Question
credit card finance charge question?
I have a credit card account with chase that I closed a few months ago because I thought credit card companies had to apply payments to the highest interest charge first. Well chase informed me that was not yet a law, and in furry, I canceled my account. It is also my belief that when you close a credit account, the account is closed. There are supposed to be no more charges made to the account. But I'm still being charged finance charges on my cash and credit balances. Is that legal?
1 month ago - 4 answers
Best Answer
Chosen by Asker
The info you have about closing an account and stopping the fees is false as long as there is a balance on that card you will be charged fees and interest.
1 month ago
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Other Answers
If you still have a balance on that card, yes, they can most certainly still charge you interest on it. All closing the account does is prevent you from charging anything more.
by *Cara*- 1 month ago
Of course they can continue to charge finance charges to un paid balances. If they didn't everyone would just get the card max it out, close the account and have a free loan.
by WRG- 1 month ago
Finance charges accumulate every day that you carry a balance. As long as you carry a balance, whether or not the account is open or closed is of no relevance. Instead of closing your account, you could enroll in one of chase's options where you can choose how to pay off your balances so that you don't end up with quite as many finance charges. www ...
by kendra2funny- 1 month ago