0
Does it hurt your credit to close a credit card account that has a zero balance and is in good standing?
Wiki User
∙ 8y ago
Credit scores are calculated based on ALL the information showing in your credit at the time they are requested. In addition, they factor in "open" accounts in certain areas. You haven't provided enough information about your overall credit to receive a specific answer. If you have two to four revolving accounts after closing this one, you may be fine. If this is a recently opened account, you may be fine. But closing any account may change the length of time you have had credit (one important factor in scores), or the amount of credit available to you (which would change your ratios, another important scoring criteria). With a detailed picture of your current credit standing, someone with enough knowledge might be able to guess. But it would still be just a guess. The only way you will know for sure is to pull your scores, close the account, and re-pull your scores.
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
Can a creditor close a revolving line of credit account without notice when the account has been in good standing?
Yes. If you have no balance due or outstanding charges.
If you close a credit card will it hurt your credit?
It will not affect your credit if you pay off the balance when you close the account.
If you close your account with a balance will this hurt your credit or your credit score?
To successfully close an account, you must first have a zero balance on said account. Otherwise, you will still receive bills on that balance, which can and probably will accrue late charges.
Can credit card companies close your account and continue to charge interest on the balance?
Sure can, a dirty deal.
If you close a credit card does the APR go to zero?
No, the applicable interest and fees will still be charged until the balance of the account is paid.
Can a creditor close a revolving line of credit account without notice when the account has been in good standing?
Yes. If you have no balance due or outstanding charges.
Can you close a credit card account if there's a balance on that account?
You can, but you'll still have to pay the balance monthly until it's paid off. Incidentally, if you're closing an account to help your credit, research shows that closing accounts in good standing can often ding your credit.
If you close a credit card will it hurt your credit?
It will not affect your credit if you pay off the balance when you close the account.
If you close your account with a balance will this hurt your credit or your credit score?
To successfully close an account, you must first have a zero balance on said account. Otherwise, you will still receive bills on that balance, which can and probably will accrue late charges.
Will credit card company close your account once you pay off your balance?
no
How can you close a credit card account?
pay the balance,if any,and cut that bad boy up -> YOU CAN CLOSE IT WITHOUT PAYING THE BALANCE (CONTINUE TO PAY SO AS NOT TO DAMAGE YOUR CREDIT)...BUT IF IT'S A PROBLEM ACCOUNT YOU ARE BETTER TO BE THE ONE CLOSING THAN HAVING THEM CLOSE IT ON YOU.
Can credit card companies close your account and continue to charge interest on the balance?
Sure can, a dirty deal.
Can you close your checking account if you have a balance left on your VISA card?
Yes, you can close your checking account even if you have a balance left on your VISA card. However, closing the account will not eliminate your obligation to repay the remaining balance on your credit card. You will still be responsible for making payments on the outstanding debt.
How can you close your American General Finance account -?
Contact your local branch of AGFS. If the account was an installment loan, the account will "close out" at time of payoff. If the account is a revol line of credit, and has a zero balance, a written authorization can close the account or after 6mos of no activity the account will automatically close.
If you close open accounts will your credit score go up?
NO! THE OPPOSITE HAPPENS, YOUR CREDIT SCORE WILL LOWER. KEEP YOU ACCOUNTS OPEN EVEN IF YOU HAVE A ZERO BALANCE. NEVER, CLOSE AN ACCOUNT IF YOU CAN AVIOD THIS.
Can you close a credit card account if there's a balance on the account or must you pay the balance in full?
Yes, you can cancel the card even if there is a balance remaining on it. You contact the credit card company and request the card be cancelled. You will no longer be able to use the card, but you still pay the balance, either in monthly payments or in a lump sum. But you do not have to pay the balance in full when you cancel the card.
If you close a credit card does the APR go to zero?
No, the applicable interest and fees will still be charged until the balance of the account is paid.
