Shred 'em, keep 'em,....?
Find a Conversation
Shred 'em, keep 'em,....?
| Wed, 04-15-2009 - 4:57pm |
Out of curiosity...
What do you guys do with your paid off credit cards? Do you shred them and cancel them or do you tuck them away?
I actually have one paid off credit card. It's for the clothing store New York & Company. I don't use it often and when I do I'm smart about it... I use it to get the 20% off offer and then I pay it off immediately with a check in the store. : ) I'll be keeping that one.

I pray for the day I have this problem! LOL.
Right now we only have TWO credit cards and they both have a balance.
As for my other cards- I shread and cancelled them. I know the theory is that your credit score takes a hit but MY theory is that unless you are planning a major purcahse - new car, new house, etc. that will need your credit you might as well get rid of em and let your credit rebulid.
So that's what I did.
What a great question!
I keep all my credit cards in red wooden box and stored up high. I don't cancel because you never know when you might need them.
Mary Ann
If they are store cards I shred, shred, shred, shred them. I want no more temptation at all in my life!. Right now we have Visa cards three cards that we are working to pay off. I just closed one of them and I am shred, shred, shredding the card tomorrow.
The other two we will pay down and then keep one or both of them tucked away just in case of emergency but trust me once I get them paid down it is going to be a real emergency before I rack up debt again!