Do you have a lot of credit card debt? Are you still using your credit card?

@bayernfan (1430)
Canada
November 13, 2008 11:48pm CST
I only use a credit card for small purchases and pay my bill monthly so that I don't carry a balance. Do you use credit cards? Do you have a lot of debt? Are you able to pay off your debt? Do you currently use your credit card or have you stopped using it recently?
2 people like this
4 responses
@SeishiroX (1076)
• Philippines
14 Nov 08
I have a credit card, but the only time I used it was when I bought a Playstation 2 for my own birthday. I paid it off on 6 months' time, but it was a scary time for me. The thought of not being able to pay and incurring interest over time.. Thank god I'm done paying it.
@bayernfan (1430)
• Canada
15 Nov 08
Yeah, doing it that way means that you are paying more than the sticker price too. I always save up for large ticket items. Setting aside money before hand is much easier than doing the same thing afterwards because you are forced to. As an added bonus, sometimes waiting means that a better model or product is available later when you have accumulated all the funds needed for the purchase.
@SeishiroX (1076)
• Philippines
15 Nov 08
Yes, that's true. Experiencing the "horrors" of buying something by debt, I'm now planning to just save up money so I can buy that digital SLR i've been planning to get next year. You're right, maybe a better entry level SLR will come out by that time.
@fasttalker (2798)
• United States
14 Nov 08
I do have a lot of debt but not credit card debt LOL. I just never did use them much. I only have one and only use it when I have to and I pay it off quickly. This is a problem with a lot of people.
@bayernfan (1430)
• Canada
15 Nov 08
Yes, some people have become addicted to their credit cards. Correct me if I am wrong, but I don't think that Americans are able to walk away from credit card debt like what can be done with mortgages. I wonder how that problem is going to solve itself with more and more jobs being lost? Some people have thousands of dollars of debt on their credit cards and a stimulus check won't help them pay that off, even if those people were wise and used the check responsibly.
1 person likes this
• United States
15 Nov 08
You are correct we cannot walk away from credit card debt. As far as the stimulus check...well that's another discussion. You don't want to get me startedon that one! LOL ALthough you are right. How many people are going to use it for credit card debt when they are struggling to feed their families. So the problem still exists.
@kaka135 (13787)
• Malaysia
14 Nov 08
I have two credit cards, just in case if one can't be used, I still have another substitute. I always spend all my expenses with my credit cards, if I could. I'll pay off the balance every month, so that I don't have any debts and don't need to pay for the interest.
@bayernfan (1430)
• Canada
15 Nov 08
Yes, carrying a balance is what gets people into trouble. You sound like you are a responsible person. Unfortunately, not everyone has money sense and some are flat out incapable of handling money. It is terrible that financial institutions have been allowed to hand out credit like candy. Everyone is now likely to pay, so that some could have a "free" lunch and even fewer could become more wealthy. What a shame.
@MizzLadyB08 (1175)
• United States
14 Nov 08
i only have one credit card that is on my credit. I do not use credit cards anymore because they will and can get you in trouble if you love to shop pretty often.
@bayernfan (1430)
• Canada
15 Nov 08
Yeah, if you are a compulsive shopper, then the credit card is your worst enemy. A credit card is a helpful tool if you only use it when you already have the money to pay for your purchases. If you religiously pay off the credit card bill in full monthly, then you will be okay. Carrying a balance is what kills you.