Huff Post: If You Read One Article About Dropping Credit Cards, Read This One!

The media is hyping it up all over the place. The economy is improving, Real Estate is coming back in many areas and the sun is shining bright today. With all this media hoopla popping up, many folks are starting to look at that stack of credit cards in their wallet and wondering what to do with them.

They know they need to do something about their sagging credit score. Those extra credit cards sure look like a great place to start. Should you hold on to them and even break ’em out every now and then to boost your credit score? Or would you be better off just saying Good Bye and Good Riddance? Read more



  • Dropping your credit cards is the worst thing to do. It not only lowers your credit score, it also reduces your financial flexibility and keeps you from earning rewards (miles, points, cash) that a debit card, cash, or checking account do not provide. Like any tool, credit cards are to be used appropriately, not to be avoided like the plague.

  • Jay /

    How do you feel about dropping credit cards that have zero balance, however charge monthly fees? Basically, 2 cards that I got a couple years ago while rebuilding my credit.

  • Caitlin Hopper /

    While it’s usually not recommended to close a credit card account, since this removes credit history from your reports, it can be a good idea to do so when you’re not using the cards and being charged a monthly fee. You may be able to negotiate with your credit card company and have them lower or remove the fee (it never hurts to ask!) if you feel like it’s worth the effort. Just know that closing the accounts can have a negative impact on your credit score!

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