Making final cc payments
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| Tue, 03-22-2005 - 6:49am |
This has come up several times lately, so I thought I'd throw this in:
When making your final payment on a cc, you can avoid the extra accrual of interest that leads to having to make one more payment. When you are ready to write your check or log on to pay online, first give the cc company a call. Ask them for the "ten-day pay-off amount." It will be slightly more than the balance on your account. Send them the "ten-day pay-off amount" and it will completely pay off your account and avoid additional interest charges. You may end up with a small credit on your account, which you can then request (in writing) that they send you a check for.
Usually, it's not a big deal either way, but I thought someone might be able to make use of the info.
Heather

All my best,
Danni
Thanks! I did not know that. I have one of my small cards almost ready for final payment.
Christie