COMENITY ... NOT GOOD

[Anonymous]

THIS BANK CLOSED ALL MY ACCOUNTS WITH THEM...8 TO BE EXACT......ALL WERE REPORTING ON CRB'S..NOW THEY WILL HAVE {CLOSED BY GRANTOR}...HOW DOES THIS EFFECT MY SCORES AND SUCH? CAN I GET THEM DELETED BY CONTACTING/FILING A COMPLAINT WITH FTC AND CPFB...ANY ADVICE PLEASE....CLOSED BY GRANTOR ON 8 FILES IN UNACCEPTABLE, UNFAIR DECEPTIVE CREDIT PRACTICE IMO....HELP PLEASE

[CreditMagic7]

Did you go on a Comenity spree and added most of those in a short time frame?

Once Upon A Time it didn't matter at all but over the past last year they are aggressively striking down card accounts added in short order along with measuring the amount of EQ Inquiries added in a short space too.

[Anonymous]

yes....all in a month....I had them in my possesion, used 3 and PIF just a week ago....whats it gonna do to my CB

[creditguy]

Filing a complaint will get you nowhere if the information is accurate and if Comenity closed your accounts then it's indeed accurate. The closing by you or them reporting makes no difference and has no affect on your scores solely, now if it affects your overall utilization then you could see a score change.

It's tough to have something like this happen, but if you search this forum, you will find a treasure trove of Comenity stories littered with broken dreams and closed accounts. What's done is done, all you can really do is move on and chalk it up to a life lesson, in the end your better off without Comenity.

[Anonymous]

ITS NOT GONNA HURT MY UTILIZATION....IM IN GREAT SHAPE THERE......AS LONG AS IT DOES HURT ME, CREDIT WISE AS IN ANOTHER COMPANY GETTIN SPOOKED BY THE CLOSED BY GRANTOR, IM GOOD...

[Discover2016]

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@Anonymous wrote:

THIS BANK CLOSED ALL MY ACCOUNTS WITH THEM...8 TO BE EXACT......ALL WERE REPORTING ON CRB'S..NOW THEY WILL HAVE {CLOSED BY GRANTOR}...HOW DOES THIS EFFECT MY SCORES AND SUCH? CAN I GET THEM DELETED BY CONTACTING/FILING A COMPLAINT WITH FTC AND CPFB...ANY ADVICE PLEASE....CLOSED BY GRANTOR ON 8 FILES IN UNACCEPTABLE, UNFAIR DECEPTIVE CREDIT PRACTICE IMO....HELP PLEASE

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Yea I believe you added too many comenity accounts at once and they bolted. Not only that, but I have read some of your recent posts and you have been on a crazy app spree in the last 2 weeks or so?

[Anonymous]

Comenity is know for this......and tbh, I see why they were spooked. I think any creditor should be spooked with that many cards in that short timeframe. 

[CreditMagic7]

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@Anonymous wrote:

yes....all in a month....I had them in my possesion, used 3 and PIF just a week ago....whats it gonna do to my CB

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I wish you could have researched this forum first before going to that extreme.

Yes, they will approve left and right for a ton of new cards but with that many all at once in that short of time they have a new policy in place where they now swoop in and close them all leaving you with what you just experienced.

Learn from this and move on. You see just how fast it can go south and waste your HP's, efforts, and tag out your credit reports with multiple CLOSED BY LENDER in the end.

[Anonymous]

Yep, a learning experience fo sho......MY FEAR IS THAT THIS BEHAVIOR BY THEM WILL HAVE AN ADVERSE EFFECT ON MY CB..........WITH CLOSED BY LENDER.ON 8 ACCOUNTS? ANYONE KNOW EXACTLY WHAT I CAN EXPECT? ANYON EVER EXPERINCE THIS?

[Anonymous]

ONLY 1 WAS A HARD PULL...7 OTHERS WERE ON THE SCT