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2015-07-15 18:35:13
2015-07-15 18:35:13

If there is an outstanding account balance. Closing/canceling the account will not eliminate any fees or penalties that were in the agreement when the account was opened. There might also be an annual charge even though the account has been deactivated.

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No, they already gave you the credit when they charge you for the month. You can use your credit, and then cancel. You will still have access to all of your books, even after you cancel.


Yes they can. They charge you from the time they last charged you interest until its paid off.




If you have a garishee against your salary can the creditor still charge interest. Thanks Theo


No... It will simply have a zero balance owing. The card will still be active - until you cancel it yourself.


One may always cancel their credit card, however, if one has a balance outstanding, one is STILL RESPONSIBLE FOR PAYING. From a credit reporting standpoint, it is never good to cancel a credit card because the number of open accounts is reduced and the relative credit usage is reduced (both resulting, generally, in a reduction of credit score).


Credit card interest and fees are determined at the state level at present. Congress has passed a law which makes bait and switch tactics more difficult but legal interest ceilings are still a state matter.


The "Discover It" credit card from Discover doesn't charge any fees like annual fee, overlimit fee or foreign transaction fee. However, they still charge 3% fee for each balance transferred.


Sometimes you can still finance a car from a dealer with poor credit but with a higher interest rate. There are also independent car lots that will finance a car for you. The only drawbacks from an independent car lot is they usually charge more interest and down payment.


This applies to any credit card. You can do one of two things. 1) To CLOSE an account, you may still have a balance that you need to keep paying on but you can no longer charge on it. The advantage is that you prevent yourself from spending more. The disadvantage is that you can no longer negotiate lowering the interest rate if the account is no longer open. If you have a balance, it is to your best interest the stop spending, negotiate a lower rate, and pay it off as quickly as possible. 2) To CANCEL your card, you can not have a balance on it. The best thing to do is call the company to cancel, and then follow it up with a written request. Also ask them for a cancellation confirmation. Option 3, if you are trying to get rid of your debt, is to transfer your Kohl's balance to a Visa or Mastercard with a lower rate. Then cancel the Kohl card and DO NOT charge anything else on the MC or Visa. Just pay it down and close that when it is paid off.


Because high interest is a bonus for the credit card business.


Call your credit card company and inquire. If you can not get through, cancel the card.



No, it should not continue to accrue interest.


If there is A ballance still owed on it then the interest is still being billed to the ballance, If you have not closed the card account,,,,,,,,,,,,,,,,,,,,,,,,,,,,DO NOT CLOSE IT UNTILL ITS PAID IN FULL. That is terrible for credit score.


yes. if its you who is paying, you may cancel at any time. if it is him, you can still cancel it if you have his credit card information. If it is him paying, i would let him keep paying forever and save you some money,


Charge card and credit card offers you a facility to spend a certain amount and at the end of the month you can pay a specific minimum amount and revolve your credit for the next month by paying some interest on the remaining amount that is still to be paid and remains out standing. Charge card offers you a facility that the amount spent will be directly debited from your account and you can not revolve the credit. Charge card is a facility provider which is given to their costomer to make their payment behalf of the costumer


High utilization will not help you when it comes to getting good interest rate.


Collection agencies can only charge interest if you agreed to it in your original contract. If they actually bought the debt they shouldn't be able to charge any additional interest on it since you did not sign a contract with them allowing them to do so. Please keep in mind that not all collection agencies buy debt. Some are still collecting on behalf of the original creditor which means interest and fees could continue to accrue.


Yes, a "charge off" does not indicate that the debt is no longer valid. The creditor has several options on how to collect monies owed after the account has been charged off.


Yes you can. Submit a written request to the bank and they will do the needful. They might charge a fee though...



If your card has a zero balance - you (obviously) won't pay any interest. However - the card company may still charge a fee for keeping your account active.


If you have good credit, there's not going to be much difference between a typical mortgage interest rate. If you have bad credit, you can still get rates comparable to what a non-VA good credit borrower would get.



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