ok guys,
I have had a credit cards for years. always managed to pay it off no probs. recently moved into a new house so the credit card got a bit of a bashing. have paid 6k off it in the last 4 months (since we moved house) but stuff that we needed has been going on to it too so i'm finding it difficult to clear.
So i basically am thinking of either asking them to reduce the limit by about 80% or cancel it altogther.
my question is, if you owe money on it what happens when you cancel it? do you have to pay it back straight away in a lump sum or what?
I have had a credit cards for years. always managed to pay it off no probs. recently moved into a new house so the credit card got a bit of a bashing. have paid 6k off it in the last 4 months (since we moved house) but stuff that we needed has been going on to it too so i'm finding it difficult to clear.
So i basically am thinking of either asking them to reduce the limit by about 80% or cancel it altogther.
my question is, if you owe money on it what happens when you cancel it? do you have to pay it back straight away in a lump sum or what?