Would You Ever Shred Your Credit Card?

Would you? If you would, and you are willing to video yourself doing it, you could possibly win $1,000 from the fine folks at Lending Club and PerkStreet. They are teaming up to present Shred Your Credit Card, a video submission contest where the most popular video of someone shredding their credit card will win $1,000. See all the details and ways you can win at www.ShredYourCreditCard.com.

In case you are wondering, I think cutting up the cards could be the right move for some people. It doesn't close your account (which could negatively affect your credit score, so you wouldn't want to do that). But it does remove the possibility of spending with the physical card. The point of this exercise is obviously beyond these technicalities though. It's about creating drastic change in your financial life. Cutting up your cards could be the trick you need to help you eliminate your credit card debt. Some people choose this route, and if you want to go this direction, then services like PerkStreet and LendingClub could be great resources for you on that journey out of debt.

Shred Your Credit CardEnough rambling. Enter the contest (December 15, 2010 through January 29, 2011), cite me as the place where you heard about it, and you become eligible to win a $25 gift card from me. Word to the wise: video contests like this usually struggle to get going initially. So your odds of winning are much greater if you start asap. So go take a quick video of yourself cutting up a credit card, overlay some heavy metal music (or whatever music you feel like), and submit it to this contest.

Join 38,500 subscribers improving their financial life.

Subscribe for free. Get my book (31 Days to Improve Your Financial Life), intro series, and article digest.

Powered by ConvertKit
Last Edited: July 26, 2017 @ 6:16 pmThe content of ptmoney.com is for general information purposes only and does not constitute professional advice. Visitors to ptmoney.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.
About Philip Taylor

Philip Taylor, aka "PT", is a CPA, financial writer, podcaster, FinCon Founder, husband, and father of three. He created PT Money back in 2007 to share his thoughts on money and to meet others passionate about managing their finances. All the content on this blog is original, and created or edited by PT. Read more about Philip Taylor, and be sure to connect with him on Twitter, Facebook, or Google+. Listen to the new podcast, Masters of Money!


  1. Shred it, burn it, cut it, or smash it. Anyway you can, get rid of temptation and debt!

  2. Briana Ford says:

    This could be a dangerous lust but I love credit cards, which probably is the case for lots of people with credit card debt. Not necessarily what they represent but the physical appearance of them. I couldn’t bring myself to shredding them because of the huge “what-if” factor, but I would gladly remove them from my wallet into a box or something at home.

  3. For some people, that might be the only way to control “addictive” spending habits. They’ll probably find other ways, but not as easily and likely not with as much debt. I like the idea of keeping the account even if you cut up the plastic – a good point about credit score.