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Old 07-31-2003, 09:09 AM   #1
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Credit Card Debt!

So,

I'm proud to announce that I have no credit card debt, no credit cards, no plastic no nothin!

Thought it would be a good idea 10 years ago to get a credit card to help build credit.. Yeah..

I think I was still making interest payments on the pizza I bought back in '94!


Started this month with $18k on 4 cards.

Just paid off the last one and cancelled it!

Man they really hate to have you cancel cards. They were offering 4000 airline miles, free vacation packages, no interest, higher limits......


:fu: Visa :fu: MasterCard :fu: Discover :fu: American Express :fu:

I'm afraid to calculate all the money I paid in interest over the years!
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Old 07-31-2003, 09:15 AM   #2
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Re: Credit Card Debt!

Quote:
Originally Posted by 99vert
:fu: Visa :fu: MasterCard :fu: Discover :fu: American Express :fu:
LMAO
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Old 07-31-2003, 09:23 AM   #3
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Congrats man! I know its hard to fight off those stupid impulse buys when you have plastic.
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Old 07-31-2003, 10:47 AM   #4
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I got Visa and Mastercard. No debt here.

Pay them off ever month,.
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Old 07-31-2003, 10:56 AM   #5
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Crap... I've got 2 cards, Visa and Discover. Total of about 1700. I'm hoping that I will have that paid off this month.
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Old 07-31-2003, 11:00 AM   #6
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Biggest purchase i ever made on my card was about a grand.
Then just paid it off.

I dont use them unless i have the money to pay it off
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Old 07-31-2003, 11:19 AM   #7
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Seems you have the right frame of mind charles!

When's the wedding?
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Old 07-31-2003, 11:25 AM   #8
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Charles.... Vacation = easiest way to screw yourself over.

Thats mostly from what those bills are from.
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Old 07-31-2003, 03:39 PM   #9
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Re: Credit Card Debt!

Quote:
Originally Posted by 99vert
So,

I'm proud to announce that I have no credit card debt, no credit cards, no plastic no nothin!

Thought it would be a good idea 10 years ago to get a credit card to help build credit.. Yeah..

I think I was still making interest payments on the pizza I bought back in '94!


Started this month with $18k on 4 cards.

Just paid off the last one and cancelled it!

Man they really hate to have you cancel cards. They were offering 4000 airline miles, free vacation packages, no interest, higher limits......


:fu: Visa :fu: MasterCard :fu: Discover :fu: American Express :fu:

I'm afraid to calculate all the money I paid in interest over the years!
You need to call Dave Ramsey up
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Old 07-31-2003, 03:49 PM   #10
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i have between 25-200 bucks on my credit card, but only if i know i can pay most if not all of it off before a month goes by.

right now 175$.

i pray i never get into that much debt with credit cards, glad to see you're out though. hell i'm only 20 anyways.
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Old 07-31-2003, 03:50 PM   #11
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you shouldnt actually ever cancel credit cards. just cut them up and throw them away, but not cancel them.

one of the ratings on credit is how long you have been with a credit card company... or commitment legth (like applying for a job. you dont want to skip around all the time) if you will. when you cancel them, it shows up. but you can actually improve your credit rating by just cutting them up and not cancelling your card. you should look into that in time. i wouldnt apply for a card after cancelling 4 for at least one full year. to keep your credit healthy.
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Old 07-31-2003, 04:52 PM   #12
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I've got like 3 cars, which I don't even carry around in my wallet.. I locked the *****es away under a book case, at my house - out of sight... Good to have them for rainy days, but not carry around in your wallet.
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Old 07-31-2003, 05:16 PM   #13
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Every 3 months my Credit Card limit goes up just cuase i pay if off all the time.

I can spend like over 25000 dollars or something like that
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Old 07-31-2003, 05:24 PM   #14
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Yeah but the only problem with keeping a credit card open and you have a large credit line is when and if you go to get another type of loan (ie...car or home loan) then it shows that you have credit in your name, they go off of how much credit you have opposed to how much your income is..... I just paid off a bunch of cards I had and cancelled all but 2 of them and then I was able to get my personal loan for my car.....
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Old 07-31-2003, 05:57 PM   #15
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i owe about 5500 on mine
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Old 07-31-2003, 06:58 PM   #16
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god dman.
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Old 07-31-2003, 08:38 PM   #17
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Quote:
Originally Posted by Monkey
you shouldnt actually ever cancel credit cards. just cut them up and throw them away, but not cancel them.

one of the ratings on credit is how long you have been with a credit card company... or commitment legth (like applying for a job. you dont want to skip around all the time) if you will. when you cancel them, it shows up. but you can actually improve your credit rating by just cutting them up and not cancelling your card. you should look into that in time. i wouldnt apply for a card after cancelling 4 for at least one full year. to keep your credit healthy.

That's some good information.

I had one, the Visa for 11 years, the AmEx Blue for about 3 years, the Discover came with the Wife (6 yr account) and the MC was about 2years old..

But, I have a trump card... H O M E O W N E R..... pretty much will get you anything you want. If you have been able to get trough the mortgage process, they will give you anything!!!!!


But I did mislead you all.. I still have a regular AmEx card, the type you have to pay off each month.. The balance due tomorrow is only about $1600, but we use that for everything.. Gas, groceries, clothes...
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Old 07-31-2003, 08:43 PM   #18
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dang ken. You must make phat cash.
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Old 07-31-2003, 10:55 PM   #19
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Credit cards are a good tool, use it for everything and pay it off every month. For the young guys, don't carry a balance!!!! Sure you can get that cool CAI but if you carry a large enought ballance you can end up paying for twice and that bites.
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Old 08-01-2003, 12:36 AM   #20
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i'm sittin at 3000$ or so in credit card debt (thanks MOM) and 7,500$ in college loan debt... the creds should be payed off within 2 - 3 months though, but my credit will have to be rebuilt... i'm consolidating my student loans, so i'll start paying that in september... but if i get this new job, i'll be able to make monthlies on all this and still buy car parts

woo haa!
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Old 08-01-2003, 09:20 AM   #21
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Quote:
Originally Posted by darkling
i'm sittin at 3000$ or so in credit card debt (thanks MOM) and 7,500$ in college loan debt... the creds should be payed off within 2 - 3 months though, but my credit will have to be rebuilt... i'm consolidating my student loans, so i'll start paying that in september... but if i get this new job, i'll be able to make monthlies on all this and still buy car parts

woo haa!
good luck.
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