The Pros and Cons of Canceling Credit Cards

How does canceling card affect your credit card score? Adam Baker canceled all his cards and wrote about it. His credit score dopped only 10 points but he thought it may dropped more.  His credit was already about 700 so I think results would be different if a person’s score is initially under 700 before canceling the credit cards.

Living without financial burden of credit cards sounds great in theory, but it may be an obstacle later when purchasing a home, car or getting a loan.

Win A Free Pass To The Fifth Annual Small Business Summit In New York City


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It’s that time again! Time for the 5th annual Small Business Summit which will take place on March 16, 2010 in New York City. How would you like to attend this event?

Even better yet, how would you like to attend this event for FREE?

The good news is that we have a total of 10 complimentary admission tickets up for grabs. We will randomly choose 10 lucky winners who will each receive 1 (one) free pass worth up to $149.

All you have to do is visit the Small Business Trends giveaway page and enter.

Entry submissions will be taken up until Midnight, PST (Los Angeles time) Sunday, February 28, 2010. The 10 winners will be chosen in a random drawing and subsequently contacted via email.

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SXSW Interactive Panel: The Broke Diaries is March 12

SXSW logo banner for 2010
The panel that I am moderating for SXSW, The Broke Diaries: Blogging and Twittering About Living on the Cheap is March 12 at 2PM. If you will be at SXSW, please come to the panel. I will be joined by a panel of “thrift experts” which are Larry Chiang (Duck9), Hayes Davis (CheapTweet), Emily Farris (KCFreePress) and Faye Penn (Brokelyn)


Meet Hayes and Jenn from CheapTweet during SXSW.