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Can you close a credit card account if there's a balance on that account?
Wiki User
∙ 17y ago
You can, but you'll still have to pay the balance monthly until it's paid off. Incidentally, if you're closing an account to help your credit, research shows that closing accounts in good standing can often ding your credit.
Wiki User
∙ 17y ago
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How can you close a credit card account?
pay the balance,if any,and cut that bad boy up -> YOU CAN CLOSE IT WITHOUT PAYING THE BALANCE (CONTINUE TO PAY SO AS NOT TO DAMAGE YOUR CREDIT)...BUT IF IT'S A PROBLEM ACCOUNT YOU ARE BETTER TO BE THE ONE CLOSING THAN HAVING THEM CLOSE IT ON YOU.
If you close open accounts will your credit score go up?
NO! THE OPPOSITE HAPPENS, YOUR CREDIT SCORE WILL LOWER. KEEP YOU ACCOUNTS OPEN EVEN IF YOU HAVE A ZERO BALANCE. NEVER, CLOSE AN ACCOUNT IF YOU CAN AVIOD THIS.
Can you close a credit card account if there's a balance on the account or must you pay the balance in full?
Yes, you can cancel the card even if there is a balance remaining on it. You contact the credit card company and request the card be cancelled. You will no longer be able to use the card, but you still pay the balance, either in monthly payments or in a lump sum. But you do not have to pay the balance in full when you cancel the card.
How do you write a letter to bank manager for close my credit card account credit card balance transfer to my saving account?
To, The Bank Manager HDFC Bank Charmwood Village, Faridabad Sub:- HDFC Credit Card A/C Close & Credit Card Closing Balance Transfer to my HDFC Saveing A/C Respected Sir, It is inform you my HDFC Credit card no 5176521002316488 And my HDFC Saveing A/C No 03961370000033, so please
Does it hurt my credit to close a savings account?
no. You will hurt your credit when you close an open line of credit.
If you close a credit card will it hurt your credit?
It will not affect your credit if you pay off the balance when you close the account.
If you close your account with a balance will this hurt your credit or your credit score?
To successfully close an account, you must first have a zero balance on said account. Otherwise, you will still receive bills on that balance, which can and probably will accrue late charges.
Will credit card company close your account once you pay off your balance?
no
How can you close a credit card account?
pay the balance,if any,and cut that bad boy up -> YOU CAN CLOSE IT WITHOUT PAYING THE BALANCE (CONTINUE TO PAY SO AS NOT TO DAMAGE YOUR CREDIT)...BUT IF IT'S A PROBLEM ACCOUNT YOU ARE BETTER TO BE THE ONE CLOSING THAN HAVING THEM CLOSE IT ON YOU.
Can credit card companies close your account and continue to charge interest on the balance?
Sure can, a dirty deal.
Can you close your checking account if you have a balance left on your VISA card?
Yes, you can close your checking account even if you have a balance left on your VISA card. However, closing the account will not eliminate your obligation to repay the remaining balance on your credit card. You will still be responsible for making payments on the outstanding debt.
How can you close your American General Finance account -?
Contact your local branch of AGFS. If the account was an installment loan, the account will "close out" at time of payoff. If the account is a revol line of credit, and has a zero balance, a written authorization can close the account or after 6mos of no activity the account will automatically close.
Can a creditor close a revolving line of credit account without notice when the account has been in good standing?
Yes. If you have no balance due or outstanding charges.
If you close open accounts will your credit score go up?
NO! THE OPPOSITE HAPPENS, YOUR CREDIT SCORE WILL LOWER. KEEP YOU ACCOUNTS OPEN EVEN IF YOU HAVE A ZERO BALANCE. NEVER, CLOSE AN ACCOUNT IF YOU CAN AVIOD THIS.
Can you close a credit card account if there's a balance on the account or must you pay the balance in full?
Yes, you can cancel the card even if there is a balance remaining on it. You contact the credit card company and request the card be cancelled. You will no longer be able to use the card, but you still pay the balance, either in monthly payments or in a lump sum. But you do not have to pay the balance in full when you cancel the card.
If you close a credit card does the APR go to zero?
No, the applicable interest and fees will still be charged until the balance of the account is paid.
How do you write a letter to bank manager for close my credit card account credit card balance transfer to my saving account?
To, The Bank Manager HDFC Bank Charmwood Village, Faridabad Sub:- HDFC Credit Card A/C Close & Credit Card Closing Balance Transfer to my HDFC Saveing A/C Respected Sir, It is inform you my HDFC Credit card no 5176521002316488 And my HDFC Saveing A/C No 03961370000033, so please
