Credit and Debit Cards
Credit Reports
Credit

Can you close your credit card account and continue to make payments?

121314

Top Answer
User Avatar
Wiki User
Answered
2005-10-30 18:53:13
2005-10-30 18:53:13

No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments

001
๐Ÿ˜‚
0
๐ŸŽƒ
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar

Related Questions




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.


No. The only thing that has any negative effect on your score is missed payments, insufficient payments, over limit fees, late fees etc.


Yes; however, the issuer is not required to continue to extent you credit (can close the account).


no. You will hurt your credit when you close an open line of credit.


It will not affect your credit if you pay off the balance when you close the account.


When a derogatory item is removed from your credit report, them yes, your score increases. If you have a credit account with no derogatory items (late payments) and you close it, then your score is likely to decrease.


No, the banks can not close your saving and checkings account. If you have credit card debts then yes they can close your credit cards.


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.


Closing an account may help your overall FICO score, but only because your available debt would decrease. The late payments stay on your record regardless if the account is open or closed.


You can close a credit card account at any time, regardles of whether there's a balance left on the account. If it's not past due, you simply make regular monthly payments. If it's delinquent and the creditor hasn't already closed the account for you, you'll probably also make monthly payments on the balance. In some cases of severely delinquent accounts, you can agree to pay one final lump sum, usually less than the total amount owed. However, this will appear unfavorably on your credit reports, as will "account closed by credit grantor". Regardless, it's probably a good idea to close the account, particularly if it's delinquent.


When sending a close a credit card account, you need to include your name, address and account number. You also need to include reason for closing the account.


Be careful when you close a credit card account. It could drop your credit score considerably. The way to avoid late payments and over limit is to stop using the card and make payments on time. If you want to learn more about credit scores and how to improve yours: Take a look at Phil Turner's Credit Bible. You should find valuable information on credit cards and improving your credit.


Yes, just like any other loan. Late charges, too, if you don't make the payments on time. If you close an credit card account with the bill remaining, do you still have to pay for it.


Contact the credit company and tell them you want to close the account and tell them to send you a final bill.


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.


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.




You can simply write to the credit card company and close your account. Then you can cut up your credit card.


After 180 days of non payment they will close and charge off the account and most likely farm it out to a collection agency


There is no reason to believe that Amazon keeps your credit card info after you close your account. If it concerns you, you can actually delete your saved payment information before you close your account. Or, you can delete your payment information and keep your account open in case you want to use it in the future.


Checking accounts are not normally reflected on a credit report.


You should not close a credit card if you are still paying on it. It will bring your credit score down. Close it when you are done paying. I know this because my mom owns her own credit repair/management business and she tells me what to do with my credit cards.



Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.