Do i just call me and tell them and keep makin monthly payments on them.
2006-10-23 18:51:39 · 9 answers · asked by whazupboys2004 1 in Business & Finance ➔ Credit
You can close the accounts and keep paying the balance off, but you should consider paying them off completely if you can.
I would recommend calling the service number on your latest statement and finding out what it is costing you to partially pay off the balance. Then you can decide the best way to handle the expense. If you simply do not want to use the card(s) any more, I recommend destroying them. You will still get a statement every month which you can make payments on. When the card(s) is payed off, then you can close the account. If you default on the payments, you will be turned over to a collection service and your credit will most likely be harmed. This may not matter to you right now, but if you decide to get a mortgage or a loan some years from now, it might make you wish you had handled things differently.
2006-10-23 19:07:27 · answer #1 · answered by shapsjo 3 · 32⤊ 3⤋
You need to call each credit card company and specifically ask to close this account. Once the account is closed cut up the credit card. You will still get a monthly statement until the bill is paid off.
2006-10-24 02:01:06 · answer #2 · answered by Anonymous · 3⤊ 2⤋
Call the companies up and tell them you want your account closed. You obviously will still have to make the monthly payments. And make sure if you do this to ask if there are any fees involved.. I know some charge a few dollars a month on closed accounts til the balance is 0
2006-10-24 01:59:36 · answer #3 · answered by Jessica 5 · 3⤊ 3⤋
you can call the creditor and close them and keep paying on them, it is possible the creditor will raise the interest rate since you are dumping them (a new money making tactic by card companies). OR you Can just stop using the cards until you finish paying then the close the account.
2006-10-24 06:30:18 · answer #4 · answered by robug 3 · 7⤊ 0⤋
You can't close a credit card with a balance on them. You can do a balance transfer to a different credit card with perhaps a lower interest and then close them. But credit cards cannot close unless you pay them off or they go to collections. And if they go to collections one way or another they will get their money back, it may be years later when you have a job--they will just debit your pay checks with a much higher interest rate and penalty charges that will make you cry :(
2006-10-24 02:03:55 · answer #5 · answered by I carry your heart with me... 5 · 3⤊ 5⤋
DON'T LET THEM GO TO COLLECTIONS! You will be very sorry (voice of experience) Yes, you call your creditor and let the know you would like to close the account. They will suspend any further transactions, but will continue to send you a monthly bill until your balance is paid in full. Good luck to you.
2006-10-24 01:58:23 · answer #6 · answered by Smilingcheek 4 · 6⤊ 3⤋
I don't think you can close them without paying your debts. pay your liabilities first or better yet, just transfer the balance to your other credit cards. :)
2006-10-24 04:01:33 · answer #7 · answered by sterling 2 · 1⤊ 4⤋
You can't close them without paying them off. If you don't, they'll go to a collections service. You could take out one other card to pay off the current ones, then you'll have just one payment to make, and you can close the rest because they are now paid up.
2006-10-24 01:59:11 · answer #8 · answered by Arnold M 4 · 1⤊ 13⤋
let them go to collections
2006-10-24 01:54:31 · answer #9 · answered by winterblues 3 · 0⤊ 12⤋