Comenity Bank close all my Visa/MC Accounts

[gdale6]

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@Anonymous wrote:

Hi All

Thanks for the condolences guys  

I am going to wait for the letters and see what they are talking about.

I will keep you updated

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Yes please do. Thanks and welcome to myFico

[Anonymous]

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@JSS3 wrote:
It's starting to feel like Freaky Friday around here with these reports of Synchrony and Comenity AA(adverse action). They're tricking instead of treating!

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I agree.This is starting to get really weird. I app'd for many cards only after I was approved for a mortgage. I never app'd before because I didn't want to risk not being able to purchase my house. Now people are getting accounts closed due to inquires. Well I'm sitting at 17 across the board mostly from the house. This makes me nervous!

[ddemari]

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@Anonymous wrote:

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@JSS3 wrote:
It's starting to feel like Freaky Friday around here with these reports of Synchrony and Comenity AA(adverse action). They're tricking instead of treating!

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I agree.This is starting to get really weird. I app'd for many cards only after I was approved for a mortgage. I never app'd before because I didn't want to risk not being able to purchase my house. Now people are getting accounts closed due to inquires. Well I'm sitting at 17 across the board mostly from the house. This makes me nervous!

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your more than likely fine. I have double that amount of inquires and no real estate to be used as value. just pay your cards and do what you do. 

[Anonymous]

I hope so. Thanks for the encouragement.

[redpat]

Geez, they might be taking a use it or lose it mentality, who knows.

64k exposure with very little use, maybe you are not a money maker for them and consider you deadwood rather than risk.

Sometimes they may reallocate their portfolio and lines.

Good luck what ever happens.

[UncleB]

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@redpat wrote:

Geez, they might be taking a use it or lose it mentality, who knows.

64k exposure with very little use, maybe you are not a money maker for them and consider you deadwood rather than risk.

Sometimes they may reallocate their portfolio and lines.

Good luck what ever happens.

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This is definitely a possibility. 

I have a $7k+ credit line with Lowe's, and there's honestly no way I'll ever come close to using that, or even a fraction thereof.  I've made one $60 purchase in the last two years, and while I like having the 'cushion' in my utilization the purpose of providing a credit line is for it to be used, not to provide us with a 'cushion' or (especially) stroke our egos.  (I'm as guilty as the next guy for desiring both.)

In my own case, I wouldn't be surprised one bit if at some point Synchrony simply decides to 'reallocate' part or all of my credit line to customers who will use it.  As lousy as it would be, it wouldn't be completely unexpected.

It very well could be Comenity is thinking along similar lines, but I prefer to hope we're just missing something...  

[Anonymous]

I just closed Express,JCrew,Buckle tonight. All @$250 and only had for a few months. Realized I need to be realistic that I won't ever use them and need to just keep what I will use. It felt good. Barclay Arrival+ here I come. Got all with the SCT and tried numerous times with no credit increases.

[Anonymous]

Forgot to mention that today I decided to freeze all 3 just in case one talks to another.

[Anonymous]

Wow this is interesting. I have had nothing but CLIs from comenity but sychrony has closed two of my accounts called rep said he had no idea i should get letter. I received one letter today it was the same lingo most creditors use expect the only thing and I kinda already knew was high utilization this summer. Sorry to hear about this and I sincerely hope it works out for the best for you.

[Anonymous]

Hi... They have no business of how we use the limit they approve us for as long they make their change and we pay the bill on time. If they think I am a high risk then they should not have giving me that much of a limit. So it's ok to go spend 12k at OS but it's not ok to spend it on TW Card. I don't understand the logic. I am still swimming in an open water here till I get them letters