New myfico members and Comenity cards

[Anonymous]

I personally have a Pottery Barn card that I have had for many years, and enjoy the rewards and coupons that come with the card. I think the point to stress is that with any card, you should carefully consider what you are getting into and how applicable it is to your shopping habits and credit situation.  Unless you are at the early stages of rebuilding with limited choices, getting a card because it adds another "notch" in your credit belt is silly.  Regarding Comenity, if the retailer is one you enjoy, and the card fits well with your credit profile, go for it.  Although these boards offer great insight to the credit world, some threads can suck you into apping for things that aren't always appropriate for your personal situation.  Comenity fills a need for many and should be weighed carefully along with all other credit decisions.

[KSK1912]

I have to admit that when i started rebuilding last year, i did not have any positive accounts except one $500 secured card. Comenity cards did help me a lot. When noone was giving me any credit, i was able to add some positive trade lines without a HP (13 to be exact) Looking at my notes, my total CL was $3750 when i opened the cards, and after about 8 months, they are up to $12K. The downside of these cards is, if you do not use them and generate a statement, they will not send any updates to the credit bureaus. So i find myself spend around $10 on the cards i want to send updates to credit bureaus. So at this point, some of the cards are still reporting the opening CL after 9 months because they have not been used yet. SO i have to purchase at least something to generate a statement so the updates are sent to the bureaus. Besides that, there is not much i can complain about. First cli's came at 6 months for the most accounts, and almost 9 months for the better cards such as Buckle and Express. After that, seems like every 60 days. I will probably get one more round of cli's and after that start closing them few at a time. If i would have to do it all over again, i probably would get 2 or 3 accounts and leave it at that. 

[Anonymous]

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@Anonymous wrote:

Wanted to create a post that any of us could add to related to Comenity cards -not to bash Comenity, but to help educate and inform new myfico members.

New members, welcome. It is exciting to see all of the Comenity cards and perhaps even some of you are trying the shopping cart trick and getting excited about it. Having that kind of enthusiasm about building a strong profile is understandable. We all share that enthusiasm in common with you.

One thing I would suggest before applying for any Comenity cards or doing the shopping cart trick is to use the search box at the top of this page and look up "Comenity." 

This suggestion is not to scare you, but to help you make an informed decision.

Many people on this board will tell you that they would have chosen differently and not opened Comenity cards if they had the opportunity to choose differently now.

I have Total Rewards Signature Visa, Good Sam Signature Visa, and Barney's cards myself from Comenity. Although I have not experienced any adverse action (AA) from Comenity, several of the changes Comenity seems to have made in terms of closing accounts or how they handle their customers make me wish I had not applied for these accounts.

I will be very glad when I am able to jettison all three of these accounts from my profile.

New member, I don't want to unfairly bias you against Comenity, but from my vantage point, many of their decisions as a lender lately have seemed disorganized and not customer-focused. I will say that their actions have created fear and uneasiness among a number of members in this community.

I mention this because I want to you make the best and most informed choices possible as a new member.

Please read up on the Comenity threads, and make your choice in whatever way fits you best. Welcome to the community and we are glad to have you!

Others, please add to the thread as you see fit. I hope this helps someone become more informed.

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Nice informative post. Thank you.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
But approvals can give you the same feeling as a dose of drugs, It's Euphoric.

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I've never been addicted to anything, except Coca Cola and I believe this statement is the truth!

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I am with you.  I am addicted to Coca Cola too and MyFico as well.

[Anonymous]

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@Officer737 wrote:

I have 2 Comenity cards, Overstock and Gander Mountain. Both I use but no sweat if they want them both back! I have enough other cards that regular use anyways. 

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Amen.

[Officer737]

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@Anonymous wrote:

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@Officer737 wrote:

I have 2 Comenity cards, Overstock and Gander Mountain. Both I use but no sweat if they want them both back! I have enough other cards that regular use anyways. 

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Amen.

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+1 My Overtsock is almost paid off so no biggie if they want it lol