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Can I get rid of ALL my credit cards???

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    Can I get rid of ALL my credit cards???

    I am halfway through paying off a significant amount of debt. I cut up 2 major cards last year ( never use the store cards ) and now have just one major cc that I use because I travel frequently. How difficult is it to travel without the cc? I will keep the account active so that I can continue to shop online (not a problem for me, I HATE to shop) Anybody do this???

    #2
    It's entirely possible... For a while my father insisted he/my mom should do this as well (ditch CC's completely), so I know the arguments on both sides pretty well...

    If your checking account has a Visa/MC debit card, it should pose little to no problems for you. In almost all cases, they can be used just the same as a CC. However, especially if you travel, you have to be very careful to make sure your checking account has a significant buffer in there... Hotels, restaurants, rental car agencies, gas stations, etc. all regularly place holds on some pretty large sums. For people who don't have a sufficient balance, that can lead to huge overdraft fees--not a good time.

    Yes, it's possible, and many people do just fine without any CC's. I just would caution you about debit card holds.

    btw, in today's world, travelling without a CC or debit card is just about impossible, or at least a SIGNIFICANT hassle. ...just to cover that possibility for your question as well...
    Last edited by kork13; 12-16-2008, 03:55 PM.
    "Praestantia per minutus" ... "Acta non verba"

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      #3
      You can also have a checking account with a debit card just for travel if you want to keep your regular checking safe. You can transfer money to it when you are going to need it.

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        #4
        The only caution with using your bank card is that you have to realize that vendors do put "holds" on your account for transactions. These transactions have no impact for credit cards, but with debit cards this places a hold on actual funds. Enough holds for enough dollars could put you in jeopardy of overdrawing your checking account without realizing it.

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          #5
          That does concern me since I travel so often. I'm leaning toward keeping the one cc and just NOT carrying it my wallet.

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            #6
            Originally posted by eeyoresmom View Post
            That does concern me since I travel so often. I'm leaning toward keeping the one cc and just NOT carrying it my wallet.
            I think that would be a fine solution. Simply having it doesn't mean anything. And even for those times you may need to use it, do so responsibly and pay it off at the end of the month, and it's not an issue.
            "Praestantia per minutus" ... "Acta non verba"

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              #7
              Originally posted by minnie1928 View Post
              The only caution with using your bank card is that you have to realize that vendors do put "holds" on your account for transactions. These transactions have no impact for credit cards, but with debit cards this places a hold on actual funds. Enough holds for enough dollars could put you in jeopardy of overdrawing your checking account without realizing it.
              This is quite true, had a hotel recently put a $100 hold on my account. Not major but enough that I was careful! And it didn't release super fast either! That I don't like.

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                #8
                Traveling without a CC is pretty inconvenient. Well from my perspective. You have to continuously exchange money to the currency you are at and if you're short by a bit, then you'll have to exchange for that little bit and the service charge might not be worth it.

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                  #9
                  Well, if you are a frequent traveler, then i would never suggest to to getting rid of a credit card. Credit card is a very good utility to have while traveling.

                  But for shopping online, i would suggest you to use a Virtual Credit Card instead of a Credit Card.

                  Regards

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                    #10
                    I travel occasionally without either a credit card or a debit card/checking account.

                    If it's a short trip, cash is usually fine. If it's a long one, a prepaid debit card works just fine for almost everything you'll need to do. The only exception might be renting a car, which I've never needed to do.

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                      #11
                      With all the stories of people's credit accounts being shut down without prior notice for no reason other than the credit card companies' own troubles, I'd be very nervous travelling on just a CC.

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                        #12
                        I generally use my Amex when I travel, but my employer offers a "travel advance" check/cash option for those scenerios where using a credit card isn't possible, or at the traveler's request.

                        Example: If I am traveling overseas for a week, I can request $10k or whatever I expect to spend in advance, and get it in cash before I leave. If I spend more than that amount, I get reimbursed for the additional funds. If I spend less, I have to pay back the remainder within 30 days of the trip ending.

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                          #13
                          My husband travels alot for work and gets reimbursed so we have a Visa that we use.

                          As for hotels etc they will put a hold on your debit card-when we were traveling for pleasure I gave them my Credit card number at sign in and then we used our debit card at the end. I just didn't want a huge hold.

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                            #14
                            My ING Direct debit card number was used in a fraudulent transaction, and I was contacted by ING in a thursday afternoon informing me they were killing my debit card immediately and mailing a new one.

                            I had $3 in cash on me, no food in my house, I needed gas, and to do some holiday shopping. With my debit card canned and no brick and mortar branches to make a withdrawal at, having a credit card allowed me to survive for 5 days until the new debit card arrived. I was glad I never cut up the credit card.

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                              #15
                              Originally posted by red92s View Post
                              My ING Direct debit card number was used in a fraudulent transaction, and I was contacted by ING in a thursday afternoon informing me they were killing my debit card immediately and mailing a new one.

                              I had $3 in cash on me, no food in my house, I needed gas, and to do some holiday shopping. With my debit card canned and no brick and mortar branches to make a withdrawal at, having a credit card allowed me to survive for 5 days until the new debit card arrived. I was glad I never cut up the credit card.
                              I think this is why I will never give up my local bank.

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