Skip Nav
Automatically Enrolled in Your Company 401(k)? Here’s What You Need to Know
Transformative Career Advice From 1 of Kate Spade New York's Boss Ladies
8 Female-Led Podcasts to Fire Up Your Professional Life

Your Two Cents: Do You Have Any Credit Card Debt?

The median credit-card debt of those aged 18 to 34 earning low- and middle-income is $8,200. Are you carrying any?


Join The Conversation
bellaressa bellaressa 8 years
subtleheights---that is great! Congrats. Since you have one card left can you send in any extra money. What I was doing for a while ---is I would send in a little extra when the bill was due and then next time I would get paid I would send in more but not that much. I made it a game somewhat --yea I know weird. Say one card is 480... you send in 80.00 the first part of the month and then towards the last of the month you 50.00. I was always making sure to pay everything to whole numbers and in denominations of 10s.
subtleheights subtleheights 8 years
any ideas on how i could pay that down any quicker?
subtleheights subtleheights 8 years
I have had about 20,000 in just credit card debt. it was a lesson learned of course. not that i was not forewarned about being responsible with easy credit. i am paying off the little balances first. knocked off 6 of them recently. now its the BIG balances i have to worry about now. i am looking at another two years to fix that. i will not own another credit card once i am fixed. i now know the importance of having a good credit score and living within my means. it not worth the headache.
bchicgrl bchicgrl 8 years
I don't pay with credit, too risky and already went overboard in college (luckily taken care of) and I have a car payment, cell phone and utility bills but that's about it.
melizzle melizzle 8 years
No card debt. Just student loans and a car.
mlen mlen 8 years
i have like 500 bucks worth of debt- so i know that isn't too bad- and i'm working to pay it off! i know it seems like a minimal amount to be carrying but of course i just had ot pay 500 bucks towards fixing my car- so that's why its still outstanding! it was at like 3000 severla months ago- so i've made large progess in paying it off. its my own fault- i always paid everything in full until last fall when i took a trip a little above my means and did a little too much shopping- but thats ok, i've paid everything off in full since then and i've almost gotten it back under control. my credit record is pretty good anyways
runningesq runningesq 8 years
GlowingMoon -- I think you misunderstood me! I was asking about people who don't have ANY credit cards -- not the people who have credit cards and pay them off in full each month. I didn't ask: "for those of you who don't carry a balance..." Obviously, having a credit card and paying the balance in full each month is the best way to go. (LOL)
GlowingMoon GlowingMoon 8 years
"To those of you that don't have credit cards --- are you building your credit in other ways? .." Uh, of course. We pay off our credit card balance every month. On time. We also pay all our other bills on time. Our credit is sterling. Our fico scores are off-the-charts high. I'm not exaggerating. Carrying a credit card balance is not the only way to build credit. LOL
bellaressa bellaressa 8 years
After Aug, all I will have to pay off is my medical bills.
shanimalcracker shanimalcracker 8 years
I have never carried a balance. :)
snowbunny11 snowbunny11 8 years
hm- awww I fly between NYC and LA to visit my fiance, and I would save like $6k in student loans throughout the next three years if I didn't do that, but it is so worth it to me!
snowbunny11 snowbunny11 8 years
runningesq- haha good point. When I worked at Pier 1, a woman came in and was like, "I just need to buy some plates, or whatever, and open a credit card because I'm trying to get a mortgage for a new beach home, and I have never used a credit to buy anything before." It was like she was being punished for paying everything in full! I guess she had a sizable income, but she was told to open a credit card and pay the bill off for a couple months to prove she was capable of paying debts! However, I think most people who take out credit card debt get stuck because they can't pay $500 a month back, or even if they think they can, something comes up. I wonder if the people who never buy anything they can't pay for have any student loans, or have taken out mortgages or car loans! Sheeesh! That being said I have close toa $2k balance that I've carried way too long, and I'm paying it off this week!! Yay! Except, I'll have like $90k in debt for law school loans at the end of three years. Ugh.
facin8me facin8me 8 years
Mr. Facin8me and I are happily credit card debt free! We barely even use out credit cards, except to make internet purchases. Everything else we pay cash for.
geebers geebers 8 years
Never have had a balance - and when I DID carry it- it was on my 0% APR for a year card (that I paid off before that). My mother never carries a balance and thanks to her I have always paid my cards off. I also budget and know when I can or cannot afford something.
hmcmcd hmcmcd 8 years
yes, I had always been the type to pay off my credit cards every month, but now, thanks to my stepson living in France, our credit card is always carrying a balance :( We bring him here every three months, so as soon as we pay off the 3 roundtrip tickets we have to buy another round of them. It frustrates me a lot to have the debt, but then I figure it's just money and the relationship between him and his father is far more important.
gigly_grl gigly_grl 8 years
Got my first credit card at 18, never had more than one at a time, and have NEVER carried a balance. I'm a firm believer that one doesn't put anything on a credit card that they can't pay for outright... I honestly only use it because of the points and to build credit, otherwise I'd just use debit :P
cotedazur cotedazur 8 years
runningesq, I was thinking the same thing - my parents encouraged me to get my first credit card when I turned 18 in order to start building credit. For those of you that don't have one and don't trust yourself to stay within your limits, think about getting an AmEx... if you don't, you're going to have a hard time or wind up paying higher rates when you need to get loans later in life.
runningesq runningesq 8 years
To those of you that don't have credit cards --- are you building your credit in other ways? .. I have $2,300 and paying $500 from each paycheck towards it! (it was much higher -- $7K -- that was a loan for kitchen remodeling
graduatedsqueaks graduatedsqueaks 8 years
Don't have credit card debt, and hope never to have credit card debt. But I have hefty student loans, and am thinking about buying a car (and don't quite have enough in savings to pay cash).
carhornsinapril carhornsinapril 8 years
not anymore! i paid it all off this year, and it feels great to be done.
ilanac13 ilanac13 8 years
i do have just a little residual debt from a few years back. i actually cut up all my credit cards a few years ago cause i don't believe in them. now i just use my debit card and my amex since one is cash in a card form and the other HAS to be paid off every month. i'm sooo close to getting it all paid off and then i'll have the BIGGEST weight lifted from my shoulders.
OhFish OhFish 8 years
No but I've never had a credit card (phew!). I do always think of getting one when the holidays roll around!
psterling psterling 8 years
My husband and I both had credit card debt of about 6K combined, but we make a point to pay it off before we got married in May. Now we're serious about keeping our purchases in check and have built a little nest egg for ourselves.
andrealocke andrealocke 8 years
The only debt that I have are my loans from school. I don't have a credit card for the sole purpose that I only want to spend what I have (even though I can do that with a credit card and pay it off, I'd rather not have the option).
wednesday_adams wednesday_adams 8 years
Paying it off next month! Now we're down to just our house and student loans, which feels pretty good.
Sexiest HGTV Star of 2016 Poll
What to Say When Asking For a Lower Interest Rate
How to Avoid Bank Fraud Scammers
Tips For Getting a Better Credit Score
From Our Partners
Latest Career & Finance
All the Latest From Ryan Reynolds