I have a $5500 debt on my credit card and the card expires in august this year. Do i have to pay the full amount off by then or will the bank just renew the card and the debt rolls over?|||No, you do not have to pay off the debt before August or when your card expires. If they choose to keep you as a customer, they will send you a new card with a new expiry date and the bills will keep coming just as they always have.
If they do not extend you a credit card after August, you will still get the bills and you will have to pay them (at least the minimum due) until you have the $5500 paid off.|||You must pay at least the minimum payment each month, and the card will be renewed unless something drastic happens to your credit.
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