Should I Close My Credit Card Accounts?

Brian is with us in New York Hello Brian, how are you sir? Ramsey, I do better than I deserve. What's happening? I would like to start by saying thank you very much for taking your time to educate all of us listeners and how to improve our lives. I feel honored. I want to help today. I'm calling you I love you listen I've been listening to you for two days to be honest I cross everything about you through YouTube and I've been listening since you know for the last two days non stop videos Wow and also listening to the live show my wife and I recently paid off your

credit

card

s and from the research we have done and this is my question to you, that we are debt free regarding

credit

card

s and that we are only and only personal.

One thing we are left with is that my wife was left alone, but regarding the credit card, she says the credit cards are paid off. Would it make sense to

close

them or

should

we leave them open and now use them and the main reason I asked is that since The research we did pretty much says that if you were to

close

your line of credit, you will have a negative result, it will show up negatively on your credit report, So, in other words, you will lose your credit score and it will drop to a certain point.

It's true that your credit score will go down to a certain point and when you stop getting into debt completely and don't have any

accounts

open in her name, you won't have any credit score because the only way to get a credit score is to borrow money etc. Your credit score is not a measure of financial success, it is a measure of how often you play kiss-a-bank so you know I don't use a credit score because I don't want to do something that could intentionally harm you. But I'm not going to keep credit cards open to maintain a false measure of financial success, which is what a credit score is.

I'm not going to try to shore that up by keeping these

accounts

open. You are susceptible to fraud. You are likely to start using them again. I would close them all. What I would do. Hey guys, thanks for watching. If you enjoyed this video, click the subscribe button to get the latest content and check out these other great clips from the show. You are not a victim you are not a victim of large corporations you are not a victim of Wall Street you are not a victim of capitalism you are not a victim of wealth inequality you are not a victim of racism you are not a victim