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No, it has to be settled before you can close it.
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∙ 18y ago
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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.
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.
What happens when you close a credit card with a balance?
You cannot close it until you settle all your dues to the card issuing bank.
Can I close a credit card with a 250 balance after three years?
As a cardholder, you are entitled to close your account for any reason at any time, however, if there is a balance outstanding, you are still responsible for paying that balance. I never recommend that someone cancels a credit card unless they are absolutely out of control when using that card. Closing a credit card, especially if you have made on-time payments throughout the life of that card, will negatively impact your credit record (one less credit card, lower total line available, higher line utilization, etc.).
Can you transfer a spouse's credit balance to credit card?
Yes, you can transfer any balance you want to your credit card. Note if you transfer the balance to your credit card, you are now liable for the full debt and not him unless he is an authorized user on the credit card.
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.
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.
What happens when you close a credit card with a balance?
You cannot close it until you settle all your dues to the card issuing bank.
How long does a credit card company keep open a delinquent account?
So long as there's a balance on the account - the file will remain open.
Will credit card company close your account once you pay off your balance?
no
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.
What does it mean to transfer credit card balance?
To transfer a credit card balance means to use the available credit on one credit card to pay off the balance of another credit card. This is often done by credit card holders to pay back a balance at a lower rate.
Can I close a credit card with a 250 balance after three years?
As a cardholder, you are entitled to close your account for any reason at any time, however, if there is a balance outstanding, you are still responsible for paying that balance. I never recommend that someone cancels a credit card unless they are absolutely out of control when using that card. Closing a credit card, especially if you have made on-time payments throughout the life of that card, will negatively impact your credit record (one less credit card, lower total line available, higher line utilization, etc.).
What is the balance on your new credit card?
There is no one balance on a credit card, they are all different.
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
Can you transfer a spouse's credit balance to credit card?
Yes, you can transfer any balance you want to your credit card. Note if you transfer the balance to your credit card, you are now liable for the full debt and not him unless he is an authorized user on the credit card.
Does carrying a balance on a credit card effect a credit score?
Yes but not significantly, unless it is a large amount, close to the maximum limit.
