If a credit card company goes out of business, do I have to pay to another company. Even if I cant use my card anymore.
I have a credit card that went out of business about two years ago. I was informed that I could not use the card anymore because the account was closed. I had set up automatic payments so they deduct the payment from my checking account each month. They also charge me a service fee each month but cant use the card. My question is do I have to pay if they transferred my account to another company?