I would gather up ALL the credit cards and give them to your dad to keep. Don't close the account just don't use them and this will also show your dad that you are serious this
If it was me, I would decide which card I wanted to keep for true emergencies. Then even if I wasn't going to close the account straight away, I would cut up each of the remaining cards. I don't really understand how closing accounts impacts on your credit score, but I would really encourage you to reduce the number of open cards you have, because even with the best intentions in the world, the more cards you have, the more trouble you are leaving yourself open to if something does go wrong.
I do agree with Mary Ann about the idea of opening a savings account once the 3000 is paid off, so that you have the money, or at least some of it, when your dad wants it.
The other thing to do is to use this as an opportunity to update the budget so that you don't have to rely on all of your income to survive each pay period. - I hope this makes sense as I don't think I'm explaining it very well.
I wouldn't close up all the accounts, but I would make it impossible to charge again. I'd keep the one card with the highest limit for emergencies.
Then, I'd do a bit of research over how much credit someone with your income should optimally have at their disposal. I know there's a weird formula out there. IF you don't have enough credit it hurts you to get new credit, if you have too much, it also hurts you (cause they think even if you don't have anything charged up, you could, and then get in trouble again). Once I figured that out, I would cancel a few of the cards. The ones I thought I should keep open for credit score reasons I wouldn't cancel, but I would shred and throw away. That way, you have the credit technically, but not the temptation.
I think Mary Ann had a great idea with setting up a savings account for the money you owe your dad. I'd also set up a savings account for you with the extra
It may say on your credit report when you opened your credit cards; or your credit cards' customer service groups can tell you. I'd find out the oldest two and close the rest. Just my thoughts on optimizing your credit score.
what you could do with cs is look at it as money for your DD's future. so when it does come in, automatically put it in a college fund for her. that way, you won't rely on it for expenses, and she'll have the money when she's older...and of course, it'll be there in savings if she needs something.
I'd see about getting that child support regularly. I'd call the family court and see if they can garnishee his wages, confiscate his income tax refunds, etc. Best of luck to you. Mary Jo
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I would gather up ALL the credit cards and give them to your dad to keep. Don't close the account just don't use them and this will also show your dad that you are serious this
If it was me, I would decide which card I wanted to keep for true emergencies. Then even if I wasn't going to close the account straight away, I would cut up each of the remaining cards. I don't really understand how closing accounts impacts on your credit score, but I would really encourage you to reduce the number of open cards you have, because even with the best intentions in the world, the more cards you have, the more trouble you are leaving yourself open to if something does go wrong.
I do agree with Mary Ann about the idea of opening a savings account once the 3000 is paid off, so that you have the money, or at least some of it, when your dad wants it.
The other thing to do is to use this as an opportunity to update the budget so that you don't have to rely on all of your income to survive each pay period. - I hope this makes sense as I don't think I'm explaining it very well.
Close all but one account and give your mother (not your father) the plastic.
Our economy, in fact the global economy, has imploded.
I wouldn't close up all the accounts, but I would make it impossible to charge again. I'd keep the one card with the highest limit for emergencies.
Then, I'd do a bit of research over how much credit someone with your income should optimally have at their disposal. I know there's a weird formula out there. IF you don't have enough credit it hurts you to get new credit, if you have too much, it also hurts you (cause they think even if you don't have anything charged up, you could, and then get in trouble again). Once I figured that out, I would cancel a few of the cards. The ones I thought I should keep open for credit score reasons I wouldn't cancel, but I would shred and throw away. That way, you have the credit technically, but not the temptation.
I think Mary Ann had a great idea with setting up a savings account for the money you owe your dad. I'd also set up a savings account for you with the extra
Thanks for the replies so far.
It may say on your credit report when you opened your credit cards; or your credit cards' customer service groups can tell you. I'd find out the oldest two and close the rest. Just my thoughts on optimizing your credit score.
Recreating Myself
Mary Jo
I agree with what everyone said and wanted to reiterate that if you decide to close any cc accounts, it is very important to keep your oldest account.
Thank you Peg!
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