Why you should not cut up all your credit cards

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Premier Credit Plus
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Why You Should Not Cut-Up All Your Credit Cards

• Every month, we receive our credit card
  statements via email or post. Every month, some
  will open the statements immediately, and some
  will either tear them up and get rid of them or
  leave them in the far reaches of the
  room,invisible to the naked eye.
• This age-old problem is the one we find ourselves
  struggling with daily. There is so much
  information out there that we can locate.
  However, the information is not particularly
  consistent or helpful.
• What remains steadfast is that, if you have debt,
  whether we cut up the cards or not, that debt
  remains until you are paid up. Out of sight, out
  of mind? Not so much. Rest assured that the
  credit card companies will come calling.
• The decision will ultimately be yours.
• Below are a few reasons why your plastic should
  not meet a hasty death

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Those Cards Are Not the Problem Here

• There is a mindset that says we NEED a credit
  card in case of emergencies. Its safer to buy
  airline tickets because of the built-in travel
  insurance, and if anything else transpires, we
  will always have back up. That is what we tell
  ourselves, and of course,we can be trusted to
  tell the truth at all times. Most people get by
  without a credit card, but the allure of a credit
  card is insanely tempting. Nowadays, you can
  apply for a credit card through your banking
  application on your phone and your card with be
  couriered to you. Even better!!
• If you are privileged enough to have your cards
  paid, then congratulations to you. However, there
  is a fair number that does not fall into that
  category. Deep down, we know who is to blame, but
  first,lets rail against the credit card
  companies.

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Draw up a Budget

• It is recommended that every one of us follows
  this rule. The picture from the budget will
  indicate with clarity how your finances stand.
  Certainly, this will all depend on how serious
  you are about clearing your debt, especially if
  you have more than one credit card. It will be
  incredibly challenging, having to curb spending,
  and will again come down to you and the
  relationship that you have with money. The
  significant advantage of a budget is that it
  clarifies the situation,and you realize the chaos
  that you have created for yourself and have a
  tool to deal with the debt. With a budget, you
  have a fighting chance of slowing the spending,
  tracking your progress, and, most importantly,
  not falling into recurring patterns.
• Should you be late with a payment, Suze Orman
  quotes a few essential facts and figures to which
  we need to pay serious attention.
• Ultimately, its your relationship with money
  that needs to be addressed. Nobody is forcing you
  to spend without consequence, and having a credit
  card can be a heady experience. If you have
  additional credit cards, you might need to devise
  a plan where you whittle them all down to ONLY
  onethereby reducing the interest on these cards
  quite significantly.

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Cash Versus Cards

• Being able to swipe your card is always so much
  easier and more efficient.
• There is a belief that cash is king. Many
  transactions are purely cash-based, and thats
  fair. Cash is tried and tested. This money can
  come in the shape of hard cash or an ATM card.
  Should your ATM card be stolen, without credit,
  there is no backup, which could leave you in a
  tight spot.
• Being presented with a cash only option, I
  might think twice about entering a shop or
  restaurant. It can be a bit of a annoyance to
  find an ATM to draw cash, and for the most part,
  its not a healthy option to carry cash. The
  temptation is a dangerous thing. Most companies
  are looking for credit cards to be held as
  collateral. For example, a rental company looks
  for credit card details that they can keep on
  file in the improbable event of something
  happening to the car.

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• Everything is incredibly easy nowadays, so if a
  credit card is stolen, defrauded, or otherwise,
  it can all be resolved either tele phonically or
  online. Which too, makes the idea of a credit
  card even more exciting.This convenience is a
  glaring indication of how technology has
  progressed.
• Should you purchase airline tickets, travel
  insurance will accompany the purchase if a credit
  card is used. Should you wish to book
  accommodation, most of the venues choose credit
  cards with which to make the reservations.In the
  event of fraudulent transactions made on the
  credit card, pick up the phone, call the bank or
  the credit card company, and the affected card
  would be cancelled and replaced.

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The Perks of a Credit Card

• By cutting up all of your plastic, you can bid
  your perks farewell.
• Banks/credit card companies have marketing
  strategies in play that affect how and where you
  shop. If you shop at a particular place defined
  by these companies, points will be earned to be
  used at a later stage.
• All of this sounds amazing, but this is where you
  decide where the line is, and it is a great test
  as to how strong your resolve is.
• Some say it will and those that say no.

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Will This Affect Your Credit Score?

• You will need to do your research here and make
  your own decision. You might not require credit,
  but a good credit score will always be a
  necessity unless you are wealthy enough to write
  a cheque.
• In my mind, we cannot be without a credit score
  at all in our current times, and it is to be
  protected at all costs. Contact us 844-829-2292

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