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Generally, no, unless you cancel the transaction after the fact.

If you have made a payment to the credit card company and cancel after the time the transaction was made, yes, the credit card company may take money out of your checking/savings account.

If you made some mistake when using your credit card which resulted in a fee or finance charge, the credit card company may put that amount on your credit card bill but may not take the amount out of your checking/savings account unless you specifically ask them to.

If you have automatic payments set up, the credit card company may honor those instructions until you send them a WRITTEN request to change the setup. Most card companies allow you to bypass the written component and change automatic payments online.

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โˆ™ 2010-10-18 22:19:11
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Credit and Debit Cards

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Credit and Debit Cards

21 cards

The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

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Q: Can a credit card company take money out of your account without an electronic signature and without your approval even if you cancel the transaction?
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