Pay off & cancel CC to avoid reverse charge-back?

[trevor15]

What is the name of your state? FL
I filed a chargeback with my CC company and received an initial credit. Then charge was reversed in favor of the merchant. After submitting more evidence they ruled in my favor and gave me back the amount of money in dispute. However, that's still not a final decision and they could reverse the charge again in favor of the merchant.
My question is - can I pay off and immediately close that CC to avoid a possible reversal of the outcome? I also have another CC with the same company.
Thanks

 

[Zigner]

Nope - it doesn't work that way.

 

[adjusterjack]

can I pay off and immediately close that CC to avoid a possible reversal of the outcome? I also have another CC with the same company.

If the bank finds in the merchant's favor and you have closed the account, the bank can do one of several things:

1 - Reopen the credit card account and charge the account.
2 - Charge it to the other account under the Right of Set Off.
3 - Take it out of your checking or savings account (if you have them with that bank) under the Right of Set Off.
4 - Do any number of other unpleasant things to get the money out of you.

And even if you maintain the successful chargeback, it doesn't mean you don't owe the money to the merchant who can also do unpleasant things.