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

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Q: Can you close your credit card account and continue to make payments?
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Can a credit card continue to allow automatic charges on your account after you ask to have the account closed?

Not if you ask them to close it in writing and you have NO balance.


Can credit card companies close your account and continue to charge interest on the balance?

Sure can, a dirty deal.


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.


Does your credit score go down if you close a credit card account but do not have any credit card balances?

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


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.


When an item goes off your credit report does your credit score increase?

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.


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.


Will it help your credit to close a credit card that shows late payments from four years ago even if you are in good standing now?

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.


Can a bank close your account after bankruptcy if you never bounced checks and have no line of credit with them?

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.


What will happen if you close a credit card that has an outstanding balance?

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.


Does interest still accrue on your balance once you have closed a credit card account?

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.