I have a Circuit City credit card with a balance..?

Tips and Deals Forums Consumer Credit Credit Cards I have a Circuit City credit card with a balance..?

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    • #210557
      Anonymous
      Inactive

      Its a Chase card. What happens now that they are going out of business? AM I going to have to pay my card in full because of this? Will my card still be valid?

    • #276782
      Anonymous
      Inactive

      It’s business as usual when it comes to money owed. Whoever is at the other end, you will keep receiving a monthly balance thing.

    • #277247
      Anonymous
      Inactive

      go to circuit city they will tell you.

    • #284796
      Anonymous
      Inactive

      Well, not every circuit city is closing so you can actually still use your card. And even if they went out of business totally you would still have to pay the bank which is Chase because they are the ones loaning you the money not Circuit City.

    • #286746
      MerrillSab
      Member

      You owe Chase. Circuit City is just the logo on the card. Your debt remains due.

    • #326317
      Anonymous
      Inactive

      Sorry, can’t answer your question but wanted to chime in with a good luck. Same thing is going on here in Florida, and well the State government seems to helpless on doing anything about it. Heard of one guy for $ 75,000 coverage is paying $ 1,800 a year and that is just for mobile home, one other was $ 125,000 she was paying $ 4,000!

      Good luck!

    • #326318
      Anonymous
      Inactive

      Well, THAT house might not have had a claim, but in general, there were TONS of laims in LA! Additionally, there are TONS of court lawsuits pending, and juries are starting to hold regular homeowners insurance policies responsible for damages, even though flood is excluded!! So, the companies have to raise the rates to cover the claims.

      Insurance is all about SHARING LOSSES. So if one guy has a $ 100,000 loss, and 99 other guys don’t, EACH of them can expect the rates to go up $ 1,000 to cover the losses.

      The only consoliation – it’s worse in Florida.

    • #326319
      Anonymous
      Inactive

      The deal is, everyone is trying to file wind claims. Because the majority of people on the Gulf coast do not have flood insurance, this is the only way they could hope to get money.

      The insurance companies began to dispute these claims. Saying the damage was due to flood, not wind. The courts have now begun to mandate the insurance companies to pay, even on some claims that were blatantly flood damaged.

      The insurance companies are terrified that if another disaster like this struck, they would be left to fit the bill regardless of any exclusions (flood) they have in their Homeowner’s policies. So, to defend themselves from potential bankruptcy, they have begun to pull out of the area all together. Your insurance premium is very high, because frankly, they don’t want your business. It’s too much risk for them, thanks to your local court system.

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