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.
Yes. If you have no balance due or outstanding charges.
It will not affect your credit if you pay off the balance when you close the account.
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.).
No, it has to be settled before you can close it.
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.
Yes. If you have no balance due or outstanding charges.
Yes, you can close your checking account even if you have a balance left on your VISA card. However, closing the account will not eliminate your obligation to repay the remaining balance on your credit card. You will still be responsible for making payments on the outstanding debt.
It will not affect your credit if you pay off the balance when you close the account.
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.).
No, it has to be settled before you can close it.
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
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.
They are probably raising it because your credit score is lower due the outstanding debt. This being said, a credit card company can pretty much raise your rate anytime they like just as they can lower it when your credit improves. I would simply close the account and pay it off. Usually when your credit card's rates go up, you have an option of accepting the rate or closing the account and keeping the lower rate on the balance previously accumalated.
Absolutely!!! Your credit score would go down and interest might be charged. Would be more of a lose for you. Its better to close it with a paid balance!
You cannot close it until you settle all your dues to the card issuing bank.
Yes but not significantly, unless it is a large amount, close to the maximum limit.