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This is one of my debt-free measure taken.
The credit cards ownership has both it's advantages and disadvantages. It all depends on whether what I wanted the credit cards for. I have had at least 5 to 6 credit cards in my possessions about 5 years ago. I thought that having a considerable number of gold and platinum cards is a sign of prestige and status. How wrong can I be?

Credit cards are good only if I am a good manager of my personal finance. Two years ago, I cancelled most of my credit cards leaving only an essenstial mastercard with a reputable bank. The reason is the more cards I have, the more I am likely to spend compulsively. After leaving with just one card, I find that my finances were now easier to manage. In fact, I learn the discipline of not using my credit card unless I have cash deposited in my bank. Another way is that I make sure that every card transaction has the same amount already kept in my bank account. In this way, when my card statement arrives each month, my eyeballs will not roll neither do my heart stopped beating for a few seconds! Another way is that I mostly use my card for company expenses. These bills will eventually be claimed from my employers.

The answer to debt-free is to have only the credit card neccessary and not as a sign of status. I am a now better person financially with less cards and using it only when it is neccessary.

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