Do you have to transfer your balance before cancelling the credit card?

Question

I got a credit card with a lower APR so I want to switch it over. However, I want to try and talk the other credit card company into lowering theirs so I don't have to cancel. So is it possible to cancel a credit card before transferring funds?

Answer 1

You mean the first credit card company? Lots of them are open to lowering your rate in order to keep your business.

You can cancel a card with a balance. You just have to pay it off.