Has anyone heard the advice that you should take the credit cards out of your wallet and instead of cutting them up, put them in the freezer and freeze them? I've heard of this trick and in theory, I think it's a great idea. I just can't get myself to do it!I start to imagine all of the possible bad things that could happen and how I wouldn't have a credit card handy to help me get out of mess. Realistically, I know the chances of anything majorly wrong happening are pretty slim, but I just can't seem to get the courage up to do it.
As I write that down, I realize how silly it sounds. Honestly, what's the worst that could happen? I could be far from home and stranded on the side of the road, needing help. Well, I have AAA and they could tow me home. At least, I have AAA until March anyway. Then I believe my car came with some plan to help you if you're stranded. If so, that gets rid of that worry.
Anything else I may encounter is probably something minor that I could handle and I shouldn't be using my card for anyway, right?
Question : Have you frozen any of your credit cards? Did you have to unfreeze them for any reason or were you able to keep them frozen? Do you think this is a useful trick to keep the temptation to use your cards at bay?
I haven't frozen them but they are all chopped up. having an emergency fund helps a lot.
ReplyDeleteI think it helps to think through the emergencies that might happen and what you would do in that situation. If you've got some cash saved you should be OK.
I've done the frozen thing, cut them up and stashed them away. Nothing really helped. That is why I went to a Spenders Anonymous for help.
ReplyDeleteI freeze mine, it works great. I stick it in a leftovers container, fill it with water, and throw it in the freezer. It sits there for months at a time untouched. If I end up travelling somewhere (say, 3+ hours away) and need it, I thaw it in some warm water before I leave. You'd be surprised how few actual emergencies you'll find yourself in where you NEED the card on you.
ReplyDeleteI have never done this but I have left my credit card in my jewelry box and I quit carrying it in my wallet. I have also put my credit card in my safety deposit box at the bank which makes it accessible, but not practical to get to right away.
ReplyDeleteBut there isn't any harm to freezing your credit card - seems like you have emergencies covered and if you are tempted to use it, I would give it a try. The worse that could happen is that you have to thaw it out.
No, haven't ever frozen them. I have two, one of which I never use, I guess it's just security. The other one I use for everything in order to earn points - however I pay it off every single time I use it. I've NEVER had an emergency that I had to use a credit card for so I say FREEZE THEM!
ReplyDeleteI have tried freezing mine before, but it did not work because I could just thaw them out when needed. Most recently, I gave my cards to my boyfriend and had him hide them somewhere in the house. If I truly need them, I have to explain to him the need and he has to agree that it's legit. This makes me accountable to someone else, and I do not forsee me ever asking for them, because it would be too embarrassing (the credit card debt is all mine and not his). Anyway, you can think about that strategy too!
ReplyDeleteThanks for the suggestions! An emergency fund would definitely help keep my mind at ease. That one is a slow work in progress for us. I also like the idea of having my husband hide them from me :) I'm going to suggest freezing or hiding them when I get home tonight!
ReplyDeleteI haven't frozen my credit cards. It's a good suggestion for those who can't kick the credit card habit by other means. Safe deposit boxes are also good, as Martha suggested. My recommendation is to build up a small emergency fund while you're getting out of debt. Minimum $500. More if you want to. That way you won't have to use credit to handle the problematic unexpected expenses.
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