Changing credit card number

flergalwit

Hi,

I'm soon going to be at (or nearly at) my credit card limit of £6,700. But I don't have to pay any interest on it for almost another year (1 July 2013 I think) so it's in my interest not to pay it off now.

The only thing I am a little worried about is accidentally making a payment with it and thus going over my limit. Or an automatic purchase being made. I think my only automatic purchases are mobile credit, skype, oyster but it's possible I could have overlooked one...

It seems to me therefore that changing my credit card number would be a good thing to prevent me making any further online purchases by accident. Questions are:

(1) Would it solve the problem? (I think so: if I accidentally tried to make a payment with my old number, it would just be refused and would not impact me negatively.... right?)

(2) Are there any adverse effects of changing number? Could it lead to the cancellation of my promotional 0% period? (I don't think so but....)

(3) What would be the best way to change number? I don't want to lie and say it's lost or stolen when it isn't. I could deliberately damage the card, but it may get awkward if they ask how it got damaged (also is it possible they'll send me a new card with the same number?) Will they change the number if I ask them to, without explanation (or with an honest explanation, as above)?

Alternatively: is there some other way of preventing any further purchases with my card, without changing the number?

Thanks!

fearlessdukuman

Just tell them you have misplaced it and they will replace it with a different number.

If you still have the card they will just replace the card with an identical one.

chattychappy

No. Changing the number won't necessary stop automated payments going through. There is a system to automatically link them to a new number.

I can understand the worry about CPAs (continuous payment authorities). Do you have all your statements somewhere? Can you go through them to take a look?

You are entitled to cancel CPAs with your CC, not just the merchant. (Though they don't like this, and their call centre staff might tell you its not possible.) If you find a CPA that you no longer want, you could then cancel it. OR at a push you could write to your CC and tell them that you wish to cancel all CPAs (except any that you mention in the letter). I doubt whether it would work - but if one did go through it might give you grounds to argue later under the Payment Services Regs (or whatever it is).

Bear in mind that if there is an underlying contractual obligation to pay, then you could still be chased for the money directly by the merchant if the CPA is cancelled.

Failing that, could you just pay of a chunk so you are not sailing so close to the wind?

OR ask for the credit limit to be raised?

chanz4

it wont stop CPA's though

Bravehearted_2

Im sorry but this is silly.

Your normal bills like mobile phone, transport i.e oyster etc should not be left on a credit card for a year just because it is 0 %.

UNLESS you are saving the cost of those things now?

Those are the things you pay from your salary monthly. Fine to put it on a credit card but should be paid with that month's budgeted salary.

I dont think you should leave a years worth of phone bills, transpory bills unpaid except you are saving that money to get some interest.

zfr

Reporting your card as damaged is simple... they will not really question you as to how it happened.

However, as already mentioned, it will not stop CPAs.

Depending on the issuer, your replacement card may also have the same card number (but with a different security number).

I would strongly advise leaving 10% of your credit limit (or whatever you consider sufficient) to act as a buffer zone.

If you utilise 100% of your limit, you leave no room for error... since you are worried about automatic payments or accidental spending, it does not seem very wise.

Furthermore, from what I have read on this forum, using the maximum credit limit is not good for your credit history.

redpete

zfr wrote: »

Furthermore, from what I have read on this forum, using the maximum credit limit is not good for your credit history.

Each monthly minimum payment will reduce the balance further below the maximum - so this shouldn't be too much of a problem.

flergalwit

Thanks for the info. chattychappy's suggestion of paying some off looks like the best bet then. I was leaving a buffer of £50-60 anyway, but more is probably needed to be safe.

I suppose another worry I had is that one of my vendors might be delaying charging my card for something or other. I don't think so, but it's hard to check as I can't remember every single purchase I have ever made with the card.

Bravehearted, aside from the buffer, why would I pay them off before July 2013 if it's a 0% card till then? I am putting part of my salary into a regular saver account, whose maturity is just before the end of my card's 0% period.