Question: Should I Cut Up My Credit Cards?
Answer: This question requires you to look at the bigger picture and understand some economic logistics. To start with, it’s critical to know the difference between debt and credit. One enslaves, the other empowers. One expands, the other decreases. In this way, both debt and credit are extremely powerful, but at opposite ends of the spectrum. Access to credit is extremely powerful and has the potential to create exponentially positive results. Misuse of credit is also extremely powerful and can exponentially create negative results. Cancelling a credit card and cutting up a card because you believe it’s necessary to get out of debt is ill-informed advice and will sabotage financial blessing. It reinforces scarcity, fear and doubt which are not from the Lord just as much as the bondage from non-productive, consumable debt is. Join me on the CWA Radio Network for Financial Grace Radio to unpack this huge, critical subject and learn how to manage and prosper from credit, despite a potentially ‘maxed out’ debt situation.