Credit Card Debt Quotes:

Once you get into debt, it’s hell to get out. Don’t let credit card debt carry over. You can’t get ahead paying eighteen percent.

- Charlie Munger

source: "4 Steps To Getting Rich From Warren Buffett's Right-Hand Man" by Chuck Saletta, www.businessinsider.com. May 31, 2013.

topic: Over You, Cards, Credit, Credit Card, Credit Card Debt

Modern man drives a mortgaged car over a bond-financed highway on credit-card gas.

- Earl Wilson

topic: Men, Car, Credit, Credit Card, Credit Card Debt

Make this the year you tackle that credit card debt once and for all.

- Suze Orman

source: "Suze Orman's 10 Tips for a Fresh Financial Start". www.oprah.com. January 2009.

topic: Years, Cards, Credit, Credit Card Debt

Credit is a system whereby a person who can not pay gets another person who can not pay to guarantee that he can pay.

- Charles Dickens

topic: Inspirational, Money, Guarantees, Credit Card Debt

A check or credit card, a Gucci bag strap, anything of value will do. Give as you live.

- Jesse Jackson

topic: Famous Inspirational, Giving, Credit, Credit Card, Gucci

There's also consumer debt, the credit card debt that burdens many of the working families in America. Yes, we talk about national debt, and we're paying a lot down. But you're fixing to hear me tell you part of the remedy for people who have got a lot of credit card debt is to make sure people get some of their own money back.

- George W. Bush

topic: America, People, Cards, Credit Card Debt

Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It’s a trap for the rest of your life because the laws are designed so that you can’t get out of it. If a business, say, gets in too much debt it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy.

- Noam Chomsky

source: "Chomsky: How America's Great University System Is Being Destroyed" by Noam Chomsky, www.alternet.org. February 28, 2014.

topic: Law, Cards, Credit, Credit Card Debt

It is imperative that we make consumers more aware of the long-term effects of their financial decisions, particularly in managing their credit card debt, so that they can avoid financial pitfalls that may lead to bankruptcy.

- Daniel Kahikina Akaka

topic: Long, Decision, Pitfalls, Credit Card Debt

Congratulations on your job at the bank! Yes. You work for the bank. After taxes, your largest expense is your mortgage and credit-card debt.

- Robert Kiyosaki

source: FaceBook post by Robert Kiyosaki from Jun 04, 2012

topic: Inspirational, Success, Sarcastic, Funny Money, Credit Card Debt

Nobody had a credit card when I was a kid. No one had credit card debt. But these big companies and banks wanted to know how to get more money out of people - get them charging things.

- Michael Moore

topic: Kids, People, Cards, Credit Card Debt, Charging

People internalize, from the jail to student loan debt, to credit card debt, to unemployment to the whole collective. It manifests itself in many ways, in people's home lives, domestic stuff.

- Jesse Jackson

source: "Rev. Jackson opens up about son" by Katie Glueck, www.politico.com. August 17, 2012.

topic: Home, Jail, People, Student Loan, Credit Card Debt

High bankruptcy rates, increased credit card debt, and identity theft make it imperative that all of us take an active role in providing financial and economic education during all stages of one's life.

- Ruben Hinojosa

topic: Identity, Credit, Debt, Bankruptcy, Credit Card Debt

If the US Government was a family—they would be making $58,000 a year, spending $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand.

- Dave Ramsey

topic: Cutting, Government, Years, Spending Cuts, Economic Reforms

If you have to pay about forty to forty-three percent of your income for housing, you also have to pay fifteen percent of your paycheck for the FICA for Social Security wage withholding. You have to pay medical care, you have to pay the banks for your credit card debt, student loans. Then you only have about twenty-five or thirty-five percent, maybe one-third of your salary to buy goods and services. That's all.

- Michael Hudson

source: Source: www.counterpunch.org

topic: Income, Three, Cards, Medical Care, Withholding

If you have credit card debt and credit card companies continue to close down the cards, what are you going to do? What are you going to do if they raise your interest rates to 32 percent? That's five times higher than what your kid is going to pay in interest on a student loan. Get rid of your credit card debt.

- Suze Orman

source: "Debt vs. debt: Which loans do I pay off first?". "Today" Interview, www.today.com. May 6, 2009.

topic: Kids, Cards, Credit, Student Loan, Credit Card Debt

In about one-third of credit card consolidations, within a short period of time, the cards come back out of the wallet, and in no time at all, they're charged back up. Then you're in an even worse position, because you have the credit card debt and the consolidation loan to worry about. You're in a hole that's twice as deep - and twice as steep.

- Jean Chatzky

source: Source: www.nbcnews.com

topic: Worry, Cards, Credit, Consolidation, Credit Card Debt

When you default on a secured debt, the creditor takes the asset that backs up that debt. When you convert credit card debt to mortgage debt, you are securing that credit card debt with your home. That's a risky proposition.

- Jean Chatzky

source: Source: www.nbcnews.com

topic: Creditors, Credit Card Debt

I never had credit card debt... I was very much about trying to gain my freedom, so it was about saving.

- Jenny Mollen

source: Source: www.cosmopolitan.com

topic: Trying, Cards, Credit, Credit Card, Credit Card Debt

There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens when people have to spend more and more of their income to carry the debts that they've run up - to pay their mortgage debt, to pay the credit card debt, to pay student loans.

- Michael Hudson

source: Source: www.counterpunch.org

topic: Running, Thinking, Two, Deflation, Credit Card Debt

If you do not have at least an eight-month emergency fund, and you think there's a probability you could loose your job - and it's not just losing your job; you could be in a car accident, get sick - continue to pay the minimum on your credit card every month. Everything beyond that needs to go to establish an emergency fund. And if you have an emergency fund saved, then fund your retirement account before paying down credit card debt.

- Suze Orman

source: "Debt vs. debt: Which loans do I pay off first?". "Today" Interview, www.today.com. May 6, 2009.

topic: Retirement, Jobs, Thinking, Credit Card Debt, Car Accident

In January we start saving money, getting out of credit card debt, funding our retirement accounts, and we're doing wonderful. Then, every single year like clockwork, starting in November, all of you fall into this trap that says, 'I have to buy this gift... I can't show up at this party and not have something for everybody.

- Suze Orman

topic: Retirement, Fall, Party, Credit Card Debt

There's more student debt than credit card debt! Everywhere I go, I run into young people trying to build careers while they keep shelling out money on their education loans. If the economy is looking for a new generation of home-buyers, I can't imagine they'll get it from these folks.

- Gail Collins

topic: Running, Home, Careers, Credit Card Debt

Environmental concern is a little like dieting or paying off credit-card debt - an episodically terrific idea that burns brightly and then seems to fade when we realize there's a reason we need to diet or pay down our debt. The reason is that it's really, really hard, and too many of us in too many spheres of life choose the easy over the hard.

- Jon Meacham

topic: Ideas, Environmental, Cards, Credit Card Debt

Maybe you'll take the cash out. So a credit card company or a bank that goes into the business of saying we're going to be the broker, we're going to sell you a mortgage that you're going to be able to pay off, we're going to help you reduce your credit card debt, we're going to help you save for retirement, we're going to put you into mutual funds that have low fees rather than high fees.

- Richard Thaler

source: Source: bigthink.com

topic: Brokers, Credit Card Debt

Face the fact that there's only one sure-fire way to erase credit card debt. By picking up a big, shiny pair of scissors and cutting your wife in half.

- Bill Maher

source: Bill Maher (2006). “New Rules: Polite Musings from a Timid Observer”, p.189, Rodale

topic: Cutting, Fire, Wife, Scissors, Credit Card Debt

In a speech at the just-concluded G20 summit in London, President Obama urged Americans not to let their fears crimp their spending. It would be unwise, he argued, for Americans to let the fear of job loss, lack of savings, unpaid bills, credit card debt or student loans deter them from making major purchases. According to the president, 'we must spend now as an investment for the future'....instead of saving for the future, we must spend for the future.

- Peter Schiff

topic: Jobs, Loss, President, Credit Card Debt, Job Loss

Absolutely pay off credit card debt. If you're not getting a match in your 401(k) and you've got credit card debt, you've got to get yourself out of credit card debt. When you get out of credit card debt, your credit score goes up and interest starts to go down.

- Suze Orman

source: "Debt vs. debt: Which loans do I pay off first?". "Today" Interview, www.today.com. May 6, 2009.

topic: Debt, Pay, Cards, Credit Card Debt, Credit Scores

But credit card debt is unsecured debt, which means if you get in trouble and cannot pay off your credit card, you can discharge it in bankruptcy. What are they going do to you? If you're in a financial position to just methodically pay off both credit card and student loans, pay them all.

- Suze Orman

source: "Debt vs. debt: Which loans do I pay off first?". "Today" Interview, www.today.com. May 6, 2009.

topic: Mean, Cards, Credit, Discharge, Credit Card Debt

You also need to understand that when you consolidate credit card debt into mortgage debt - like a home equity loan or a HELOC [ home equity line of credit ] - you're taking an unsecured debt and turning it into a secured debt.

- Jean Chatzky

source: Source: www.nbcnews.com

topic: Credit Card Debt, Home Equity

Our [western] culture embraces sex addiction. If I drink too much or rack up credit-card debt or lose the rent in Vegas, that's bad. But if I have many lovers, that's good.

- Susan Cheever

source: Source: www.marieclaire.com

topic: Sex, Vegas, Addiction, Credit Card Debt, Sex Addiction

Absolutely pay off your credit card debt, because a child can always get a loan to go to school, possibly a scholarship, a grant.

- Suze Orman

source: "Debt vs. debt: Which loans do I pay off first?". "Today" Interview, www.today.com. May 6, 2009.

topic: Children, School, Cards, Credit Card Debt