Manually blocking credit cards?

creditcardnewbie

Hello to you all,

I have been searching the forums and internet but have been unable to find an article on this subject.

I have 6 credit cards with different companies – 4 Barclaycards, a Flybe card and a Bank of Ireland card. I am very keen to get these paid off as soon as possible and am making good progress so far.

However, I was wondering if it is possible to contact my credit card companies and ask them to put a block on my card to prevent any spending on them until the balances are paid? I intend to close the accounts once the balances are paid.

I have contacted the companies to request this but they keep saying if I have an outstanding balance they cannot put a block on it which doesn’t sound right to me - guess they probably want me to spend on them.

Does anyone know how I can approach this or is there a term for what I am trying to do? Maybe I am going about it the wrong way?

Any help would be much appreciated as this measure will definitely help me get my balances down quicker and remove any temptation there may be on my behalf to spend on them.

Many thanks for any advice you can offer,

Creditcardnewbie :beer:

moneysavingmarrow

Cut the things up and you are halfway there.

creditcardnewbie

moneysavingmarrow wrote: »

Cut the things up and you are halfway there.

Hi Moneysaving,

Many thanks for your post.

I do have all the cards cut up at the moment and locked away.

But, I would just like a block put on my cards to quash all temptation including internet shopping etc.

I am doing well at the moment and have held off but I must admit with Christmas coming I have been tempted every now and again to purchase a few items online using the cards but have resisted up to now.

Many thanks again,

Creditcardnewbie :beer:

YorkshireBoy

Some other options...

If you've received (or do receive in the future) notification of interest rate rises then use the 'opt out' service offered in the letter. This will do exactly what you want, ie remove the option to put further spend on a card (and also lock in your balance at the current, pre-rise, rate).

Give your card(s) to a trusted relative for 'safe keeping'. But be prepared for an argument (if you tell them why) should you ask them for one back.

Freeze your cards in a block of ice, and keep them in the bottom of a chest freezer!

Can you shuffle the Barclaycard balances around to get them on fewer (ideally one!) cards? You could then close down one or more of those accounts.

Hughesy84

Usually....

If you phone up and warn them your struggling to pay your payment this month (even if your not) they will usually suspend your spending power on the card.

Problem solved........

creditcardnewbie

YorkshireBoy wrote: »

Some other options...

If you've received (or do receive in the future) notification of interest rate rises then use the 'opt out' service offered in the letter. This will do exactly what you want, ie remove the option to put further spend on a card (and also lock in your balance at the current, pre-rise, rate).

Give your card(s) to a trusted relative for 'safe keeping'. But be prepared for an argument (if you tell them why) should you ask them for one back.

Freeze your cards in a block of ice, and keep them in the bottom of a chest freezer!

Can you shuffle the Barclaycard balances around to get them on fewer (ideally one!) cards? You could then close down one or more of those accounts.

Many thanks for your post Yorkshireboy,

I have availed of the Citibank interest rise letter in the past - this is exactly what I am looking for. I paid the Citibank card off in no time and that account is now long closed. I will definitely take up the offer if it is presented to me by any of these companies.

Giving the cards to a relative might be a good idea - never thought of that one. I would definitely not ask for them back if I did - be too embarrassed I think so that might work.

At the moment I don't have the capacity for shuffling unfortunately - a few months down the line I may be able to but that is another great idea.

You have given me plenty to consider Yorkshireboy - many thanks to you,

creditcardnewbie :beer:

creditcardnewbie

Hughesy84 wrote: »

Usually....

If you phone up and warn them your struggling to pay your payment this month (even if your not) they will usually suspend your spending power on the card.

Problem solved........

Hi Hughesy,

Many thanks for your post.

I should have considered that when I phoned them..:o..excellent idea.

I shall definitely consider that the next time I am talking with them.

Many thanks,

creditcardnewbie :beer:

wrangler5

I am struggling to understand the point in this. You have cut them all up then locked them away? Doesn't that defeat the object a little bit? If you didn't still have them then you wouldn't have any temptation to use them.

What on earth would be the point of cutting up your cards so that you can't use them then keeping them safely locked up in pieces in case you need them? Stop farting about and just throw them in the bin. It's not that difficult.

It's a bit like having your car crushed then keeping the keys in case you need to nip down the shops.

Paulgonnabedebtfree

creditcardnewbie wrote: »

Hi Hughesy,

Many thanks for your post.

I should have considered that when I phoned them..:o..excellent idea.

I shall definitely consider that the next time I am talking with them.

Many thanks,

creditcardnewbie :beer:

I'm not so sure that's a good idea as accounts might be flagged as high risk even if you continue to pay.
If you are certain that you will not want any more credit from these cards, maybe take the next step by throwing away the cut up pieces (separately for security issues). If you want to allow yourself a bit of emergency leeway, maybe ask for your credit limit to be reduced to a level not far above your current balance. I think they have to comply with such a request. In fact, maybe that's the way top do the whole thing. Ask for the limit on all cards to be reduced to a little above current balances (allowing for interest as you wouldn't want to go overlimit). That way, you could force youirself not to spend, and you wouldn't create a situation where you were wrongly classed as a high risk borrower.

Paulgonnabedebtfree

wrangler5 wrote: »

I am struggling to understand the point in this. You have cut them all up then locked them away? Doesn't that defeat the object a little bit? If you didn't still have them then you wouldn't have any temptation to use them.

What on earth would be the point of cutting up your cards so that you can't use them then keeping them safely locked up in pieces in case you need them? Stop farting about and just throw them in the bin. It's not that difficult.

It's a bit like having your car crushed then keeping the keys in case you need to nip down the shops.

But at least you avoid the risk of being clamped

Moggles_2

IMO, YB has made the most sensible suggestions on this thread (#4)

It's in your interest to make your own arrangements, rather than let the lender impose restrictions.

Lowering credit limits is an advantage to the banks, but does nothing for the card holder and may make you appear financially stretched if you overdo it. What's more, if you accidently exceed the limit, you've broken the terms of your agreement, which has more serious consequences than a £12 charge.

If you do decide to throw away your plastic, make sure you record the account number, expiry date etc, as you'll need these details should you decide to close down the accounts.