Curiosity only! We use our CC for almost everything, but try to pay it off every month (unless we have a major unforeseen expense, then it takes a few months).
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Is consumer debt just credit cards? We have 0, so I just put less than $1000. We also don't have a car payment right now (we bought cash), but we might get a newer car in the next year and then we might have a car payment, if we don't buy in cash. Not sure if that counts as consumer debt.
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@Anagram: yep, consumer debt is credit cards! i didn't want ppl to include stuff like mortgage or student loans : )
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I must admit if I have more lines of credit I would so be in trouble... DH and I have a cc each with a very small balance & both are maxed out. Thankfully the balances combined are less than 1k so we can get them paid off here as we start to tackle our debt!
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I voted in the "or less category", though like you I put pretty much *everything* on the cc so I can get the credit card rewards (effectively 1% to 3% off of everything I buy via giftcards and/or cash back rewards).
This adds up to 1400 to 1700 in expenses each month on the card. However, I pay it in full each month, I've only had a balance carry over month-to-month a handful of times in the last decade.
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I personally only have $100 on my credit card right now. DH has about $4500 on one of his from before we got together/married.
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We've got quite a bit. Nothing on them is fun/entertainment. DH's truck needed new tires, our dog had to have emergency after hours vet visits, some from our honeymoon where we went a little crazy(only non emergency thing).
We've got ~3800. There is no way around it, we do what we have to. Once it's paid off we'll cut up DH's card and never use mine.
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@winniebee: ahh...okay. I had some CC debt after our wedding in Sept, (because I'm a freak who wants to keep a set amount that makes me feel "safe" in my savings, so I'd rather pay a small interest fee every month than pay it all off at once out of my savings and have no savings).
But Dh said I was being crazy, so he convinced me to just pay it off in one lump sum. He was right. I've already rebuilt the savings and I'm not paying the interest fee.
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We don't have any CC debt. The only thing we use a CC for is when DH buys parts for his business. Once he is paid for working on the machine the part was for he pays of the CC. It is never more then 2 weeks before it is paid off.
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None! We use our CC for everything, but have never carried a CC balance and not paid it off each month.
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We use our cards pretty heavily, but pay it off every month or within 2 months, depending on if we decide to put a larger purchase on them. My husband likes to get as many reward points as possible through the year, and his card also gives us an extra kick back if we put so much on it every year.
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$0 on our credit cards, but we both have car loans.
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We use our credit cards but pay the bills in full every month. My husband loves getting points on the credit cards for free flights and things.
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Like @JerricaBenton:, we use our CC for everything, but pay off the balance every month. We use it to just earn points/cash back.
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Thankfully, the only debt we have is a mortgage. We do use one CC for everything & pay it off fully every month for the points.
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None, we pay them off each month.
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We don't have any!
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None. We pay off our card every month.
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The only debt we have is our mortgage. All credit cards are paid off every month.
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We have 2 normal CCs and 2 store CCs. We use our Best Buy card all the time to buy things with their special financing, and right now my new computer is on there. The only other card I'm using has over 1k, because of about 1000$ in unexpected car repairs earlier this year. We paid off his car early and are now putting that payment towards the CC; hopefully we will have it paid off by December!
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We have 2 CCs that we also use for the rewards. We pay them off each month or have a very small balance. We also have a home line (of credit) but used it for renos on the house (kitchen, roof, windows, bathroom) which we are slowly paying off. However, if we sold our house we'd easily have $200K after paying it and the mortgage off.
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None. But we have student loans and a mortgage.
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$0. Our only debt is our house.
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We use our credit cards for EVERYTHING. We like the rewards points and it makes it easier to track our spending. But the balance is paid off in full every month. We don't spend money we don't have. Unexpected expenses are paid out of savings.
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We use our credit cards for everything but pay them off in full every month, so $0. DH actually pays his before it is due, since he's weird.
I carried a balance for maybe half a year right before I moved out of NYC and I hated paying interest every month. The day I paid it all down to zero I swore to never ever carry a balance again! -
@MamaMoose: We do this too.
We use our cc for almost all purchases for the rewards. It's always paid in full and we've never carried a balance over to the next month. Never paid interest on a cc before!
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None! Like others, we use our CC for everything but pay it off every single month. I never buy something with a CC that I couldn't buy with my debit card.
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The only debt we have is our house and cars. We do use our CC on occasion, but it gets paid off every month.
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None. We put everything on our CCs but it's automatically paid.
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Probably around 4k =/ but we are working on paying them off and never using again! Just paid one off! Woo hoo.
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Wow...This post makes me feel bad!!! We have a ton of debt (for various reasons, not a lot of fun reasons). It sucks and it is sooooo stressful. It seems like all the bees here are great with money and have no debt, which is fantastic!! Is there anyone else out there like me?? lol
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I consider that rolling debt and so I clicked $1000 or less. We have 0 outstanding consumer debt each month. We don't have car payments and as hard as it is some months when we have unexpected expenses, we pay the cc off each month.
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Less than $1000. Our limit on our CC's is so low that we can't have a lot on them, and we don't have a car payment. I'm hoping to have them paid off in full before LO gets here.
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None. We use our credit cards but we pay them off on time every time.
Our house is also almost paid off. We estimate it will take us another 2 years or so to pay it off (we've owned it 2 and a half years). We also just recently bought an industrial unit for our business, so we have a mortgage on that too (We may have to take out a loan to help us with the 50k+ of renovations). We bought both our cars outright.
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No consumer debt here - only mortgage and DH's (small) student loan!
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Zero. We dont have credit cards.
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we have no debt of any kind (cc, morgage, car, student loans). but we also have no extra money and hardly any savings!
we use our cc's every day but pay it off right away, twice a month or more.
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$350 for credit cards right now.
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We pay ours off every month, but rarely use them anyways.
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We just have CC debt, well besides house and car, but we usually pay it off each month. The last couple months it has been higher since buying the house. But still have paid it off each month.
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