Just because the credit card has been torn up, dos not mn it is nolonger effectv

Some banks do charge a penalty for paying off your balance. They can only make money off the interest so they do not want to pay off the balance. Greedy buggers. Some financial advisers recommend only paying a small amount over the minimum required. Also paying off balances does not help your credit rating.

I also have to find out that if it will charge a penalty for those who pay off their balance each month. I found that some American banks do that. I plan to keep the card as when I have enough money I will go and buy that Macbook pro. i only have one thousand dollars to go.

sounds ok then

Here if you have a joint account in the bank even though one has taken his name off the bank, both of you still have the credit cards in both names. The main bill comes in the main owner's name, but your name is on it even though you have a different number. However, if you have your own bank account and your spouse has a credit card in their name, you cannot pay it from your own bank account online if the computer is in your name. For instance, supposing you are Mary Jones and you have your own computer that you had registered and you are married to a Bill Jones and you have your account at Walmart and use a Walmart Credit Card. Your husband has an account at Home Depot. Now your husband is broke, but you have a lot of money so you decide to transfer money from your bank to his Home Depot credit card. You cannot do it. The only way is that if both of you have joint accounts at Walmart and Home Depot.

That sounds wise to me - I am currently in the hell you speak of, paying off VERY slowly as I try to fight the interest rates! When I am done I will not have a credit card again. I was talked into it being told 'having no credit is as bad as having bad'. I understand why but I am not to be trusted with credit cards and I think it best if I live on cash now. Hopefully soon we will be paid off and lose the big black cloud hanging over us!! Well done getting out, good for you.

I have credit cards and the reason I did was that when I paid for something with cash, I got this almost faded receipt and I did not know what I had bought and also I am the type of person who when they have cash, it burns a hole in my pocket. Consequently I leave most of my cash at home, and I transfer so much from my savings into my checking and do most of the payments on line so I do not need to worry. Oh and I pay before the statements come due, often a couple of days after I buy something because those online statements miss me up. They show the whole balance, not just the ones that is due.

I did not realize it until I found that the online statement showed my old credit card number of the joint credit card we had was still on in my name since my husband had since closed his account at that bank and I had closed my account but later reopened it because I sick of the long line ups at the other bank.

The trouble with that is that because I have a smaller pension then my husband, my credit limit will go down. This way, we still have our credit limit that it was when he retired. I did make it so that we can pay the account from either our joint bank account or mine. I do know of those who took their name off of the joint credit cards and now they are shopping at Shoppers or the main grocery stores, taking out their cash and counting in coins because they do not make enough to qualify for a credit card unless it is a secured one.

Did you read the discussion? My husband was the one who destroyed the card and I thought that he had already notified the bank. So stop blaming me for something my husband failed to do.

What upset me was that when we were getting our house renovated, we had to stay at a motel and he put the bill on the credit card. (Luckily it was not the bmo card - I made sure that I 'forgot' the wallet and left it at home) and now we have to get a new furnace and so either he will want to put it on equity or on the card again. And there is a good chance that he might not survive to next Christmas. Right now I am paying for half the groceries, but I guess I will have to pay for all of them so we can pay off that debt in time.

We do not have a charge to pay on it. I was thinking of the time when we were using it, before my husband retired. Since then he has just used his card and I have just used my card, but this Mastercard offers airmiles and now since us seniors cannot get the airmiles on our debit cards unless we pay an extra $5.95 or $6.00 a month and I do not go to Safeway as it costs too much, the only way I can get airmiles is to use my Mastercard. That is what makes me upset.

Before when we used that Mastercard it was just in my husband's name, and then when I tried to use it to buy somethings, the sales girl said she would not accept it, even though my husband was close by and I had a wedding ring on my hand and also proof that I was indeed married to my husband. She insisted that if I got a card in my name, it would go through. So I had to get one.