@Anonymous wrote:I don't always PIF, because I quite honestly, don't got it like that. I use my credit cards when I'm short on $$$ but always always make 3-4x the minimum payment. Who the heck wants to pay interest anyways? I don't mind paying interest as it is money I never had and the bank lent it to me, so that's my repayment for letting me borrow. I just look at it that way...if i racked up $1500 in cc charges and they charge me $10-20, I'll take that any day for the simple fact that 'they came through' when I needed them.
hope that makes sense
I think of it this way too.....
Until I got on this forum I really didn't worry about the interest amount too much...figured it's just a cost of doing business.
Doing business when I have low or need to limit my cash flow.
After joining this forum I went back and looked at all my accounts and figured out how much interest I had really paid ytd.
in CC's it was $78 .....that's it. and I know my plastic bailed me out many times when I needed it to. I'll take that as a win.
of course my mortgage is a different story....can't wait to get rid of PMI.
I've had some REALLY bad experiences with CC's...horrifying really.
Even then I've always touted that CC's are nothing more than tools. A useful weapon if you understand how it operates and make it operate for YOU.
The Ramsey mentality is one that is of absolutes. Absolutes are for exstremist's. Extremist's are dangerous no matter if their intentions are good or bad.
Typically when someone doesn't understand something they become absolute in their opinion of it. Reads as ignorance.
I'm not saying Ramsey is ignorant.....just that an absolute mindset like that doesn't open itself up to learning.
BTW: one of my family members is a Ramsey certified CPA........and we can't even talk about finance it's like talking to a toy recorder with one message that just repeats.
@Anonymous wrote:I realize that you are a savvy, select crowd of consumers but I find it hard to believe that this is characteristic of most American credit card users..
No discussion forum is ever an accurate representation of the masses. One always has to be careful using forum posts for analysis as the data is skewed in many ways and that skewing needs to be accounted for.
@Anonymous wrote:In fact most people I have talked with claim they are drowning in CC debt, some say it is manageable but no one has ever told me that there util was under 4% for all but one. I am not drawing any conclusions. I am just asking for your feedback if you wish to share about what is going on with CC debt across the country.
"Most people I have talked to" isn't a sufficient sample either but there are studies that have been done with properly samples that you can refer to. I'm not sure why you think myFICO and the general consumer populace should reflect each other. You need to always consider your sources. myFICO users are here because they are actively interested in the shape of their credit. Some are just starting out. Some are rebuilding. Some have already completed the majority of their rebuilding. However, they all have an active interest whereas the masses are generally not putting the same effort and thought into their credit.
I can't speak to broader trends. All I can do is make the same comment that most people I know seem to know little about credit but, again, that's still subject to insufficent sample data.
@CreditCuriousity wrote:It is looked as a sin to carry a balance here without a 0% apr as you are watering down awards.
It's not a sin -- it just doesn't make financial sense to worry over X% rewards when Y% interest is siginificantly greater.
@Anonymous wrote:I don't always PIF, because I quite honestly, don't got it like that. I use my credit cards when I'm short on $$$ but always always make 3-4x the minimum payment.
Just be aware that credit is not a replacement for a liquid reserve. I know that's easier said than done but if you're regularly exceeding your budget then you may want to look at why and what you can do about it.
@Cmikul wrote:The Ramsey mentality is one that is of absolutes. Absolutes are for exstremist's. Extremist's are dangerous no matter if their intentions are good or bad.
That's a very absolute statement. 
If Ramsey's approach works for someone then more power to that person. Each has to find what works best for the individual.
@Anonymous wrote:
@OmarGB9 wrote:
MyFICO is by NO means indicative of the typical CC user. Lol. Most people have 1 or 2 credit cards. Maybe 3. Definitely not 20 or 30 or 100. People here are serious about their credit.Not sure I would use "serious". A lot of the behavior seen and supported here (multiple apps, endless CLIs etc) isn't always part of a good/serious credit strategy. "Very interested", "competitive", "obssessed", or, in the worst cases "A little knowledge is a dangerous thing"
That's what I meant by serious. Lol. Just tried to word it a different way so as not offend anyone.
@kdm31091 wrote:
What I find funny is myfico members need to justify saying they ever carry a balance by adding "but I had a 0 percent promo!". Its like they feel theyll be ousted if they admit they paid interest even once!
We are certainly special thats for sure
I would argue that some members do this because other members so vehemently express their disdain if balances are being carried.
For me, carrying balances comes down to what's most economical for cash flow/what gives me most bang for my buck.
