The Village Commons Book Store credit card soon will be a thing of the past.

After initiating its credit card program in the fall of 1990, VCB will close all accounts when its credit card program is cancelled at the end of this semester.

Richard Boardman, general manager of VCB, said the reason the credit card is being cancelled is because the program turned out to be a losing proposition.

“There were too many write-offs and debts,” Boardman said. “When we get stuck with too many unpaid charges, it’s time to cancel the credit card.”

He said the target date for the official cancellation is Dec. 15.

He added that not enough people applied for the VCB card because of the many other credit cards available.

The bank which handles the VCB credit card account is First of America in DeKalb.

Jerry Jones, vice president of First of America, said the bank has sent out a mailing to all holders of VCB credit cards.

“We have sent letters to all holders of VCB cards explaining the cancellation,” Jones said. “To those people with good credit standings, we have enclosed applications for an NIU Visa credit card.”

Those who apply for the NIU Visa card and are accepted will have their VCB balance transferred over to the new Visa card account.

“If they choose not to apply for the NIU Visa card, they have the option of paying off the VCB balance and closing their account,” he said.

He said First of America also handles the NIU Visa card account.

“The NIU Visa card is not guaranteed but if people are in good standing they have a good chance of getting one,” Jones said.

He added that there is no annual fee for the NIU Visa card.