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Have you increased your credit card debt?

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

  1. Dexters


    May 3, 2004

    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


    Feb 14, 2010
    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

    Mar 19, 2010
    Nope. We've been lucky to stay employeed and saved a few bucks over the years by living below our means.
  4. ArmoryDoc


    May 14, 2006
    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

    Jun 6, 2011
    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


    Sep 23, 2005
    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

    Sep 10, 2008
    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

    No credit card debt here!
  9. 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


    Jul 20, 2002
    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


    Mar 3, 2010
    Fug that! No credit cards here.
  12. Stupid


    Oct 26, 2005
    What is credit card debt?
  13. pugman


    May 16, 2003
    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


    May 3, 2004
    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

    Smart use of credit! :thumbsup:

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


    Jun 20, 2005
    No I wont run a debt anymore. Debt is slavery.
  17. 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


    May 16, 2003

    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.

    Dec 1, 2005
    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

    Aug 7, 2003
    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....