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Originally Posted by livingdustmops Kristy I am no expert on this but you also need to send them a letter telling them you want the account closed. Just because you have paid it in full and no longer are using the card it is still an active account. If you go to buy a home it will still show active if you don't close or if you do close it will state closed by customer. It will still be used as a portion of your debit to income when they are figuring if you can buy a home.
This is where it gets confusing as some financial experts say you do need to run with some credit on the books but your account with Chase will always be with one of the big 3 who collects this data and will still show up 30 years later.
Maybe someone with more experience than me can better define this. |
You do have to close it out in writting. I remember hearing (was it on here or one of my local friends?) about someones mother passing away, and months later the credit card company sent a bill for the annual fee and then turned it over to collection when it wasn't paid. It was a big hassle with the credit card company because they wanted the dead person to send them a letter.
