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12-25-2008 08:41 AM
12-25-2008 08:51 AM
Until the others who are more experienced chime in, the link below may help answer some of your questions.
12-25-2008 08:51 AM - edited 12-25-2008 08:52 AM
Hi tesnomom, welcome to the forums and happy holidays!
Fused wrote an excellent thread stickied at the top of the forum on closing credit cards. It sounds like a great place to start.
ETA: Sidewinder beat me to it!
12-25-2008 09:16 AM
12-25-2008 03:07 PM
12-26-2008 05:27 AM
12-26-2008 08:29 AM
I think you should do whatever makes you feel better for peace of mind, however as a suggestion, instead of closing the cards if you're concerned about them being stolen, why don't you just leave them at home?
I have 15 open credit cards and while I wish I had less accounts as that would make it easier for me to ensure they don't go inactive I don't want to close any of them outright.
When I go out, whether it's for work or shopping, I usually only take my debit card and whatever credit card has caught my attention for the month. Right now it's Cap 1 because of the nice CLI they gave me earlier this month. But if I know I'm going to be shopping at Best Buy, I'll grab my BB CC, or if I know that I need to make a purchase with my HSBC card to prevent closing from inactivity I'll grab that one.
I think I have only taken every single card with me once, and that was when I was Christmas Shopping this year where I used every card, but one, to help keep them active.
The majority of the time, all of those credit cards I know I won't be using stay at home. Now if my house ever gets robbed, that could be a problem, however if my wallet gets stolen, which I think is much more likely, I'll have only the debit card and the one credit card in it to worry about.
Additionally, not taking those cards also helps me to not spend money I don't have.