Quote:
Originally Posted by mikeyis4dcats.
Your credit score is partially based on available credit, but you also take a hit for closing accounts.
My credit score today is around 800-820.
I totally get the credit card debt trap...in fact I fell into it hard myself years ago and have paid off over 30k in credit card debt.
But that doesn't make credit cards evil....any more than a gun is evil. Both are a tool.....how you use it is on you.
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Wife & I have a few cards between us. I've been bad about them for awhile and just recently decided it was time to put a stop to it - I've got her card paid down almost to $0 and then going to start on mine. Going to start using them monthly for a few things and then pay them off each month. But it'll be nice to have something to fall back on when the inevitable emergency happens and we need $4000 right now.