I have a credit card already and only has a bit left to pay off and i want another one..actually it was the one i wanted in the first place but they denied me. Now they say i can have it..but i already have one so i just want to get that one and not use it til i pay the other one off..lol..if that makes any sense...anyways if i dont use it do i still have a monthly payment?
2007-03-02 05:03:36 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
You only owe a payment when there is a balance on the account.
2007-03-02 05:08:10 · answer #1 · answered by Rob D 5 · 1⤊ 1⤋
Your best to pay off the other one first. Before you activate the new one, be aware if there is any yearly fees that come with the card. If there is a yearly fee, I'd personally toss it. I would never pay extra just to use their card (the interest rate would have to be less than six percent, for it to be worthwhile). Plus, with today's airmiles club, it's just not worth it, there are too many restrictions and with seat sales happening all the time, it's usually the cheaper way to go.
If there is no yearly fee, you can activate the other one but you shouldn't use it, until the other one is paid off (unless you want two payments).
The best cards hands down is Capital One (interest is as low as 9.9%) or Citibank (higher interest rate though with the 1% cash back, it's great if you don't carry a balance). They do not charge any membership fees .
2007-03-02 13:23:35 · answer #2 · answered by trojan 5 · 0⤊ 0⤋
There are some credit cards, generally ones given to people with poor credit, that charge a monthly maintenance fee. This is chaged if you have or do not have a balance. If you check the disclosures statement it will tell you any fees associated with the card.
If you are not charged a maintenence fee or an annual fee then once the credit card is paid off you will not have to pay anything.
2007-03-02 13:23:53 · answer #3 · answered by OC1999 7 · 0⤊ 0⤋
Most credit cards do not require any payment if you do not use it. Some have annual fees, but usually only if tied to special programs (like earning air miles). If there is an annual fee associated with the card and you don't get any benefits, dump it.
You'd need to check the fine print on the card application. (Turn it over, get out the magnifying glass).
2007-03-02 13:09:16 · answer #4 · answered by CrossFade5 1 · 0⤊ 0⤋
usually, there is no monthly fee unless otherwise indicated. Some do have annual fee. Check with the credit card company regarding that matter.
2007-03-02 14:38:45 · answer #5 · answered by Jon 5 · 0⤊ 0⤋
no you don't but would do is tell them that you don't want there service because they may contuine to send you more cards and then it can get missed placed and something with your credit could get messed up and any personal information or credit cards that are not being used need to be shredded and burn so know one and steal your idenity because it happend to me
2007-03-02 13:22:11 · answer #6 · answered by mercedes d 2 · 0⤊ 0⤋
No only if you bought something on it pay off your other one and get it Good luck
2007-03-02 13:19:41 · answer #7 · answered by pattibcacl 6 · 0⤊ 0⤋
from what have heard, no
2007-03-02 13:11:39 · answer #8 · answered by Howdy17 2 · 0⤊ 0⤋