close

Privacy guaranteed - Your email is not shared with anyone.

Have you increased your credit card debt?

Discussion in 'Survival/Preparedness Forum' started by Dexters, Sep 23, 2011.

  1. Dexters

    Dexters

    Joined:
    May 3, 2004
    Messages:
    4,191
    Likes Received:
    3
    Location:
    ga
    http://money.cnn.com/2011/09/21/pf/credit_card_debt/

    I've always thought the most likely SHTF issue for the average person is financial - debt, divorce (split up of assets & child support)

    It looks like cc debt is increasing. I'm guessing it is because the people that are out of work for a while are buying necessities and those newly out of work are continuing their spending ways.
     
  2. boomhower

    boomhower

    Joined:
    Feb 14, 2010
    Messages:
    3,323
    Likes Received:
    2
    Location:
    North Carolina
    I just paid mine off, well will next paycheck. Ran them up quite a bit putting my wife through school but it was worth it.


    This should be a fun thread just like the last few.

    Outdoor Hub mobile, the outdoor information engine
     

  3. NDCent

    NDCent Socially Inept

    Joined:
    Mar 19, 2010
    Messages:
    4,088
    Likes Received:
    692
    Location:
    Ozarks
    Nope. We've been lucky to stay employeed and saved a few bucks over the years by living below our means.
     
  4. ArmoryDoc

    ArmoryDoc

    Joined:
    May 14, 2006
    Messages:
    4,080
    Likes Received:
    52
    Location:
    Kansas
    I use mine often but never carry a balance. I don't like wasteful interest expense. I know others can't help it though. It'll probably get worse as the months roll on and the economy convulses in impending death.
     
  5. off road

    off road

    Joined:
    Jun 6, 2011
    Messages:
    382
    Likes Received:
    1
    I only use mine for convenience, like mail order or an unforseen emergency. And, I pay it off before the next billing cycle, so there is no interest charge.
     
  6. bdcochran

    bdcochran

    Joined:
    Sep 23, 2005
    Messages:
    3,868
    Likes Received:
    635
    Location:
    Los Angeles
    Normally, I use one credit card. I use it for internet. I also use it so that I don't have to carry currency to buy gasoline and groceries. I receive "bonus points".

    Right now, I am using a different credit card on a promotion that if I spend $500, I receive 22,000 air miles. After I charge $500, then I retire the card. I just sent in payment for $500 in advance.

    I pay my credit card at the end of the month.
     
  7. TangoFoxtrot

    TangoFoxtrot OIF 04-05

    Joined:
    Sep 10, 2008
    Messages:
    4,281
    Likes Received:
    85
    Location:
    Nowhereville, USA
    Thirty years ago I ran two of my credit cards to the max and it took me forever to pay them off. Since then I'm a cash and carry person with no debt outside of normal living expenses.

    I think the problem in this country is folks love to live a champaign lifestyle on a beer salary and they don't know how to manage their finances. Instead of just teaching our kids poor values and letting them forfill their instant gratification needs, teach them how to manage their finances.
     
    Last edited: Sep 24, 2011
  8. LongGun1

    LongGun1 StraightShooter

    Joined:
    Apr 21, 2005
    Messages:
    3,637
    Likes Received:
    22
    Location:
    N E Louisiana & N Arkansas
    No credit card debt here!
     
  9. PirateLookingAtForty

    PirateLookingAtForty

    Joined:
    Dec 25, 2008
    Messages:
    188
    Likes Received:
    0
    Location:
    Sin City
    No cc debt, house bought with cash, truck paid for, motorcycle paid for.

    I don't owe a nickel to anybody in the world :cool:
     
  10. 4TS&W

    4TS&W 2A RKBA 4EVER

    Joined:
    Jul 20, 2002
    Messages:
    3,585
    Likes Received:
    0
    Location:
    here and there...
    Credit cards went away with the ex-wife. I'm not missing either one..

    Though, just before I die, I would like to run up one hell of a debt, like that one guy in armageddon. LOL
     
  11. BORNGEARHEAD

    BORNGEARHEAD

    Joined:
    Mar 3, 2010
    Messages:
    1,392
    Likes Received:
    262
    Fug that! No credit cards here.
     
  12. Stupid

    Stupid

    Joined:
    Oct 26, 2005
    Messages:
    1,218
    Likes Received:
    2
    What is credit card debt?
     
  13. pugman

    pugman

    Joined:
    May 16, 2003
    Messages:
    6,274
    Likes Received:
    479
    Location:
    Wisconsin
    I charge everything...literally everything I possibly can. Yes, I'm the guy in front of you using a card to pay for a 99 cent bottle of water. I'm also the guy when a group goes out for lunch puts it on my card and everyone gives me the cash.

    BUT I treat it like a debit card. I don't know if its the best cash rewards program but I like Discover.

    My cash back for last year bought me a new pistol; this year its up in the air but it should exceed $600 (I love the 5% months they run)

    I have never paid interest on it
     
    Last edited: Sep 24, 2011
  14. Dexters

    Dexters

    Joined:
    May 3, 2004
    Messages:
    4,191
    Likes Received:
    3
    Location:
    ga
    That is great! But, I think you posted in the wrong thread.

    The topic of this one is "Have you increased your credit card debt?"

    Obviously, from what you wrote you didn't.
     
  15. LongGun1

    LongGun1 StraightShooter

    Joined:
    Apr 21, 2005
    Messages:
    3,637
    Likes Received:
    22
    Location:
    N E Louisiana & N Arkansas

    Smart use of credit! :thumbsup:


    Turn the tables on those who would otherwise enslave you to their wares! ;) :supergrin:
     
  16. B.Reid

    B.Reid

    Joined:
    Jun 20, 2005
    Messages:
    1,795
    Likes Received:
    0
    Location:
    Montana
    No I wont run a debt anymore. Debt is slavery.
     
  17. M1A Shooter

    M1A Shooter

    Joined:
    Jul 18, 2009
    Messages:
    3,605
    Likes Received:
    1
    Location:
    Clarksville, TN
    i have a card but its still for emergencies and even though ive been out of work for 6 months, we have been smart enough to adjust our budget accordingly.
     
  18. pugman

    pugman

    Joined:
    May 16, 2003
    Messages:
    6,274
    Likes Received:
    479
    Location:
    Wisconsin
    Right.

    I'm of the line of though credit cards are a great cash management tool. I could relay my sister (who is book and not street smart) HAS drastically increased her debt.

    Her husband's job is very volatile (college football coach); friends of his have had 4 jobs in five years (but always moving up...this one in particular is finally at a DIV 1 school). He joked with my BIL, with his wife and two kids, if all their stuff can't fit into a 22' truck they have too much.

    My sister basically walked away from their house. On the market 18 months without a single offer. Its in Moorhead, MN where the weather is brutal in the winter. Even worse, MN's financial situation is so desperate and North Dakota's is so good (one of a few states with a surplus) they literally can't sell their house.

    They have it priced right now they are giving a buyer all their equity...but no one wants to touch it. You can move two miles west across the river into ND which seems like the land of milk and honey compared to Moorhead.

    I'm actually expecting her to file a bankruptcy.
     
    Last edited: Sep 25, 2011
  19. UneasyRider

    UneasyRider C.D.B.

    Joined:
    Dec 1, 2005
    Messages:
    4,011
    Likes Received:
    3
    I drive GM trucks so I always use my GM card to build up points, you get an extra 2 or 3 thousand dollars off just for the card points. We put on some debt after my wife had breast cancer 6 years ago and she was in a lets do everything go everywhere mode, it's uncomfortable until you pay it off. We are blessed with good income and good retirement savings but it still feels strange when you live above your income on a credit card. I am more comfortable with a small car loan for 3 years and payed off credit cards blowing what we don't save (we pay ourselves first) and not worrying about it.
     
  20. Big Bird

    Big Bird NRA Life Member

    Joined:
    Aug 7, 2003
    Messages:
    10,144
    Likes Received:
    1,660
    Location:
    Louisville KY
    If you REALLY believe the US currency is headed towards the monetary scrap heap and hyperinflation is just around the corner you are a FOOL if you don't max out every credit source you can access right now. Then you can pay it all off tres' easy with inflated dollars down the road...

    What's the risk? If you really believe that....