Originally Posted by Rose Hall
My husband and I took a class at our church a few years ago, called Financial Peace University with Dave Ramsey. Since then we have closed our credit cards. I believe the credit card industry as a whole is a scam on the middle class. The only "person" who benefits from a credit card is the credit card company!
Just my humble opinion (JMHO)
Rose Hall
I understand managing credit but closing them hurts you too, your credit score anyway, and that can hurt you in a lot of ways. It hurts you in not getting credit if you need it, having a low credit score because of not using credit wisely and showing that you can manage credit, which equates to being charged higher interest rates if you do get a loan for anything.
It's a personal decision on what's most important... having no debt and never using credit or, having a higher credit score by using them wisely.