Welcome to Mommysavers Forums.
Go Back  

Money Matters Personal finance, managing debt, saving and investing

Register FAQ Members List Calendar Search Today's Posts Mark Forums Read Gallery iTrader

Reply
 
Thread Tools Display Modes

Old 05-02-2007, 10:58 AM   #1
Scratch Chin Does cutting up the credit cards REALLY work?
Kim
Ms. Mommysavers
 
Kim's Avatar
 
Last Online: Today 03:24 PM
Join Date: Jul 2006
Location: Southern Minnesota
Real Name: Kim
Posts: 9,031
iTrader: (4)
OK. Say you have a problem abusing your credit cards. Does putting them on ice or cutting them up really work? Or is it just a band-aid to cover a larger wound?
__________________
"Try and enjoy the here and now. The future will take care of itself somehow. The grass is never greener over there." -- Howard Jones

Visit my Forget the Joneses blog - new entries added recently
Check out the Mommysavers Group on Facebook
My frugal tips are on YouTube
I've been posting frugal tips in the Mommysavers Photo Gallery
Kim is offline   Reply With Quote
Old 05-02-2007, 11:04 AM   #2
Default
2bearsmom
Here to Entertain you Mod
 
2bearsmom's Avatar
 
Last Online: Today 02:58 PM
Join Date: Jul 2006
Location: Where the Wild Things Are
Posts: 11,060
iTrader: (3)
If you have the discipline, sure it works...but that is the key...having discipline and let's face it...if you had that much discipline to begin with, you wouldn't need to cut up or freeze the cards would you?

So in the end, if that is the route you have to resort to, then no I don't think it would work...I think if you're going to cut them or freeze them, then you probably have the numbers written down somewhere else to pull out for use...you know "Just incase".
__________________
Does Money Matter?

2bearsmom is offline   Reply With Quote
Old 05-02-2007, 11:08 AM   #3
Default
Alex's mommy
Mommysavers Goddess
 
Alex's mommy's Avatar
 
Last Online: Today 11:53 AM
Join Date: Jul 2006
Location: Fremont, CA
Real Name: Sandy
Posts: 2,064
iTrader: (0)
Well I dont have this problem and only use 1 major credit card very seldom.

If you do have a problem, then sure cutting them up would help - because youd be unable to use them. But thats just a temporary solution...until the next credit card comes in the mail.
__________________
www.myspace.com/sassy143


Alex & the spider monkey
Alex's mommy is offline   Reply With Quote
Old 05-02-2007, 11:16 AM   #4
Default
Missystuy
Shopping/Auction Mod
 
Missystuy's Avatar
 
Last Online: Today 04:09 PM
Join Date: Jul 2006
Location: Connecticut
Posts: 6,324
iTrader: (1)
YES I agree, If you have the drive, the willpower to STOP using your cards, it works. Just removing the temptation of them being too readily available helps. Just telling yourself you don't want to use them, won't work. If you are truely addicted, you will seek them out of thier hiding places and use them. I think by cutting them up, you remove yourself from harm's way. If you are keeping them, 'just for emergencies', don't bother. If you REALLY need another card after you cut itup, you can call the bank and get a new one. By this point the emergency might have passed and you might not even need it anymore.
__________________
~Missy~Mommy
Meghan7.Samantha6,Cameron4
Back together!! Sept 28th Boston TDCenter!! Woohooooo!
Missystuy is online now   Reply With Quote
Old 05-02-2007, 11:16 AM   #5
Default
Midwest Mom
Senior Mommysavers Member
 
Midwest Mom's Avatar
 
Last Online: 07-22-2008 04:10 PM
Join Date: Jan 2007
Location: Nebraska
Posts: 217
iTrader: (0)
It may work for some, but I think if you have a problem charging, you will probably still be tempted to charge online without the actual card. I think the only way to really solve the charging problem is to cancel all but one and have the credit line lowered so you can't get out of control. JMO.
Midwest Mom is offline   Reply With Quote
Old 05-02-2007, 11:20 AM   #6
Default
momof2boys
Coupon& Entertainment Mod
 
momof2boys's Avatar
 
Last Online: Today 04:06 PM
Join Date: Jul 2006
Location: Ohio near the Great Lake
Posts: 9,197
iTrader: (2)
Quote:
Originally Posted by Midwest Mom
It may work for some, but I think if you have a problem charging, you will probably still be tempted to charge online without the actual card. I think the only way to really solve the charging problem is to cancel all but one and have the credit line lowered so you can't get out of control. JMO.
That about sums it up! Well said.
momof2boys is online now   Reply With Quote
Old 05-02-2007, 11:20 AM   #7
Default
KathrynHannah
Money & Simple Living Mod
 
KathrynHannah's Avatar
 
Join Date: Dec 2006
Posts: 3,996
iTrader: (1)
The ice thing doesn't work .. the microwave works way too well for that.

Putting them in a safety deposit box works or passing them on to a trusted friend or relative to keep in a safe spot can work too. You can still get access to it if you need it but it's much harder to get to.

I think you are on to something with the band-aid though. People get into credit card debt for many reasons, some of the really legitimate, basic food and medical to name two. But sometimes credit card debt stems from an emotional hurt where shopping / spending is used to dull the pain. In that case hiding the credit card will only delay the problem until it's dealt with at a deeper level.
__________________
KathrynHannah is offline   Reply With Quote
Old 05-03-2007, 09:23 PM   #8
Default
austing
Mommysavers Diva
 
Last Online: 04-19-2008 04:45 PM
Join Date: Jul 2006
Location: Utah
Posts: 825
iTrader: (0)
I got a bunch of credit cards when I turned 18. I charged a bunch of clothes and stuff. Then I met dh and had some debt. We consolidated it and cut up all the cards. So after being married a year I started working at Target. I needed a red shirt and khakis for work. We were living very tight at the moment. I called up one of the companies that I had a cc card with and got the # over the phone and was able to go in and charge new clothes for work. That wasn't the best thing to do, but I felt I had no other option.

You should cut up all the cards and cancel all the accounts. Because when you think you are in a desperate situation, the cards are only a phone call away to get a new one mailed to you.
__________________
Austin
Mom to 3 beautiful girls
austing is offline   Reply With Quote
Old 05-04-2007, 12:01 PM   #9
Default
Sarah_Mom2BrodyNMason
Mommysavers Diva
 
Sarah_Mom2BrodyNMason's Avatar
 
Last Online: 06-22-2008 11:09 PM
Join Date: Jul 2006
Location: Minnesota
Posts: 596
iTrader: (0)
Quote:
Originally Posted by austing
You should cut up all the cards and cancel all the accounts. Because when you think you are in a desperate situation, the cards are only a phone call away to get a new one mailed to you.

The hard this with this is everything I've been reading about improving and maintaining your credit suggest not to cancel accounts or it will drop your score especially ones with a long history. That's where I would used the ice thing, only cause then I wouldn't lose them. I think if you are cutting them up for an addiction you would have to weigh what the extra debt would do to you credit as opposed to cutting up the cards. I would just put them in a safty deposit box or personally give them to my mom and tell her I will only need it in emergencies cause when I went to get it they would hound me about it lol so I never would.
__________________
Mommy To Brody(3 years) Mason(20 months) Orin (3 Months)

"It's easy to pass judgement, it's more difficult and more meaningful to love someone" Big Love


"Cholesterol won't stick if you have the right attitude"
Sarah_Mom2BrodyNMason is offline   Reply With Quote
Old 05-04-2007, 09:22 PM   #10
Default
JeannetteDavis
Mommysavers Addict
 
JeannetteDavis's Avatar
 
Join Date: Jul 2006
Posts: 6,000
iTrader: (0)
I had my numbers memorized, so cutting them or freezing them or giving them to a family member wouldn't have helped me at all. The only thing that helped was paying them off, cutting them up, and closing the accounts. I know that people say you shouldn't cancel them, but it actually helped my score go up because I didn't have all those possible accounts open to charge up again. My credit score has gone up 50 points in a year and a half from doing exactly as I listed above.

I have no willpower with my credit cards, so I haven't had one in a year and a half. Now we deal only with what we have in our bank accounts, so I HAVE to be careful with how I spend our money. It has been tough, but it is the best, most liberating thing I think I've ever done...financially speaking.
__________________


Parker, Wyndser, and Carson....................Wyndser (in blue) with her cousin
JeannetteDavis is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Members
 

Sponsors

 


Advertisement

All times are GMT -5. The time now is 04:09 PM.


Powered by vBulletin® Version 3.6.7
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.0.0