Does cancel really mean cancel when your credit card expires?( knowing its a bad idea to cancel c.c!)?

Question

what should one do when a credit card expires. does it automatically get renewd

Answer 1

A credit card can be cancelled even before it expiry date. In general, a credit card upon expires will get renew. The credit card company will send the bill including the annual fee reflected. You have to call them to cancel the card.

Answer 2

You need to call the company and officially end the account. Although the card in your hand has expired, the account is still open which can affect credit scores as readily as canceling and opening too many accounts. Don't play the multiple card game, have say 2 cards, perhaps a visa/mastercard and a discover. Use the discover for normal purchases and take the 1% (free money if you only buy what you need like groceries and gas). Pay off all accounts monthly and you will be in good shape.

Answer 3

in protecting with who estimates your score. One criteria is to ascertain all of your approved credit and that incorporates charge playing cards. the only with extra receives a larger score. inspite of the indisputable fact that it doesn't propose that your score is going to get damage. you're going to get a pair factors below the guy who nevertheless have the 4 playing cards. yet you will get a favorable score without credit in any respect. in the journey that your credit tale is reliable (continually paid), you do not have any loans no longer conceivable to pay such as your income, and so on, and so on. do not get loopy about rankings. each and every monetary company has its own stupid rules. I had an integrated account once with a monetary company with an outstanding score and couldn't get a small personal loan for the most stupid reason. The monetary company re-evaluated my credit, my score went intense and they re-evaluated my credit allowance. They spread all of it between my bank account and my 2 charge playing cards. when I requested for the non-public loan they stated that i could not get it because each and every of the credit I had allowed replaced into used. I advised them that it replaced into ridiculous through the indisputable fact that credit replaced into too a lot, I wasn't even using 5% of that. in truth I by no ability use credit from my charge playing cards or the bank account, the charges are too intense. As you will see that, often times too reliable is basically too reliable. I moved to a distinct monetary company the position they were better than satisfied to get all my company such because the non-public loan.

Answer 4

Unless they actually tell you your account is closed, your account is not closed. Your ACCOUNT never expires. The piece of plastic in your wallet expires. If you have not received a new card before the old one expires, contact the issuer ASAP. Someone may has stolen the replacement from the mail.