When Is Freezing Your Credit Card Account A Good Idea_ mastercard debit gift card

When Is Freezing Your Credit Card Account A Good Idea_ mastercard debit gift card

Has it ever happened to you? You pull out your wallet to make a payment, and your credit card is gone. It’s a heart-chilling experience. Almost in a flash your mind is filled with images of some faceless delinquent enjoying a shopping spree. Or worse yet, using your card to finance a truckload of illicit drugs.

Your first reaction usually involves panicking, followed by a mad fumble through stacks of papers in search of that helpline number. When you finally find the number, you call and ask your card issuer to freeze your card account.

After a bit of a fight, the person on the phone agrees to freeze your account for 7 days. With a major sigh of relief, you slowly descend from your frantic state, glad that the danger no longer exists.

Only when you hop in your car to pick up dinner, you realise that your card was sitting in the glove compartment all this time.Mastercard debit gift card

You quickly dig up that number again and call customer service. This time you are told that you cannot unblock your account until the 7 day freeze period is up. Now what?

None of us want to run the risk of a fraudster using our credit card, but at the same time freezing your account is often a real hassle.

But freezing your account is the only way to go if you want to put your account on hold without closing the account.

Many banks are willing to close your account and issue a new card with a new account number.

That is a secure choice, but you will have to update your card info on every repeat payment, online store checkout and app you use. Nobody wants to do that unless they absolutely have to.

No matter which credit card you have, you should be able to contact your credit card company and ask them to temporarily freeze your account.Mastercard debit gift card you will have to provide a good reason (e.G. My card was stolen).

The real pain is that, as brought out in the above scenario, you usually have to give them exact start and end dates for the freeze. Most banks won’t let you access your account until the freeze period is up.

If you suspect that your card was stolen, you may panic and request that your account to be frozen for a week to prevent fraudulent transactions. If you find your missing card in your coat pocket the next day, you will have to wait another 6 days before you can use your card account.

In some cases ongoing payments will not happen while your account is frozen, which could lead to unpaid bills and a damaged credit history. Not practical.

Freeze it ® from discover lets you freeze and unfreeze your account in seconds with the mobile app or online.Mastercard debit gift card freezing your account prevents anyone from making new purchases, cash advances or balance transfers.

While your account is frozen, certain important transactions like merchant-indicated recurring bill payments, returns, credits, account fees and interest payments will go on as normal.

That means you can freeze your account immediately whenever you want and unfreeze it immediately anytime. No hassles, no need to have a good reason and no waiting.

We can only hope other card companies follow discover’s innovative lead and offer similar on/off switches for their credit cards. Until then you can already enjoy total control over your money by using a discover credit card.