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You MUST make the minimum payments or the company will come after you. If you just make the minimum payments you will eventually clear the debt but the rate of interest on credit cards is very high.
If you are having trouble financially the first thing to do is to stop using a credit card (cut it up) then if you can not afford the minimum payments go and seek help from a third party (in the UK a free advice centre) - they will help you with your debt problems and will be able to get the interest on your card debt stopped - (you will still have to make small payments to pay off the debt but if you meet these the debt will no longer grow). Also some debts are more 'important' than others - your taxes, mortgage, rent etc. A credit card is an unsecured debt and you will not be sent to prison for it or thrown out of your home. Get Help!!
What else can I help you with?
What is the total amount of monthly credit card payments?
The total amount of monthly credit card payments is the sum of all the payments made towards credit card bills in a month.
If you pay just a portion of the credit card bill what will happen?
The credit card will add interest on your unpaid balance which will increase your total credit card debt. If the company cashes your check, nothing will happen. Except what is mentioned above. They often accept partial payments. If they don't take partial payments they will return your check & demand a full payment Different companies have different rules. You should contact them to find out exactly. They probably WON'T take a partial payment without charging you interest.
Do credit card companies report cash payments?
No, credit card companies do not typically report cash payments.
Do you accept credit card payments for small businesses?
Yes, we accept credit card payments for small businesses.
What happens to my credit card if I close my bank account?
If you close your bank account, your credit card account will typically remain open and unaffected. However, you will still be responsible for making payments on your credit card balance as usual.
What is the total amount of monthly credit card payments?
The total amount of monthly credit card payments is the sum of all the payments made towards credit card bills in a month.
If you pay just a portion of the credit card bill what will happen?
The credit card will add interest on your unpaid balance which will increase your total credit card debt. If the company cashes your check, nothing will happen. Except what is mentioned above. They often accept partial payments. If they don't take partial payments they will return your check & demand a full payment Different companies have different rules. You should contact them to find out exactly. They probably WON'T take a partial payment without charging you interest.
Do credit card companies report cash payments?
No, credit card companies do not typically report cash payments.
Do you accept credit card payments for small businesses?
Yes, we accept credit card payments for small businesses.
What happens to my credit card if I close my bank account?
If you close your bank account, your credit card account will typically remain open and unaffected. However, you will still be responsible for making payments on your credit card balance as usual.
Do credit card companies report cash payments to the IRS?
No, credit card companies do not report cash payments to the IRS.
Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
How can you be in credit on a credit card?
You can be in credit on a credit card by making payments that exceed the amount you have spent, resulting in a positive balance on your card.
What is the maximum limit for cash payments using a credit card?
The maximum limit for cash payments using a credit card is typically set by the credit card issuer and can vary depending on the card's terms and conditions. It is important to check with your credit card company to know the specific limit for cash payments.
Do credit card companies report cash payments to credit bureaus?
No, credit card companies do not typically report cash payments to credit bureaus. Only credit card transactions and payment history are typically reported to credit bureaus.
Will changing my credit card number stop auto-payments?
Yes, changing your credit card number will likely stop auto-payments, as the auto-payment system typically requires the correct credit card information to process payments.
Can you pay state tax with a credit card?
Most states will accept credit card payments.
