Cut up Your Credit Cards & Win $1,000!

Today’s wacky contest is not only awesome, but it could land you an extra thousand bucks!

Lending Club & Perkstreet Financial have teamed up to hold the first ever “Shred Your Credit Card” Contest. Entering is pretty simple – you have to create a video of yourself destroying one of your credit cards and submit it by January 28th, 2011.

I’ve watched a few of the videos already submitted and some are better than others. One guy put his credit card in a blender, while another entrant taped herself feeding the credit card to her dog. My favorite video thus far is the entrant who recreates the scene out of the movie “Office Space” by beating his credit card to a pulp on the front lawn.

Once you have posted a video, you will need to ask your friends and families to vote for your video on the website. You can vote yourself once everyday and so can your family members.

The contest is giving away $50 to the video that receives the most votes each week. The $1,000 prize will go to the video that receives the most votes before the contest ends on January 31st. The sponsors are also giving out (2) $300 Visa gift cards to the judges’ favorite entries.

The contest is meant to be a nod to financial discipline, but I’m already spending the $1,000 in my head. Oops.

By the way Penny Hoarders…I might be missing something, but it looks like only 10 videos have been submitted thus far and the contest is more than half over. If that’s true, then you’ve got a great chance of winning some money. Who here couldn’t use an extra thousand dollars?

Good Luck Penny Hoarders!

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