What’s is you current total balance on your credit cards, your total limit & what your payoff plan/goal is

I had a balance of about $52,000 on four cards where the limit totaled $60,000.

Now I'm down to owing about $15,000 with the same credit lines and two with zero balances and not being used (but still open).

I use an AMEX Platinum with no preset spending limit for everything except my mortgage. This equals around $4k/month. I pay off any balance every two weeks.

Have a few other cards with probably around $30k combined limits that I never use for anything.

Better now wrote:

I had a balance of about $52,000 on four cards where the limit totaled $60,000.

Now I'm down to owing about $15,000 with the same credit lines and two with zero balances and not being used (but still open).

20 trillion and counting. No plan to pay off, for this would be impossible. If we tried there wouldn’t be any money left in the system. All money is debt based, meaning without debt there would be no money. fractional reserve banking

Wow how long did that take to get this far? Good for you to work that off. I know it must of been hard. Keep going I have faith in you.

There is no need for the federal government to pay off its debts ever because its income always rises over time and it never plans to retire.

Never used a credit card, probably never will

For me, it was selling a house that I was renting out for years that helped pay down debt.

Life in general over that time lead to the debt but I always had a growing asset to offset it.

Debt is relative to income and to assets and where you are in life or your career.

You can't look at debt alone and know a person's position.

Better now wrote:

There is no need for the federal government to pay off its debts ever because its income always rises over time and it never plans to retire.

Budget deficit is what happens annually and results from spending more than you make. This has happened EVERY YEAR since 2001. I have to ask, were/are your parents as stupid as you are?

Anyone whose income rises at all for any reason should be able to spend as much as they want?

You are talking out your arse, which is practical cause no one can understand you with that stupid mask on your face.

Stupid little pawns.

Better now wrote:

There is no need for the federal government to pay off its debts ever because its income always rises over time and it never plans to retire.

I just showed this to someone else. Both of us are howling with laughter at how obscenely stupid this is.

Explain this to your bank the next time you do t want to make a payment .

117,000 on 12 different cards.

Pay minimum on each as I am still paying off student loans.

Total 180,000 limit so I can still use some to pay off others.

Living the american dream.

Will file bankruptcy when all credit available is gone.

Hardloper wrote:

Never used a credit card, probably never will

You probably should, if anything just to establish better credit for a more favorable mortgage in the future...there’s also the points. I paid for my honeymoon mostly in points and plenty of other flights since.

Kind of a moot point now but I don’t mind building a balance of points when things open back up.

I have three credit cards. Two with very large credit lines that I hardly use except when making bigger purchases. One only has a credit limit of $1,000. That's the one I use the most. It's for all the everyday purchases and purchasing things online. They tried to raise my credit card limit to $4,000 but I told them no! I only want it at $1,000. Took them awhile to realize I was adamant about not having my credit line raised. Why? In the case of credit card fraud or the card gets compromised due to a security breach they only have a $1,000 limit to use. Yes, you can probably get everything recovered but I would rather just have $1,000 to deal with instead of a card that has $30,000 to try to sort out. I also pay off every card each month. I never carry a balance.

.InjuryProne. wrote:

Hardloper wrote:

Never used a credit card, probably never will

You probably should, if anything just to establish better credit for a more favorable mortgage in the future...there’s also the points. I paid for my honeymoon mostly in points and plenty of other flights since.

Kind of a moot point now but I don’t mind building a balance of points when things open back up.

The borrower is the slave to the lender.

You don't need credit cards, just the modern super power of common sense, a budget and a will to live beneath your means. Your debit card is insured just as well as any credit card. No millionaire sits around and says "Gee, I really made it big on my points".

I've been dumb and made stupid, uneducated fiscal choices so I'm as guilty as many others. But I learned that in my world, debt is dumb. It's nice being debt free with an emergency fund, kids are through college debt free and on their way, investments are building and giving is fun!

Ramsey vs Kiyosaki.

I have 5 credit cards for a total of $65,000 available.

My balance on 7/1/20 is $12,400 total.

Payoff plan is $2K a month until I have zero debt at the beginning of 2021.

No student loans (paid), no healthcare remaining bills (paid).

After I'm done with my CC debt, I want to save for a downpayment!

I’ll tell you one thing. If I’m ever diagnosed with terminal ‘anything’ I’m going max out those cards until my final breathe.

I just use creditcards for hiring cars or at hotels.

Always make sure I never get any debts on the cards because it is a waste of money.