The average American has $15,310 in Credit Card debt

Probably try to get a $50K/yr job and apply half my earnings to the debt.

I also have $35K in my Roth IRA, so if shit got really bad I could withdraw it pay the debt.

We really didn't learn much better from our parents/grandparents generation. In some ways it was by CC abuse, but most of the time it was the stupidity of the people who don't understand that you have to pay that debt or at least pay the balance in full every month you use it.

>there is nothing wrong with credit if you can make your repayments on time
there is nothing wrong with credit if you pay your bill in full every month thus not incurring interest charges. there is something wrong with having $15k in revolving debt at a 15% interest rate.

I don't feel too bad anymore about being a NEET with 0 debt.

Don't listen to him.

Company CLI policies are tied to balance maxes and repayments.

While stated income is important, the biggest deal maker is if you can pay off a balance.

True, but @$15k on average, there is clearly a problem of overspending on credit.

A person with $15k of CC debt should be making well over $100k a year to justify such a debt. This is my opinion, but a sound one.

The average salary in the USA is somewhere around $30k. So obviously there is a problem.

if you make well over $100k a year, why would you need to have outstanding revolving debt? and if you do make that much and need to borrow $15k, you can probably do it a lot cheaper than using a credit card.

Because dumb college kids decided that a CC was the same thing as having a grant. They used "their" money to buy new cars and partied all the time.

>tfw the only debt you have is student loans and that wipes itself out in another 14 years regardless of how much you pay off
>tfw never owned a credit card
Apart from my student loan which is barely real. I won't borrow money to buy anything.

>Have like $24.00 in CC debt from taco tuesday and half a tank of gas

feels good man

>loans and that wipes itself out in another 14 years

>student loans

You already fucked up.

This. Student loans only over the cost of classed. Everything else is on you.

What's it like being 19?

You have enough to pay your debt and you wont? wtf man

>not understanding how Roth IRAs work
>not understanding how balance transfers work
>not understanding how taxes work

why would he pay debt that's at 0% interest?

Most people live paycheck-to-paycheck and incur credit card debt when that idiotic strategy collapses on them.

I know plenty of people in crazy amounts of (non-student-loan) debt, and it's virtually always because they were lazy. Case in point, I know a few people with shit credit scores because they didn't pay utility bills in a prior apartment and can't be bothered to go back and pay it now because "fuck them got mine" or something.

>put $15k on the card
>3% rewards program
>free $450

I pay for almost everything with my cards.

Many people get trapped with debt, and then it becomes a type of "new normal" to them. I used to work with a girl who would put a few grand worth of Christmas presents on her card, then pay it off over the year. If she planned right, she could just save some money all year and dump it on gifts in December. But no, she couldn't plan that far ahead. Most people just suck with managing their money.

i owe $800 on my cc with 0% interest and it still stresses me out. I would kill myself if I owed 15k

I don't even have a credit card and I'm 30. I just use a debit card. To be honest being bombarded so much with spam from places like my own bank, usaa, etc with "get this credit card" shit that it has really scared me from them because I can't help but think of how much they end up scamming people. I know it's probably an overblown fear but still so sick of the spam.

medical bills

It's pretty easy to do

People refuse to live within their means. People refuse to adjust their lifestyle when the money runs out. This is the main reason and it's preventable, but think of the average person. Accountability is out the window.

Yo Nate wat up

get your info right bruh.

average american HOUSEHOLD has $5,700 credit card debt. Average debt for balance-carrying HOUSEHOLDs is $16,048.

so for you to say the average American has $15,000 in cc debt is just so wrong. The average american has something like $2,850. In the households that carry balances consistently, of course the number is higher and they are trapped in the vicious cycle brought on by their ignorance. But don't think this is as common as "the average american has $15k in cc debt". it's not.

here's another source claiming the average american between 18-65 has $4,717 of cc debt so idk where you got 15k from. time.com/money/4213757/average-american-credit-card-debt/

What scares me is lately I keep on seeing such "easy ass loan with an app" sort of ads like people learned nothing from the recent economic bubbles.
Oh yeah this def plays a big part of why people go bankrupt, fuck our healthcare system.

>people learned nothing from the recent economic bubbles
"Hey man, if it wasn't a safe idea, they wouldn't let them show it on the TV".

Which card? Best I can find is 2% (citi and fidelity)

I got another one in the mail today >JUST !!!!!

Gah they won't leave me alone!

I have about 3k of debt and I could pay it all off right now but I am doing the monthly payments because I want that sweet sweet credit.

Americans spend $40 billion caring for their lawns per year and Credit Card debt surprises you?

you really think making small payments vs paying it off all at once helps your credit?

stupid americans have been tricked

All that 0% Apr for 15 months sounds like a sweet deal. I'm getting my 4th credit card because of that. I use it in times where I'm not certain about the past and near future but I know in the long run I'll be fine. My CC usage is about 2% of my total credit. I think people get them and max them out as soon as they can. I use them to buy things for that sweet 1.5% Cashback on anything, and 3% on amazon prime purchases. I pay my balances as soon as the credit spent is reflected in the balance.

The 3% cards usually limit that 3% to specific things like gas or groceries. Then it goes back to 2% for everything else.

2% is the norm now.

What's interesting is the blonde listing in. What is she thinking? Could she take advantage of the situation and pounce on the dick? Who knows bite fuck the cunt glaring at you for what was said . The girl next seat is what your looking for.

>currently about $600 in CC debt from a vacation
>$500 more in collections status from a couple of hospital visits over two years (one was constipation, the other was cutting myself) --
>can't figure out how to pay the hospital charges. I have the funds. Whatever.
>gummits paid for all my education for a bachelors degree

>tfw graduated NEET living with parents

Consider me the "anomaly".

Don't do that. Simply using the card and then paying it off is all you need. Not fucking up is the goal.

I use my debit card 90% of the time and have an 808 rating.

I have 12k on my cards at an introductory rate of 0%. Why the fuck would I pay it off?

I dunno. I don't even like using my credit card because I prefer to deal in money I know is there, even if I know I'll have no issues paying off the cc.

Wow you literally have no idea how your credit score works do you?

think of all those rewards points bro

>CC debt
>Student loans
What do you think this is? A board game?

I owe 400 in credit card debt.

About 6k in student loans that I've almost paid off. Honestly I could've paid off the credit card ten times over but they keep "declining" my bank payment for some reason so I literally emailed them and told them to stop being dickheads and allow my bank to pay and that I wouldn't submit any more payments until they fucking fixed it. They want their money, they can utilize the customer service they pay for to fix the problem.

I do ot to increase my credit score and save a fucking assrape in interest. +/- 12k on 0% apr cards and a few sub 3% cards i got because my 45p credit score. Now sub 700. I will sign up for more 0% apr introductory cards and move the balances for a few years until credit score is near 800. Get new home loan or refinance, then cancel all but about 4-6 of the best cards. Use them to fix my 40 or 50 credit score hit.

Contonue life buying and building assets and yoyoing my credit score 700+.

Some things u do to build welth hurt your vredit odly enough.

*maxes out 6 credit cards for down payment on quadplex

>muh credit

>borrowed to 100% limit. Get a 7th and probably 8 or 10th card to cary a 30% or so balence on and help force credit score up over 750 again.

Refinance quadplex to pay off credit cards or downpayment on another asset.

Etc.
Most faggots (like i was) rack up debt because its a ponzi scheme u cant get out of. Most of us are always broke because school teaches us to be mindless worker drones and at a point u feel you "deserve" some shit even if u cant afford it. But credit card teaches u normiefags u can afford it aftor all!

>not understanding basic personal finance

>the entire middle and lower class

>mfw

>3k on my CC which I keep on there to build up credit
Keeping a balance on your cards does nothing for your credit. In fact, it lowers your credit score.

Just set it to autopay in full each month. Or don't, and keep wasting money on interest and reducing your score.

Lesson i got from someone making 7 figures.

Get introductory 0% apr cards
Use and keep just under 30% max of limit on it. So example 1,000 limit, keep $299 on it.

Use 1 or 2 cards like this in one month. 1st month bill comes, pay the minimum. 2nd month comes, pay it off and swap cards a few months.

This tricks the card companies into thinking u are a feugal user that pays his bills, but not in full.

The every month game is changing.

Time to adapt.

Gl anons.
Oh, move balance to 0% apr cards every year or 2 but dont close other cards.

Get assets to cover eventual credit card purge and hit to your credit report.

Then the credit card companies be sucking your dick at 2 percent chump change interest rates with rewards.

Open spam

Take out return envelope

No postage necassary if mailed in usa

Tape to cardboard box full of +/- 50 pounds of rocks.

Tape envelope to box

Profit.

I do this alllll of the time.

75% spam reduction in 1 year.

As a troll i have started signing myself up for shit in hopes i get soammes by whiever they sell my info to.

Trolling people irl

This is my dream

>I can't help but think of how much they end up scamming people
Look, I... okay honestly, when I say this I'm not just making fun of you or trolling.

That is fucking retarded. That thinking is absolutely fucking retarded.

I'm 22, have only had one job (back in summer 2013), have around a $33,000 combined credit limit, all my cards are no annual fee, and since I got my first card about 2 years ago I've received... probably $500 in cash back, maybe a little more. I have never paid interest. I have never paid any fees, of any kind, whatsoever.

If you set your cards to autopay in full each month (every bank allows you to set this up online) and only pay for things you can afford (basically, treat your credit card like a debit card - once the purchase is made, the money is gone), you will never pay anything and only collect rewards.

"Credit cards are a scam" is only true if you're a fucking idiot. You've made it to Veeky Forums, so I can only hope that you're less of an idiot than most retards on reddit.

>I really enjoy wasting my own time
Just google "credit card offer opt out" or something like that, there's a US government website where you can explicitly opt out of all offers. Companies will stop sending you "spam" for credit cards.

Stupid americans have been tricked.

Cleared up 2 small problems on credit report and gather half a dozen cards and put a balance on to NOT pay off every month.

Credit score 450 to 750

Refinance my home to pay off shit debt.

Save litteraly 10's of thousands of dollars a year in interest and late fees
Go back to mexico eurofag

see
Carrying a balance HURTS your score AND you're just throwing away money on interest. You are just completely wrong.

Example: I have 0 income, 9ish credit cards, somewhere over $30k in available credit, and a FICO around 750. I have never paid even one cent in interest.

>I pay my balances as soon as the credit spent is reflected in the balance.
... why? Why wouldn't you just set it to autopay the balance every month?

Because if you don't, the interest is backcharged for all your purchases at the end of the intro period?

>I prefer to deal in money I know is there
Literally boomer cancer mentality

>then cancel all but about 4-6 of the best cards
There is literally no reason to do this unless they're cards with annual fees.

>6 maxed out credit cards for a downpayment
How the fuck did you get approved for a mortgage with 6 maxed out cards??

Yeah well, i enjoy keeping my snapchat fans happy and days like today i am at work. 7am-5pm. I have to be here.
Only 15 minutes of work came in.

Litterally paid 10 hours to do 15 minutes of work and shitpost all day.

Annnnnd there is more work.

Fuck...

>Use and keep just under 30% max of limit on it.
Anything below 10% is the best for credit score, but the absolute highest boost to your credit score is 1% utilization. Note: utilization will show even if you don't carry a balance, so there is *literally* no reason to carry a balance.

If anything people ITT about carrying a balance was true, I wouldn't have a 750+ FICO, $30,000+ total credit limit with zero income at 22 years old. I've never carried a balance. I've never paid fees, of any kind. I've received somewhere over $500 in cash back in the last two years, even though my total yearly expenses are extremely low.

Is English not your first language?

this

carrying a balance is dumb as fuck. you can boost your credit score by increasing your credit limit and keeping your utilization rate low.

source: I use my credit card for everything to get mad points and I autopay the balance before getting charged interest and my credit score is bomb as fuck.

They are or will be. Introductory 0%apr then have shit interest or a big annual fee. Might keep them. Depends.

Small town bank i been doing business at since litterally 5 years old.

Think the loan chick is into me.

I can get a loan approved with pretty much a rubberband and a paperclip

Always go to bank overprepared with a business plan.

6 maxed out cards. Well sure user yar credit score is over 750 and u nevar late.

Get house, 6 months later refinance and kill card debt.

Not sure how things work in the real world but ill find out when i outgrow this place.

Probably just cancel 90% of cards and use equity in properties every 6 months to purchase more property

No, and spellcheck is kill. 1st world problems...

>medical bills
Only if you're a lazy shit because every time a patient leaves I have to give them the whole 'if you can't pay go see the finance dept and fill out the no money form for the state'
And if you have a chronic problem and don't have insurance then you can go fuck yourself for being a retard.

>mfw this was my exact line of thinking and exactly what I did

I only signed up for my first CC because they were giving out coupons for a free pizza if you signed up. Not making excuses or trying to shift the blame, but god damn those CC companies know how to milk their target demographic

It's probably not really 0%, he'll have to pay a fee of around 4-5% of his balance to transfer the debt once his promo period runs out if it's not paid, and if he doesn't transfer the card's normal rate kicks in which could be as high as 29%

>I only signed up for my first CC because they were giving out coupons for a free pizza
God, you're dumb.

NEET all my life, 0 debt.

btw company's don't like to hire people with 0 debt, this usually means a person doesn't care if they lose their job, and that makes company's nervous.

Yeah I'm sure my fear of them may be a bit overblown as I said. I just dunno if I really should get one especially in my current situation.
While this would be nice the ones I get them from are mostly my bank (wells fargo) and my car insurance provider (usaa) and I really can't go pissing them off. Now for other random discover cards or whatever yeah I could consider this.

It's another bubble waiting to burst.

Well, most of the time i give them a chance. I call or email services i use one time and request no more spam.

After that, the game is on.

If im super lazy i draw a super offemsive picture and tell them to stop spamming me. And of course fill the envelope with glitter. And any other non harmfull trash i have at hand.

Well the whole glitter bomb thing now that's just feeling bad for probably the really low ranking worker just trying to get by that opens that.

Well, I know I at least goofed up trying to kickstart a business on credit because banks don't loan to small businesses. I'm finally making headway on paying that down though.

Exactly how is this "bubble" going to burst?

not one bit interested in your broke ass . gif

>Because if you don't, the interest is backcharged for all your purchases at the end of the intro period?
No they aren't you retard.