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Just slammed by Comenity Bank

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Anonymous
Not applicable

Re: Just slammed by Comenity Bank


@ddemari wrote:

People like OP with pretty high fico's too and this minimal openings of accounts, is really strange. 


I know. I saw on here a little while ago that someone got shut down and it was his ONLY Comenity card. He had high scores as well, and it happened shortly after getting an APR reduction. I thought I read on here awhile back where someone was warning us that Comenity was going to be doing a lot of shut downs this year... makes you wonder why? Perhaps they are trying to weed out unprofitable people (i.e. those that never pay interest or never use the cards) or maybe they over-extended themselves and are trying to reel it back in. Who knows, but it's pretty crappy if you ask me.

Message 11 of 158
Anonymous
Not applicable

Re: Just slammed by Comenity Bank

Sorry to hear OP.  This interesting knowing you were not applying for lots of credit and such.  Let us know what the letter says...

 

Also, we need to start a thread specifically for Comenity closed account so that anyone with AA can post in there.  That  way we can try and see if there are some clues as to why Comenity might be taking such actions...

 

Hang in there.

Message 12 of 158
creditguy
Valued Contributor

Re: Just slammed by Comenity Bank

After reading dozens of negative posts about Comenity on here, I'm thankful I never got involved with them. Their cards are just meh in my opinion, nothing setting the credit world on fire and they seem to have the strangest business practices of any lender. With so many better options out there, just say NO to comenity.
Message 13 of 158
pizza1
Community Leader
Super Contributor

Re: Just slammed by Comenity Bank


@darwin_wins wrote:

I wonder if Comenity looks at the profile, sees too many card because good FICO and says well this person won't be keeping Comenity card as their primary. So lets close the account.

 

 


who knows what they think....and honestly, I think they are a little out of their league. I mean, shutting down your cards out of the blue because they got spooked because you liked them so much you wanted to have another one of thier cards?? I mean even Cap1 lets you have 5 of there main cards, not including their store like Kohls, NM, Saks..

 

Comenity needs to stick to what they do best, and thats.....store cards. Leave the Majors to the real players. 

Message 14 of 158
pizza1
Community Leader
Super Contributor

Re: Just slammed by Comenity Bank


@ecxpa wrote:

At one time there was a lot of talk about AA from Barclays and so far I haven't seen that after opening a ton of cards.  Kind of pisses me off to have a card with a little age and excellent pay record get closed.  Glad I am well diversified with Chase, BOA, NFCU et al.


Yea, Barclays use to be the big bad wolf, and take AA on you if you sneezed wrong, but Comenity??? They just shut you down if they feel like it, and think you shouldnt have anymore credit at all or with them. At least with Barclays they 9/10 will just CLD you, and eventually you cna get the CL back up, where as Comenity, youre done. Closed...then ythey send you preapproval 2 weeks later for the same stupid card, LOL.. 

 

I use to want their majors, but not so much anymore. Ill stick with my store cards I have with them, which is now only 3, I closed all the others. 

Message 15 of 158
ecxpa
Valued Contributor

Re: Just slammed by Comenity Bank

just did a 0% balance transfer for these folks.......gonna miss the old TR Visa at the casino every 3 mos.    Anyone know if they will reopen accts?

Message 16 of 158
EmmaGolden
Frequent Contributor

Re: Just slammed by Comenity Bank


@ecxpa wrote:

Have had a Total Rewards Visa for 2 years; generally PIF or large payments; bal of 1.8K on 13.5K.......out of the blue they closed the account.  No new accts recently except their FRN  card with 6K limit about 2 mos ago.  Card got declined today and I called, they said letter was mailed on 3/17/16.......haven't received it yet.  Anybody else been shut down by these folks?  Current FICO's EQ 730, TU 762, Ex 759


I just checked mine & they shut down my Orbitz. I too have been reading a lot about them closing accts for no reason, so their closing mine is not even a concern since I don't want to deal with an unreliable bank card. I may call tomorrow & close my Red Roof on my own. I don't want to go to use it & BAM. Sorry for what they did to you, hopefully you will rebound with a better bankcard, Not one the shuts you down for no reason & without notice. 

Message 17 of 158
Anonymous
Not applicable

Re: Just slammed by Comenity Bank

Sorry this happened to you OP.
Message 18 of 158
Anonymous
Not applicable

Re: Just slammed by Comenity Bank


@EmmaGolden wrote:

I just checked mine & they shut down my Orbitz. I too have been reading a lot about them closing accts for no reason, so their closing mine is not even a concern since I don't want to deal with an unreliable bank card. I may call tomorrow & close my Red Roof on my own. I don't want to go to use it & BAM. Sorry for what they did to you, hopefully you will rebound with a better bankcard, Not one the shuts you down for no reason & without notice. 


Oh no, not you too! I'm so sorry Smiley Sad

Message 19 of 158
ecxpa
Valued Contributor

Re: Just slammed by Comenity Bank

If they don't reopen the TR Visa.....I think I will shut down the FRN Mastercard.......this is just sleazy to me.

Message 20 of 158
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