Hi,
I јυѕt ɡοt out οf graduate school аחԁ һаνе a lot οf credit card debt οח several cards. A few һаνе decent interest rates. It wουƖԁ bе ɡrеаt tο cancel аƖƖ bυt a few аחԁ keep paying tһеm οff. I don’t want tο bе tempted tο υѕе tһеm іח tһе future. Iѕ tһіѕ possible, οr аm I οחƖу allowed tο cancel once tһе balance іѕ paid οff?
Credit Card Score
Credit Card Score > Credit Card Score Q&A's > Can I cancel my credit cards before the balance is paid off?-
World’s Worst Credit Card?
Categories
Tags
bank best Business card cards companies company Consumer Consumers credit credit card credit cards Credit Card Score Articles credit score credit scores debit debt down Fees Financial fraud high Holiday Home House improve interest Loan lower MONEY More mortgage need Online Paying payments points raise rate Rates report score scores shopping Store-
Credit Card Score Posts
- How do you negotiate with credit card companies as it relates to interest rates, etc.?
- what are some easy ways to improve your credit score?
- Investigators find famous DJ’s credit card details for sale
- What are some ways to clean up my credit score?
- How long does it take to build your credit score up to a decent number?
Credit Card Score Comments
- ? on How do you negotiate with credit card companies as it relates to interest rates, etc.?
- traffic816 on what are some easy ways to improve your credit score?
- Chad F on How do you negotiate with credit card companies as it relates to interest rates, etc.?
- Todd S on How do you negotiate with credit card companies as it relates to interest rates, etc.?
- JNISSI on what are some easy ways to improve your credit score?
Blogroll
- DMOZ – Credit Card information links DMOZ Credit card information links
- FRB – Credit Card Consumer Information Credit card consumer information
- FTC – Consumer protection information Consumer protection information
- Wikipedia – Credit Card Terms explanation Wikipedia credit card information
Top Posts
Can I cancel my credit cards before the balance is paid off?
Posted by admin on February 14, 2010 at 4:23 am.
- Trackback URL
- Comments feed for this post
- Tags: "closing credit cards with a balance", balance, Before, cache:wwos9kq6pmqj:credit-card-score.info/1426/credit-card-company-canceled-my-cards-because-they-were-not-used-will-that-ruin-my-credit-score/ credit card paid in full not used, can i cancel a credit card with a balance 2010, can you cancel credit card before paying off balance, can you change your mind after closing a credit card, can you cncel a credit card before its payed off, cancel, cancel a creditr card before balance is payed of, cancel credit card before balance is paid, cancel credit card before paid off, canceling a credit card with a balance 2010, cancelling credit cards shread credit score, cancelling my credit card to enable it to be paid off, cani cancel a credit card before i use it, cards, close credit card not paid off, close credit card with balance left, close credit cards before paid off, closing a credit card before balance is paid, closing credit card before balance is paid, credit, credit card, do you need to pay your credit card off before canceling it, does a credit card have to be paid off before it expires./, how can i cancel my credit card, i just paid off some credit card how long before it effects my credit score, paid, paid off credit card cancelled account, settling my credit card accounts, should i close my credit card account before the balance is paid
No You cant!!!
you can cancel them before the balance is paid off, but why?
Keep them open. Your credit rating will look better with the lines open. Instead of cancelling them, just cut them up or shred them.
Yes, you can request the issuer to close them, but of course you still owe the balance. This may actually lower your credit scores as your debt-to-limit ratio could increase.
you have to pay yoour debt before the company allows you to cancel th credit card
Call the company and ask, or just cut up the plastic card, then you can’t use it again. duh.
I would not cancel just cut them up if you change your mind you could always have them send you a new.
You have to pay your balance first and then cancel your credit card.
Best thing to do is to transfer as much as you can to the lowest-interest card(s). Then, leave the other cards alone. DON’T CANCEL THEM!!! Just leave them in a safe-deposit box, or just don’t use them.
By cancelling your card, it negatively affects your credit score. No one told me this, and I did EXACTLY what you are thinking about doing. Thought it would simplfy things, and I would have so much outstanding.
I’ve been rebuilding my credit now for over 8 years, and am not yet to 700.
Student loan consolidation is a good idea too, but this also puts a mark on your credit history. They DO NOT list the reason the account/loan was closed.
You most definitely do NOT have to pay off the balance — you can cancel before paying it off, and then just continue making payments. People do it all the time. It is regrettable that people who don’t know the answer insist on answering anyway with bad info.
However, it is also likely your credit history and scores will be better if you leave the accounts open; and even someday increase your credit limits. That will pay off years down the road.
If you don’t trust yourself, then either just cut the cards (without canceling the accounts), or place them in a plastic bag full of water and and put in your freezer to encase them in a block of ice.
You can cancel a card anytime. I closed several of my credit cards not because I was afraid I would use it again but because it the event I moved and I forgot about the credit card and it goes to the previous address where someone may use it. It’s better to be safe than sorry later.