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What happens when you pay off a credit card balance? Do you sill have a monthly payment for that card?

credit card, pay off

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mommyofone740

Asked by mommyofone740 at 10:57 AM on Jul. 13, 2011 in Money & Work

Level 9 (321 Credits)
Answers (13)
  • Nope but you dont want an empty credit line.. either close it or use it and pay off every month
    MommaB30

    Answer by MommaB30 at 10:58 AM on Jul. 13, 2011

  • Typically speaking once you pay off a credit card you will no longer have a balance due, unless used again of course.
    babybellahelp

    Answer by babybellahelp at 10:59 AM on Jul. 13, 2011

  • You might receive 1 statement with a little bit of interest on it...it depends on where in the cycle you paid it off. You don't have any payments if the balance is zero...in fact you probably won't even get a statement.

    yourspecialkid

    Answer by yourspecialkid at 10:59 AM on Jul. 13, 2011

  • you usually have a monthly fee that is attached with the card. Its like $3+ a month so make sure you check
    dedicatedmama2

    Answer by dedicatedmama2 at 11:00 AM on Jul. 13, 2011

  • depends on the company- If they have monthly or annual fees those will eventually show up and be owed.
    But_Mommie

    Answer by But_Mommie at 11:00 AM on Jul. 13, 2011

  • There can be fees owed even if you don't use it. And it's not a good idea to have a completely empty credit line on your report. To a creditor it's like why do you have credit if you're not going to use it. If you don't want it anymore, cancel it. If you do, just use it a little.
    scout_mom

    Answer by scout_mom at 11:01 AM on Jul. 13, 2011

  • If I don't use my card I get a statement showing I owe nothing. I use my cars 3-4 times a year and pay them off immediately. My credit score is in the 800's.
    Anonymous

    Answer by Anonymous at 11:09 AM on Jul. 13, 2011

  • NOT ALL cards have fees. It depends on the card. assuming there is NO monthly user fees or an annual fees once it's paid off you don't get another bill. If your card has a monthly fees or annual fee then you will get a bill for those fees when they apply.
    SAHMinIL2

    Answer by SAHMinIL2 at 11:10 AM on Jul. 13, 2011

  • If you aren't using it and you have a card that doesn't charge fees, you will probably get a statement showing a zero balance.
    JulieJacobKyle

    Answer by JulieJacobKyle at 1:26 PM on Jul. 13, 2011

  • MommaB CLOSING a ccaccount can be BAD for your credit. Keeping an open account with a zero balance isn't, ESPECIALLY if you have other rotating debts you are making payments on anyway (mortgage-car payment).
    Anonymous

    Answer by Anonymous at 2:39 PM on Jul. 13, 2011

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