Comenity Strikes Again

[FinStar]

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@Anonymous wrote:

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@CreditCuriousity wrote:

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@taxi818 wrote:
Cc I think you are good. Op had like 12 cards with them. 3 is no big deal. I have 3.

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I agree overall although a few others only had two or three as well.  Comenity is shooting themselves in the foot with some of this. Agreed OP went a bit overboard w/spree with regards to comenity although others only have 2-3 of their cards and wham....  Prefer to close on my own account then lender possibly doing it for me.. Guess I will just role the dice and hope to be ok.  Threads like this always get me uneasy although they usually die out after a few weeks and who got hit got hit and rest got by fine.  They are certainly not in the holiday mood.

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You're worrying far too much.  These aren't random shut downs.  I'm  sorry for what happened to the OP but he went way overboard with the Comenity accounts. You just can not add 10+ accounts from the same creditor and not expect scrutiny.  Everyone of these Comenity shut downs is related to adding a massive number of accounts via the SCT and egular applications.  You don't need to shut down your accounts anymore then I need to shut down my 3.  

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I agree with Irish.  Also, in the grand scheme of things, it's the forum comunity that represents a small slice of the "Comenity pie" as a whole when it comes to overextending themselves on Comenity cards.  So, as someone mentioned upthread, the majority of individuals outside of this (or other CC forums) likely don't have 10-20 (or more) Comenity accounts.  The writing was already on the wall for many folks with recent CLIs being done via HP and others who had posted their recent Comenity shutdowns.  It was bound to trickle down eventually for anyone that Comenity felt were overexposed.  *shrugs* 

[Imperfectfuture]

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@Anonymous wrote:

 Applied and received a Total Rewards Visa in the amount of $21,000 last Month . My 1st and only Comenity Card which made me a proud member of the so called 300k

club which I made within my 1st year of building credit . I'm feeling pretty good so I applied for a Comenity Red Roof + Visa . DECLINED and give us our Total Rewards Visa Back .. Comenity giveth and Comenity taketh away . . GOD BLESSED THE CHILD THAT HAS THERE OWN MONEY NOT CREDIT .

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Confused, they closed the total rewards?

[CreditCuriosity]

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@Imperfectfuture wrote:

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@Anonymous wrote:

 Applied and received a Total Rewards Visa in the amount of $21,000 last Month . My 1st and only Comenity Card which made me a proud member of the so called 300k

club which I made within my 1st year of building credit . I'm feeling pretty good so I applied for a Comenity Red Roof + Visa . DECLINED and give us our Total Rewards Visa Back .. Comenity giveth and Comenity taketh away . . GOD BLESSED THE CHILD THAT HAS THERE OWN MONEY NOT CREDIT .

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Confused, they closed the total rewards?

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+1 post didnt really make sense...  Kinda what I got from it imperfect

[FinStar]

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@Anonymous wrote:

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@jenrenea wrote:

These random Comentiy closures are scaring me.  I opened a few Comenity using the shopping cart trick in addition to Capital One to start building some credit.  Maybe I should consider closing some of these new accounts before they close them? I'm only guessing that "closed by customer" looks better than "closed by grantor" on a credit report?  

Sorry to everyone getting closed on.  It probably really was too good to be true... opening cards without hard pulls.... getting real credit limits for those of us rebuilding (I'm in the mid 600s across the board, so not great credit by any stretch).  It's just bad business though.  There's no way to put faith in a company like this.  If I didn't think it would tank me, I'd probably close them rather than worrying about them doing it.  Maybe I'm just a drama queen

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I hope someone can chime in on this because I don't know the answer either.  Are other CCCs spooked when they see "closed by creditor" instead of "closed by customer"?

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Probably unlikely unless a manual review is done but then again it depends on your overall profile.  A small number of accounts with the "closed by credit grantor" language over a period of time more than likely would not raise any flags.  8-10 (or more) accounts in a very short period likely would.

[Anonymous]

OAC, can you please clarify for us?

Do you mean that you applied for $300,000 of credit in less than a year and having very little credit history prior to that? I would think that would set forward some very serious red flags. I'm sorry the closure happened in any event.

[Anonymous]

Yes , I did make the 300k club within 1 yr - $21000 Total Rewards Visa . Started with a Credit One Visa Card in the amount of $300 in 10/14 .

[Imperfectfuture]

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@Anonymous wrote:

Yes , I did make the 300k club within 1 yr - $21000 Total Rewards Visa . Started with a Credit One Visa Card in the amount of $300 in 10/14 .

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Is the total rewards visa still open?

[Anonymous]

Comenity Total Rewards Card . CLOSED

[Anonymous]

Cc I think you are good. Op had like 12 cards with them. 3 is no big deal. I have 3.

Dont think this is the case, i only have 3 cards with them not 12, Virgin SIG, Overstock and j Crew, so far Virgin was the only that was closed, still strong with the other 2 accounts, J Crew is just 1.3k so i dont care if get closed but have over 5k on overstock , my overal utilization is very low so it wont do any damage if they go ahead and closed all my accounts, let see what happens.