How deep in debt are you!?

Papa_Complex · 11-30-2009, 07:20 PM

What, no category for people who have a positive liquid worth?

fasternyou929 · 11-30-2009, 11:05 PM

Quote:

Originally Posted by Papa_Complex

What, no category for people who have a positive liquid worth?

Just have to check to 0-5k box, I guess.

N2O Junkie · 11-30-2009, 11:06 PM

Quote:

Originally Posted by fasternyou929

Just have to check to 0-5k box, I guess.

yup. this is strictly a debt thing... not a net worth.

Trip · 11-30-2009, 11:19 PM

Without my mortgage I am in the black, no other loans or debt

Papa_Complex · 12-01-2009, 06:30 AM

Quote:

Originally Posted by N2O Junkie

yup. this is strictly a debt thing... not a net worth.

Then I guess I have no response.

shmike · 12-01-2009, 09:41 AM

Quote:

Originally Posted by Papa_Complex

What, no category for people who have a positive liquid worth?

Why?

It is a debt thread.

A number of the responses here indicate a positive worth but that doesn't necessarily mean debt free.

Papa_Complex · 12-01-2009, 09:43 AM

Quote:

Originally Posted by shmike

Why?

It is a debt thread.

A number of the responses here indicate a positive worth but that doesn't necessarily mean debt free.

In my case it does. I'm not carrying any debt and my credit card gets paid off at the end of every month, if not before.

shmike · 12-01-2009, 09:59 AM

Quote:

Originally Posted by Papa_Complex

In my case it does. I'm not carrying any debt and my credit card gets paid off at the end of every month, if not before.

Congrats.

You would check the $0 -$5k option.

I prefer Colgate to Crest.

Cutty72 · 12-01-2009, 11:52 AM

Quote:

Originally Posted by Papa_Complex

What, no category for people who have a positive liquid worth?

liquid worth i'd be positive. I could pay off what I owe (besides the morgatge) with money in savings... but I like having a cushion.

Rider · 12-01-2009, 12:01 PM

For those with little or no debt but you want to keep that 800 beacon score, you'll want to keep a small balance on a couple of cards. For example get a couple of 5.9% or 6.9% fixed rate cards with high limits, charge say 60$ on each card, when the bill comes pay $50 and keep a $10 balance, next month charge $50 and pay $50 when the bill comes. The amount of interest you pay to keep a $10 balance on each card is nothing but the the benefit to your credit score in invaluable. That is, if you ever need to use it. If you never plan on using credit and you don't care about your credit score then disregard.

View Poll Results: How much?
0-5k	20	27.03%
5k-10k	10	13.51%
10k-20k	11	14.86%
20k-30k	11	14.86%
30k-50k	12	16.22%
50k-75k	5	6.76%
75k-100k	1	1.35%
100k-150k	3	4.05%
150k+	1	1.35%
Voters: 74. You may not vote on this poll

11-30-2009, 07:20 PM	#1
Papa_Complex Nomadic Tribesman Join Date: Nov 2008 Location: Brampton, Canada Moto: '09 ER-6n Posts: 11,150	What, no category for people who have a positive liquid worth? __________________ "Everything's better with pirates." - Lodge, "Dorkness Rising" http://www.morallyambiguous.net/

12-01-2009, 12:01 PM	#10
Rider Moto GP Star Join Date: Feb 2008 Posts: 12,156	For those with little or no debt but you want to keep that 800 beacon score, you'll want to keep a small balance on a couple of cards. For example get a couple of 5.9% or 6.9% fixed rate cards with high limits, charge say 60$ on each card, when the bill comes pay $50 and keep a $10 balance, next month charge $50 and pay $50 when the bill comes. The amount of interest you pay to keep a $10 balance on each card is nothing but the the benefit to your credit score in invaluable. That is, if you ever need to use it. If you never plan on using credit and you don't care about your credit score then disregard.