Credit Card Debt

[pastorables]

For some time, I have wanted to start a discussion on credit card debt. Literally millions of people face credit card debt yearly, with some being literally thousands of dollars in debt. I saw a Christian show the other night where a young man testified to one time being $30,000 in credit card debt. He started paying his tithe and honoring God, something he had been previously unfamiliar with and God blessed him by bringing him into a situation to triple his income. He was able to get out of the credit card debt within just a couple of years.

Likewise, I can relate to huge credit card debt. Some of it due to unwise decisions, but mostly other unavoidable reasons such as medical or other bills, etc.

Any thoughts?

[Gerald Creasy]

A person I know spends themselves into credit card debt (quite a bit) a relative (a little better off) bails them out, individual then thanks "The Lord" for helping them out and gets right back in the same hole and begins to pray for God to supply all their needs.

Has happened enough times to be cyclical.

I came right out and asked them: Do you think God could help you to quit spending so much???

[Paully_44]

I saw a Christian show the other night where a young man testified to one time being $30,000 in credit card debt. He started paying his tithe and honoring God, something he had been previously unfamiliar with and God blessed him by bringing him into a situation to triple his income. He was able to get out of the credit card debt within just a couple of years.

I don't believe credit card debit is a result of not paying tithes. There are many who use their credit cards as a way to pay for any and everything, and then only pay the minimum monthly payment or just over the minimum. No wonder people carry debt for most of their lives.

A few years back, I paid off my Visa card. When I did, I call the cc company to have my limit lowered to the lowest available. What a hassle that was, I was transferred to multiple depts and eventually had to speak to a "counsellor" to have my limit lowered.

[MacUser]

I selected other above.

I use my cc and bank acct visa/mastercard for everyday purchases. Then pay the balance off each month. So no debt is transferred month to month.

Learn how to use it as a tool and not as a special treat. Don't buy anything you wouldn't buy within your means - know your own limit, not what the card says.

[dalebert]

i dont own a credit card the only "Visa" i have is my debit card.....got out of the credit card game yrs ago......

[Mike Vande]

After a bankruptcy, about three loan write-offs, and a foreclosure, my credit is so bad that even the credit card companies don't want me.
It's probably the best thing that could have happened to me. Credit cards are only worthwhile if you pay them off every month. Let them get much beyond that, and you are a slave to them.

[jinjer]

I chose other, because we pay ours off each month. A couple of times we have put something on the Visa and payed it off over 2-3 months. Put that is rare.

Jinjer

[Rob]

I chose minimal, and I may have gotten caught up in my semantics of words, but as soon as I charge something I'm in debt. I have a Visa, Master Card and American Express. I normally use my American Express because of some bonuses I get for using it, and it has to be paid off monthly. So as of this moment I have minimal debt, simply because my statements have not come for this month (won't get that till the first of Feb. for Jan.) and I have yet to pay them.

[paul]

I selected other above.

I use my cc and bank acct visa/mastercard for everyday purchases. Then pay the balance off each month. So no debt is transferred month to month.

Learn how to use it as a tool and not as a special treat. Don't buy anything you wouldn't buy within your means - know your own limit, not what the card says.

Same here, I use my cc for everything possible, that gives me air mileage for every dollar I spend. Take a little while but the free airline ticket sure comes in handy.

[teach]

i have less than 500 in credit card debt

wendy k

[Paully_44]

Same here, I use my cc for everything possible, that gives me air mileage for every dollar I spend. Take a little while but the free airline ticket sure comes in handy.

A good friend of mine works for a photographer in Malibu. His boss puts everything on the Amex card and the clients pays his bill. His boss just got the Black American Express card for spending over $750k annually. I guess it is offered by invitation only. Now they get every kind of free upgrade imaginable.

[Jennifer Smith]

Have credit card, no cc debt.

(That wasn't one of the options listed above!)

Praise the Lord for deliverance from debt, that's all I can say!

There is a good story about that, but it's more sam's than mine, so I'll let him share it.

[Pastor Bill]

Been there, did that, bought the t-shirt, paid interest on the t-shirt for years!

I chose other, we do have a couple of store cards that we have for ordering, and have even considered getting a general one again, but we carry a $0 balance on them, and pay it off in full each month, because we have made those mistakes in the past, and it's a trap.

Right now we are debt free (other than some bills sitting at home like utilities and an insurance copay, regular stuff that comes every month.

[Pastor Bill]

I don't believe credit card debit is a result of not paying tithes. There are many who use their credit cards as a way to pay for any and everything, and then only pay the minimum monthly payment or just over the minimum. No wonder people carry debt for most of their lives.

I agree Paully, when Rose and I got buried under cc debt early in our marriage, we prayed about it, and I realized that we got ourselves into this, and were going to need to work to get ourselves out, God wasn't going to just "fix it" for us to fall right back in. We at times hadn't been as faithful in tithes, and that is wrong, but I don't believe God punishes for that by adding debt. We do that ourselves, and if we surrender completely over to Him, we will not only pay our tithes, but also make wise decisions with all He has given us.

Don't get me wrong, there are times debt is neccesary, and I am not opposed to taking a loan out if needed or using a cc as long as it's done wisely, and taking into account the costs.

[MacUser]

I selected other above.

I use my cc and bank acct visa/mastercard for everyday purchases. Then pay the balance off each month. So no debt is transferred month to month.

Learn how to use it as a tool and not as a special treat. Don't buy anything you wouldn't buy within your means - know your own limit, not what the card says.

Same here, I use my cc for everything possible, that gives me air mileage for every dollar I spend. Take a little while but the free airline ticket sure comes in handy.

Exactly, Last year Visa sent me a very nice Canon Digital Camera for nothing more than using their services, Last year a nice vacuum cleaner. Plus my points keep on building.

Things to know:
Don't use your Visa/MC Bank Debit card for online transactions or unsure physical locations. If stolen, they can wipe your bank account out. Visa will probably cover it AFTER proven fraud.. but you might be without any banking cash for an undetermined timeframe. Use your regular Visa/MC/Discover in these questionable situations because you will be 100% covered - Ask me how I know.