Credit Tips: Paying off Your Credit Card Balance Tip
Written by carnold
Posted On: January 1, 2006
Author: theresa
Posted: Wed Jul 07, 2004 9:30 pm
Post subject: Paying off Your Credit Card Balance Tip
2/8/2002 0:37 am CDT
I have been told that if you accept a check with payment in full in the memo section that the account is paid in full. Is this correct?? Thanks.
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Author: Dani
Posted: Wed Jul 07, 2004 9:31 pm
Post subject: Paying off Your Credit Card Balance Tip
2/8/2002 8:33 am CDT
Not exactly. Many credit card companies have it stated in their terms agreement that a check processed with the words paid in full in the memo section can not be applied to them (credit card company).
Author: Ed Mason
Posted: Wed Jul 07, 2004 9:31 pm
Post subject: Paying off Your Credit Card Balance Tip
2/8/2002 8:16 pm CDT
Not With Credit Card Companys.. They will cash the check, but it will not relieve you of the outstanding debt..It is in the terms of the Credit Card agreement..
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Curtis Arnold, a nationally recognized consumer educator and advocate, has been educating consumers about credit cards since 1998. Curtis is the author of "How You Can Profit from Credit Cards: Using Credit to Improve Your Financial Life and Bottom Line" (FT Press, 2008). He is also the co-author of the upcoming Complete Idiot's Guide to Person-to-Person Lending (Alpha Books/Pengiun Group USA, April 2009), a contribitor to The Ultimate Allowance (InnerWealth Publishing, 2008) and is extensively featured in 42 RulesTM for Driving Success With Books (Super Star Press, January 2009).
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