When I closed the acct it was 900 now its 1100.
2007-01-01 04:30:32 · 7 answers · asked by soso 2 in Business & Finance ➔ Credit
Yes, closing your account doesn't mean that you don't owe the debt. If you don't pay it, fees will most certainly continue to be applied.
2007-01-01 05:46:33 · answer #1 · answered by Jason 3 · 0⤊ 0⤋
If you want to eliminate a credit card before you pay it off, you should cut up the actual credit card. Then, pay the balance off at the rate you can afford (making sure you pay at least the amount required to avoid extra fees), and pay it on time. Once you have paid it off, then call and cancel the account. This way, you won't run the risk of them requiring full payment or raising your interest rate.
If you haven't paid on time, that is why you are probably getting an increase in the amount owed -- because you will be charged late fees.
2007-01-01 04:42:34 · answer #2 · answered by Elayna R 2 · 0⤊ 0⤋
Yes. Once you close an acct and it has a balance the company can request/demand the balance to be paid in full.
If you don't pay the full amount or the minimum they are requesting, you can still be charged late fees and your interest rate will go to the largest percentage allowed in your membership agreement.
2007-01-01 04:37:17 · answer #3 · answered by K A 2 · 0⤊ 0⤋
Yes. Any balance due would still accumulate interest and other fees/charges as outlined in your agreement. Just because you requested the account be closed does not stop this process - if it did, everybody would be doing it. Also, the account cannot actually be closed while there is a balance on it. Pay it off and then close it.
2007-01-01 06:36:48 · answer #4 · answered by ginabgood1 5 · 0⤊ 0⤋
As long as you owe a balance, the sure can. I don't advise people to close an account with a balance. If you close the account with a balance, then you don't leave yourself room for negotiating for lower interest rates. You get stuck with the interest rate that was on there at the time of closing the account. Keep the account open until it is paid off.
2007-01-01 04:40:06 · answer #5 · answered by Suzie 3 · 1⤊ 0⤋
You can't close a credit card account with a balance owing. You have to pay everything off before the charges stop.
2007-01-01 05:59:13 · answer #6 · answered by Gone fishin' 7 · 0⤊ 0⤋
Lol XD just leave it in there, it will probably work better than an actual floppy disk, will store more data, and is much less likely to lose your data.
2016-05-23 03:09:14 · answer #7 · answered by Patricia 3 · 0⤊ 0⤋