Christmas Credit Card Debt

well i spend almost $500 cuz i had to give an expensive gifts for my cousin. well i spend $500 but i got like $900 gifts. almost.
bye!!!
=) =D :oP :]

2007-12-25 18:45:10 by Over The Rainbow

www.moneypulpit.com Make this the merriest Christmas of them all. Then, next year, buy all the junk your neighbor's went into debt for this ...

I have acquired about $4000 in credit card debt (christmas shopping included). I have decided to not become dependent on credit cards any longer. I have decent credit and originally applied for the cards (3) in order to establish credit, but it has gotten a little out of control. My plan is either to pay it all off in 6 months and learn to save for the things that I want or put myself in a personal monthly payment plan (budget) which will take about 12 months to be paid off. I still want to keep the accounts open for building credit score purposes. Any suggestions are greatly appreciated.

Pay it off as fast as possible because you are accumulating massive interest on that! If your interest rate is 15%, you're paying about $100 a month in interest! The faster you get it paid off, the less money you'll spend. There are calculators available online where you can see the difference between your plans. Both are good, I like the second one best.

https://privacyassist.bankofamerica.com/calculator/PayoffCC.html

http://cgi.money.cnn.com/tools/debtplann er/debtplanner.jsp

BTW, your idea of saving for things you want, is an excellent idea, and it's too bad more people don't do it. Sounds like you have the right idea.

2007-12-03 15:12:00 by Red Velvet Cake

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I like to use my credit card because it has rewards. So, I'll use my card then immediatley pay it off and collect on my rewards. Each dollar I spend, I get 3 points. I can redeem the points for things like gift cards, home furnishings, vacations, and things like that.

i always pay the credit cards off when i get my tax return. this coming year i once again am telling myself i will not use them-yeah right!

2007-12-26 06:02:41 by casey_leftwich ?????

ONLY LIBERALS DISAGREE WITH THE PRESIDENT

It's un American to live within your means. I'm VERY patriotic :)

2006-12-11 10:53:27 by 43

After this friday I will owe about $1100 on credits. I am 20 years old and I do have a job and I know I need to cut them up, but it is a hard. Anyone else out there going thru credit card debt and any good solutions, without cutting them up? or is that my best bet?

First off, pay the smallest balance off first. If the balances are about the same, pay the one with the highest APR first. Save $20 per paycheck -- put it in savings and DO NOT touch it. Then, when Christmas shopping season rolls around next year, leave the credit cards at home. Take the money out of your savings acct. and shop til it's gone. After that, start baking fudge or banana bread or making nice cards.

We NEVER use credit cards for Christmas gifts. And when January rolls around, our budget doesn't change -- and no stress is involved. It's all a matter of discipline. Best wishes and Merry CHRISTmas!

2006-12-18 19:23:56 by jennisea04