credit card debt

[St Allie]

Was reading the "what are you doing today thread?" and credit card repayments were mentioned.

Am just wondering how many of us here use credit cards as a shortfall use of money?

I have a credit card myself with about a $14K limit.. ( they keep upping the limit, sending me mail, perhaps hoping i will use it . )

I don't actually have any money owed on it.. the card is my " get out of gaol free card" and costs me about $25 ( NZD) a year. If I needed to leave the country in a hurry, or desperately need to feed my family, for whatever reason. That is the whole purpose of a credit card for me.

If this post is too personal for you, please don't post. I am really curious as to how others use the available facilities regardless of the country they live in..

We are all living in a recession at present.

Allie

 

[Runningwolf]

Emergencies (car repairs) and Christmas only. We pay it off as quickly as possible.

 

[Green Mountains]

Only have one. Mostly used as a convenience for dinners out, travel, booking vacations. Pay it off generally monthly.

 

[Sacalait]

We use it regularly for every day occurances and pay the bill at the end of the month. No need to carry a wad of cash plus I get a little back on the purchases. The bottom line is to pay off the balance at the end of the month. Also, did you know that you can't rent a car (in the states) unless you've got a major credit card?

 

[whine4wine]

I only have one credit card and about the only time I use it is for ordering things on E-bay and such. I always pay the balance at the end of the month, so I rarely have an interest charge.

 

[summersolstice]

I have two cards since some places don't accept American Express. I use mine all the time for ordering online, booking airfare and rental cars, and for business travel/expenses. Though I have a balance to pay off each month, I try my best to keep a zero balance and I usually succeed.

 

[Midwest Vintner]

i have one and use it all the time. i pay it off by the end of the month as i have the $ as it is. i use the card because of the rewards they give from it. i get enough points to pay for most of christmas with $0 in fees.

 

[St Allie]

Credit cards have been in the news here a lot (NZ).. seems people are getting themselves in a lot of debt with them.. interesting that most who have replied here use them sparingly.

Doesn't look like the credit card companies make a lot of interest out of you all.

maybe it's because we are more of a self sufficient section of the population?

it was just something that caught my interest this week.

Allie

 

[Julie]

There are a lot of people here how has gotten themselves into a lot of debt, this all came out last year when our economy crapped the bed.

I have one and my husband has one, we use them once in a while and when I do use mind sometimes I pay it off within the month and sometimes I pay it off within two months but when I use it I do not use it again until the balance is paid.

Julie

 

[Wade E]

We have a debit card and a credit card. The credit card is for emergencies like auto or furnace or something like that but do use it occasionally as it is also needed for renting a car if yours is in the shop and it keeps your credit score up also by having revolving credit. We are very careful cause my wife did get us into trouble many moons ago with this so I watch the account closely!

 

[surlees]

I have one that I almost never use. I also have a debit card that I frequently use. With a debit card my checking account is debited immediately almost like paying with cash. Do you have debit cards in NZ?

Fred

 

[St Allie]

yes we call them eftpos cards.. and they only work if you have cash in the bank to draw on..

Allie

 

[Mud]

We're carrying a balance for the first time in 14 years. Our boiler split in October when it first turned cold and we had to replace it. Did most of the work myself, but it was still expensive. Aside from that we always paid it off monthly.

 

[Wade E]

Thats why we have our card for stuff like that, Id really like to not have to use it But I know I wont be able to swing a new furnace and the installation.

 

[bdcl1977]

Debit and Credit

We have a debit and a credit card. The debit card we use daily and carry very little cash. The credit card is for big items and emergencies. We can pay our bills on line through our credit union (free service) and pay on the credit card before the billing cycle hits. At times we pay twice during a billing cycle. This keep our credit line up which keeps our credit score up. A lot of card companies dropped credit lines amounts which dropped your credit scores. We carry over $100.00 to $250.00 at the most.