will you cut up your cards?

roxiepie_2

hello

Just been thinking about when I finally pay off my card - will I cut it up? Sort of scared to, as its been my safety net for so long!

so I was just wondering what others were planning to do?

kentjojo29

the only 1 i have is associated to my halifax account. if that counts then I will. I dont want anything more to do with them.

cleggie

I have already cut up my capital one card. Felt very liberating!

Cazza1

I'm keeping mine with a plan of doing one food shop on it a month and paying it off when the bill comes in, other than that it will continue to live in the drawer in the kitchen! Want to try and build my credit rating.

ellesbellesxxx

I have decided I will keep mine, but lower the limit to 500-700, and just get food and petrol on it.

YORKSHIRELASS

I cant cut them up just yet. I have put them away somewhere and will never ever use them - but I am not ready to cut them up just yet. I worry that until I have built up some savings I may need to pay for some emergency and have no option but to use the cards.

I have also occasionally bought things off the internet with a credit card when its not a tried and trusted website. I then pay the amount I have spent off the cards the same day as I make the purchase so there is no temptation to leave the balance sitting on there.

My cards are my safety net - but I am so proud that I still have them and have absolutely no desire to use them any more.

westlothian

I have chopped mine to pieces but the deatils are still saved on several internet accounts I have. Couple of clicks and I find myself buying things.:o

roxiepie_2

thanks for the replies.

I can kind of see it from both sides. Would be nice to keep it as a sort of insurance, but think it would also be soooo satisfying to cut it up!

Plus the whole reason we're trying to get DF is so that we don't have to rely on credit but savings instead. Maybe the thing to do is build up some savings and then cut it up...

Clarie_2

Just a note re credit ratings - I think I read somewhere on the site that having empty credit cards around doesn't lok good on your credit report. So maybe just keep one for emergencies (untill you've built up your emergency fund!) and also, don't just cut it up, but actually cancel it with the bank!

Westlothian - maybe it's time to delete the details?

CH27

I cut mine up a couple of years ago.

WASHER

I am now debt free, but still have one credit card for emergencies etc, it was a god send when my washing machine and dishwasher decided to go bang within days of each other, I had enough emergency funds to buy a washing machine but not a dishwasher, so I bought it with a card and paid it off over 3 months. (some would say a dishwasher is not an essential and thats fine, I simply wouldn't want to live without one, don't have a mobile, Sky, foreign holidays, or more than three pairs of shoes)

It is all about being disciplined, if one cannot be disciplined about not using it for the just got to have handbag, or dishwasher and not being able to budget to repay within a short space of time, then I suggest cut it up.