I have 6 credit cards in total. Ever since the lockdown happened, I have used only 3 cards out of them. I have not used them. I have not paid any bills also. My questions.
Can credit card companies cancel the cards?
What should I do now?
Do you have outstanding
balance on those cards? If so, then credit card companies will not
cancel your cards. Rather, they can send your accounts to collection
agencies of the outstanding balance is quite high. Pay your credit card
bills and keep the accounts open as they make a positive impact on your
credit score.
Hi Deevee! If you have
outstanding balance amounts in those 3 cards, the creditors can sue you
for nonpayment of debts. In that case, feel free to call 800-DEBT-913
for immediate debt help.
And if you don't have any outstanding balance amounts and you don't use
them for an year or more, the credit card companies can decide to close
your account. So, in that case, reach out to the credit card companies
at the earliest.
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Maybe, you would be able to reduce a portion of your debt.
Otherwise, later the debt collectors can harass you.
Sub: #1 posted on Wed, 12/23/2020 - 19:45
(Posts: 249 | Credits: )
Sub: #2 posted on Thu, 12/24/2020 - 00:03
(Posts: 388 | Credits: )
And if you don't have any outstanding balance amounts and you don't use them for an year or more, the credit card companies can decide to close your account. So, in that case, reach out to the credit card companies at the earliest.
Sub: #3 posted on Fri, 01/01/2021 - 05:34
(Posts: 273 | Credits: )