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Would You Shred Your Credit Card for $1,000?

My friends over at are participating in a contest to giveaway $1,000 to the winner of the Shred Your Credit Card contest.

You can always use the cash to dig your way out of debt. That would be the really conventional approach. My suggestion is to use $333 to pay off debt and use $333 to put into that emergency fund you should have. And what about the last $333, well hell, go have some fun with it. It’s OK to have a bit of fun. Do something crazy, treat yourself, give it away or just enjoy life for an afternoon.

Entires are due in by January 28, 2011 and the winners will be announced on January 31, 2011.

Big props to Perkstreet Financial and for not only giving away a lone $1,000 but also an additional $1,000 in additional cash prizes.

So do something crazy with those credit cards you aren’t using and just shoot some video of you shredding those cards. Then visit to enter.

How to Participate in the Shred Your Credit Card Competition.

  • Cancel a credit card. (Make sure you disguise your credit card number in your video, just to be safe.)
  • Film yourself talking about why you’re done dabbling with debt this year, or record the most creative way you can think of to destroy your card.
  • Submit your video to
  • Vote for yourself EVERY DAY and encourage others to do the same on Facebook and Twitter, or via email.
  • Check every Wednesday through the end of January to see if you’ve won a weekly prize.
  • Visit on Shred Your Credit Card Day (Jan. 31) to see if you’ve won the GRAND PRIZE ($1,000) or any of the Second Place prizes ($300 each).

I’ll Vote for Reader Submissions and Giveaway An Additional $100

If you are a reader of, participate in this contest by submitting a video, and let me know how to find it on the site by posting that information in the comments below by January 28, 2010, I’ll vote for it as well.

And if you meet all that criteria and you are picked as the winner I’ll give the winner an extra $100 to help you get out of debt.

If you are in the debt destruction moment and you’d like to nuke the rest of your expensive debt by consolidating it, go to LendingClub and apply for an unsecured debt consolidation loan. With free cash and a low interest rate unsecured debt consolidation loan you can dig your way out of debt super fast in 2011.

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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