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Closed 4 accounts this past week :)

December 14th, 2006 at 07:35 pm

One Sharebuilder account is closed, plus HSBC, the Chase Sonycard, and Kohl's. Despite all the reasons for keeping multiple credit card accounts open a few blog entries back, I just don't want the hassle--or the temptation of too many open accounts.

I've been reading Dave Ramsey lately, who says no credit cards, ever. However, I tried that before, and was burned*. So I'm opting for "moderation in all things" and at least reducing the number of accounts I have open. It feels good! Smile

(*There was some kind of business I needed to do, and they wouldn't take a debit card. I had to quick apply online for any old card I could find, that would give me an account number to use right away. Not the best way to choose a card.)



Posted in Credit Cards, Progress, Simplicity | 5 Comments »

5 Responses to “Closed 4 accounts this past week :)”

  1. janH Says:
    December 14th, 2006 at 07:40 pm 1166125219
    1166125219

    I, too, have been closing cards--the store cards first. I have a file of closed accounts and it feels good!

  2. Aleta Says:
    December 14th, 2006 at 07:43 pm 1166125397
    1166125397

    I think that everyone needs 1 credit card for emergencies alone. But, it should only be used for emergencies when you're climbing out of debt and use only checks or cash until you get everything else paid down and in order. I think that you are right.

  3. LuxLiving Says:
    December 14th, 2006 at 07:50 pm 1166125851
    1166125851

    Staying Debt Free - everyone has to decide for themselves what their comfort level is. Sounds like you are making your financial life more comfortable FOR YOU! good deal lucille!!

  4. baselle Says:
    December 15th, 2006 at 02:39 am 1166150353
    1166150353

    1 card for emergencies and ease of use. If you are slipping in willpower, its a lot easier to tighten up on one card. Besides. two cards don't freeze well. Big Grin

  5. Amber Says:
    December 15th, 2006 at 04:16 am 1166156188
    1166156188

    way to go, I closed a card a couple of months ago. yes my credit score went down, however, better closed with a zero balance

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