Credit card questions, having credit cards vs cutting up your credit cards.  My thought of the day....lol 
Actually I'm sorry to go against the grain, but having credit cards isn't the issue, having them to their max is the issue.  

Credit score, rated by Equifax and Transunion, rate you on exposure but mainly ability to repay.  If you have a $5000 limit and you owe $4999, VERY BAD.  

But if you owe $400, fantastic. This builds your credit score and shows banks when your trying to obtain a loan or mortgage that you've been exposed to higher limits without abusing the credit.  

Cutting up credit cards is not the answer, but using them for $100-$200 purchases every few months keeps credit rating strong.  

Having no credit is the worst thing you can do, especially using pre-paid which doesn't help your credit rating.  

Use them but put them away in a safe spot or safety deposit box if you have temptations. 

FREE TIPS From your friendly neighbourhood Mortgage Broker.