There are ways to maintain a good FICO score by limiting their use
The idea of living without credit cards is being given more consideration at a time when Americans hold more than $850 billion in credit card debt, four times as much as in 1990.
Of course there are significant benefits that come with credit cards — convenience being just one of many — so be sure to weigh them carefully before rushing to close your accounts.
A key concern is the role credit cards play in building your credit and maintaining a credit history. Remember that building good credit is important if you're in the market for a mortgage or other type of loan. Prospective landlords or employers often run credit checks, too. So holding on to your credit cards — even if you don't use them often — may be in your best interest.
Credit cards also offer certain consumer protections; for instance, issuers will often refund charges for faulty products. Cards are also necessary to rent a car, and, if managed properly, can reap financial perks through rewards programs.
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
