How To Get Rid of a Credit Card

By Subodh / March 17, 2010

Credit card debt is one of the major problems that assail every household now and again. if you are sick and tired of one, its time to get rid of it. So here’s how you do it.

What is a Credit Card?

First of all, let us see exactly what is a credit card? It has become almost a fashion to keep at least one credit card in your bag, but do you know what they are? These cards let you pay later, but at a much higher price than normal. So when you buy, you end up spending more money than you originally intended.

Make a Commitment

Get rid of the credit card today, because with that you can do the following:

  • Ultimately, it’s a debt. Credit cards actually encourage you to spend without thinking, and buying things on an impulse. Curb your enthusiasm.
  • Monitor your spending. You do not want to spend a fortune everyday. By not having a card, you would run low chances of spending your cash.

credit card debts

Have Your Credit Card Canceled

Just cancel your card. Remember, you do not require much more than three cards in your purse, which are driving license, social security number, and automatic teller machine card. All others are redundant. You can also have a debit card, but that is actually all you need. So all you need to do is talk to your bank and ask them to cancel your card because you do not want it anymore.

Hide Your Credit Card

Hide that card. If it is not in front of you, you would not think of spending money on it. So remove your card and keep it somewhere else.

  • Have someone else hide it for you. Make sure the person would not misuse it.
  • Seal it and keep it in a far corner of your closet.
  • Hide it inside a book you don’t want to or intend to read.

Spend In Cash

Make all your major spending in cash. When you do that you know exactly how much you can save and how much you don’t need to. a lot of financial planners recommend spending in cash, because that way you are aware of the money you are spending, and the credit cards you should be avoiding.

Don’t Apply For Another Credit Card

Just do not go back to getting another card for yourself if you are out of the quagmire of credit card debt. All you need to do is get out of the issue and stay away from it. A lot of people live really happy lives without the so-called benefit of a credit card. You can get rid of it too. You would end up spending way less money than you had originally, and your life would be spent in a much easier pace. By falling for scams and hoaxes of “reduced interest rates” you would end up with useless credit cards and a lot of excess money spent.