1000

 

[QUOTE]Originally posted by kadeshpa
Its actually a good thing to carry a balance at times and pay off over a few months.

 

$0

 

u people with $0 balances are lucky!

 

$0

 

Not luck, skill.

 

[QUOTE]Originally posted by ICEMAN666
Tritium_pie,

I don't think your strategy is unreasonable, provided that you are able to erase all or most of the $4K debt from your credit card by June.

 

At my worst point I had about $11,000 on credit cards (this was about 12 years ago), with what I was earning and with mortgage payments etc, it took me about 4 years to pay them off (i transfered them to an unsecured loan and cut the cards up).

These days, because I have to put a lot of money through my CC for company expenses I spend about $6-7,000 per month on my CC, but pay it off every month ... and I get airmiles from it as well, and have enough airmiles for a return flight to Vegas later this year

 

Any where from 0 to at most I think ~33,000. I use my credit cards as bridges for buying and selling classic cars so it goes up or down. That and I get mileage bonus that I can convert into cash at home depot.

I think that in one year I had run up well over 100K in purchases but had spent only around 500 or so in finance fee's due to a low rate and only carring the balance for a short period of time until I could resell the car or convert it to a conventional loan.

Credit cards have there purpose, the increase in my credit score from having one becase I am so young has helped me on several occations get a much better rate then I would have every expected.

But I can definitely see the temptation to overspend, I get offers in the mail for cards pre approved for over 30K sometimes 5-6 times a week. I keep thinking that if I took them all, cash advanced them, that I could buy a island somewhere in the south pacific.

 

Or cash advance them all, say you have a gambling problem fiel bankruptcy and have like 400K in cash in a breif case in a locker somewhere1