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tmr5788

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you have a closed account due to store and bank ending their contract with each other what do i do
I didn't close it the bank did due to them ending contract with the store. Does this effect my credit because it shows closed account and it has a balance on it. I had 5 yrs interest free on purchase.

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This should not change anything, the contract you have in place should still be in force and is legally bound.  The closing is so that you can not add to the amount due by making another purchase at that store, it does not effect the current amount due and your payment agreements with it.  

You might also experiance the account being sold to another bank (now that the bank and store no longer do business the bank might not want to deal with the old loans and sell them to avoid the managment cost with those accounts).  Be sure to keep all of your paperwork, so that if a new bank tries to change your interest free time or anything else you have the original paperwork you signed for the contract.

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