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Going Cardless!!

May 7th, 2007 at 03:33 pm

I have been thinking about cutting up all of my credit cards but I am afraid to do so. I don't know why I am afraid of doing it because as it stands now I can't use the cards anyway. I have read on other blogs where the authors have just quit using their credit cards and not cut them up. I really don't think that would work for me. If I had credit available on any of my cards I know that I would find some excuse or reason to use the card. I guess, in essence, I have answered my own question, which was "should I cut my credit cards up?". But, I would like to know, what would you do?

5 Responses to “Going Cardless!!”

  1. homebody Says:

    I only carry one in my wallet for emergencies. Until you have a mind set of not using them you may need to cut them up. It doesn't even occur to me to use a credit card. If I don't have the money, I don't buy, but I was not always that way of course.

  2. Stein Says:

    Get a $1000 emergency fund if you don't have one, then cut them up. Emergencies come up and you want a little bit of cash to help until you are out of debt with a regular emergency fund of 3-6 months of expenses.

  3. JanH Says:

    Some people put their unused cards into their safe deposit box until they need them for an emergency. I have thought of doing that one. And like Homebody says, keep one or two out in case something happens and you need it immediately. And Stein is right about an emergency fund. We are aiming for all three ideas.

  4. compulsive debtor Says:

    After I had a little emergency fund started, I cut my cards up and haven't regretted it one bit. I tried all the tricks -- literally froze them in ice and had my husband hide them at one point -- but I would never stop using them all together so getting rid of them got rid of the temptation.

  5. tinapbeana Says:

    i was going to suggest the deep freeze that compulsive debtor mentioned, b/c you can't just pop it in the microwave to thaw it out! it takes a while for a pint container of ice to properly thaw... the safe deposit box is also a good idea.

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