Today's poll asks how much credit card debt you have. Please post your answer below.
If you have any comments about this poll, feel free to post them below in the feedback forum.
The worst part is that I am still paying on things years later and don't even remember what it was that I had charged! One of my credit card bills last month had a minimum payment due of $12, the interest was $8, meaning a measly $4 would apply to the principal, at this rate it will take me 20 years to pay off the card. Which, of course, is why the company only wants me to pay $12, so they can keep collecting my interest for the next 20 years! When are we all going to realize that credit card companies are just taking advantage of us and living off of us like parasites!
Most of my credit card bills have been for things "I want" not things I really need, with the exception of Christmas and Vacations. This year we are saving for vacation and have a Christmas club account. I am also sewing gifts for my family in the months of Jan, Feb, and March, for Christmas this year. I am taking advantage of the sales in fabric stores which really helps. Credit card companies are like everyone else they are getting rich off of whoever they can. We need to keep asking ourselves who is the wisest us or them, let it be us. If you cannot pay the card off each month do not charge it. Find an alternate way to purchase what you need unless it is a true emergency.
Why in your poll do you not have a $0 balance section? This is what we have. We always pay off the credit card each month...therefore we have no "credit card debt". We use the card to buy everything...groceries, clothes, etc. We never pay the credit card company any interest because we pay it off before its due date.
Ever since Ronald Reagan eliminated the deduction you were able to declare on your income tax for finance charges paid (one of the dumbest things he ever did, in my opinion), I haven't carried a balance on any of my credit cards. They are paid in full every month. And I use one card the most where they give a cashback bonus and it still is paid in full each month. I also pay my bills online through my bank and no longer write out checks or mail bills (saving on stamps). I am a retired widow and my pension and my late husbands def comp are directly deposited in my checking account. I carry very little cash so by charging and paying in full, it is a lot easier for me.
I, too, am at zero credit card debt. It wasn't always this way. Years ago, we took a good look at what we were doing and cancelled all of them and paid off the debt. I have never had a credit card since. Now I think of something to buy and give it a few days. Usually it's "want" and not a "need." I never give in to "wants." When I actually need something, it's paid by check or cash. I will never, ever get into the credit card bind again.
We have 1 credit card which we pay off every month and do not pay any charges.
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