How to Stop Using Your Credit Card

If you have credit card debt, you might be curious how you can stop using your credit card. Whether it’s permanent or temporary, I asked the Debt Free Millennials private Facebook Group what their best tips are on breaking up with their credit cards. I hope you get the chance to use one of these methods!

If you want to learn step-by-step strategies on how to pay off debt for good and stay in control with your money, consider checking out my online program, the Freedom Project!

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👊💥GET OUTTA CREDIT CARD DEBT WITH THE FREEDOM PROJECT

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🎬 OTHER DFM VIDEOS YOU MIGHT ENJOY

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I’M SOCIAL UP IN HURR:

[samieutube]

I cleared my credit card four times with great difficulty. Everytime I cleared the debts I promised myself I won't use it again but still am back to square 1 with huge on credit card

[cg]

I’ve never had issues with credit cards, I pay off monthly and try to only use for big purchases to earn points. I think a big problem is that people use credit cards for every single purchase “to get points” but they lose track of their actual cash flow. To me it doesn’t make sense to charge a 10 chipotle meal, the possibility of paying interest outweighs any reward I’d get for 10 bucks. As someone mentioned, downloading your accounts and seeing how much you actually spend on your debit AND credit card and reconciling that with how much you make is a big eye opener.

I have also found that by using my debit vs credit card I hold myself accountable because that money is gone instantly. you truly get to see that those $5, $20, $50 dollar purchase add up quickly!

[MariahsWholeNewWorld]

That’s such a great idea with the visual tool you mentioned! I like you haven’t struggled with credit card debt but these seem so beneficial for those that do struggle in this area!

[SamBebz]

As I paid them to zero I closed them. For my cash back card I lowered the limit from 10k to 500.

[lynmorris]

Find the motivator to not use them/use them responsibly - doing a full reconcile of a year's worth of expenses including the spending on the cards gives you are shocking wake up call if you are living beyond your means on them like I was. Get the cards cut up/frozen/out of the wallet. Regardless of whether the cards are cut up or one of the other options - the other key was to go through the sites I regularly use and remove the cards as a payment method. Cutting the card up isn't going to help if the details are stored in your account with Amazon or wherever else you like to shop online.

[Natalie_]

Cut them up, or take them out of your wallet and put them in the back of the closet. I think credit cards are harder than student loans because credit cards allow you to pretend you have more money than you do.

With student loans once you make the payment it’s gone.

[dynomax]

How much should you put in your emergency fund?

[JayJackson]

1 month interest alone on 1card was $79!!! Fdyvderghuh!!! I CAN save $79/mo & have enough for airline miles!!! Credit company, thanks but no thanks!!! I’ll keep my money-thank you! Time for plastic surgery✂️

[wyattandwill]

Have an emergency fund that’s ideally at least twice as much as the limit on the cards, that way you may wanna/prefer to grab for the cash instead of the cards.

I’d also recommend just straight out canceling them if you wouldn’t have to pay the balance straight away, you don’t need good credit for anything in life that you can pay cash for. Only serious thing is apartments. If you lack self control you’ll have to find somewhere else to live

[SeChallenger]

DFM believer here; I really like Rebecca's idea, that does sound motivating! I believe there is a place for Credit Cards. There are some good ones out there but from "experience" you have to break up with the ones that are parasitic. These are the ones that you get because you feel you need something yet do not have the cash on hand (better phrasing would be "plan" on hand which was stated in the video). For my wife and I, it was Best Buy, Furniture Warehouse, Sun-glass Hut, Victoria Secret, the Big Bank Credit Card, we would use the promotional "Interest Free" rate as an excuse to spend money. Although, we(really they) were not "earning" interest, these added up and quickly became overwhelming. When life happens (and boy/girl does it) we had to make decisions on not paying a CC or taking out a new CC to pay for the days new problem [<-this is what i mean by parasitic]. We later found out that the Big Bank CC had a limited promotional interest rate (more like a "got you") and it quickly jumped up in APR %. Yes, i know.... it said it in the terms.... [on page 45 in the worlds smallest text]. I haven't worked out, the amount we hemorrhaged because of the relationship we had with CCs but i know it would make me However, on a good note; We are happy to say that this type of relationship with CC's is in the past and we are well on our way to crushing the remainder of our debt (thanks to DFM). I still have CC's, however the tables have turned and now it is I who gets to take advantage of them and their benefit programs because I have the cash on hand to pay them off immediately after I get their succulent rewards. [<INSERT> Dracula Laugh]

[synchrogrl]

Oh! I thought it would have been car loans if I was going to guess.

[dynomax]

4:56 car repairs should never be an emergency