using other people's money to buy stuff for yourself (debt) is a wonderful thing, if well managed...
allow me to explain... we just passed through an extended period of the lowest interest rates and inflation rates this country has experienced since the great depression... this was a perfect opportunity to load up on (low interest) debt... an opportunity that will likely never come again (to the extent we just experinenced)... just six months ago I transferred about $6000 onto a 3.99% fixed interest (until paid) CC, but today, I can buy a 24-month CD with a 5.99% interest rate... so, in that window of opportunity, I was not only able to buy stuff using other people's money, I'm able to make money using other people's money (I'll net $122 on the deal)... ain't this country great !!!
a few simple rules apply... 1) select cards with the lowest variable rate you can, but never fall for a teaser rate (one that starts low, but jumps up in a relatively short period of time), 2) don't be afraid to transfer debt from one variable rate CC to another low fixed rate CC (again, don't fall for a teaser), 3) always use your CC to buy assets (besides most cards double the mfg warranty) and limit spending on "non-assets" (such as food, entertainment, gas, etc - for these use a debit card)...
and a side note, paying your credit card purchases off during the grace period, does nothing positive for your credit rating (as some have suggested)...
to answer the OP's question... you don't want to know how much credit card debt I carry - it would make 99.9% of you drop a load... but for me its manageable and a pittance compared to my net worth...
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