How Does a Block on a Credit Card Work?

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A block on a credit card is used to keep vendors from charging credit cards for services that have been previously rendered. Manage a credit card efficiently by using credit card blocks with advice from a registered financial consultant in this free video on credit cards.

Part of the Video Series: Money Management
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Video Transcript

This is financial adviser, Patrick Munro talking about how does a block on a credit card work? Many times consumers will get involved in credit card transactions that are used in an ongoing basis in other words on a monthly draft basis and sometimes they will cease business relationships with vendors and so on. However, those vendors will continue to charge the credit card for previous rendered services. That is problematic for the consumer and so the only way to make sure that that does not happen is if the consumer would call the credit card company and identify the vendor who is involved and then put a block on the credit card so that the system is set up when the vendor goes to credit the credit card it will not take because the system has been alerted that it is not possible for them to charge that credit card. A little bit of administration it is known as a block and it is a good way to keep and manage your credit card in the most efficient way. This is Patrick Munro talking about how does a credit card work?


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