CASH PRIZE CONTEST: Repurpose your plastic!

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OK folks, here it goes. Our first ever Pennywise Family CASH contest. The winner gets a $100 gift certificate to either SmartyPig.com (online high-yield savings accounts) or Kiva.org (microfinance investments). Winner’s choice.

Use this blog post about someone who made credit-card bracelets and show me how you’re repurposing your old credit cards now that you’re on the path to debt freedom.

I put mine through the shredder and I’m holding on to the shreds in a little plastic baggie waiting for inspiration. I decided to turn the inspiration over to the readership: Show me how you’re recycling your credit cards with one photo.

Email your photo to me by the June 15th 2009 (revised from end of May 2009) and I’ll set up a vote between a few of my favorites, and let readers decide who wins.

All entries will be posted here so please be careful not to show your identifying info on your cards. You can edit it out with photoshop or obscure your info if you’d like.

Email your entries to jessc098@gmail.com with the subject line “I’m recycling my credit cards to get out of debt!”

CLARIFICATIONS AND Q&A RE THE CONTEST:

P.S. I revised the contest end date to June 15th to give you all more time to wean off the plastic and cut ‘em up for good. No entries had been recieved at the time of this change.

Q: for those who don’t use credit, but want the cash anyhow–can we participate?

A:Sure, use the fake credit cards that come in the mail. I’ll bet your neighbors/relatives would be happy to donate their junk mail to your cause.

Q: What do you mean ‘obscure identifying information”?

A: Hey, if you want your project personalized and want to keep your name on it, that’s great, but I WILL NOT accept or post any art project that shows too much of the personally identifying info. Obscure numbers or make sure they’re not in order or some are missing or mix multiple cards, or just edit the photo with photoshop, I don’t care. Also, you can submit a low resolution photo. I’m not about to help anyone steal your identity!

Q: Do I have to cancel my cards to participate?
A: No, but what’s holding you back? :-)

Q: Can I follow the contest on Twitter?
A: Yep, search hashtag “#Cutup100

  • Rory Gallagher

    Wow, this is a totally cool way to get people thinking about restructuring their mentality about debt. As an advocate for debt free living I believe that it is important to share any and all knowledge about getting out of debt to those who may not be able to pay for help, I know, I have been there. I love helping people get free from the rat race and I really like what you are doing. I really appreciate what you are doing here and keep up the good work!

  • Tom

    Good luck with the contest! Hopefully your BusinessWeek article will bring some visibility to it!

  • JessicaW

    Just heard on Dave Ramsey’s show about a guy who’s now using his credit card to clean his aquarium. I think this is a great idea, and my goldfish Lazarous wouldn’t mind me cleaning out his tank with my gold card at all.

  • Brian

    Read your “open letter” on Business Week’s website. Congratulations! And it was wonderfully written and inspiring. Hopefully many, many people read it and are inspired as well. Keep up the good work! –Brian Woodland, Oklahoma City, OK

  • JessicaW

    Thanks Brian for visiting us here at Pennywise Family! I hope you enjoy the site.
    Jessica

  • Anonymous

    I have found that if you pay your min credit card balance every month the best thing would be to divide it into weekly payments and send that in it makes the balance go down since they are compounding it more frequently onto your account. i payed off mine using this method in 3 months the balance was not that high 1500 or so but you will see a difference quickly

  • JessicaW

    Anon: Great tip! I do this too, by making three copies of my statement each time I recieve it. I send a payment each week–the same way, it really does help!