Just cut them up?

iVillage Member
Registered: 01-23-2013
Just cut them up?
Tue, 05-07-2013 - 2:13pm

When focusing on paying down credit card debt, what do you do with your cards? Did you cut them up? Freeze them in water? Keep one and get rid of the rest? What worked best for you?

Community Leader
Registered: 08-25-2006
Fri, 05-10-2013 - 2:13pm

There is no one perfect answer for this.  I think it depends what your goals are.

Are you trying to get out of CC debt?  Are they maxed out?  Do you need to keep one that you still use to help your credit score.  Do you even care about your credit score?

It take it by your question that you are keeping these CC accounts open, and I presume this is to keep your debt to available credit ratio down.  

Cutting them up is only limted protection since you can do so much on line these days.  I would say if you are keeping these accounts open for a reason, then simply find a secure location in your home to stash them.

Now, if your issues are beyond the average will power, than you may need to close all but one card.  A hit to your score is better than continuing to dig ourself deeper into debt.  

You may also want to wonder over to Debt Support.  Good luck!!!

Serenity CL Making a Second Marriage Work

iVillage Member
Registered: 03-17-2003
Sun, 05-19-2013 - 11:25am

Welcome Ohbaby2012.

Congratulations on committing to paying down credit card debt.  Getting rid of debt is a lot of hard work and takes time. It also means changing how we use credit cards.  If you are interested in ridding your life of credit cards so you have no temptation to use them, then keep one but don't keep it handy.  Freezing credit cards sounds like a great idea but isn't going to do anything more than slow you down.  During this period of time, while you are getting out of CC debt and changing consumer habits, it's probably best to remove the plastic.  Don't make it easy to get your hands on.  If you work, leave it locked up in your desk or squirrel the CC in a safe deposit box at a bank.  If you are adamant, then cut up the card.  Once a CC account is paid off, then decide whether you want to close the account or leave it dormant.

Hope this helps.