@Anonymous wrote: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.
May I ask how closely you applied for these cards together in a certain time frame? As stated if they close my 3 I won't blink an eye as it won't hurt me for a second and still be at 1% utilization and all my other cards would have better apr's although I prefer they remain opened.. Wonder how they are handling AF cards that they close, assume they are refunding them in some method?
Reminds me of when I opened 5 chase accounts within 3 months and withen a couple fo weeks shut all of the accounts down. Banks are well within their rights to do this with consumers. Learned my lesson. Glad your balances are low but may or maynot cause AA with your other issuers.
⋅ INQs: 6
@taxi818 wrote:
@Anonymous wrote:
@CreditCuriousity wrote:Sorry to hear
.. I was honestly really worried about them hitting you with all your recent comenity accounts/approvals in a short time. Did they hit your PCMALL hidden account as well? Sucks to lose that much credit! Hopefully you weren't running balances on any of them if so obviously pay them off as soon as possible
Only pattern I have seen is if you have opened 2 or 3 cards with comenity in a very short period of time within a month or two time frame and usually before card is one month or two months old is the people this happened to
Didn't check PayPal Credit and PC Mall. I'm going to assume those got hit too. At least the new laptop ordered is a on a hidden TL. No significant balances on anything else. Nothing that I can't just PIF today. Even closed the store cards which I've had for coming up on 6 six months in December. No change in profile. Nothing unexpeted showing up on any of my reports. Some of these like Overstock and Carsons get quite a bit of spend on them every month and are PIF. Thank god I have real lenders like Amex, Chase and Cap1. I'm sure this is a too many accounts with them or too many INQ's on the monthly AR but why shut someone down with absolutely no notice or communication with them at all? Or better question if someone is approaching the limit of account or total CL that you're willing to extend then why not just decline on any further applications? If they want a 4506-T me that's fine. But to yank accounts that have good spend and payment history for the past five months along with the new ones. That's just a crappy way to do business. A couple of the TL's haven't even reported yet so I'm assuming when they first report they are going to show closed by lender on the first month. That's going to look fantastic. Is this going to cause issues with my other real lenders?
Op. Banks don't give notice of a shutdown. And this has nothing to do with you. Just imagine. Hello op. We are going to shut all your cards down next week so get ready,( You) Thanks for the warning. Im gonna go max em out before you do it. hehehe. Just does not happen. in no way am i saying you do that. But this is the reasoning behind them not warning you of a shut down.
I didn't see anyone ask for a "warning". Is an email after the fact really too much to ask for??
@CreditCuriousity wrote:
@Anonymous wrote:
@CreditCuriousity wrote:
@taxi818 wrote:
Cc I think you are good. Op had like 12 cards with them. 3 is no big deal. I have 3.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.
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.
Thanks Irish... Just hate seeing things like this as you know it always happens around this time of the year.. As stated it appears it was people that applied for 3-5 comenity cards in a very short period of time like a month or two that are being impacted... Hope you are having a good holiday weekend!
well, since we are talking about a short time frame.. (granted mine are all store cards, not majors with them, and that may have something to do with it), but I got 11 cards with them alone between Feb-May of this year...5 of those were in February alone, 3 on the same day!. So...I think it has to do with a lot more than just a lot of new accts in a short time. Plus NONE of mine were the SCT, HP's for every one of those cards. Remember thats my punishment for my BK, they have never allowed me a pop up, LOL..
Could it still be that it also depends on ones overall credit profile, and if they deem you a risk? Im a prime example of this. Not only did I get 11 comenity cards during that short time frame, but I got a lot more than that with other lenders during the same time frame as well, at least another 10!. But everyone knows my OCD on reporting 1% on ONE card only at all times...so,not really a risk when you PIF before SM cuts, with a 1% reporting.
IDK why some get the axe and some dont, but maybe since I had a S**T ton of their cards before my BK, and a S**T ton after with a perfect history before and after, maybe that plays a role?? Who knows... Im not gonna lose any sleep on their internal algorithm shut down massacre thats happening, and frankly, Ive ony seen a few posts about it. If it was really widespread...the CC section would be nothing but Comenity posts.
I think we shouldnt panic, and start closing the cards just because we think its gonna happen to us, and we dont want all the "closed by credit grantor" all over our reports. I understand that....unfortunately noone has a magic ball to predict their next step. There may also be a lot more shutdowns we just arent aware of either, because maybe posters dont want to post it for whatever reason. Just my 2 cents for whatever its worth...
@someg33k wrote:
@Anonymous wrote:
@CreditCuriousity wrote:
@taxi818 wrote:
Cc I think you are good. Op had like 12 cards with them. 3 is no big deal. I have 3.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.
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.
Agreed.
I have quite a few of their cards but have gotten them over a span of several years. knock on wood, all my accounts are in good shape.
If they were going to shut anyone down for inquiries alone I would think CA would be close to the top of their hit list
and I dont think he has chimed in yet ranting about accounts closed.
no, not CA or even Ron1....It would be me. I have Max INQ on all three CRA....at one point I had 86 I think, and maybe down to 75 now?? LMAO..Ive got far more than either of those two!
Sorry for those going through this.
I got my SG visa and Overstock store card by SCT recently, but I cold appd and was approved for the Orbitz visa.
Hope I can keep these three.