0
In Ontario what happens to your credit card balance when you die?
Wiki User
∙ 13y ago
In almost all jurisdictions, any money owed by a deceased person is payable from the assets of that person. Typically, money held in a bank account for that person can be used to pay outstanding bills but funds from other assets such as physical property, houses etc can be used.
If there are no assets (the deceased had no money and no property of value) then the amount owing on a credit card will be written off. In this case, his relatives are not responsible for the debts.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What happens when you over pay on a credit card?
When you over pay a credit card, you have then a "credit balance." This means, in essense, the credit card company owes you money. You can either have them send you a check to pay off the difference, or the credit balance will be eliminated when/if you use your card again.
What happens if you transfer money from your checking account to your credit card?
When you transfer money from your checking account to your credit card, you make a credit card payment. If you do not have a balance owed on your credit card, then you will have credit or a positive balance on your 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.
What is a credit card balance A?
It is the balance on your account, indicating either how much money you owe or if you have some money in the account.
What happens to a joint credit card when one account holder dies?
Both owners of a joint credit card are equally responsible for paying off the balance on the card. When one dies the survivor is responsible for the full balance.
What is the balance on your new credit card?
There is no one balance on a credit card, they are all different.
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.
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.
What does chase balance transfer stand for?
A balance transfer is the transfer of balance in an account or a credit card to another account.It also refers to transfer of outstanding balance from one credit card to another credit card.
What is outstandanding balance in a credit card?
The outstanding balance is very simply the amount of debt that you have charged on the credit card. You owe that amount to the credit card company.
What is balance transfer credit card?
A balance transfer credit card is offered when a business lets you transfer the balance from your old credit card to a new credit card with little to no cost. It's often much cheaper than getting a new credit card from a large or expensive business.
What is the best credit card for balance transfer?
There are many good credit cards for balance transfer. For example, Visa credit card provides a good balance transfer service. American Express credit card does too.
