Does Freezing Credit Cards Really Help Stop Overspending?

Freezing credit cards is a dramatic anti-credit card spending tactic that some financial advisors ask of their clients. While putting your credit card in a block of ice in your freezer may seem ridiculous and/or not effective because the ice can be thawed, it actually can work to help stop overspending. What can make freezing credit cards help overspending is the action and thought behind it.

For example, if someone really wants to stop using his or her credit card so much and is really trying to avoid or reduce credit card debt, it is a step in the right direction. Going through the motions of placing the card in a bowl of water and freezing it sends a message to the self that the past behavior needs to end. If someone can't seem to go out of the house without using a credit card when they know they really shouldn't be charging any more on it, then freezing credit cards makes a great first step.

The action of freezing credit cards can be a way of a person admitting they have a problem to themself. This can encourage a lot of thinking — about the person's feelings about the cards and wanting to use them even though it is not a good idea financially. It may also lead to the person seeking more help and making decisions to avoid any further credit card debt or overspending.

A plan can then be prepared with repayment amounts and dates before things really get out of hand. In many cases, people overspend on their credit cards right up to the limit and then are in total debt without the card to use in case of financial emergencies. Instead, their credit is likely harmed and they have a huge amount to pay back to the credit card company.

Freezing credit cards before things get to the worst possible stage can really help. The very next step, after thinking about the situation, is to contact the credit card company and let them know when you can pay. You may need to commit to a regular payment plan to get things back on track.