by Hope
The credit cards are paid off. The cards are cut up. And I’ve started making the calls to close the accounts.
Phew, the difference in customer service is crazy. One account took me over an hour just to close it and then a couple of days for it to actually be processed and receive confirmation. One account took me 3 minutes and I received confirmation immediately. (Neither of these accounts was the Southwest Credit Card, I just happened to take a picture of that one when I cut it up.)
Effects on my Credit Score
I’m waiting to see what closing the accounts does to my credit score. And yes, I know that at this juncture of my life, my credit score is the least of my worries. But it’s still something I watch. It’s been fun to see it hit the low 700s as I paid off all my credit cards.
It is also going to be interesting what happens when my mortgage company finally closes out my account with the credit bureaus. I wonder how long that will take?!? My mortgage has been on the “negative” of my credit score since I got it. Always said too little of the balance has been paid down even though I never missed a payment.
Mind on My Money
Outside of daily care for my mom. Cooking for my dad and I. Visiting different churches. Reading library books (I check them out on my ipad from my Georgia library. I haven’t visit the local library to set up an account there.) Scheduling monthly family dinners. And the occasional trip to my parent’s neighborhood pool. I am focused on work and money.
I’m not where I want to be as far as steady income goes, but I’m getting there. And having money in the bank and the financial pressure off has really helped my mental health.
Hope is a resourceful and solutions-driven business manager who has spent nearly two decades helping clients streamline their operations and grow their businesses through project management, digital marketing, and tech expertise. Recently transitioning from her role as a single mom of five foster/adoptive children to an empty nester, Hope is navigating the emotional and practical challenges of redefining her life while maintaining her determination to regain financial control and eliminate debt.
Living in a cozy small town in northeast Georgia with her three dogs, Hope cherishes the serenity of the mountains over the bustle of the beach. Though her kids are now finding their footing in the world—pursuing education, careers, and independence—she remains deeply committed to supporting them in this next chapter, even as she faces the bittersweet tug of letting go.
Since joining the Blogging Away Debt community in 2015, Hope has candidly shared her journey of financial ups and downs. Now, with a renewed focus and a clear path ahead, she’s ready to tackle her finances with the same passion and perseverance that she’s brought to her life and career. Through her writing, she continues to inspire others to confront their own financial challenges and strive for a brighter future.
Just curious, I know Dave Ramsey says cancel credit cards. But, if mine don’t have an annual fee, I never cancel them. Eventually the card company does I guess. Do you cancel them because you want the temptation to be gone? Or is there another reason?
She has quite a few – so I think it’s to remove temptation, however I think she mentioned keeping 3 open even after all debt is cleared off.
Thanks. Yeah I probably have 10 open, I’m not even sure. Then again I don’t ever feel tempted to go use them, check their credit limit etc. I think the cards are in a drawer someplace. I just use the same one or two and pay those off every month. They don’t have an annual fee so at some point I get a letter than the credit card company closes the unused ones. Seems like you have a better credit score if you have lots of available but unspent credit available. They are usually ones I got some kind of bonus for opening.
Based on comments, you will still have a few open (3?) Or did you end up closing all but one?
I do still have a few open. Only one I use.
Currently have: Southwest CC (business card with $7500 limit, but never use it so I just leave it,) USAA (not in use and oldest with a $5K limit), Sams Club (not in use, $1K limit, leave open since my family uses Sams Club and all the points = free membership plus on occasion when travelling I will get gas there since it’s much cheaper,) and Apple CC which is what I use to pay anything-all reoccuring bills, etc.-that don’t have a CC charge to avoid exposure to my bank accounts and pay it off every month or rather multiple times a month.