Report: Some Americans cut Credit Card use

canceling cards damages your credit score because it reduces your debt/available credit ratio (drastically, if you have several cards) and can shorten your credit history. Now that it’s the internet age, if you’re at the point of freezing your cards in a block of ice, you should also clear your browser’s “private data,” particularly your “saved forms” and maybe your cache, to get rid of the account numbers in your browser’s memory. (I think that’s what you mean by “had the account numbers stored in their computer,” David- tell me if I’m wrong- because it’s pretty dumb to write those down in a file on your computer.)

Americans carry approximately $961.8 billion in revolving debt, according to the Federal Reserve Board. Delinquency rates on credit cards are at the highest levels since the end of 2002.

Even as consumers cut back on using credit cards, they're finding it harder to pay down their balances, says Javelin President James Van Dyke.

"In some cases they're out of work or perhaps their wages have been cut back, or maybe they had a variable rate which they have to pay more for than ever before," Van Dyke said. When people use their credit cards less, "this changes what goes on in the industry because credit card companies typically make a lot of their money on the fees they charge merchants."

The reduction in revenue from new purchases, combined with concerns about new delinquencies, pose big worries for the credit card industry, Van Dyke says.

I like to tie my credit cards arount the neck of the pit bull next door. That way, when I want to buy something, I have to fight him for it.
So I have to really need something before I go get it.
As an added bonus, if I do get it back, my hand is so mangled, I have to go the ER. Talk about a cooling off period!