNG ex-TeenGodFather Industry Role: Join Date: Nov 2001 Location: Suomi Finland Perkele Posts: 20,306	I think I've spent like $200 on my CC this month. __________________ ..and I'm off.

03-07-2005, 07:25 PM	#78
FissPunny Confirmed User Join Date: Sep 2004 Posts: 231	what if you borrow 100k at 7% invest it and make 15% on it? __________________ SIG TOO BIG! Maximum 120x60 button and no more than 3 text lines of DEFAULT SIZE and COLOR. Unless your sig is for a GFY top banner sponsor, then you may use a 624x80 instead of a 120x60.

03-07-2005, 07:54 PM	#79
Rochard Jägermeister Test Pilot Industry Role: Join Date: Dec 2001 Location: NORCAL Posts: 74,049	ZERO. Other than a car payment and a house payment I have zero debt. No credit cards what so ever. __________________ “The choice is no longer between right or left. The choice is between normal and crazy.” - Sarah Huckabee Sanders YNOT MAIL \| THE BEST ADULT MAILING SOLUTION

03-08-2005, 04:43 AM	#83
beemk CLICK HERE Industry Role: Join Date: Jan 2002 Posts: 20,829	about 5 grand, i have the cash to pay it off but its 0% for a year so i havent paid it off yet. __________________ I host with Vacares

03-08-2005, 04:46 AM	#84
plyndrty Confirmed User Join Date: Jul 2003 Location: Tampa Posts: 1,477	I am around 200k left for the house and a car. As for CC i use AMEX pretty much for everything so its paid off monthly. I do have a VISA but never use that for much, just here and there to exercise the credit. plyndrty __________________ Free Porno You Porn Fuck

03-09-2005, 01:10 AM	#85
pstation Confirmed User Join Date: Jul 2003 Location: chicago Posts: 1,135	-300 ha

03-09-2005, 01:39 AM	#86
zentz Confirmed User Industry Role: Join Date: Nov 2003 Posts: 8,053	i dont have one ( __________________ Programs that owe me money ---- Epassporte.com ~ $2700 \| Protraffic.com ~ $2600 \| XonDemand.com ~ $3000 Email: [email protected]