jods

How much do you owe on Credit Cards now - Repost with Poll

Leslie

Its all mine!

Les

SunnySideUp

When I was a kiddie I put some car things on my card, couldn't pay it off ... ended up paying interest on interest on interest on interest - lesson learnt, not paying off your CC is a mugs game.

I never, ever, let any balance remain on my cards - in fact, they now pay ME for using their card ... worth a few hundred ££££'s a year to me

Cocker

iTrader: (3)

Hate to say it but i had a bit of a moment last year so have about £1850 currently on 0% till December. I have the money to pay it off in savings but enjoy earning 1% interest

nik52wrx

I'm very strict regarding credit. At the moment my credit card has a whopping 272 quid on it thanks to my new shed purchase this morning.
Naturally this will be paid off when the bill lands on the door mat

j4ckos mate

dont owe anything at all to anybody,
other than house mortgage, (which is about a third the value of the house.

thats half the reason were in the mess we are in, people overstretched in an uncertain world.


heres another hot tip for you as well.
dont borrow money an a depreciating asset.

Julio Jordio

Without sounding like a ****, I'm in the lucky position of not owing a penny to anyone. I dont have a mortgage, I dont have a single credit card, loan, or even an overdraft. I've gotta say, it does feel bloody good!

However, I did I learn my lesson as a youngster the hard way, ran up some cards in college and in my early twenties, and had to work extremely hard to get them cleared, which is something i'll never do again. It held me back from doing the things I wanted to at that stage in life, and it made me see what a fool I'd been.

I'm now 25 and saving a deposit for a Mortgage, so i'll spend my next 20-30 years paying that off. Life is just one big repayment to someone, somewhere or other isnt it? lol.

jonny_693

iTrader: (5)

I owe nothing on C Cards, in fact don't even have one.

yoza

I dont have one either....I had a couple maybe 6 years back and was forever in hock buying high value items and just paying the minimum off the card.

My limit of £6000 and £4000 and was reached within weeks of getting the cards, I am better off without them as I am a buy it now worry later type person.

PaulC72

0 zero nothing and so on.

used for car hire etc abroad thats it really oh and any electrical things we buy purely for the protection but always gets paid off.

GlesgaKiss

Zero.

richiewong

What's a credit card?

"If you can't afford it, you ******* don't need it!"

mike h

iTrader: (10)

You'll never work hard again?

I was credit card free for around 8 years. The wife has a whopping debt on her card so I got one to transfer her balance onto.
Ended up she kept her debt and I got happy with the card, now about 1K (mostly scooby related ). Disposed of the card now.
Problem with cards is that it's too easy to spend. If I had cash in my hand I'd hang on to it, credit just looks like numbers untill you have to pay it back.

J4CKO

iTrader: (1)

Nothing to nobody, for anything !

Fabioso

Anyone who funds their lifestyle on a credit card is a mug........I always pay off the full balance every month and only use credit cards for the legal protection it gives. Credit cards and the forever remortgaging brigade are the main reasons why this country is in the financial **** we are now.

I know people who have the financial intelligence of an ant and its why they are in the **** they currently are........

mykp

I buy petrol on mine, then it gets paid off at the end of the month. learn my lesson in my 20's as well.

Had the flash car, flash clothes, flash tv, flash everything really but also had a huge headache every month. Paid it off and now if I cant afford it I dont have it until i've saved up.

nik52wrx

Ok try and hire a car in Malaga airport without one. They don't accept cash and there is no way i would use a debit card as it doesn't carry the same fraud cover as a credit card. There is nothing wrong with credit cards as long as they are managed correctly.
I actually make money on my card as each time i spend i earn points which convert to vouchers at the end of the year. As i pay mine off every month i don't incur interest charges therefore i'm up on the deal. Couple of hundread pounds of vouchers at Christmas time come in very handy

cookstar

iTrader: (6)

As of Monday, I/we will owe zero on anything, I have paid off £20k of credit cards in little over a year.

Feels great now though to have nothing owing apart from mortgages.

What really hurt was most of the money owing on C/Cs was for parts of a car I now no longer own. You live and learnn though.

Spooky Mulder

Zero - made a decision 10 years ago not to use credit cars and have not owed a penny on them since. I use a charge card for business expenses, all paid off everymonth.

Ved

Zero. I use mine for work and fuel which I tend to get all paid for from my work mileage.

pimmo2000

iTrader: (6)

Like say a washing machine ??

Dental bills ??

Car repairs ?

I haven't (luckily) needed to use the CC but that statement is a bit

njkmrs

Use my card for convenience ,cash back and security when buying .

This month spent about 6k on bedroom furniture,insurance ,towards car purchase and fuel .

But I only spend what I know I can pay off at the end of the month without incurring charges ,cos thats for Mugs .!!!

Although in the past when the need arose I did cop for charges ,when no other option was available ,but thats a last resort .

DJ_Jon

iTrader: (7)

I don't "own" anything with a credit card

97TURBO

Should have mine paid off by next month and to be honest i only use them for Holidays or in case of emergency.

fatscoobfella1

iTrader: (1)

£0...

Never had a credit card in my life...

You can live perfectly well without one,so why complicate your financies ??.......

If you have an income of 2k a month,the idea is not to spend it all..Then you will never need "credit"..

nik52wrx

Its not all about needing credit. If you buy off the internet credit cards are recommended for the cover they offer against fraud etc.
I for one can't manage without one for that reason alone and i'm not in debt.

Petem95

That poll is totally misleading! There should be a catagory for 0 and then £1-1999, so 69% of the people who have responded the poll might owe nothing or might own up to £1999!

I always use cashback credit cards which are great if you don't borrow on them. Get paid for spending, and get to build up your credit rating!

coolangatta

I'm not sure how the credit card companies make a profit
If NSR is anything to go by, not a penny owed

fatscoobfella1

iTrader: (1)

All electrical items that i buy i get from John Lewis..Pay with cash..

That way,i actually have a shop i can return faulty items too,recieve top customer service and be 100% positive that i will be sorted out..

Better than giving your credit card details so somebody you have never met,then if a problem occurs you have to return your goods to some ramshackle warehouse in the middle of Birmingham.

People that do that need there bumps feeling..

I could of course be missing the point,but if i go into a respected dealer and pay with cash,what fraud implications could i get into ? Why/how would a credit card be better for me..?

Jamz3k

Most threads like this are only answered by the ***** Wavers of NSR imo

But to break that mould last year i earnt 50% more than I did the previous year so naturally for the first time in my life i got myself into debt (figure that out!!!) so i went from never being in any real debt to having just under 4k on credit cards and 4k left to pay on a loan and now i'm unemployed and couldn't give a **** about paying it back until i'm back in a job, I'm not worried about my credit rating being ruined as i'm not planning on using credit again nor do i think i'll own any properity for the next 5/10years.

Really the moral of the story is, earning the most i've ever earnt turned me into a **** who couldn't stop spending and got into debt.