If I elect to close a credit card, is the bank required to stop charging interest and late fees.

Assuming that a balance still remains on the credit card, it really depends on what the credit card agreement states.  You need to read the terms of the contract you agreed to when you started the credit card account. Each case is different, and needs to be examined individually. You should contact a local attorney to discuss your case. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.