Posts Tagged ‘happens’

What happens to credit score if you close a store credit card?

I have some store credit cards (Macy’s, the Republic of banana, etc) next to a major credit card. I want a part of the store credit card blocking, but I do not know how that effects my credit rating. I think that closing credit generally lowers the credit score, but how those store cards?

accounts owned by same person billed to separate addresses: what happens when?

Say you have a mortgage through a large national bank, and your statement is sent to that address. You also have a credit card with a smaller company, but you have that bill sent to a different address. Both are physical addresses. The bank with whom you have your mortgage buys and merges with the smaller company. Would your statements continue to be mailed to the two separate addresses? And what if, in the same scenario, your credit card is billed to a PO Box but the mortgage came to that physical address?

What happens to your credit card when the bank that owns it goes bankrupt?

<p>There is a lot of talk about Citibank trying to sell or merge with another bank. And it got me thinking. What does exactly happen when a bank shuts down? For example, let’s just pretend that Citibank goes bankrupt and no one buys them out. What happens to the credit card accounts?

What happens to my credit card if Citibank goes bankrupt?

<p>My oldest credit card, which has the highest limit, is through Citibank. What happens to my credit score if Citi failed to merge and just shuts down?
I don’t carry balances. I was just wondering if my account will be closed and reported to my credit report..