Will Your Store Credit Card Survive The ‘Retail Apocalypse’?
Stroll your local mall and you may spot some empty storefronts where mannequins once stood draped in the latest fashions — possible casualties of what some have dubbed the “retail apocalypse.” Not everyone agrees it’s all doom and gloom for brick-and-mortar stores, but challenges certainly exist. Major retailers have announced plans to close thousands of locations in the U.S., and the final tally for 2017 could number around 9,500 stores, according to projections from Fung Global Retail & Technology, an industry think tank. But just because a store turns out its lights doesn’t mean the end is also nigh for your store credit card. Its fate depends on the retailer’s business plans and decisions made by the bank that issues the card. The better you understand the process, the better you can manage your credit and keep it in good standing. Read more at USA Today.
