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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.
What else can I help you with?
What happens if you get a refund on a credit card with no balance?
If you receive a refund on a credit card with no balance, the refund amount will typically be credited to your account as a negative balance. This means you will have a credit on your account that can be used towards future purchases or you can request a refund of the credit balance from the credit card issuer.
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 if you revolve your balance on a credit card?
If you revolve your balance on a credit card, you will be charged interest on the remaining balance that you carry over from month to month. This can lead to accumulating debt and paying more money in the long run.
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 happens when you get a refund on a credit card with a zero balance?
When you receive a refund on a credit card with a zero balance, the refund amount will typically be added as a credit to your account. This credit can be used towards future purchases or you may request a check for the refunded amount.
What happens if you return something you bought with a credit card?
When you return something you bought with a credit card, the amount you paid for the item is typically refunded back to your credit card account. This can help reduce your credit card balance or provide you with a credit for future purchases.
What is the balance on your new credit card?
There is no one balance on a credit card, they are all different.
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.
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.
