Putting Your Credit Card on Ice
There are many ways to avoid using your credit card. One that you may have heard of is to freeze your card in a block of ice. Understanding the value of this method will allow you to apply it without the mess of actually freezing your card.
What do people who freeze their credit cards hope to accomplish? They are trying to make something easy, using a credit card, more difficult. By placing a barrier between the desire to use the card and the ability to use it, they have to consider a purchase more carefully. They’ll be forced to ask themselves: “Is this really worth the hassle of thawing the card”?
On some levels, I think people also know that the humiliation of being found desperately thawing the card in the kitchen sink late at night would help them to refrain from using it.
Despite the apparent ease of using credit cards, they are actually very difficult for some people to use. When you look at the total process of using credit cards, including the interest and fees that you incur and the difficulties they add to your financial lives, you realize that credit cards aren’t as easy to use as they first appear. The block of ice presents a less abstract difficulty of using the card. Through its use, we remind ourselves of the difficulties that we know exist with credit cards, even if we can’t see them as easily.
For a mess-free way to apply the block of ice method, consider storing your credit card in a safe deposit box or with a family member that you trust. The hassle of going to the bank, or asking for the card, presents the same hurdles the block of ice intends to present. While you’re taking positive steps to combat your use of credit cards, the time may also be right for consolidating your debt at a better rate through a P2P loan from Lending Club. Reducing your debt should also reduce the need to consider freezing your card in the first place. Having better control of your finances may be all the motivation you need to stay in control.
If you’re considering such drastic action as freezing your credit card, then you may have a serious credit card problem. More importantly, though, you have recognized this problem and understand that action must be taken. Congratulations on the latter point. Many people never get there. Whether you apply the principles of the block of ice method, or the method itself, you’ll be reducing the control that credit cards have over your life.
Saturday, January 5th, 2008 at 6:36 am