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You can't close a credit card unless the balance is zero.

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โˆ™ 2009-02-06 19:58:34
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Q: When the credit card company gives you the option of closing your account instead of accepting their interest rate increase and you choose to close do they still charge you interest each month?
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Related questions

The income summary account has debits of 85000 and credits of 75000 before closing. Closing income summary will?

increase retained earnings by 10,000

How do you prorate interest?

how do I prorate interest in a closing statement

You know that bank terms differ from bank to bank But you want to know when is the interest paid on business savings accounts on common banks?

Interest earned on your account is paid to the account on the last business day of the calendar quarter. If the account is closed during a quarter, the interest accrued is paid on the closing date.

Is closing the revenue account the second closing entry?

no. the first step is closing the revenue account. Then comes expenses and then income summary.

All of the closing entries will adjust to update that account?

all of the closing entries will adjust to update the retained earnings account.

What is escrow account?

An escrow account is an account in which the earnest money will be held until closing.

What is closing account?

It means to close you bank account by personal reasons.

Can a company who closes your account try to collect interest three years after closing the account?

Yes, if you still owed a balance at the time the account was closed. Just because a company closes an account does not mean that any balances that are owed to them disappear. If your account was closed and there was still a balance outstanding and you did not pay that balance, the company has every right to collect the balance and any interest outstanding.

What effect does closing the diaphragm have on resolution?


Can they still charge you all late fees and interest if you cancel your credit card?

If there is an outstanding account balance. Closing/canceling the account will not eliminate any fees or penalties that were in the agreement when the account was opened. There might also be an annual charge even though the account has been deactivated.

How do you enter closing stock in tally?

Closing Stock:-Last years Gross profit*Present year sales account+direct and indirect account+purchase account+opening stock-sales account

Can you go to jail for closing an account in Louisiana when you have a payday loan.?

Not jail, but they will send your debt to collections and could take you to court for the amount plus interest and legal fees.

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