OT - I cut up my Visa. - YouLookFab Forum

OT - I cut up my Visa.

Niki Lea

After the umpteenth argument with my hubby about money, I have cut up my credit card. It's a goner! We're both pretty frugal (and largely credit debt-free), but my shopping habits can definitely get out of hand and we'd like to visit Spain next year to see our good friends who moved there in January.

I'm a bit nervous about life without credit. But I think it's going to save me buckets of money I would normally spend on silly stuff, like coffee and food. This also means next month I'm going to try my hand at thrifting more of my clothes. I just discovered a great shop in my neighbourhood that has lots of nice labels...not too much in my size, but I'll find a way to make it work.

Anyone else credit card-less these days?

14 years ago

General

13 replies

Latest reply was from Sara

chewyspaghetti

Veteran

Yep! We have been credit card free for the last two years. Sometimes it's difficult, but it's so much better knowing that we are living within our means. I think that having a budget and putting money away regularly helps, too.
Congrats to you!

14 years ago

Louise

Veteran

I need to do this too my credit card is higher than I would like and things cost so much more once the interest has been added over the length of time it takes to them off x

14 years ago

teri

Veteran

i just recently combined my Loft and Kohls card onto a low 8.25% credit union Visa card. Then yesterday I gave all my credit cards to hubby to lock in his briefcase at work.... no more shopping for me for a while

14 years ago

(website)

Veteran

We use Amex but pay it off each month so we don't accumulate debt. My BF is a finance manager so you can imagine the money gets *managed* in our house lol. I'm more of a spend as I go gal after earing cash tips for so many years. The idea of a budget is good for me and I'm trying this year with my clothing. Good for you for cutting it up!!!

14 years ago

RandomThoughts (Andrea)

Veteran

I use my Master Card but pay it off every month. It's still far too easy to spend plastic money, however so I applaud you!

14 years ago

Anonymous

Sounds like a wise move - CONGRATULATIONS on taking control of your finances!

14 years ago

Sarah

(website)

Veteran

I have several credit cards, but the rule is they have to be paid off immediately otherwise I can't have them.
We feel it's wise to have a Visa and Amex "just in case" and I only use two retail cards that actually have perks worth a darn and that also allow me to pay the balance at the register after the purchase transaction.
I worked in finance also, and credit card debt scares me.

14 years ago

Janet

(website)

Veteran

Congrats! I did that once years ago and paid off my balances on everything (car payment, department stores, bank card) and then just when I was starting to see my savings account build, I got laid off of my job.

These days we use our credit cards but we never carry a balance, unless it's a no-interest deal (we did that for some patio furniture, and for a new heat pump). I'm very conscientious about not having credit card debt.

14 years ago

qfbrenda

Veteran

We have a credit card, but it's only used to pay the "every 3 months" bill for my emergency cell phone. Good for you for cutting it up! A credit card shouldn't be an emergency fund. That's what an emergency fund is for.

14 years ago

Lisa

Veteran

I have one credit card and it gets paid off every month. After years of living in debt, once I paid off all my cards, I went down to one. I'm really not a fan of store cards, I may miss out on their "perks" but I figure, if I couldn't charge it on my one credit card, then I can't buy it. Multiple cards are just too much trouble for me. Since my card is also used for my bills, not having a card wouldn't work for me.

When I was learning how to control my debt, I had to do the ol' freeze in ice routine with my cards while I paid them off. Until I re-learned how to spend wisely, I couldn't walk around with any credit cards in my wallet. I also set up a budget for every item I spent money on and an envelope system to save for items such as clothes. Then I could shop with the cash I had. Now-a-days I don't need all these extremes but for a long time I had to really learn how to handle credit cards and a household budget.

14 years ago

Niki Lea

Veteran

My husband still has his, since he can be trusted not to shop on a whim. I will probably end up getting a replacement in a few weeks, for emergencies, once the habit is broken. My lunch-break coffees were adding up to almost $50/month. That's a lot of dough on something I can make at home and bring to work.

14 years ago

marianna

Veteran

Yep! I don't use any credit anymore. I can only buy if I have the cash. It's not easy but I'm better off living this way.

14 years ago

Sara

(website)

Active Member

I still have a credit card, but use it only for groceries and gas and pay it off every month. I only keep it because of the rewards. Since switching to cash for purchasing things that are wants and not needs, I've found that I tend to think about my purchases a lot harder. Not only is it great for the budget, but it keeps the closet from getting too full, and means that I am more likely to buy only things that I really love.

Good for you for going card free! Once you get used to it, you'll wonder why you didn't do it sooner.

14 years ago

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