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Debt Destroy

Can You Destroy Your Credit Card To Lessen Your Debt?


mcbl Rep Points: 90
Posted on April 8, 2009 at 11:08 am
It happened to me when my credit card bills summed up to 7digit. I stop using my card and cut it. Voila! I even save a dollar a month from my salary. 

lynnemg Rep Points: 830
Posted on April 8, 2009 at 9:00 pm
I think that destroying the card o you cannot use it is a better option than cancelling the card all together. It saves you money because you are no longer using the credit card and you are reducing your debt.

critiquemind Rep Points: 355
Posted on April 9, 2009 at 12:27 am
my husband sliced my credit card after he found my card lying around our room. he always hate credits. he always tells me to pay in cash or not to buy at all if you do not have money.

Tora Rep Points: 245
Posted on April 9, 2009 at 1:55 am
I haven't ever needed to cut up my credit cards to decrease my debt.  What I usually do when I find my balance getting too high is lock my credit cards up in my safe.  If the cards aren't with me, I'm not tempted to use them so much.  Having to go home to get the card to pay for stuff really makes me stop and think about how necessary what I'm planning to buy really is.  Usually, I can go without it.

tenchi18ph Rep Points: 1,140
Posted on April 9, 2009 at 3:57 am
When I cut off my credit card. I always make sure to cancel my subscription to the credit card bank...

roadsider Rep Points: 1,970
Posted on April 9, 2009 at 4:01 am
Yes, that should work.

Raghavendran Rep Points: 70
Posted on April 9, 2009 at 4:06 am
It is always advisable to limit the usage of Credit card.  If we limit the use of credit cards, then there are bright possiblities to reduce our debts.