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2009-11-24 18:56:17
2009-11-24 18:56:17

No, if you close your credit card, a merchant will not be able to charge the account. When the merchant attempts to get an authorization, it will come back declined.

Now, if a merchant received an authorization before the card account was closed, the authorization will be honored.

A merchant may attempt to force a credit card transaction without an authorization, but the credit card company will not pay it.


http://paymenttransactionsystems.com
http://merchantpos.net

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While it is more difficult to obtain a Merchant Account with a bankruptcy on your credit it is still possible. I was able to get a merchant Account through Orbitalpay (http://www.orbitalpay.com) with less than perfect credit as they are "in house" and are more leniant with approvals than most banks.



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.


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.


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.



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.


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




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


It doesn't need to be anything fancy. Just keep it simple. "Dear Creditor: I will no longer be using your credit card. Please close my account and report the account to the creditor bureaus as being closed at my request."


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.


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.


My position would be to close the account but honor the payment as ordered and let the account pay out.


They can try, but its illegal. Always keep written proof of your request to close your account, then they have no loegal grounds. A written statement of account closure they have to close your account by law



debit revenuecredit income statement


If there is A ballance still owed on it then the interest is still being billed to the ballance, If you have not closed the card account,,,,,,,,,,,,,,,,,,,,,,,,,,,,DO NOT CLOSE IT UNTILL ITS PAID IN FULL. That is terrible for credit score.


Get StartedCredit card companies periodically change the terms of your account. The changes generally take place automatically unless you do something to stop them. The "Letter to Cancel a Credit Card because of Poor Terms" allows you to notify your credit card company that you are unsatisfied with the new terms and directs the company to cancel your account. Some credit card companies will negotiate the terms. This is most likely to occur over an annual fee charge. Many credit card companies will waive the fee rather than lose your account. You may also want to cancel your account or attempt to negotiate over other changes in the terms of your account, such as an increase in the interest rate or a change in your credit limit.Be sure to check your credit card agreement for the credit card company's rights after you close the account. By law, the company can not charge an annual fee if you notify them of your intent to close your account within the time specified in the notice. If you attempt to use the card after the cancellation date, however, most credit card companies provide that such use constitutes acceptance of the new terms. If you intend to cancel the card, be sure not to later attempt to use it. If you have an outstanding balance at the time that you cancel the credit card, the credit card company may be able to charge you a different rate if it is specified in your agreement or in the notice of changed terms.


Closing an account will temporarily reflect negatively on the person's credit report. However, leaving an account open may result in being charged user fees,etc. Some ccc's waive fees if the card is used within a specified time. it might be a better choice to charge small purchases and pay the balance at the end of the month. The decision really depends on the terms of the account and the status of the account holder's credit history.



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