will you cut up your cards?

Superbiatch

Mine are sat in the cupboard awaiting the prepaid envelope I've requested from their owners. Until I get that, they stay in the cupboard but all accounts are closed anyway so there is no way they will get used

horse76

Most of mine are cut up, except one card I keep for emergencies. I managed to cancel a card today, and about to transfer a balance to a 0% offer on an empty card I have.

I think once I pay off all my cards then I'll keep just the one for emergencies only.

affordmylife

i cut mine up when i started debt busting. that way there is no chance that they will be used.

i do have one for emergencies but it is clear.

LillythePink

I cut mine up and cancelled the accounts - I don't have a credit card now and if we need to buy something then we use Oh's and pay it off straight away.

I have found myself tempted to get another one from time to time, but have restrained myself......I think that if I did get another one I would be stupid enough to use it and then end up in a mess again - so better to stay away.

churchrat

I dont have any credit cards at all, and have always said that I will never get another one. But we are now thinking about getting one just because of the insurance when using the internet I know that the debit card we have does have a similar "insurance" but I have heard that it is very difficult to get the banks to pay up. Being without one is now a choice we make, rather than because the banks say we cant have one (which was the case a few years ago). As one poster as already said, it is very liberating to be free of them.

If we want anything we save up to get it, and often find that when we have the money we no longer want what we were saving for! At the begining of our debt free life I was very worried about "emergencies" but it is really amazing what you can live without if you have to-- I think there is a thread on here somewhere about that.

So, the answer to the question "will you cut up your cards" is YES, we did!

eyeopener2

I cut mine up last year and I don't intend ever having one again. Whatever I want I will save for.

I intend, when debt free, to build up an emergency fund. (bolier, car, roof, etc.)

Time will tell if this actually happens or not!

Jinx

I cut mine up when I started my DMP. However I did get a new one a couple of years ago and am very strict about what goes on it. I tend to use it for internet purchases and its cleared every month. I hope its helping rebuild my dire credit rating but not too fussed on that. Will keep it when Im debt free in May and of course I could use in an emergency as I dont have a savings fund yet!!

westlothian

Clarie wrote: »

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?

Clarie I dont quite have the motivation to do that yet but would LOVE to log on and delete. Might make me think when making a purchase if I have to take time to type the numbers in.

niccatw

I cut up and cancelled all but one of my cards. I use it for internet or larger purchases so I have the protection. It doesn't leave the house and the pin number was shredded the same day it arrived. I also asked that the total was reduced to £500 so I couldn't, for example, book a 2 week holiday on a whim, but I could replace the fridge if I needed to quickly.

I didn't use it for about a year after I paid it off but I do now use it and pay it off in full each month.

It took a long time in learning that lesson! But I got there eventually!

stassy23

i cut mine up when i started my dmp