We took the big plunge and cut up all but two of our credit cards. I won’t cancel the accounts, as doing such could seriously hurt our credit score. But since the cards are cut up I won’t be able to use them- at least not on the spur of the moment. The two we saved not only had the lowest interest rates, but both offered rewards (one based on redeemable points, and the other based on cash back).
From here we will pay down one of the cards we saved (as it has the lowest balance) and use it ONLY for gas so we can easily track how much we spend on gas each month. The gas card will be paid in full at the end of each month, within the cards grace period for interest charges. The other will be for emergencies (like car repairs that savings won’t cover).
So why don’t you take this step today too! Cut up all but one or two cards. If you can’t bear cutting them up, drop them into some Tupperware filled with water and put the Tupperware into the freezer. At least that will keep them out of site, out of mind, and most importantly- out of your wallet.