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If you close a credit card containing a balance in an attempt to pay it off faster how does this affect your finance charges? |
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Answer
It won't. The finance/interest charges will still be applied to the balance in accordance with the original lending agreement.
First answer by anonymous. Last edit by anonymous. Question popularity: 24 [recommend question]
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Answers.com > Wiki Answers > Categories > Business and Finance > Personal Finance > Money Management > Credit > Credit and Debit Cards > If you close a credit card containing a balance in an attempt to pay it off faster how does this affect your finance charges?
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Why do you still have finance charges even though you paid off your balance?
