Originally Posted by
Nevjets
Dave Ramsey would frown at the advice you gave: refinance debt and not cancel your credit cards.
Dave Ramsey is not right about everything. Credit cards have many advantages over cash or debit, if you have the discipline to not carry a balance.
I pay every bill and purchase I can with a no-fee credit card and use the reward points for airline tickets and over $1,000 a year in lowes gift cards which gives me $50 for $40 worth of points. Just don't carry a balance. Pay it off every month.
Further-disciplined use of a credit card helps build a good credit rating which these days afffects more than credit, ranging from insurance, qualifying for a mortgage, to employment opportunities.