How would retailers fare if credit cards didn’t exist and we reverted to cheque books? They would undoubtedly struggle. Notwithstanding this certainty, most retailers now charge us up to 2% extra on our credit cards to say thanks. When this became common practice, it was the last straw to encourage me to cut up my final credit card.
Before that, I was suffering from frequent flyer points (FFP) anxiety like the rest of the world. Everywhere I went, everyone was talking about points. There were promotional points, shopping points, different types of flying points, banks offering better points,  and no matter where I banked or shopped, I felt like I was always missing out on the best points. I had been passively accumulating points for so long that I decided to try booking a flight with my stash, but of course I was unable to do so. I thought there must have been a problem so I called the airlines. They said there was no problem but the first available flight using my points was in 2023! When I cut up my credit cards, my FFP anxiety instantly disappeared. Now when I hear the chatter of promotional points or better point paying credit cards, I sail off thinking about Smooth FM, world peace and Michael Buble.
I also never understood the concept of borrowing money every month from the bank and then paying it back at the end of the month, only to immediately start the process again. If I don’t have the money, why am I spending, and if I do have the money, why am I borrowing? It’s completely ridiculous! For those of you who are justifying your credit cards by thinking you can have funds in your offset account for longer, the truth is that although it might save you $100 a year, the annual fee probably costs you more.
My credit card free existence also eliminates that sick feeling of each month of an imminent monster credit card bill. At the end of the day, I think the biggest benefit is that I probably spend less because if I don’t have money in my bank account, I don’t spend it. So join me and #saygoodbyetoFFPanxiety
Why I said goodbye to credit cards
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