Deepshikha

  Before closing your account, you are not required to pay off your credit card balance. But closing the account is generally not advantageous if you decide to move forward with it, you'll still have to pay the balance if there is one and the card issuer may keep adding interest to your bill. What Takes Place When a Credit Card Is Closed With a Balance? There are a few considerations to make before closing a credit card with a balance. You won’t be able to use the credit card to make purchases after you close it, to start with. Second, the remaining balance is still your responsibility to pay off. Third, interest may continue to be charged on the unpaid balance. It is still essential to pay off the outstanding amount as soon as you can. Benefits of canceling your Credit Card There are some circumstances in which you might want to cancel a credit card that has a balance. Eliminate annual fees If you cancel your credit card before or shortly after your first anniversary wi...

Every time you use a cashback or travel credit card for offline and online transactions, you have the chance to earn rewards in the form of points, miles, or cashback. It's not difficult to master taking advantage of these benefits and making the most of them, but you can do it by putting some solid techniques in place. Cardholders can receive hundreds of dollars in cash back, free travel, free lodging, and other rewards each year. Here are some suggestions to help you get the most out of your rewards cards. Strategies To Maximize Credit Card Rewards Spend and categorize: Some issuers provide greater rewards at specific periods of the year for spending in particular categories. For example, your cashback credit card may boost your points or grant you a certain percentage of cashback on all of your purchases for that month or may double the points if you buy movie tickets. Issuers often announce their bonus categories well in advance, to make customers aware of them, and enc...