Comments on: Latest Gallup Poll Shows 43% of Americans Pays Credit in Full http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/ Over Five Years of Personal Finance, Consumer Spending, Crazy Products and Boring Blog Posts. Good grief. Sun, 12 Feb 2012 08:14:43 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Mindraker http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/comment-page-1/#comment-160968 Mindraker Wed, 29 Dec 2010 02:38:54 +0000 http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/#comment-160968 I may be dirt poor because of my disability income, but because I'm not in credit card debt, I'm financially better off than millions of Americans. I have a credit limit of $15,000 because my credit card company wants me to spend more and get into debt!!! It's ridiculous, because I earn less than $700 per month. I may be dirt poor because of my disability income, but because I’m not in credit card debt, I’m financially better off than millions of Americans.

I have a credit limit of $15,000 because my credit card company wants me to spend more and get into debt!!! It’s ridiculous, because I earn less than $700 per month.

]]> By: fengshui http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/comment-page-1/#comment-143173 fengshui Thu, 01 Jan 2009 18:54:16 +0000 http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/#comment-143173 I personally do not mind paying a few dollars here and there in interest. I like to keep most of my money in the bank, and usually do not pay balances in full. I don't usually make large purchases anymore unless I can pay cash, but if I'm offered a deal where I can purchase new furniture or a new TV with "no interest for 2 years" I'm certainly not going to drain my savings to pay it off in a month when I have 2 years interest free to pay for it. That would just be silly. I personally do not mind paying a few dollars here and there in interest. I like to keep most of my money in the bank, and usually do not pay balances in full. I don’t usually make large purchases anymore unless I can pay cash, but if I’m offered a deal where I can purchase new furniture or a new TV with “no interest for 2 years” I’m certainly not going to drain my savings to pay it off in a month when I have 2 years interest free to pay for it. That would just be silly.

]]> By: Inderjit http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/comment-page-1/#comment-143065 Inderjit Wed, 10 Dec 2008 02:57:31 +0000 http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/#comment-143065 Numbers surprises me. 55% of americans are paying intrest on credit card? I can't understand why? I am from India and in my country hardly anybody likes to buy anything on credit. Now a days people have started using credit cards, but thats just for convenience. I don't think even 10% people will be paying even a single penny as intrest (Wonder how credir card companies are surviving??) But i am really really surprised to know that so many americans are paying intrest ..... whats the idea? is it because people start to earn much more as they grow older??? or there is some other logic? I mean .. if you afford something, why to pay intrest ... if you can't afford today.... how will you tomorrow with added intrest (Unless you are expecting some drastic change in your earning situation) Numbers surprises me. 55% of americans are paying intrest on credit card? I can’t understand why?

I am from India and in my country hardly anybody likes to buy anything on credit. Now a days people have started using credit cards, but thats just for convenience. I don’t think even 10% people will be paying even a single penny as intrest (Wonder how credir card companies are surviving??) But i am really really surprised to know that so many americans are paying intrest ….. whats the idea? is it because people start to earn much more as they grow older??? or there is some other logic? I mean .. if you afford something, why to pay intrest … if you can’t afford today…. how will you tomorrow with added intrest (Unless you are expecting some drastic change in your earning situation)

]]> By: Ned http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/comment-page-1/#comment-140232 Ned Thu, 10 Jul 2008 21:26:13 +0000 http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/#comment-140232 Like Brendan, I ended up with several maxed-out credit cards after college/grad school. Worked like a dog for years and finally paid them all off (one big year-end bonus check helped). Now, I hardly ever use credit cards for personal shopping anymore, though the accounts remain open to hopefully bolster my credit rating. Now, on to paying off tens of thousands in student loan debt! Like Brendan, I ended up with several maxed-out credit cards after college/grad school. Worked like a dog for years and finally paid them all off (one big year-end bonus check helped). Now, I hardly ever use credit cards for personal shopping anymore, though the accounts remain open to hopefully bolster my credit rating. Now, on to paying off tens of thousands in student loan debt!

]]> By: kitty http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/comment-page-1/#comment-140108 kitty Sun, 29 Jun 2008 17:39:24 +0000 http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/#comment-140108 I've always paid in full. Up until a few years ago when there was a program about credit cards on PBS, I had thought this is what most people do. I was really surprised to find out otherwise because paying higher percentage than one can earn on one's money goes so much against common sense. Until I saw a quote somewhere that "common sense isn't that common". I’ve always paid in full. Up until a few years ago when there was a program about credit cards on PBS, I had thought this is what most people do. I was really surprised to find out otherwise because paying higher percentage than one can earn on one’s money goes so much against common sense. Until I saw a quote somewhere that “common sense isn’t that common”.

]]> By: ed http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/comment-page-1/#comment-139985 ed Thu, 19 Jun 2008 14:55:20 +0000 http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/#comment-139985 I guess I'm a couple of categories here. I have two cards but I only carry a balance on one. My Visa has a 6k balance (0% interest) which I pay much more than the minimum every month. I don't "use" this card at all. This is my only debt and once it's gone I'm done carrying a balance. The other is an Amex card which I use for just about everything, food, gas, clothes, etc. I pay it off in full every month. I've learned my lesson but I'm still paying for it! It's quite nice to see such a high percentage of people being smart about their cc usage. I guess I’m a couple of categories here. I have two cards but I only carry a balance on one. My Visa has a 6k balance (0% interest) which I pay much more than the minimum every month. I don’t “use” this card at all. This is my only debt and once it’s gone I’m done carrying a balance.

The other is an Amex card which I use for just about everything, food, gas, clothes, etc. I pay it off in full every month.

I’ve learned my lesson but I’m still paying for it! It’s quite nice to see such a high percentage of people being smart about their cc usage.

]]> By: James http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/comment-page-1/#comment-139967 James Wed, 18 Jun 2008 19:24:49 +0000 http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/#comment-139967 Brian, You (we) are still in the minority. 43% pay in full, even though it is the largest of the groups listed, it is still a minority. 55%, aka the majority, do not pay in full but carry a balance. (The 2% I left out is the "other" category so we don't know what they do.) I'm shocked that the pay in full group is this large and very happy it is. One can clearly see how credit card companies make money now. Wish I had known this stuff when I was in college and grad school. Come on people, pay off those credit cards! You can do it! Brian,

You (we) are still in the minority. 43% pay in full, even though it is the largest of the groups listed, it is still a minority. 55%, aka the majority, do not pay in full but carry a balance. (The 2% I left out is the “other” category so we don’t know what they do.) I’m shocked that the pay in full group is this large and very happy it is. One can clearly see how credit card companies make money now. Wish I had known this stuff when I was in college and grad school. Come on people, pay off those credit cards! You can do it!

]]> By: Betsy http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/comment-page-1/#comment-139955 Betsy Wed, 18 Jun 2008 01:10:14 +0000 http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/#comment-139955 Always in full, but I'm surprised that such a large number of Americans are with me. Always in full, but I’m surprised that such a large number of Americans are with me.

]]> By: Bryan http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/comment-page-1/#comment-139954 Bryan Wed, 18 Jun 2008 00:31:20 +0000 http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/#comment-139954 Interesting - I thought I was among a minority paying off in full each month. I guess not. So if there's two trillion in credit card debt reported in govt. statistics, it's really only about one trillion. Good news for Americans. If only our government was as responsible. Interesting – I thought I was among a minority paying off in full each month. I guess not. So if there’s two trillion in credit card debt reported in govt. statistics, it’s really only about one trillion. Good news for Americans. If only our government was as responsible.

]]> By: Brandon http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/comment-page-1/#comment-139950 Brandon Tue, 17 Jun 2008 14:27:10 +0000 http://www.stopbuyingcrap.com/credit-related/latest-gallup-poll-shows-43-of-americans-pays-credit-in-full/#comment-139950 I was stupid with credit cards, I got one fresh out of college cause it seemed like what all my friends were doing and I wanted to keep up with them. However, unlike my friends my parents can't afford to foot the bill for me. In fact I was so stupid that I had two cards at one point, maxed them both out, transfered the balances to a third card, and then maxed them out again. So needless to say I'm paying back a lot of money to three companies mostly for crap I didn't need or for buying drinks and other stupid stuff. I'm not saying I'm done with cards, but I'm not using them until all my balances are paid off, and after that's taken care of I'm ditching the two with the highest rates, and only keeping the other one for emergency uses. I was stupid with credit cards, I got one fresh out of college cause it seemed like what all my friends were doing and I wanted to keep up with them. However, unlike my friends my parents can’t afford to foot the bill for me. In fact I was so stupid that I had two cards at one point, maxed them both out, transfered the balances to a third card, and then maxed them out again. So needless to say I’m paying back a lot of money to three companies mostly for crap I didn’t need or for buying drinks and other stupid stuff. I’m not saying I’m done with cards, but I’m not using them until all my balances are paid off, and after that’s taken care of I’m ditching the two with the highest rates, and only keeping the other one for emergency uses.

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