So, while at work today… I took the scissors out and CUT UP ALL THE BLECKY CREDIT CARDS in my wallet! JcPenney…SNIp! Home Depot…SniP! And so forth. The only cards in my wallet now, is my Debit Card, 1 emergency Credit Card, and my family’s health insurance cards. And you know what? It Feeeelllls GREAT! Give it try! I dare you!
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{ 12 comments… read them below or add one }
Congratulations! That is fantastic. I’m really happy and proud. I bet it feels wonderful and good for you!!! (I only have 2 debit cards in my wallet and my insurance cards, nothing else).
Hi there-fantastic news well done!! its taken me 6.5 years to get to having 1 credit card with a very low limit and thankfully I have a 0% interest deal on it too. The slog is hard work, but there is an end in sight-have a great weekend!
congrats!!! did is feel wonderful?!?!
budget mama: it feels great! Having less actually gives me more gratification. Less to deal with. Less to be enticed with. If you debit card runs out…then you’re done! ha!
good for you, too!
sharon rose: thank you! And you are doing fantastic, too. And since we have felt/feel the pains it will remind us that our financial freedom is so sweet to keep!
Have a great weekend, too!
jpkittie: it does feel wonderful! You should give it a try. Puts you into perspective that you have to live with what you make. And if you have kids, they learn to deal with it. A little whining never hurt anyone.
Good for you!!!!!!
Don’t forget to actually cancel the cards though, not just cut them up!
Well done you, that is fabulous!
frugal dreamer: Thank U!
past mistakes: I am still pondering on cutting up the cards. I need to see what type of ‘damage’ it will do to our credit cards. I do have every intention of closing most of the accounts cuz I only need 1 debit card and 1 credit card (strictly for emergencies!). Then, I have to talk my husband into going along with it! I’ll keep you updated!
frugal trenches: Thank U!
One thing I really like about pf blogging is that it is such a wide support system! We are all virtually here for eachother. It’s wonderful! We will pick eachother up or give a pat on the back or lend advice in a time of need. Truly neat.
Ew, please don’t cancel/close the accounts until the balances are zero. It will probably mess with your credit score which could make the other creditors jumpy and cause them to raise rates, etc. Even after the balances are zero it can mess with your scores.
Greentreeweb: Hiya There!
Of course, I would not close them until they hit a zero balance. Even though it would mess with the credit score, I am curious how long of a duration it would hurt? We are not out to apply for a loan. So, this would actually be the right time if I was to be negatively affected for a short time. Hmmm…
It really does feel good! I kept the pieces of my CC on my desk until about 5 minutes ago – now I know for sure that my debt to that card is gone. Next up: cancelling it in 6 months.
I’ve decided to keep my VISA, but only because it’s got a lower rate of interest, a low limit and doesn’t rack up interest/charges when I’m NOT EVEN USING IT!
Congrats on your destruction as well! WOO HOO!!