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Closing a credit card, wait 2 months?
Don80
Posts: 300 Forumite
in Credit cards
I want to close a credit card I've paid off in full using a 0% balance transfer. I know how to do it, but some threads here say to wait 2 months between paying it off and closing the account. Is that necessary, if so, is there a reason for that?
0
Comments
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No. There can be trailing interest, but that just means you may have something to pay next month. As long as you check your statements, it's fine.
It will only be fully closed once the balance is zero. Though can still be brought back to life via a CPA.0 -
Many cards, Cap1 for example, shut down on line access as soon as you tell them to shut the card down. I always wait for a £0 or no bill produced tag before closing.0
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