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Mervyns CC Closure.

SOLVED
Established Contributor

Mervyns CC Closure.

Looks like Mervyns is going to close most (or all) of its stores. Also people's mervyns card are being closed by mervyns..

 

Can anyone let me know how it is reported in the Credit history, closed by creditor or closed by comsumer?

 

Thanks.

-void
Message 1 of 22
21 REPLIES
Senior Contributor

Re: Mervyns CC Closure.

do you think GEMB will let people do a product change to another card?
Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Message 2 of 22
Established Contributor

Re: Mervyns CC Closure.


voidman wrote:

Looks like Mervyns is going to close most (or all) of its stores. Also people's mervyns card are being closed by mervyns..




May I ask where you heard this ?

I was hoping that GEMB might convert the Mervyns card to something else.
Message 3 of 22
Established Contributor

Re: Mervyns CC Closure.



May I ask where you heard this ?

I was hoping that GEMB might convert the Mervyns card to something else.

 

The store close to my home in CA has now out of business sale, plus if you check their website, try appliing for a new mervyns card, it says that they have stoped doing that also, there will be no returns after Sep 14... and ofcource its been in the news about its closure for a while. 

 

 

-void
Message 4 of 22
Regular Contributor

Re: Mervyns CC Closure.

I got a message on my statement advising me that I could no longer make anymore purchases on my card after Nov. 1, but they're still reporting to the CRA as an open charge account.. Im really bummed about this because this was my oldest and only store charge card and now they're closing.... Super Bummed Smiley Sad
12-08 TU 654 EQ 630 EX 628

12-08 TU 640 new accounts

1-31-09 EQ 644 15% util !!!
2-10-09 EX 663 15% util !!!
Message 5 of 22
Established Contributor

Re: Mervyns CC Closure.


kay82 wrote:
I got a message on my statement advising me that I could no longer make anymore purchases on my card after Nov. 1, but they're still reporting to the CRA as an open charge account.. Im really bummed about this because this was my oldest and only store charge card and now they're closing.... Super Bummed Smiley Sad

 

Yeah, i am in a similar situation, it is the only store card that I have. I have not got any mail from Mervyns about it like you have got. I am in CA in the bay area, where are you living?

-void
Message 6 of 22
Moderator Emerita

Re: Mervyns CC Closure.


voidman wrote:


MojaveMoon wrote:

May I ask where you heard this ?

I was hoping that GEMB might convert the Mervyns card to something else.

The store close to my home in CA has now out of business sale, plus if you check their website, try appliing for a new mervyns card, it says that they have stoped doing that also, there will be no returns after Sep 14... and ofcource its been in the news about its closure for a while.  



But just to clarify, does it actually say that the cards will all be closed, or just that they're not taking apps for new ones?

Generally, when a store goes out of business, or they discontinue the CC relationship, the issuing bank offers some sort of replacement. It seems like Chase used to have some sort of Disney-type thing, and they ended it and offered cardholders a non-co-branded Chase bank card.

In fact, if Barnes and Noble buys out Borders, I'm hoping that this will happen with my Borders Visa.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 7 of 22
Established Contributor

Re: Mervyns CC Closure.

I recently closed my Mervyn's account.  I got a letter stating they appreciated my business and they hoped I would continue to shop with them.  It also said I could reapply.  I just received the letter a few days ago.  I am sure it hasn't been updated as far as the "you can reapply"--because you can't.  

 

I hope they do offer to switch people to another card.  For me though I was pulling weeds, and Mervyn's happened to be one of them.   To clarify though they didn't close my card.  As far as I know the store was still accepting them 2 weeks ago.  However they are no longer accepting payments on the card and they are no longer accepting gift cards or merchandise return credit.  

 

If GEMB were to allow you to change to another line what would you change to? 

Message 8 of 22
Established Contributor

Re: Mervyns CC Closure.

I would prefer a GEMB backed gas card, i guess that would be more usefull than the mervys... I hardly shop at mervys....
-void
Message 9 of 22
Regular Contributor

Re: Mervyns CC Closure.

Im in SoCal just got approved for a target card but with that card closing that takes away 8 years of credit history....but on the statement it said no more purchases can be made with the card ....
12-08 TU 654 EQ 630 EX 628

12-08 TU 640 new accounts

1-31-09 EQ 644 15% util !!!
2-10-09 EX 663 15% util !!!
Message 10 of 22