Circuit City Credit Cardholders Beware: Your Accounts Aren’t Closed

If you’re a Circuit City credit cardholder and thought that your account was closed along with most everything when the shop folded its doors, take notice:  your accounts are still open.  Don’t assume that Circuit City took it with them to the grave - credit card issuers are a little more savvy than that.

Apart from the fact that any balance you have continues to exist, it also means that you’ll have to continue paying any fees you’ve been charged on it just like usual.  Should your renewal date be coming up, better be ready to pay the annual charges.  If you don’t want or don’t need the card anymore, you’ll have to call up the issuer and have it closed.    Of course, you’ll have to go through the usual card cancellation process, along with the possible impact it can have on your credit score.

In place of Circuit City shopping, the store credit cards have now been automatically changed to work at Best Buy.  Current cardholders should be receiving their new Best Buy-branded credit cards in May.  If you want to shop now, the existing Circuit Card will be accepted in all Best Buy locations.

If you’re among those who though your Circuit City cards have died off, best get up-to-speed really fast.  After all, if you have that credit line open and you’re unaware of it, you can easily fall victim to identity theft.  Just a word of caution!