Post dating cheques illegal uk
Questions about overdrafts as a result of the early processing of post-dated items should also be addressed to the financial institution.
The bank can cash it unless it believes the check won't clear or is fraudulent.
Even if you use it and pay it off in full every month, that's still considered a balance for credit report purposes.
One good reason to close it might be if there was a new annual fee. Only you can decide whether the ding to your rating is worth whatever you gain.
But they may be referring to the fact that you're not supposed to give someone a check that you know is not good at that moment. I'm working with the bank to see if they can't give you more of a break this one time. You will get burned, and you will be the one in the wrong.
The Question: We've had a GM Master Card for 14 years and have purchased two cars with our "earnings," most recently in February. What can you tell us about the wisdom in closing this account?