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Closing a credit card with a incredit balance
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TMBH
Posts: 12 Forumite
in Credit cards
I recently opened two new credit card accounts, one for using abroad (Halifax) and one for general purchases (Amazon).
I had been using a card prior to this, an earlier Amazon card. I am all set up to just use my two new cards as they have higher limits and earn me cash back etc so I want to close my older account. I've just been granted a refund on my old card so I now have a £350 credit on the account. If I send the money to my current account I have to pay a 4% charge!
Can I just close the account and have the money automatically transferred into my linked current account?
I have always paid off my balances in full, have a mortgage and not in need of any loans anytime soon.
I had been using a card prior to this, an earlier Amazon card. I am all set up to just use my two new cards as they have higher limits and earn me cash back etc so I want to close my older account. I've just been granted a refund on my old card so I now have a £350 credit on the account. If I send the money to my current account I have to pay a 4% charge!
Can I just close the account and have the money automatically transferred into my linked current account?
I have always paid off my balances in full, have a mortgage and not in need of any loans anytime soon.
0
Comments
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Yes........0
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YorkshireBoy wrote: »Yes........
Although the OP may find that they issue a cheque rather than doing a transfer.0 -
Although the OP may find that they issue a cheque rather than doing a transfer.
OP has a DD set up (reference to a "linked account"), so shouldn't be an (AML) issue with an FP/BACS Direct Credit to the same account.0 -
Thanks everyone. I'll cancel the account and post what happens.0
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