To think always clearing a credit card is not typical?

[OneNattyCrab]

I tend to pay my credit card off in full each month so I never pay interest but it’s made me wonder how common that actually is. Given how many people carry credit card balances, it feels like always clearing it might not be the norm.

AIBU?

Ideally I pay it off by the end of the month. I'm paid weekly so sometimes it's in dribs and drabs. My exdh took out a credit card and was using it for ridiculous things eg buying coffee and it took paying £100 a month for 5 years to pay it off. His gambling also left me having to use my credit card for essentials and only being able to pay the minimum so I went into persistent debt.
Our boiler broke last November and I payed 50% on my credit card. The rest is 12 months interest free loan. I then repaid 2/3rds of it by the end of the month (I had been saving for the eventuality) and ds lent me the rest to clear the balance. I have repaid him now. It wouldn't be the end of the world if it wasn't cleared by the end of the month as I have to balance our other needs but certainly as soon as possible.

I use mine in place of cash for several advantageous reason but I clear it every month without fail.

I have about £1800 on mine interest free which I pay £100 a month ; until it’s cleared I won’t pay any interest so that suits me. (£1k of that was a money transfer which I have sitting in another account for a holiday fund. )

If I couldn’t afford it,I wouldn’t use my credit card, which means it is cleared every onto. I use it for the added protection. I live in the Netherlands and paying your credit card off in full is the default.

It depends on your age. In your 20s it's not unusual to owe a couple of grand. In your 60s it's foolhardy to carry unnecessary debts into retirement.

Yes,I clear mine monthly.

I aiways have , but it's not particularly common- otherwise credit card companies would'nt make money.

Pay in full every month and have done for the last 25 years. Due to not doing when I was early 20s and getting 7k into debt, never again.

Always clear every month. Use it to earn rewards. There have been times when I was younger that it was used for unexpected costs and paid over a few months.

I don’t know if it’s typical or not but we always clear ours! We put as much of our spending as possible on credit cards, pay off in full each month and get quite a lot in cashback.

My CCs run at a constant balance between £1k and £3k (they're never at zero, so arguably carry a balance) but the bill is paid in full every month and I never incur any interest.

I do the same.

Always pay off full amount owed. Never paid interest in 40 odd years

I built up quite a balance when DD was young due to cost of childcare. But it’s all paid off now. I still have it for purchase protection for large expenses, also get points on spending and for things like online purchases where I know I will return things as ordered for size etc. it gets repaid in full every month.

It also helps to keep my credit score active as I don’t have any loans at the moment but will be looking to borrow for house renovations (paying back as quickly as possible)

Why would you want to pay interest on the money you spent?

I use it for everything and pay it off in full monthly,so does my dh.

I doubt people paying interest WANT to do so, it's (hopefully) an informed decision and one they accept as the downside of getting credit.
People make unwise financial decisions, or end up in financial positions they didn't think they'd be in.

I doubt anyone wants to..

With many young parents on mumsnet, I would not be surprised nor would I judge families who occasionally use their credit to purchase something that is just beyond the budget. While most of mumsnet is above that, and cannot imagine why anyone would WANT to incur interest, many families are one car repair, one broken appliance, one unexpected bill away from needing to carry a balance. In my younger years, DH and I occasionally needed to, and we did what we had to and worked towards clearing it. I am grateful for a well lived life, full of lessons, challenges and being in a better financial position now. I appreciate what I have and am glad to have learned hard lessons in frugality, because now that I can afford to splurge, I am more apt to save instead. Force of habit.

I clear it monthly - I don't use it for credit. I have it because it's handy for things like booking stuff people might need to pay me back for, and sometimes I'm short of money for something but will be able to pay for it by the time the bill comes. Also good for booking things like flights as it is extra insurance if something goes wrong. I got refunded when an airline I'd booked with went under- probably could have done through insurance, but was much easier on credit card. And you need them for booking hire cars too generally.

No, but the OP is asking if she should pay it off!?!

I’m responding to the OP who can clearly pay it off.

I have always paid in full. Had a credit card ever since my student days which only ended last week over 30 years ago. I have probably missed 2 or 3 payments ever. Almost everything I buy goes on a credit card.

I pay mine off every month.

Is she? I thought she was just wondering how typical it was.