I'm carrying credit card debt which I want to reduce…Is there a way to decide which credit cards to hold on to?



I'm carrying 5 credit cards but I wanted to know which ones to drop and which to hold on to. Some of the cards are more recent and have better reward programs than others. I know credit card debt is bad but I don't want to have to cull all of them at once. What do you suggest ?

I'm carrying credit card debt which I want to reduce…Is there a way to decide which credit cards to hold on to?
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8 Replies to “I'm carrying credit card debt which I want to reduce…Is there a way to decide which credit cards to hold on to?”

  1. Try to pay off the ones you owe money on and don’t want and then call the company and tell them you want to know what you could do to end it. I would keep the ones with the lowest rates and I would also just try to keep no more than 2 of them


  2. Try to pay off the ones you owe money on and don’t want and then call the company and tell them you want to know what you could do to end it. I would keep the ones with the lowest rates and I would also just try to keep no more than 2 of them


  3. Try to pay off the ones you owe money on and don’t want and then call the company and tell them you want to know what you could do to end it. I would keep the ones with the lowest rates and I would also just try to keep no more than 2 of them


  4. Try to pay off the ones you owe money on and don’t want and then call the company and tell them you want to know what you could do to end it. I would keep the ones with the lowest rates and I would also just try to keep no more than 2 of them


  5. Try to pay off the ones you owe money on and don’t want and then call the company and tell them you want to know what you could do to end it. I would keep the ones with the lowest rates and I would also just try to keep no more than 2 of them



  6. Try to pay off the ones you owe money on and don’t want and then call the company and tell them you want to know what you could do to end it. I would keep the ones with the lowest rates and I would also just try to keep no more than 2 of them


  7. Bill C.’s answer above is right. Dump them all. Learn how to live on cash and use a debit card instead of credit. Read Dave Ramsey’s book called the Total Money Makeover. This will show you that Cash is King and credit cards are idiotic. We do not even own a credit card. Don’t need one. We cut it up 10 months ago and are much better off for it. Yes, you really can live without a credit card. People will think you’re weird. That’s when you know your doing something good. Broke is normal. Be weird. Read the book and it will change your life. Follow the steps and be a multi millionaire when you retire. It’s not a sales thing or doing those stupid internet surveys for cash that never works. It is common sense stuff about finances your grandmother would tell you. Good Luck and Dump the Debt.


  8. If you are going to keep a card, then keep the ones with the higher limits and the older ones. Start with getting the lowest debt paid first. Then keep it at zero. Use the money you were paying on it to pay the next higher one. When it is zero keep it there. Use that money to pay the next. Keep going until you’ve paid them all.

    As far as credit goes, history is important. That’s why you should keep the older cards. Credit limits are important. That’s why you should keep the higher limits. The rewards/perks are false. You pay more in interest and penalties than you’ll ever get.


  9. you may not have to worry about canceling any
    the way the economy is credit card companies are canceling some on their own some due to lack of use, some due to other reasons
    I would just hang on to those you have and if you are lucky enough maybe none of them will be canceled but you at least have them if you need them


  10. Keep the ones with the best deals. You want low interest rates, no annual fees, and adequate credit limits. Ignore non-cash rewards unless you can actually use them. And yes, you should get completely out of credit card debt ASAP, but don’t drop the cards themselves unless they cost you money to keep them.


  11. Always keep your oldest card open.

    Pay off the debt on all the cards. You can keep an account open for the rewards without having debt.


  12. The older ones especially if Visa or AMEX since store cards aren’t that useful. Another factor is the APR. You want to keep the ones that have a low rate if you keep a balance but if you pay in full it doesn’t matter. The rewards cards are always going to have a higher APR.





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