Do I have to put all my credit cards into the program?
When you enroll in the Debt Management Program, we would advise that you only leave one account open for emergency or business purposes. Regardless of whether or not you enroll for debt management or credit counseling, it is often best to use only one credit card.
For one thing, it is easier to keep track of what you owe. In addition, you often get into a lot of trouble using more than one card, because you can so easily rack up more debt than you can pay. This is one reason that so many individuals need credit counseling or debt management today. It is actually a very common issue so do not feel as though you are the exception.
Many times, an individual will use one credit card to pay off another, which can be another way for things to get out of hand. So many people are constantly finding a “better” card, one that will have a lower interest rate, or has a better money back program. The question is, is the money going to control you or are you going to control money? Using just one card, and being aware of the balance and paying it off every month, is a powerful way to take control.
So we generally advise that you keep one account open because we know that many people who seek debt management and credit counseling services find it very inconvenient to live without credit cards, especially when they are getting gas and of course they’re very handy for traveling. It can also be helpful in some situations to have the record that they provide, especially if you have business expenses. Lastly, using just one card is beneficial since it cuts back on all the statements and payments you have to deal with each month.