You cannot close it until you settle all your dues to the card issuing bank.
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.
It will not affect your credit if you pay off the balance when you close the account.
No, it has to be settled before you can close it.
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.
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.
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.
It will not affect your credit if you pay off the balance when you close the account.
No, it has to be settled before you can close it.
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.
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.
no
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.
Yes, you can cancel the card even if there is a balance remaining on it. You contact the credit card company and request the card be cancelled. You will no longer be able to use the card, but you still pay the balance, either in monthly payments or in a lump sum. But you do not have to pay the balance in full when you cancel the card.
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.
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.).
It is the balance on your account, indicating either how much money you owe or if you have some money in the account.
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.