My plan to be debt free

[Radiance]

I'm already not using them at all so no risk on keeping them active. Last time I used credit was in June.
Master card I closed, because they charge annual fee.
With Amex paid for, I only have 1 cc = visa, working on paying that one down.
The other debt are loans which will come after the cc.

[sgfinancialfreedom]

I am still a long way to being debt free.

I have around 27 more years in housing loan to payoff

[lovcom]

But that might be the "good" type of debt and does not really count like CC debt ;-)

[anonymous_saver]

Originally Posted by LMA

Radiance, I would close the cards in which you owe the balance. I believe they will let you do that and then you would work on paying them off. Then keep the master card as your one and only credit card, no need to have more than one.

Sorry to say it, but this is bad advice. Don't close the cards (closing the Mastercard was a good chioce though, b/c like you said, there was an annual fee). Closing your other CC would effect your FICO score negatively. It doesn't hurt you to have it open with a zero balance.

Once everything is paid off I'd use all of the CC on a rotating basis. One time a month that you can easily pay off. This way the cards will stay active and won't be closed by the CC companies. Again, having this history will help your FICO score stay high.