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Can credit card companies close your account and continue to charge interest on the balance?
Wiki User
∙ 14y ago
Sure can, a dirty deal.
Wiki User
∙ 14y ago
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Can interest still accrue on a garnished credit card?
You bet it can ... The CC companies will continue to add interest at the specified rate until the balance is paid off in full.
What amount of money in a checking or a savings account upon which interest is based?
The amount of money in a checking or a savings account is the balance. The interest is usually based on the balance.
When the interest paid on a savings account is added to the balance so the interest earns interest this is known as?
Compound interest
What are some credit card companies with low interest balance transfers?
There are a great deal of credit card companies that offer low interest balance transfers. These companies include Citi, BankAmerica, Discover, and Capital One.
Can a company who closes your account try to collect interest three years after closing the account?
Yes, if you still owed a balance at the time the account was closed. Just because a company closes an account does not mean that any balances that are owed to them disappear. If your account was closed and there was still a balance outstanding and you did not pay that balance, the company has every right to collect the balance and any interest outstanding.
Does interest continue to accrue on the interest balance after the principle is paid?
Interest on any account is paid before anything is paid on the balance. That's how credit card companies, well any lender makes a profit.
Can interest still accrue on a garnished credit card?
You bet it can ... The CC companies will continue to add interest at the specified rate until the balance is paid off in full.
Which type of checking account pays interest on the mean balance of the account during a particular cycle?
Average Balance account
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
Can a credit card company close your account charge it off and still continue to add late fees and interest to the account?
they can if it contains a balance. if they charged it off and gave you a zero balance and a pay off letter then they cannot. If they closed the account and reduced the amount you owe you are still responsible for the payments including late fees and interest.
What amount of money in a checking or a savings account upon which interest is based?
The amount of money in a checking or a savings account is the balance. The interest is usually based on the balance.
When the interest paid on a savings account is added to the balance so the interest earns interest this is known as?
Compound interest
To find out your balance on a savings account at a bank which measurements must be accurate?
The number of times interest is calculated for your account Total in your account Interest rate
Taylor wrote a check for 18 on the same day his bank paid interest to his account If his account balance changed 13 that day how much interest did he earn?
Taylor wrote a check for $18 on the same day his bank paid interest to his account. If his account balance changed $13 that day, how much interest did he earn.
What is a type of checking account that also earns interest these accounts generally have a minimum balance?
A type of checking account that also earns interest is called an interest-bearing checking account. These accounts typically require a minimum balance to be maintained in order to earn interest.
If i deposited 235.00 in 1974 in a savings account what would be my balance?
The amount in your balance would depend on the interest rate of your savings account.
What are some credit card companies with low interest balance transfers?
There are a great deal of credit card companies that offer low interest balance transfers. These companies include Citi, BankAmerica, Discover, and Capital One.
