How do you cancel credit cards for someone who's had a stroke?
AnswerYou may be able to obtain 'Power of Attorney' if the cardholder is incapacitated. If this is not the case, the cardholder will have to contact the creditors to have the account closed. If there is a balance on the account, it is best to keep the account open until the balance is paid in full.
I had a very hard time canceling my mothers credit card after she had a debilitating stroke. She is 91. I was told I needed to send a POA, which I did. The first time they gave me a wrong address so I had to send the POA twice. Then they told me that a POA does not have authority to cancel an account. I was livid. After having been put through having to send the POA twice. They also told me that they needed to either have a signature or talk to the account holder, neither of which was possible. They then went as far as to say they needed a fingerprint.
Understand here that this is an account that never had a balance, was paid in full monthly and has not had a charge or balance in 9 months. I asked to talk to a supervisor who basically told me the same thing. I asked what if it was your mother. Her response was I gave you the choices.
I am not one to give up so I waited until the evening and called again knowing I would get someone else. I again explained who I was and that I had sent a power of attorney, that the card had no balance etc. To my great surprise the woman on the other end said I can cancel that for you and in about 30 seconds it was canceled.
The moral of this story is CALL CALL CALL at different times. You will always get different people. The bottom line is a POA, although a legal document, does not have to be honored. No organization is obligated to honor it. Most do, but you will always run into snags. It is not easy being a POA or executor but if you hold your ground and be persistent you will often succeed. Sometimes it is the stupidest things, like closing a meaningless credit card account that is not in use, that get you. You can transfer hundreds of thousands of dollars around but you can't close a no balance unused credit card account.
Once you are enrolled in a debt counseling program, using your credit cards is no longer an option. Credit cards are an easy way to mount up your debt situation. One of the principles in debt counseling is not incurring new debts. You cannot use your credit cards when you are undergoing debt counseling. You will also need to cancel your credit card insurance.
Is it true you can improve your credit score dramatically by having someone with good credit add your name as a cosigner to one of their credit cards even if you never use it?
The majority of all credit cards are made and accepted on a scale across the globe. All individual or corporate (business) credit cards generally come from the same providers of credit cards. With that respect, any business can acquire their set of business credit cards via a credit card provider by following the respective credit card provider's requirements and steps.
Is it bad for your credit to have too many credit cards even if they are paid off in full every month?
yes, it is bad to have to many credit cards because it shows that you are able to spend this at any time you should keep 2 cards with the longest good credit history and cancel the rest. also to improve your credit history more spend $100 dollars and make monthly min. payments to show that you can pay off something and your credit score will really improve.
If you have no forms of credit, then it can hurt your credit rating. Your rating is determined on your use of credit facilities - if you do not have any forms of credit then your record will drop. That said, it's unusual not to have some kind of repayment obligation such as a mortgage or car loan, all of which show a track record of credit and repayment. Having too many credit cards can…
Subsidiary credit cards are viable credit cards issued under the direction of a major credit card company. For example, the American Express Company issues several different types of credit cards. They have cards that give you cash back, cards that give you points to purchase other items, and cards that earn airline travel miles. Each one of these types of cards are subsidiary credit cards.
You can compare credit cards to fit your needs by using creditcards.com. You can enter in your credit score, your history, and many other options that will help them match you to a card that will fit your needs. You might also find that the best credit cards are those for stores or through your own bank.
It will depend if you need the store credit card. Some people start building their credit score with the use of store credit cards. If you think you still have a use for it, then keep it and pay the total balance each month on time. However, use it only when necessary because usually store credit cards have higher interests.
Yes you can. Everyone starts off at some point without a credit history, and there are options available for people who would like to get a credit card without any history of having one. They can start to build their credit history by applying for a secured credit card or applying for a joint credit card with someone who has an established credit history. The third option available to someone who has no credit history…