STYLETHREAD -- LET'S TALK SHOP!

member · Hermes

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Kitty · Hermes

RE: How much Credit Card debt do you have?

Kelly · Hermes

I have no credit card debt. I actually don't even have a credit card! I need to get one soon to start earning good credit....

I'm still in college, though. So I use every last cent of what I have... so I have no debt, but no savings, either!

needsfashionadvice · Kate Spade

I currently have about $1000 but it's because of Christmas presents. I try to only carry about $100 on it or just pay off the balance every month. If I weren't married to a penny pinching man though, watch out, no telling what my bill would be!

The times I had bigger balances on it, to pay it off, I just set aside a set amount of money each month before I paid anything else and paid my bill. It's easy to pay your credit card bill last because you can vary the amount you pay so you can just pay whatever you have left over. If you make it your top priority, it really gets paid off fast.

CarrieS · Marc Jacobs

I currently have $3850 in debt, soon to go up by $230, but then there'll be a $270 payment. Confused? I'll basically be heading into the new year with around $3700 worth of debt.

Since I just did a balance transfer to a 0% (for 12 months) card, I'll pretty much be putting a lot of my extra money every month towards the debt. I want to take advantage of no APR and pay as much as I can. Goal is to have it completely gone by the end of the year!

Kitty · Hermes

I would strongly recommend looking into a consolidation loan for anyone who has CC debt. I did it recently and it really made me feel like I have control over my finances. I also cut up all my credit cards (except for one for emergencies).

NCshopper · Hermes

DH and I don't carry a balance on our one credit card. Combined, we used to have about $2,000, and we'd pay off big chunks of it every month, which actually got us nowhere because we'd run out of cash and then have to put stuff back on the card. So, last February I ended up taking some money out of a stock that wasn't doing well and paid off the card in full. It's been the best thing ever. Basically having that paid off frees up all of our disposable income, so now we're able to save even more than ever and buy things without having that awful guilty feeling hanging over our heads.

We're going to have a little bit of debt this month because of Christmas and a new muffler and new stove that we weren't planning on buying, but that will be paid off by January.

erin · Chanel

we pay our balance in full every month. i know it "looks good" for credit to carry a small balance, but i don't like that hanging over my head.

jrhampt · Kenneth Cole

I have less than $1500 on a zero % card. I have the money to pay it off, but right now it's making 4.5% interest for me in my ing savings account, so I'm not going to pay it off until the interest goes up. I also charge things occasionally on another credit card (probably about $200 this month on Christmas stuff), but I pay off that balance whenever I do.

lynnie · Chanel

i pay off my balance in full each month. I'm young (23) and trying to be pretty thrifty while i can- i know expenses just appear when you get older and start having a family. So savings are my first priority over ANY new purchase. I realize as i get older that i don't even care so much for consumption or buying things, but instead i'd like to own a few quality or personal things that i really use and mean something to me. I get sick thinking about how much i've "acquired" over my brief life. I'd rather have financial freedom, a cool designer piece each season, and be able to go on kick-ass vacations. I agree with trying to get a consolidation loan to pay off debt- the interest rates on cc's are usually terrible.

member · Hermes

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HeatherLynn · Gucci

RE: How much Credit Card debt do you have?

wicked · Coach

I pay my bill in full every month, usually $400-600 for groceries/gas/misc

Hermes

I pay in full every month too. I put almost everything on it so I can earn reward points! I currently have enough points for a ticket to Europe...

Almost 10 years ago, when I wanted to buy a new car, I decided I had to get rid of my cc debt before I could get one (which I still have and is paid off - my little Mercedes.) At the time my cc debt was almost $4,000. I reduced my spending down to practically nothing (just necessity expenses gas, student loan pmt., etc.) I brought my lunch into work and didn't buy nickle and dime things like coffee or stuff like that until I had it paid off, THEN I could car shop. I have not had credit card debt since.

I also continue to not buy nickle and dime things on a daily basis, like coffee and lunches. Those can run $10 a day resulting in a $250-$300/mo or $3,000-$3600/year expense. I can think of other things I'd rather spend money on, like a great bag!

killa · Dooney & Bourke

ZERO!! I pay mine off in full every month, too.

I basically put EVERYTHING I buy (gas, food, clothes, doctor's bills) on my credit card and have just one big payment every month. I really, really want to get a credit card with some serious rewards so I can actually reap the benefits of this.

squishy · Coach

no consumer debt. i basically use my credit cards to build credit.

i do have a whopping amount of student loans to pay off.

jacks435 · Kenneth Cole

I do exactly the same thing as killa -- no debt, and I make all my payments on one card and pay it off every month in one huge payment.

kittenheels · Coach

I pay it off every month. There were a few months after law school where I was carrying a balance from my bar trip and studying for the bar and I hated it. I learned my lesson and now try to think before I use it. I do put all big purchases during the month on it - it's easier to see how much I've been spending!

Lilykind · Hermes

as of Tuesday (when the payments go through) I will finally once again be DEBT FREE! I'm going to pay it off in full each month hereafter.

I'm soooo happy!

Bastet · Kate Spade

DH and I have zero cc debt, we pay it off each month. We bascially act like when we use the cc, the money is instantly taken out of our bank account.