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

[Anonymous]

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@Anonymouswrote:

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

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Totally incorrect.  None of these store closings are related to Amazon. They are all related to companies being taken private totally leveraged.  Then the buyers borrowed even more money and gave themselves dividends.  Don't invest any money into any of the stores and have tremendous bonds that came due and they can't afford to pay them.  People got very rich destroying companies and pocketing their assets.  Bond holders left holding the bag

I buy toys all the time. I have a small child. I used to buy them at Toys R Us but the people working there were so rude I stopped going.   People will just buy toys at Walmart and Target now.   

Publicly owned retail establishments with low debt  are doing very well. I have made a lot of money investing in William Sonoma, DSW and the Gap in the last year or so because are so in this Amazon is killing retail fallacy. 

[Anonymous]

The store card will be closed more than likely. I wanted to add that growing up we never got toys from toys are us that was for the “rich white kids” lol Walmart, dollar store was where my parents got us toys. So to many ppl like me they shutting down is no biggie.

[Anonymous]

Here are the questions and answers from the store itself.

https://www.toysrus.com/cobrand/help/store-closing-faqs

Edit:

Customers with gift cards or store credit need to act fast. A company spokesperson said Thursday that rewards dollars, Endless Earnings and gift cards are being honored for the next 30 days.

New York Democratic Senator Chuck Schumer wants the toy company to redeem unused gift cards for cash so "they are not as worthless and unwanted as a lump of coal in a stocking," he said in a release Wednesday.

If you prefer to shop online, there are some added risks now. "If it comes damaged or it's not what you want, the opportunity to return it is going to be minimal, so buying online has a much greater degree of risk at this time," said Tatelbaum.

[bizarrocreditworld]

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@Anonymouswrote:

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@Anonymouswrote:

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

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Totally incorrect.  None of these store closings are related to Amazon. They are all related to companies being taken private totally leveraged.  Then the buyers borrowed even more money and gave themselves dividends.  Don't invest any money into any of the stores and have tremendous bonds that came due and they can't afford to pay them.  People got very rich destroying companies and pocketing their assets.  Bond holders left holding the bag

I buy toys all the time. I have a small child. I used to buy them at Toys R Us but the people working there were so rude I stopped going.   People will just buy toys at Walmart and Target now.   

Publicly owned retail establishments with low debt  are doing very well. I have made a lot of money investing in William Sonoma, DSW and the Gap in the last year or so because are so in this Amazon is killing retail fallacy. 

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I totally agree with what you're saying. What the three companies you have done well investing in have one thing in common: They're very effective at balancing their emphasis between the stores and the website as far as sales are concerned. They also do well in how they position themselves (Williams-Sonoma is more upscale, DSW is across the board and Gap spreads themselves out with thier brands, Old Navy being family-oriented and the most heavily advertised in NYC, Banana Republic being trendy and Gap being somewhat upscale).

[Anonymous]

Publicly owned retail establishments with low debt  are doing very well. I have made a lot of money investing in William Sonoma, DSW and the Gap in the last year or so because are so in this Amazon is killing retail fallacy. 

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You have? Every company you mentioned is either flat line or marginally up, and most are well below their 5 year peaks. Williams Sonoma: Down from 1 year highs, down for most of the year, massively down from its 2015 range. This in a year when a S&P 500 index fund would have got you 20% returns. DSW: flatline over the last year. Down again from 5 year trends. GAP: Marginally up, down from 5 year trend. If this was your stock portfolio over the past year, you have done very, very badly. As would be expected from Retail stocks facing the Amazon threat, the industry is a really bad performer in comparison to the broader market. Oh btw, if you had bought Amazon stock exactly 1 year ago instead of those retail stocks, you would be up close to 100%. You would have doubled your money.

[Anonymous]

Well, you have to take into consideration when he/she got into the stock. 

For #DSW, there are a few good entries in the past year: in the $16, $15.50 and you have to take into account how much was bought.  Stock now is $21.65

For #GPS (GAP), a lot of good entries into the stock in the past year: $20s, $23s etc.  Again, you have to look at the time you went in and how many shares were bought. Stock now is $31.95

Even with #P(Pandora) right now being down all day, people still made a lot of money going in at the low of the day $5.10 and getting out at $5.18.  Stock is now $5.10  That's $.08/share * say 10,000 shares = $800 in one trade * several times a month on other stocks....if one can do that a least 5 times in a month with any stock, easy $4k/month.  Very possible.

[bk13girl]

Of course you won't be able to use the card. Just make sure you pay your balance off.

When The Limited closed, I paid my card off and its still showing as open.

Just pay it off and let it sit. Eventually the creditor will close all accounts. Shouldn't affect your utlization at all.

[gdale6]

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@Anonymouswrote:
I was wondering if maybe Syncrony would allow for the limit to be transferred to another card, given the circumstances. I too have a decent limit with them and my file is pretty young cause I’m in my early 20’s. My score really can’t afford the loss of available credit... and I’m about to do a HELOC 😟

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Synch has never transferred a limit to another card.

[Gemini77]

Synchrony just closed my ToysRUs card. Got a myFICO alert that my account status is paid loan. Checked the card account and I have $0 available credit. The balance was paid in full already. Just hope that the closed account doesn’t damage my score. So far it doesn’t appear so, but I’m keeping an eye out.

[Anonymous]

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@Gemini77wrote:
Synchrony just closed my ToysRUs card. Got a myFICO alert that my account status is paid loan. Checked the card account and I have $0 available credit. The balance was paid in full already. Just hope that the closed account doesn’t damage my score. So far it doesn’t appear so, but I’m keeping an eye out.

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When did you use the card last? Mine is still intact.