How Deep?

[Oldboy]

I don't understand how someone can be 6 gs in CC debt. That is just plain irresponsible in my opinion. I am not mocking you or anything but I just can't comprehend that. I have 3 CC but pay them off every month. So no debt for me.

Everyone is in debt in some way. Anyone who buys a car or a house is in fucking debt. No one is above it.

[Blues]

Thanks for the advice Massy. I know that good credit is a must have, creating the ineveitable need for me to get my own card. When I do get one, I'll be sure to post my thousand dollar debt when I get it.

[DJ2xTech]

None.

I use a debit card.

I'll probably need to get a CC soon.

[steven]

$0...

i only got a debit card

sucks when you have no money and something hot releases... like the bxh preorder

[2000dB]

Everyone is in debt in some way. Anyone who buys a car or a house is in fucking debt. No one is above it.

Buying a house or a car is a big purchase, it's not like you run into a house and put it on your credit card. While still debt, it's much more controled than some random kid's CC debt because he bought too many pairs of pants at the mall.

Oh, and I don't own a car or a house yet... so I'm totally debt free for now

[sidneylo]

Seriously, having good credit lets you in some doors. And having good credit means actually using and owning a credit card.

So true. I guess I thought my mom was crazy for giving me a credit card at 17 and telling me it's for my own good--I just used it for shit that I needed on occassion, but now that I got my own grip on things I have good credit and by the time I'm in my mid-twenties I'll have an easier time going for bigger/better things.

[stillthehorror]

none. payed my last credit card off two months ago.

student loans is another story.

[jwied82]

Ive never have a credit card myself. I use my debit card for everything, and my way of thinking when it comes to spending is, If i dont have the money for it it my bank account right now, i shouldnt be buying it.

i do have a car payment i make every month, but it will be paid off in about a year.

And i am waaay deep in debt to my university and the federal goverment as a result of student loans. Those things sucks. Im paying like $220 a month on student loans, and i will be for a long time

[ak]

had a CC once maybe a year ago, raked up a 1000K bill right before tax return time then BOOM paid it in cash before it was even due, then closed the account. At the time I needed a credit rating to be eligable for a mobile phone plan.

[fg0d]

had a CC once maybe a year ago, raked up a 1000K bill right before tax return time then BOOM paid it in cash before it was even due, then closed the account. At the time I needed a credit rating to be eligable for a mobile phone plan.

1 million? In what currency?

[RAISED BY WOLVES]

I can't get a credit card at the moment, cause unlike alot of people on this board, I have not got myself a college education yet. As soon as one sets foot on a college campus, the offers begin. But try being a twenty three year old who has worked on and off the books for 5 years with a modest income, and a fixed address. Its a no go. What I will have to do is get a secured card, which basically means you "buy" your credit. Shit is weak. But in America, one needs to build credit, and the only way to do that from where I'm at is with one of these fuckers. It's a bit of a catch 22 really.

I don't understand how someone can be 6 gs in CC debt. That is just plain irresponsible in my opinion. I am not mocking you or anything but I just can't comprehend that. I have 3 CC but pay them off every month. So no debt for me.

I know many people who have had or have debt at this level or further. On the one hand it can be looked at as irresponsible, on the other hand, depending on your income, a certain amount of debt is considered "healthy". Loans, stable credit card balances, and Mortgage payments are the type of things that banks, and creditors look upon favorably. Debt of this nature shows that you are a responsible member of socety well entrenched in the ways of the system, who will continue to buy, continue to owe, and continue to pay off at a regular rate. What the lower level card companies bank on is that you will encounter financial troubles along this path, and that is when they come out from behind the nearest tree and club you with incredibley high APR's.

What I'm getting at here is that of course their are irresposible spenders, but many of those I know with debt use their cards as leverage towards career advancement and future success. It's a risky gamble, but in the world of freelance, it is sometimes the only option, and I hate to say it...but I've seen it pay off REALLY well. Any creative type who is not real wealthy to start will deal with this...It's just life.

I anxiously await my turn....

[shoreman1782]

$1500 and I don't think a dime of that was directly on clothes. Computer equip, car repairs, airfare, car rental, that kind of stuff. Also have a car loan, but that'll be done this spring. And those who don't pay rent/bills yet can fuck off. I had more disposable income at 19, when I was living at home and housepainting, than I've had since.

[seenmy]

had my credit card since i was 18,never hold a balance on it just pay it off at the end of the month,on the occasions ive over spent or gone a bit wild I might switch some on to my student over darft as its 0% so the debt in there is just like free money for 5 years,soon as its time to pay off il pay back out my savings.

student debt from loans is another matter but again its different kind of debt so il worry about/pay it back when im earning,or hopefully move out uk and not have to pay it back thats the dream i guess lol.

thing with CCs is they only work for certain people if you not responsible/and or smart with your money and know how to move things about to your advantage they will suck you in,uk you are activly encouraged to get in to debt on the things and its made stupidly easy once you have one the offers roll in for them.

[Blanc0]

I don't understand how someone can be 6 gs in CC debt. That is just plain irresponsible in my opinion. I am not mocking you or anything but I just can't comprehend that. I have 3 CC but pay them off every month. So no debt for me.

Like I said, I'll be able to pay it off and more when I get my tax return. It' s only been 6 g's for a couple of months (holidaze drove that in a big way). Plus it's the card I share with my wife, so really it's not that big of a deal. I'm also a grown man that knows how to deal with my money properly.

[Brienneoftarth]

I racked up 7 grand in credit card debt b/c my parents didn't supply me with any cash in college, and even though I always worked an either full or part time job, my spending habits, or mainly those of my upper middle class freinds, warranted some credit. That said, i probably only made like 3 grand in actual purchases and cash advances, but racked up nearly 4g's in interested and fees cus i was basically drunk for 2 years straight and never paid the goddamn thing. ALAS! i paid off every red cent this january. took me six months of throwing every other whole paycheck on it. now I only use my debit card so if im broke, then i dont get anything. I should say that I have zero savings, so after about 6 months of japanese denim, buzz ricksons jackets, redwing boots etc etc etc I am enrolling in a ubs investment account. I'll be living on 100 dollars a week of spending money starting feb 1st.

[Brienneoftarth]

yes, i should say shoreman, that pretty much my entire income which is in the midlle range 5 figures, is disposable as Im a grandmas boy for the time being and I only pay a very modest rent. I will offfically fuck myself off .

[xcoldricex]

don't spend money before you have it, save money for emergencies. credit card debt is mad stupid especially if you can avoid it by being responsible.

using credit cards is good - just pay the shit off every month. i've gotten free plane tickets lots of free money, and not to mention good credit which will help me out in the long run for loans/mortages/etc.

[onemancult]

i owe a 100 on one, zero on the others.

that's that.

credit card debt is for losers.

[djrajio]

No credit card debt. Credit cards are very useful and essential for the economy and there's nothing wrong with spending money you don't have now GRANTED that you can expect the cashflow to come in the future. Credit card companies hate it when you pay off all your monthly balance and basically thrive off the ones that just pay the minimum every month. With interest, any outstanding balance can really blow up in your face before you know it.

[werdtoyourmoms]

everyone in debt: check out this thing on john maeda's website:

http://www.maedastudio.com/2006/credit/index.php?category=all&next=2006/versus&prev=2006/darfur&this=credit

[notesee]

Can't say I have a CC, although I need to get one soon so I can build up good credit. I've just been using a debit card, but I'm a workaholic during the summers and I make enough money to support my clothes shopping for the rest of the year.

[KyleFall]

$2500 and no way to pay it off. my living expenses are almost as high as the amout i make. any ideas ?

[SuSu]

$2500 and no way to pay it off. my living expenses are almost as high as the amout i make. any ideas ?

avoid shopping themed forums.

[London]

absolutely zero

[theetruscan]

How do people end up with such huge debts?! why not just stop spending if you know you can't pay back? I'm not posing a judgement, I'm genuinley interested in knowing.

Personally, I always pay off my CC. My debit card doesn't work here, so I just use my CC and pay it every morning.

Hmmmm, racked up 1.5k CC debt moving to start school after being unemployed. Paid it. Racked up 3k CC debt when BA lost my luggage in Europe in mid-trip and refused to pay it. I was doing fancy things and NEEDED nice clothing, so a suit, few shirts, trousers, shoes, ties, etc and yeah . . .

Normally run up 1-3k debt at the end of season sales and pay it off through the season.

Never run up much more debt than I have in an emergency fund. But, my CC charges 0 interest for some reason, and I'd rather have available cash than pay it off quicker.

[surfed57]

^No interest with 1.5K in debt?

What card do you have?

[the_state]

i think it's at like $2-300. I'm gonna try to get that scratched out by the end of march.

[destructodisk]

I got my CC when I enrolled in college last year, and just only now started using it. It's really nice now that I have a job and know what to expect income wise at the end of the month, and I gauge my spending that way.

I usually only use it for gas, food sometimes, and mebbe the ocassional superhot piece of cluthing.

I had $500 I needed to pay off late January, but I payed that shit off like whoops pow surprise so now I can save up money over the next couple of months and be BIG BALLIN in NY.

[datasupa]

Even at 15 years old, I....

suddenly everything makes sense

But, my CC charges 0 interest for some reason

doubtful.

[Contingency Plan]

Zero. There's always risk involved in spending money you don't have.