We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Should I close my credit cards?

SB160276 · 2017-09-12 20:02:19

Hi all, Should I close all my credit cards? I am currently paying a number of credit cards (9!) on a monthly basis and making slightly more than the minimum payments on each. These have built up out of habit, lack of control and generally a lack of attention to the issue, along with being lured into 0%APR deals. I have not…

Comments

EssexHebridean Posts: 24,714 Forumite

14 September 2017 at 3:52PM

Well done!

Your budget works, so there's no reason why you should find yourself needing to use cards now anyway - bear in mind that the first month is always tough as you have habits to break - and be careful not to fall into the trap of using your debit card for unplanned purchases.

🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25

SOA CALCULATOR (for DFW newbies): SOA Calculator

she/her

0