Shred 'em, keep 'em,....?

iVillage Member
Registered: 04-13-2009
Shred 'em, keep 'em,....?
4
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.


 

-Kels

 

iVillage Member
Registered: 07-02-2008
Wed, 04-15-2009 - 5:11pm

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.

iVillage Member
Registered: 03-17-2003
Wed, 04-15-2009 - 5:35pm

What a great question!

iVillage Member
Registered: 11-17-2007
Wed, 04-15-2009 - 7:29pm

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


iVillage Member
Registered: 06-25-2006
Wed, 04-15-2009 - 8:15pm

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!