How much is your total debt?

[Paul Markham]

How much debt do you have?

Reading some articles about debt today in the West and it was scary what people carry. Here's just CC debt in the US

Quarterly Credit Card Debt in the United States Since 2010:[1]
Q2 2011: $771.7 billion
Q1 2011: $764.0 billion
Q4 2010: $810.2 billion
Q3 2010: $790.8
Q2 2010: $801.1
Q1 2010: $811.9

Add the car and mortgage and that's scary.

So how much is your CC debt?

[baddog]

I have not owed money on a credit card for probably 10 years now.

[Paul Markham]

Originally Posted by baddog

I have not owed money on a credit card for probably 10 years now.

Makes two of us then. Stupidest way to borrow money ever.

Reading some posts here I think some might have too much debt.

[Sly]

$800 billion divided by 250 million adults is $3,200.

[CurrentlySober]

Zero

8char

[96ukssob]

i looked at this and thought there is NO way most the people here have no car or house debt... didn't see it was for CC debt

[Farang]

No CC, no car, no house debt. Nothing, ever

[CYF]

I have a mortgage, but no car payments. I normally carry a 0 balance on the credit cards but just had some dental work done. Root canal, cavity, cleaning and x-rays. It went on a card.

[Roald]

about $200 on the CC which I had to use to book a hotel online. Besides the occasional online payment I hardly ever use the CC. Waste of money looking at the interest rates on it.

[Rochard]

I don't have credit cards - haven't since 1997 or so.

I have two friends of mine that I love to quote as the perfect example of what went wrong during the recession. They had rather average jobs and lots of neat toys, all on credit. They lost everything - their jobs, their house, their toys, and their dignity... And son of a bitch, a few years after their bankruptcy they are back at it again - two new motorcycles and a $40k used Vette.

The only thing we have on credit is our house.

I've recently discovered the joy of used cars. Remember that car you dreamed about as a kid? That Monte Carlo SS, that Corvette your neighbor had, that Camaro.... They are all dirt cheap now. I bought a used truck - A Chevy Stepside - for $2k, did $2k of repairs, and then a cheap paint job.... Some of the repairs I did myself. Now I have a truck that is like brand new for $6k - Much better than getting a loan for $25k for some Kia or Toyota.

[BlackCrayon]

i have a few grand on a credit card. i used the card for capital to expand my business. probably not the best way to go about doing it but it worked and its mostly paid off now.

low interest car loans are to blame for the current increasing household debt. most people have mortgages, and don't typically count that towards the debt but some people are taking on two car loans, multiple credit cards and line of credit loans.

credit card companies are to blame in some manner as well. sure, everyone should be responsible and not use credit cards unless an emergency comes up but unfortunately most aren't that responsible and constantly upping the credit on cards automatically is a dirty trick they use to get you trapped in debt. thankfully that is now against the law in canada. they can't up the limit unless you request it.

[arock10]

CC debt a whole lot different then debt, confusing title there Paulyboy.

I ran balances back in the day when I started in adult, buying traffic, sites and making money. Haven't had any reason to run balances for years though, it'd be by far the highest rate making it the first thing to be paid down

[campimp]

CC = 0

mortgage, well that is a different story

[AlexFS]

Absolute 0.

[BIGTYMER]

Zilch. CC's were paid off a few years ago.

[sarettah]

I have about a gazillion dollars in debt but it is ok cause I have like twentyfinity bucks in the bank


.

[Barry-xlovecam]

Not more that I could pay off at any moment these days.

[pornguy]

We have 2 credit cards and both are paid at the end of every month

[theking]

I have zero debt of any type. I have one credit card which I use when I want to buy something that is on line and if I use it...I pay it off every month.

[Scott McD]

Nothing on the CC, but we do have big ass mortgage payments!

[L-Pink]

I owe no one anything. Zilch, zero. I have a couple debit cards with large limits, no credit cards. No car, house loans. All I owe is upcoming utility bills.

Part of this is just living a different lifestyle part is because there is no positive value for money only a negative value. By this I mean cash will earn you virtually no interest but a cash debt still carries high interest charges.

If you have cash then debt/interest is foolish. The best return you can get for cash right now is to never pay interest.

.

[Makaveli]

Not a damn thing currently.

[Grapesoda]

Originally Posted by Paul Markham

How much debt do you have?

Reading some articles about debt today in the West and it was scary what people carry. Here's just CC debt in the US



Add the car and mortgage and that's scary.

So how much is your CC debt?

only 1 car lease.. owe about $2800

[seeandsee]

will never be under cc debt!

[Ross]

I don't count my mortgage as debt as I have more than 30% equity in my home. I have around $1200 on my Visa card because I booked flights to Europe recently and the bill isn't due to be paid yet, that'll be gone by Sept 14th. I have no balances on any of my other CC's, no overdraft, nothing.

[Freaky_Akula]

Zero debt.

[loreen]

Nothing.

[KingNigel]

Nothing.

[ottopottomouse]

My credit card is just a way of spending money i've got without carrying the cash around - online/petrol/anything big in a shop. Paid off at the end of every month. I wouldn't call it a debt.

[Chosen]

Nothing

[NewNick]

I met a guy this evening in a bar in Amsterdam.

His company owned property spread across seven countries worth $4bn in 2006.

Today the portfolio is worth $1bn.

They company owes $2.2bn in mortgages against the portfolio.

He was in Amsterdam to negotiate with the banks.

I have never met a guy with bigger bollocks.

His job was to tell the banks to take a hike.......

[x-rate]

I use my credit card to get points only. Most of time I buy something on it and make a transfert right away from my bank account on the card.

[- Jesus Christ -]

Those of us with no debt always end up being punished and shoulder the burden for the sea of morons around us who are in debt.

There is no free market.

[DVTimes]

Originally Posted by Paul Markham

How much debt do you have?

Reading some articles about debt today in the West and it was scary what people carry. Here's just CC debt in the US



Add the car and mortgage and that's scary.

So how much is your CC debt?

talking of depts, has damian payed his money to your charity yet?

he seems to have stoped posting on this forum when he lost his bet.

i guess he has not the cash.

[fuzebox]

It's been a long time since I owed anyone anything.

[Brad Mitchell]

Shit I had more credit card debt than that when I graduated high school. None now, but I've read the average household had about $25,000 or so.

If you ask me the Feds should have paid out and cancelled everyone's cards for a trillion and then added some real credit rules. My guess is then the banks could have eaten the loss on the mortgages. Instead, we are all still fucked as a nation.

Brad

[VenusBlogger]

so MAGICALLY nobody in GFY has CC DEBT... STRANGE and HARD TO BELIEVE.

BTW, if you know how to use it, there is nothing wrong with it, you get points, discounts and such and you dont lose money with any interest shit if you know how to PROPERLY use a CC.

But I hardly think most people here own a TRUE CREDIT CARD (not the paxum/payoneer or whatever)...

TRUE CREDIT CARDS are not being given away to anyone.

For example freelance webmasters in some countries could NEVER EVER GET A TRUE CREDIT CARD because the issuing BANKS REQUIRE YOU to have a FIXED MONTHLY INCOME from a company... showing your CCBILL STATS or checks are not enough to get a CC...

yeah yeah, now some idiot HERE that says he doesn't use the CC ever, will tell me that he can easily get 56356536536356 different credit cards. FUCK YOU ASSHOLE.

Most people here like to show off and saying: "im the most richest in planet, i convert at 1:1 any sponsor, my sales are 425445 per hour and i have no debt because im superior, smart, prettier than brad pitt and most famous than a hollywood star.."..

Fuck you SHOWING OFF FAKE asshole.

PIRIOD.

[Spunky]

I pay it off every month

[trustedrevenue]

not a single cent

[Paul Markham]

You guys are doing well.

[baddog]

Originally Posted by VenusBlogger

so MAGICALLY nobody in GFY has CC DEBT... STRANGE and HARD TO BELIEVE.

BTW, if you know how to use it, there is nothing wrong with it, you get points, discounts and such and you dont lose money with any interest shit if you know how to PROPERLY use a CC.

But I hardly think most people here own a TRUE CREDIT CARD (not the paxum/payoneer or whatever)...

TRUE CREDIT CARDS are not being given away to anyone.

For example freelance webmasters in some countries could NEVER EVER GET A TRUE CREDIT CARD because the issuing BANKS REQUIRE YOU to have a FIXED MONTHLY INCOME from a company... showing your CCBILL STATS or checks are not enough to get a CC...

yeah yeah, now some idiot HERE that says he doesn't use the CC ever, will tell me that he can easily get 56356536536356 different credit cards. FUCK YOU ASSHOLE.

Most people here like to show off and saying: "im the most richest in planet, i convert at 1:1 any sponsor, my sales are 425445 per hour and i have no debt because im superior, smart, prettier than brad pitt and most famous than a hollywood star.."..

Fuck you SHOWING OFF FAKE asshole.

PIRIOD.

Hey, dumbass, not everyone on GFY responded. I have zero CC debt because once I eliminated that problem I stopped buying things I could not pay for. I pay for flights and hotels and my cell phones with a CC, but it is set to auto-pay every month for the full balance. I never see it, it just gets paid.

I watch people charge their groceries and I cringe.They will never be out of debt. Once I realized that CC's were not my friend I brought them down to one and I never use it as a credit card.

[VenusBlogger]

Originally Posted by baddog

Hey, dumbass, not everyone on GFY responded. I have zero CC debt because once I eliminated that problem I stopped buying things I could not pay for. I pay for flights and hotels and my cell phones with a CC, but it is set to auto-pay every month for the full balance. I never see it, it just gets paid.

I watch people charge their groceries and I cringe.They will never be out of debt. Once I realized that CC's were not my friend I brought them down to one and I never use it as a credit card.

really and how is it all automatically SET to AUTO PAY?? Strange... do you have robots to do everything for you?

if you want to cancel something, you must PAY IT.. with your money..

its not being cancelled automatically..

You put money in your bank account, and you pay your credit card.. nothing is done automatically...

unless you have robots working for you.

Or are you those rich fuckers who never have a PAPER BILL in your pocket and you do all electronically? WTF DUDE?

[CYF]

Originally Posted by VenusBlogger

really and how is it all automatically SET to AUTO PAY?? Strange... do you have robots to do everything for you?

you can set that up through your CC company's website. Both of the cards I have allow you to do that, it's not magic

[papill0n]

Originally Posted by VenusBlogger

really and how is it all automatically SET to AUTO PAY?? Strange... do you have robots to do everything for you?

if you want to cancel something, you must PAY IT.. with your money..

its not being cancelled automatically..

You put money in your bank account, and you pay your credit card.. nothing is done automatically...

unless you have robots working for you.

Or are you those rich fuckers who never have a PAPER BILL in your pocket and you do all electronically? WTF DUDE?

cant tell if serious

[sojproductions]

I have some CC debt, not alot, i did use them about 7-8 years back to an extreme and it got a bit out of hand, UK banks were offering me £15k limit cards, it was stupid, I now have 2 and I can bounce the balance at 0% interest for 9 months at a time, I bought a new bike on it, interest worked out better, i have plenty of equity / assets so managed correctly CC debt isn't all bad. Just gotta keep an eye on them, they have a habit of changing the rules/interest overnight.

[VenusBlogger]

Originally Posted by CYF

you can set that up through your CC company's website. Both of the cards I have allow you to do that, it's not magic

yes yes, but AUTO PAY with what?... with another CC??..

I guess you mean with a bank account...

BUT STILL, you need money to pay that... and to have money, you need to go to your bank and put money in the account, or DO SOMETHING to put money in the account..

unless you are a millionaire who has 2 million in his account and uses it to AUTO-PAY EVERYTHING for the next 10 years...

Are you that guy?

[StariaDaniel]

Don't have a "real" credit card either, just using a debit card for payments that need to be made by cc. Car is on a lease, all accounts in the black, no mortgage - guess I'm fine

Originally Posted by VenusBlogger

so MAGICALLY nobody in GFY has CC DEBT... STRANGE and HARD TO BELIEVE.

Maybe the ones with debt just didn't reply?

Originally Posted by VenusBlogger

But I hardly think most people here own a TRUE CREDIT CARD (not the paxum/payoneer or whatever)...

TRUE CREDIT CARDS are not being given away to anyone.

For example freelance webmasters in some countries could NEVER EVER GET A TRUE CREDIT CARD because the issuing BANKS REQUIRE YOU to have a FIXED MONTHLY INCOME from a company... showing your CCBILL STATS or checks are not enough to get a CC...

So, in your experience, if you've a steady income like 5000 USD +/- 1k per month for a year or two you think a bank would miss out to offer you a real credit card? Probably a better deal for them then giving it to someone with a 9-5 job that pays half of that ...

[AllAboutCams]

$4200 bank 1
$5000 bank 2

[papill0n]

Originally Posted by StariaDaniel

Don't have a "real" credit card either, just using a debit card for payments that need to be made by cc. Car is on a lease, all accounts in the black, no mortgage - guess I'm fine


Maybe the ones with debt just didn't reply?


So, in your experience, if you've a steady income like 5000 USD +/- 1k per month for a year or two you think a bank would miss out to offer you a real credit card? Probably a better deal for them then giving it to someone with a 9-5 job that pays half of that ...

just so you dont waste too much time man, the guy you are replying too is 100% crazy

[CYF]

Originally Posted by VenusBlogger

yes yes, but AUTO PAY with what?... with another CC??..

I guess you mean with a bank account...

BUT STILL, you need money to pay that... and to have money, you need to go to your bank and put money in the account, or DO SOMETHING to put money in the account..

unless you are a millionaire who has 2 million in his account and uses it to AUTO-PAY EVERYTHING for the next 10 years...

Are you that guy?

Wow, you're dense. Auto pay simply means it comes out of your checking account on the due date.

btw my magic robots are called direct deposit, but I do have some checks that I have to bring to the bank. The flying carpet auto drives me there though.