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Question By
sgrafins

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Single use store credit cards
If you obtain a store credit card (ie, furniture)and it is primarily used for a "promotional" purchase (0% financing for "X" term), and you pay off the purchase in the required time, but that account cannot be used for additional purchases, how do you handle having that account listed as open when you can't use it. Should you actually close the account?

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These kinds of cards are considered short term loans. And not a revolving credit account. 

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:Single Use Credit card

I may be sketchy on the details, but I believe we (actually my wife) had an account for purchases as described. Some time later, we were thinking about buying something else and we were told that the account was either closed or could not be used for new purchases (don't remember), and that we would have to open a new account. I actually haven't checked our credit reports lately, so that may give me an answer there, But all that being said, does a short-term credit card that was used, paid and then closed reflect negatively on your credit score?

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icuhowie

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Ahhhh ok,   The account might have been closed.   If you did not use it for a period of time,  ( something like 18 months maybe )  the account was closed in good standings.  Do check your credit report, it should show when the account was closed.  ( if it was in the last 6 months you might ( 50/50 ) be able to open the same account.  Does not hurt to Call and ask.

As this happened already should not reflect negatively on your CS now,  But your CS did drop a few points when the account was closed.  Should have bounced back by now. 

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