To cut or not to cut


If you have listened to Dave Ramsey, attended an FPU class, a Crown Financial Ministry class, or read some of my earlier posts, we recommend that you cut-up all your credit cards. To change-up William Shakespeare’s famous line from Hamlet, “To be or not to be, that is the question:” into to cut or not to cut, that is the question let’s see if it is indeed wise to cut-up credit cards.

The theory behind cutting-up your credit cards is that if you don’t have them, you won’t use them. If you don’t use them, you won’t get into debt. This is a very good theory. However, not everyone can restrain themselves from calling their credit card issuer and ordering a new card. Is this wise? Of course not, not until you have addressed and conquered your addiction to living beyond your means and you know how to use a credit card the right way.

Having one credit card is good, as long as you know how to handle your credit card and are handling it the right way, otherwise, don’t have it. In my follow-up post to this, I will discuss some of the advantages of having a credit card.

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