Credit card debt is something I try to avoid at all costs because the interest rate can pile up each month that the debt isn’t paid in full. I’ve learned to treat my credit card like my debit card so that I can avoid overcharging.
Agree. I believe it is recommended (and just smart) to pay off your balance in full every month. If you can't do that, then you're spending too much on your card!
I have way to much debt because one I have overindulged in helping out family members and 2) my daughter is irresponsible with money
@Olga, it's always tough when it comes to helping out family. Have you done anything recently to set healthy boundaries?
Approximately what % of your credit card limit should you have charged?
@Melissa – There are many articles that cite 30% as the "right amount" to aim for when it comes to credit utilization/usage (one such article: http://bit.ly/2NHDXhR).
Keeping credit utilization low and paying off your credit cards before their due date also factor into your credit score. Keeping it low also helps make paying off your card more manageable! At least in my experience.
I'm a beginner
I have heard 30% to 35% credit utilization/usage. I like to use my credit card to get gas so I can pay it off on time easier.
I have heard 30% to 35% credit utilization/usage. I like to use my credit card to get gas so I can pay it off on time easier.
Oooh, this is one of the expenses that I like paying for with my credit card too, John!
Using less than 30% of overall and individual card limits is best and also it is very important to keep paying the full amount month after month to build a solid payment history
Credit card debt is a huge waste. Do you realize that using a credit card means you are still paying for a pizza you ordered in 2018?
I am trying to dig myself out of credit card debt this year with the Avalanche method. I really want to make a big dent into my debt by the end of the year.
I am trying to dig myself out of credit card debt this year with the Avalanche method. I really want to make a big dent into my debt by the end of the year.
Go, Roberta, go!!
I'm using the snowball method to tackle my debt. I also have this method where once I paid off one student loan, I use the money I would've used for it and put it towards my next loan.
Thank you ! I am determined to get out from my debt this year!
I am trying to get out of credit card debit right now as well. We ended up using more than we thought we were going to have to during a move. Thankfully all of them are working with me to get everything taken care of. And when income tax comes in they are being paid off.
The key to credit cards is self-control and discipline! I love using my credit cards to buy EVERYTHING I can with them (that doesn't charge me an additional fee) because I build up points and rewards. I typically pay my credit cards off every week or two to be sure I don't carry a balance, and never spend more than I can afford to pay off right away. In the end I benefit with $100's in rewards each year for spending what I would anyways. :)
The payments of the debit card become a lot easier nowadays. IVA is available now which freezes all tax and interests. The debt relief order can be easily done using IVA. It is also giving you legal protection.
I would live to pay off my credit cards but since the Pandemic started, I’ve had to use them more to help with other bills and groceries. I’ve taken a cash advance from one of my credit cards which will cost me more for the credit card.
I would live to pay off my credit cards but since the Pandemic started, I’ve had to use them more to help with other bills and groceries. I’ve taken a cash advance from one of my credit cards which will cost me more for the credit card.
What have you used your cash advance for?
I used the cash advance for daily living expenses and to pay bills. It seems my utilities have been higher since the pandemic and eventhough they may not be disconnected we will owe the balance due in full once the covid 19 is over.
I have a low interest credit card with about 2800$. Is it better for my credit score to make the minimum payments or pay off completely? If I pay it off I would have no credit cards with a balance. 
My main focus right now is paying off old credit card debt, I’m currently using the snowball method
I had credit cards for over 10 years and never kept a balance and then life happened and I swear I have a balance on every card I have. I am now trying to use the snowballing method to pay down all of my cards. My goal is to be out of credit card debt in 18months-2years. We wont even mention the student loan debt. rolls eyes My daughter is going to college and I am drilling into her head the importance of low to no loans and no credit card debt. If you get a credit card in college, cut it up, put a cell phone bill on it and auto pay it!
I would recommend not carrying credit card balance as their interest rate are very high.
I'm currently trying to pay off my balance before the 0% APR period ends on my cards.
