[David702]

Hey Las Vegas,

I was wondering how much credit card debt does the average Las Vegan has? and over how many credit cards?

I was just laid off, and I'm planning to max my cards out to provide for my family.

I currently have $15K worth of credit cards debt, and have a total line of credit over $35K, and a total of 4 credit cards.

[las vegas drunk]

Originally Posted by David702

I was just laid off, and I'm planning to max my cards out to provide for my family.

Since I am responsible, I have no credit card debt on either of my 2 cards. What you are planning on doing is immoral, since you will not be able to pay it off. I sincerely I hope your credit card providers cancel your cards ASAP.

[David702]

Originally Posted by las vegas drunk

Since I am responsible, I have no credit card debt on either of my 2 cards. What you are planning on doing is immoral, since you will not be able to pay it off. I sincerely I hope your credit card providers cancel your cards ASAP.

Of course I can pay it off, I got another job, but doesn't start until Feb. 2010. I just need to use my credit card to hold me over for a few months.

[David702]

I guess the nay-sayers are always the first to respond.

[mojavedxer]

Can you not collect unemployment untill then?

[swagger]

Don't be surprised if the banks chop your limit to your current balance once you start using them more. Also, if they haven't already, they'll probably skyrocket your interest rates.

[airics]

make sure you dont do cash advances, thats a red flag

[bledsoe3]

I have two CC with about $50K limit between them. But, I pay them off every month. I would say use them as little as possible. The interest will kill you.

BTW, I'm only a part time Vegas resident (starting tomorrow).

[MomMom]

Originally Posted by David702

Hey Las Vegas,

I was wondering how much credit card debt does the average Las Vegan has? and over how many credit cards?

I was just laid off, and I'm planning to max my cards out to provide for my family.

I currently have $15K worth of credit cards debt, and have a total line of credit over $35K, and a total of 4 credit cards.

We have 5 credit cards between myself and Mr. MomMom but no open balances. If we use one, we pay whatever we charged by the date due.

We do use the Am Ex Gold Card for just about everything from gift purchases, grocery shopping, pre-paid/automatic monthly bills, etc. and we pay that off every month as well. We'll only use our other credit cards when the merchant doesn't accept American Express and we don't have enough cash on us or in the checking account to use our debit card.

We like receiving the points you get for using the Am Ex card. Saving them up now for use on one of our vacations next year, like we did this summer.

David, while it's your own business what you do with your credit, what you plan on doing (maxing out your cards to live on) is not a good idea in my opinion.

The interest will be ridiculous, and your credit score will take a hit. Even if you pay every month on time. It will take you years at the minimum payment due to pay off those cards and you'll triple what you have to pay back after adding all the finance charges!

So many stores are hiring seasonal help right now, isn't there possibly something else you can do to provide for your family? Would moving out of Las Vegas be a better solution for you? Other cities are not suffering quite as much as Las Vegas as far as employment goes.

Like I said, it's none of my business what you do, but you asked for opinions. You are to be commended, obviously you are a wonderful family man and your main concern is the well being of your family.

Just please, re-think your strategy looking further down the road so to speak.
Best wishes and good karma to you David.

[Eyes]

If you don't have a job ... the credit card companies will know fairly quickly and cut you off ...