bdancer222
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Yes, but it's a bad idea. When you close the account, you lose any bargaining power as you are no longer a customer. You might end up with the interest rate increased to the default level. It will also hurt your credit score.
Make the big payments and get it paid in full. Then close the account via letter requesting confirmation the account is closed and 0 balance. Sometimes closed accounts come back to haunt you. |
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Debt Guru
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Why do you want to close it without paying the balance? Just cut the card.
Closing the account with the balance outstanding will indicate financial problems to other lenders/creditors who look at your credit report. |
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Kamui VII
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yes and no... most companies wont let you unless your going to pay the balance in full... or let you close the account but mark your credit score with negative feedback as account closed with balance. which is like defaulting on a loan, not good
its best just keep the account active and just pay it off. and when your done paying it off close it |
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ontopofoldsmokie
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You can close the account and cancel the card. You do still have to pay the balance just like the account is still open. I will tell you that cancelling cards may negatively affect your credit score. I believe that to be bull, but it's the way the industry works. I will also tell you that sometimes they make it difficult to close accounts. They really don't want to lose you as a paying customer. Someone's got to pay for those really cool credit card commercials and nice buildings the companies has. |
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wisegirl74
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Yes definetly, but when you close the accounts the interest rates are still variable, closing the account does not mean that the interest will be locked. |
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Jeff M
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From my personnal history, you can not close the account until after you have paid it off. Financial planners would tell you to cut the card up and then continue payments until it is paid off. Then request the account to be closed.
Hope this helps. |
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mscarriem
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yes you may close the account, but be warned once you close it the status on your report will show closed by consumer, it will also pull down your score from around 30-50 points while you still carry a balance because, you now owe money on a credit card that has NOTHING available because it is closed. Credit rating drops when you owe more than is available on credit cards, so if you are planning on buying something in the near future you are better off paying down as much as you can but leaving the account open |
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Max
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Absolutely. You can close the account and pay off the balance. Your credit report will show "closed at the request of the customer". |
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Harleigh
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Sure you can! If you close it and continue to make the payments on schedule, that actually looks GOOD on your credit history. Make sure they put "account closed by consumer request" in your credit file. |
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jez259
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I know for a fact you can coz I did. |
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CupCake
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Yes... you can close the card with a balance... |
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Crazydaisy
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yes they will let you close the account..
Good Luck paying your account it will take time
but worth it in the long run |
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kate1262
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Yes, You can close your account and still continuing to payoff your credit card, but I was informed that your credit scores will be affected. They said it was best to keep them open and not to use them. |
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