What happens to Toys R Us store card now that they are closing?

[heather06]

Just wondering what happens to your Toys R Us store card and credit line now that Toys R Us is closing? Are you still able to use the card, does the credit line just go away? I have 3 synchrony accounts - walmart mc, amazon store card and toys r us store card. How will this affect my credit score? Anyone know?! Have never had a card from a store that actually closed down so not sure how it works.

Really bummed its closing down... loved shopping there esp since i have 6 children  

[AverageJoesCredit]

Sad day indeed. Id imagine the card will just cease to exist . The only way i see it affecting your score is if you dont pay what you owe if you owe anything or perhsps your overall utilization. We are headed into a heartless era , skynet not to far off imo.

[heather06]

I still have a balance on my card. will the line continue to show until i pay it off or will the full balance be due now that they are closing? ugh - it was a decent credit line for me - i'll be sad to see it go.

[Anonymous]

They usually close down the cards. Happened with a few of my store cards during the recession. Toys R Us is nostalgic and I remember it well growing up as a kid in the 80s, but lets be honest, how many of us either a) buy a lot of toys anymore or b) go to a toys r us to buy them? Amazon and smartphones and digital tech. Thats what happened to Toys R Us. We will all remember that magical feeling of walking into one when we were kids but if were honest we just dont use it anymore as a society like that

[UncleB]

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@heather06wrote:

I still have a balance on my card. will the line continue to show until i pay it off or will the full balance be due now that they are closing? ugh - it was a decent credit line for me - i'll be sad to see it go.

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@heather06, even if they close the card you'll be able to continue paying your account under the existing agreement. 

[CreditCuriosity]

DIdn't have much to do with Amazon or smartphones.  The company IMO was mismanaged for years and had heavy debt in the billions is what ultimately caused their dismise.  I am in my 40's and would have no issue dropping a few hundred even at my age for say legos that I couldn't afford or get as a kid or puzzles or even PS4's and the likes.  Alot of people still went into their stores although overtime they started falling into disrepair due to the debt earlier mentioned, etc.

[SunriseEarth]

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@heather06wrote:

Just wondering what happens to your Toys R Us store card and credit line now that Toys R Us is closing? Are you still able to use the card, does the credit line just go away? I have 3 synchrony accounts - walmart mc, amazon store card and toys r us store card. How will this affect my credit score? Anyone know?! Have never had a card from a store that actually closed down so not sure how it works.

Really bummed its closing down... loved shopping there esp since i have 6 children  

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The timeline is speculation at this point, but the card will probably be closed.  Often, the cards will stay open for a considerable time after a store closure to allow people to pay off balances.   As long as the account is open (or a balance is due), it will factor into your UTIL.   Depending on how your overall UTIL is, YMMV in terms of how the account closure will affect your scores.  

[Adkins]

^This. ToyRUs got bought out and screwed over. Basically. This is a really good video of what happened and why:

https://m.youtube.com/watch?v=4JYUo9WKkao

[Anonymous]

It is worth pointing out that when they close the cards your UTIL will show 100% on that card until it is paid off since your new CL will be 0. You may want to make repayment of that card a priority if this will affect you.

[fltireguy]

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@Anonymouswrote:

It is worth pointing out that when they close the cards your UTIL will show 100% on that card until it is paid off since your new CL will be 0. You may want to make repayment of that card a priority if this will affect you.

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That is not correct - when Sync closes an account, the CL stays intact, with 0 available CL, until the balance is paid off..

it will NOT affect your util. In a negative manner