How much depends on: a C/ How old is the account relative to your other accounts?
(Closing one of your oldest accounts, particularly if you don't have many accounts, will hurt you.) a C/ How many other credit lines do you have?
In addition, members agree per UW Credit Union’s Membership and Account Agreement to not write post-dated checks as a form of payment or negotiate checks that are post-dated.
The Question: I recently sent in my rent check early, as I usually do, with the date on the check reading Sept. The check was cashed by my landlord at his bank (Dollar Bank), and my own bank (Key) on Aug. There would have been enough money in there by Sept. One section, Article 4, 4/401(c), says: "A bank may charge against the account of a customer a check that is otherwise properly payable from the account, even though payment was made before the date of the check, unless the customer has given notice [such as stop payment] to the bank of the postdating." As far as whether it's illegal to postdate a check, it's not.
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.
A provisional patent application is usually filed with a singular purpose – To gain the first (earliest) filing date or to gain priority for the application.
a C/ How much of your total credit card capacity (on all cards combined) do you use in a given month?
Even if you use it and pay it off in full every month, that's still considered a balance for credit report purposes.
Are we in jeopardy of a change in our credit score, which is in the 800 range?
We've always paid the total balance due each month.
The Answer: My first question for you: Why do you want to close it so badly?
There are several advantages to taking postdated checks in settlement of an account balance including these: 1.
The fact that you are holding a check that will be presented to the bank for payment on a specific date places a burden on the debtor to have funds on deposit when the check is presented. In the event that the check is dishonored and the customer is sued, the existence of the check makes it harder for the customer to argue that the debt was never owed. Even if a post dated check is not honored when it is first presented, there is always the possibility that the check will clear at its second presentment, or that the creditor can tender the check to the debtor's bank on a collection basis.