UrbanBaby - Poll: Do you have credit card debt? If...

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Poll: Do you have credit card debt? If yes, how much?
36 replies
- New York City
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04.15.08, 07:55 AM [ Flag ]
- nope
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  04.15.08, 07:55 AM [ Flag | link to this post ]
- 1k
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  04.15.08, 07:56 AM [ Flag | link to this post ]
- $150k
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  04.15.08, 07:56 AM [ Flag | link to this post ]
  - fake
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    04.15.08, 07:56 AM [ Flag | link to this post ]
    - I wish it was fake
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      04.15.08, 07:58 AM [ Flag | link to this post ]
  - are you $200k mom?
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    04.15.08, 07:58 AM [ Flag | link to this post ]
    - wouldnt she be 150K mom?
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      04.15.08, 08:04 AM [ Flag | link to this post ]
      - she might have other debt in addition to cc debt
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        04.15.08, 08:06 AM [ Flag | link to this post ]
- 25K
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  04.15.08, 07:57 AM [ Flag | link to this post ]
- no - thank goodness. Have had around 10k in the past and may build some up in the next year, but now, no.
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  04.15.08, 07:57 AM [ Flag | link to this post ]
- We pay off every month. So, no balance.
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  04.15.08, 07:58 AM [ Flag | link to this post ]
- 8K
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  04.15.08, 07:58 AM [ Flag | link to this post ]
  - ditto
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    04.15.08, 08:00 AM [ Flag | link to this post ]
    - Do you have savings? Would you dip into savings, i.e. sell stock to pay off or just leave savings alone and try to pay off?
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      04.15.08, 08:02 AM [ Flag | link to this post ]
      - no I would not dip into savings to pay it off
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        04.15.08, 08:07 AM [ Flag | link to this post ]
        
        That's what I'm thinking.
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        04.15.08, 08:12 AM [ Flag | link to this post ]
        
        are you making more on your savings than you are paying on yoru debt?
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        04.15.08, 08:16 AM [ Flag | link to this post ]
        
        I hate to admit this, but I really don't know the answer to that. I assume I am paying more in interest than I am making in the stock market, but I just don't watch my savings very carefully. But, I'd also have to consider the tax implications of sel selling stock, ie. capital gains/losses.
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        04.15.08, 08:18 AM [ Flag | link to this post ]
        
        aye. don't you keep anything in a bank account??
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        04.15.08, 08:18 AM [ Flag | link to this post ]
        
        No, that's the problem. We're going through our income much more quickly than ever before (two kids, tuition, some unexpected expenses) and have built up the cc debt
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        04.15.08, 08:20 AM [ Flag | link to this post ]
        
        stock is far different than "savings"
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        04.15.08, 08:19 AM [ Flag | link to this post ]
        
        Meaning what?
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        04.15.08, 08:21 AM [ Flag | link to this post ]
        
        why? you're paying a far higher rate on the card than you're getting on savings.
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        04.15.08, 08:17 AM [ Flag | link to this post ]
      - yes, if I had the money I would pay it off and then start saving esp if I had 18% interest.
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        04.15.08, 08:16 AM [ Flag | link to this post ]
- no. first time in my entire adult life.
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  04.15.08, 07:58 AM [ Flag | link to this post ]
- Not anymore. Had about 15k but paid if of after we got married (dh didn't help- I put most of my paychecks towards it and he paid the household bills etc... until I was done).
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  04.15.08, 07:59 AM [ Flag | link to this post ]
  - well then he did help if you didn't have to spend your paychecks on groceries, heat, hot water , rent etc
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    04.15.08, 07:59 AM [ Flag | link to this post ]
- none, and we are not wealthy
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  04.15.08, 07:59 AM [ Flag | link to this post ]
- one card has some $ at v. low interest rate (like 2%). started at $8k now down to about $1.5k
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  04.15.08, 08:03 AM [ Flag | link to this post ]
  - How did you get such a low rate?
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    04.15.08, 08:06 AM [ Flag | link to this post ]
    - one of those promotions for a new card. the trick is, we can't put any other purchases on that card b/c that skews the rate.
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      04.15.08, 08:08 AM [ Flag | link to this post ]
      - Did you transfer a balance to it?
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        04.15.08, 08:11 AM [ Flag | link to this post ]
        
        i don't remember... i don't think so. i think we put something related to our condo purchase on it.
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        04.15.08, 08:12 AM [ Flag | link to this post ]
        
        Thanksf or the info.
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        04.15.08, 08:12 AM [ Flag | link to this post ]
        
        no prob. oh, and we also put the monthly payments on some automatic pay so we wouldn't forget to pay it b/c that also screws up the rate. gl!
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        04.15.08, 08:14 AM [ Flag | link to this post ]
        
        Thanks!
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        04.15.08, 08:15 AM [ Flag | link to this post ]

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Posted June 5, 2008 (50 replies)

Poll: Do you have credit card debt? If yes, how much?

nope

1k

$150k

fake

I wish it was fake

are you $200k mom?

wouldnt she be 150K mom?

she might have other debt in addition to cc debt

25K

no - thank goodness. Have had around 10k in the past and may build some up in the next year, but now, no.

We pay off every month. So, no balance.

8K

ditto

Do you have savings? Would you dip into savings, i.e. sell stock to pay off or just leave savings alone and try to pay off?

no I would not dip into savings to pay it off

That's what I'm thinking.

are you making more on your savings than you are paying on yoru debt?

I hate to admit this, but I really don't know the answer to that. I assume I am paying more in interest than I am making in the stock market, but I just don't watch my savings very carefully. But, I'd also have to consider the tax implications of sel selling stock, ie. capital gains/losses.

aye. don't you keep anything in a bank account??

No, that's the problem. We're going through our income much more quickly than ever before (two kids, tuition, some unexpected expenses) and have built up the cc debt

stock is far different than "savings"

Meaning what?

why? you're paying a far higher rate on the card than you're getting on savings.

yes, if I had the money I would pay it off and then start saving esp if I had 18% interest.

no. first time in my entire adult life.

Not anymore. Had about 15k but paid if of after we got married (dh didn't help- I put most of my paychecks towards it and he paid the household bills etc... until I was done).

well then he did help if you didn't have to spend your paychecks on groceries, heat, hot water , rent etc

none, and we are not wealthy

one card has some $ at v. low interest rate (like 2%). started at $8k now down to about $1.5k

How did you get such a low rate?

one of those promotions for a new card. the trick is, we can't put any other purchases on that card b/c that skews the rate.

Did you transfer a balance to it?

i don't remember... i don't think so. i think we put something related to our condo purchase on it.

Thanksf or the info.

no prob. oh, and we also put the monthly payments on some automatic pay so we wouldn't forget to pay it b/c that also screws up the rate. gl!

Thanks!

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What are your Thanksgiving travel plans?

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City vs. Suburbs