Legal Question in Credit and Debt Law in Georgia
credit cards
If you close a credit card account can interest still acrue?
Asked on 10/29/07, 3:21 pm
2 Answers from Attorneys
Scott Riddle
Law Office of Scott B. Riddle, LLC
Re: credit cards
We do not have the credit card agreement that covers the relationship. There you will find the answer. However, it would be the rare case where a consumer can get out of interest by closing the account, unless the account is paid off at the time. That would make little sense.
Answered on 10/29/07, 3:26 pm
Glen Ashman
Ashman Law Office also dba Glen Ashman Attorney
Re: credit cards
Yes. And in some cases they can increase the rate.
Answered on 10/29/07, 5:40 pm
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