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Savings Challenge Day 13: Cut Up Your Cards

Posted by on Mar. 28, 2011 at 11:16 PM
  • 122 Replies

If you're looking to get out of debt or drastically reduce your spending, many experts will tell you the first thing you should do is cut up your credit cards and use only cash from now on.

That may not be possible for everyone, though, so your activity for March 29 is: Cut Up Your Extra Credit Cards. You may need one card, but there's probably no reason for you to have multiple credit cards in your wallet. To prevent yourself from using them, and risk racking up extra debt, cut them up, toss them out, and cancel the accounts. (Of course, you can't close an account until you've fully paid off the balance on the account.)

How many credit cards did you cut up? Would you ever try going completely card-less? Tell us in the replies below!

Plus, did you take a load off your car? Check out yesterday's activity to see who did.

by on Mar. 28, 2011 at 11:16 PM
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Replies (1-10):
MamaBear2cubs
by on Mar. 28, 2011 at 11:21 PM

I've never had any credit cards.


dstoutholcomb
by on Mar. 28, 2011 at 11:22 PM

not cutting up any...new laws make it hard for SAHM to count husband's income for herself, so I need the cards to keep my credit score active

that doesn't mean I have to use them tot he max

too hard to go card-less--certain purchases must be secured with a credit card

1busymomma03
by on Mar. 28, 2011 at 11:23 PM

We only have one credit card that we never use. We just have it "just in case"..

lioness3e
by on Mar. 28, 2011 at 11:23 PM
All my cards are. Up except for my business card which i do need for business travel and expenses.It gets paid off monthy.
McDrinky
by on Mar. 28, 2011 at 11:26 PM
I did thanks to Dave Ramsey!

I love not having credit cards.

However, I *do* have a couple "in store" cards which yes, really are credit cards. I don't use them though unless I turn around and pay them off within the month.
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ColeParkerMason
by on Mar. 28, 2011 at 11:31 PM

 I cut up my big one, which was a capital one card. We still have a Wal-mart card that is completely paid off and a Military Star card that we're still paying off. I keep the wal-mart card as an emergency "food" card, and the military star card for emergency "gas". Just in case. But I am completely in control of NOT racking them up.. ever again! Cutting them up would be a little hard for me now, just because I am at the beginning of building a savings, and I have absolutely nothing to fall back on.

MarcsWife05
by on Mar. 28, 2011 at 11:33 PM
I don't have a credit card and never have. My fiancé had 3 but they are gone and all paid off!
momofne
by on Mar. 28, 2011 at 11:34 PM

I have several credit cards however I always pay them off each month and have no balance. I have a good credit score and I have also given up on getting a new credit card for any promotion.

Mommy_Burge
by on Mar. 28, 2011 at 11:35 PM

 We've had one credit card in the past....which is now the main source of our debt..LOL....soooo needless to say we have been credit card-lesss for quite some time now.

but DH has gotten a secured credit card to help us build back credit...but it's secured...so it's not like we can really run ourselves into the ground. lol

malexander2009
by on Mar. 28, 2011 at 11:35 PM
I already have mind cut up. All we have is our debit card.
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