Credit Card Cut Up

We have a box at home full of financial stuff.  Social security cards, birth certificates, credit info, you name it.  Also lurking in this box are credit cards of old.  These are the cards that are not used, but held on to, because “you never know”.  I guess I should really make that sentence say “You never know when you will need a new big screen tv”.  Doesnt sound so much like security if you say it that way.  So, today I pulled out a Best Buy Credit Card, Home Depot Credit Card, and a Wells Fargo Credit Card and cancelled all three.  Cut those things into little pieces.  I should make a cool collage with them.  I havent used them in years, and they werent hurting anything so why cancel them?  I think the main reasons I did it are:

Less to worry about and track

I am pretty good about pulling my credit report every six months and taking a peek.  So, every six months I look this thing over and I say to myself “What is that?”.  It would be to simplistic if they called the Best Buy Card “Best Buy” on my credit report.  No, it has to be some initials and numbers.  So first you get scared that someone opened an account in your name.  Then you compare account numbers with all the cards.  Finally, there is that relief where you say “Oh, its that darn Best Buy card that I never use because charging entertainment is stupid”.  Why have it then?!

Criminals suck   

Seems like every week I am hearing on the news about another company that was broken into by hackers and account numbers stolen.  If someone stole my account number to one of these cards, they could go bananas buying things because I would never know it was happening.  Remember, these are cards that are put away and never checked.

I won’t use them in a weak moment

Six months no interest sounds pretty sweet.  Getting weaker.  AND you will knock 10% off the purchase price?  Where do I sign?  I have to avoid these moments because lets face it, if life hits you in the next six months, and it will, and you don’t pay it off by then, all that interest comes due.  That is what they want to happen, so don’t fall for it.

——————

I’ll be honest, there are still two cards in there hiding.  I have to get pumped up before I cancel those, because they are really good ones.  One has a $25,000 credit limit.  I can do a lot of damage with that one.  The other loves to send me checks with low interest rates.

When I get to them, I will let you know.  I need a push.  Seriously, someone talk me into it.

Thanks for reading,

The Debt Whisperer

Teaser Photo Attribution: By Kainr

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