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Who is responsible for paying the unpaid balance on your grandmother's credit cards after her death?
Wiki User
∙ 19y ago
The decedent's will (if any) assets and debts are filed in probate court pursuant to state laws. Nonexempt assets are used to pay outstanding debts. Surviving family members are not responsible for the decedents debts unless they were a joint account holder. An exception would be if there is a surviving spouse and the couple resided in a community property state.
Wiki User
∙ 19y ago
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If a relative dies and you were paying their credit card debt for them and you are an authorized user of that card are you then responsible for paying off that card debt balance?
No.
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 reflects better on your credit report a zero balance on your credit card or buying something once a month and paying it off?
Buying something and paying it off. It shows the creditor that you are responsible and not a credit risk. Be aware though, you will be flooded with competing credit card company offers.
Does paying off high balance credit card help your credit?
Yes. Amounts owed accounts for about 30% of your credit score. Ideally your utilization rate should be 20% or less. Paying your credit card balance to 20% or less will improve your credit score.
Can paying your credit card balance early hurt your credit score?
It shouldn't ! Paying off your balance early shows you're in good control of your finances - and can budget your bills based on your disposable income !
After paying off a credit card balance how much does your credit score go up?
it will go up by 10 to 50 points depending on the amount owned and cancelled. You can further improve it by continuing to use the credit card, and paying the balance in time.
If you pay off your credit card balance monthly will this help your credit and are you paying no interest?
Paying off you credit card balance helps you, yourself the most. but according the the fico score they like to see a small balance, for some reason its not good to pay off a card totaly, I have never understood this.
My husband passed away and had a credit card in his name only. Is the surviiving spouse responsible for paying off the balance?
Only if the couple resided in a community property state at the time of death.
What are some advantages of a 0 balance transfer?
When you have a balance on your credit card, you are paying interest. If you can find a credit card with a lower interest rate and a 0% balance transfer, you will be saving money.
How can paying down your credit cards lower your credit score?
Paying down your credit cards won't lower your scores-- but paying off and closing the credit cards will lower the scores. You want to show that your cards are not maxed out and you have plenty of room between the credit limit and the balance .
What would constitute a responsible use of credit?
A responsible use of credit is paying off your credit cards each month. Another example of using credit responsibly is using it when you need it only.
What are the bad habits of a credit card?
Paying late Going over the credit limit Keeping your balance high
