Who here has credit card debt?

Hey.

Just curious guys.

Who here has credit card debt? If so, how much do you have? And any ways to reduce it?

MANY THANKS!

-Adrian

 

I've advised someone on this before. If you have CC debt it might be worth your while to transfer the balance to a different card provider who has an introductory grace period of 0% interest. This will stop your debt from accumulating interest. Once the grace period (usually 6 - 12 months) expires, repeat and rinse.

 

i thought about this too.
i have no debt actually but...
will companies stop offering you a grace period?

 

Shouldn't do. You'll maintain your credit rating as long as you keep making the minimum payments - there's even a little flexibility with that regarding missed payments and things like that.

 

But they charge you a flat fee of like $39 for a balance transfer

 

Not all of them. Credit is a big business and a lot of companies are only too willing to take on your debt free of charge.

 

I have about $1k in credit card debt. But I am slowly paying it off and I hope one day to fully pay it.

 

1,000 is not that big of debt, you can pay that off easily.

 

May be in NZ, but in US, you have to have credit card, and use it every time you can. all you have to do is pay back on time.

If you have good credit in US, a lot of things (car loan, mortgage) become much cheaper. And you never know what will happen (lost job, family need money), so a huge credit line is always a good thing to have.

 

my bad, I was searching for http://www.google.com/search?q=New+...s=org.mozilla:en-US:official&client=firefox-a

and NZ just pop up when i type

 

I am the same... I have a Visa debit card and so I can't get into dept

 

I had a CC debt about 2 years ago from Gambling, it was taken care of then.
That is when I learned never gamble with your CC, it's really annoying when you are paying the bills because you feel like you are paying for nothing.

 

I have no credit card or debit card (except this visa gift debit card thing). So no debt for me.

I don't even have a bank account anymore, since my parents transfered all my money and closed it.

 

yeah keep moving your credit card debt to different credit card companies offering 0% interest whilst y ou work on replaying the debt. ive been there dude. debt isnt a nice thing to be in so i feel for ya.

 

No, I don't have credit card debt, and if you want to reduce the debt you have, these are the things you do:

1. Don't borrow money.......for anything.
2. Save your money instead of borrowing.
3. Pay more than the interest payments each month. Always pay down the principle.
4. If you have a high interest credit card with a large balance, transfer the balance to a 0% interest card if you can and pay down the principle.

 

Don't worry, things will get right when you grow up