I am trying to get debt free and i want to close some of my credit cards that have balances on them, (i dont use these cards for anything), will i have to bring the balance to zero before i close it?
2007-03-13 08:58:27 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
No, you don't! Here's the really great part: call the company, tell them you're trying to get out of debt, hinting that "you can't hold on much longer" the way you're going. I've had 3 of the 4 companies I just did this with reduce my interest rate from 18% down to 8%; the 1 company actually reduced my total debt with them from $5,ooo to $3,000. Bottom line - they really do want to get paid. Use this to YOUR advantage....best of luck!!
2007-03-13 09:13:46 · answer #1 · answered by tracymoo 6 · 0⤊ 0⤋
No you do not. Just notify the credit card companies that you want to close the accounts and they will keep billing you as usual.
2007-03-13 16:04:54 · answer #2 · answered by ? 7 · 0⤊ 0⤋
when you have a credit card and you are trying to be debt free then yo need to make sure you pay off all of your debt that is owed on the card, yes you have to pay it off before you close it.
2007-03-13 16:07:48 · answer #3 · answered by barbaralacy1 1 · 0⤊ 1⤋
You have to leave them zero balance, then you can close the account.
2007-03-13 16:36:13 · answer #4 · answered by shorty21 5 · 0⤊ 1⤋
no, you just won't be able to use it
2007-03-13 16:06:08 · answer #5 · answered by momof3 5 · 0⤊ 0⤋