Sad to say but Comenity Shut Me Completely Down

[SisterGirl]

Sorry to read about what happened to you. 

I personally only hold one card from Commenity that is really on "life support" as we speak. I wanted the store card at the time I applied because I use to shop there a lot prior to better cards now, but I ended up being approved for the MC. The rewards are okay,  I'd just rather use other cards that give me more benefits that I can cash in on.

All the best to you.

[OMW2_HighAcheiver]

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@gdale6 wrote:

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@baller4life wrote:

I really wish that it was more encouraged here that members should not hold more than 3 or 4 cards from one creditor. Going forward I hope to see less and less board members loading up on cards. 

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I agree with this 100%.

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This ☝

[CreditDrama85]

sorry this happened to you. keep in mind creditors do troll these forums for varous reasons. although you might be sad now IMO they did you a favor. the closed by credit grantor comment really doesn't mean much; its the account history that matters. pay the accounts off and move on.

I realize in this game of credit some believe its better to have the highest limits possible in order to have low utilization but having high limits and low utilization that might otherwise be perceived as high if the limit were lower, has the potential to be catastrophic. Life is unpredictable, could you imagine having even 1 30 day late on all of those accounts at once? my guess is your score would quickly drop 100+ points. not to mention sometime from a DTI perspective, less credit is better.

Everyone has their own way of handling credit; Im just thinking mayble these are some of the points that raised a red flag on AR.

[OMW2_HighAcheiver]

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@CreditDrama85 wrote:

sorry this happened to you. keep in mind creditors do troll these forums for varous reasons. although you might be sad now IMO they did you a favor. the closed by credit grantor comment really doesn't mean much; its the account history that matters. pay the accounts off and move on.

I realize in this game of credit some believe its better to have the highest limits possible in order to have low utilization but having high limits and low utilization that might otherwise be perceived as high if the limit were lower, has the potential to be catastrophic. Life is unpredictable, could you imagine having even 1 30 day late on all of those accounts at once? my guess is your score would quickly drop 100+ points. not to mention sometime from a DTI perspective, less credit is better.

Everyone has their own way of handling credit; Im just thinking mayble these are some of the points that raised a red flag on AR.

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.....aaaaaannd ALL of this ☝👊!

[ddemari]

I agree, my card paying system is very precise. I couldnt allow myself all of the cards I have if I didnt 110% know I would never slip up and have a late reported. but yes I agree, lots of cards with large limits is not good for a few reasons. I was caught up in seeing how high i could make them go but clearly it doesnt really matter at the end of the day. Less cards from them also means less risk of some fraud or whatever. 

[Anonymous]

Ouch. I'm very sorry this happened to you! I know it takes a lot of courage to post this here, but you have done us a service. For the longest time I used to wonder why I couldn't get approved for other Comenity cards, outside of my OS, SG and Barney's. Now I'm glad I didn't. There is a good lesson here about being heavy in Comenity accounts. I'm that way with Sync cards, but many of them have some age. I think people should be cautious with Comenity and not load up on more than 2-3 cards with them. I wouldn't accept any offer from them after seeing this, in fact, I am thinking of closing the ones I have before they have a chance to take AA on me.

[CH-7-Mission-Accomplished]

Comenity is the new Credit One

[Anonymous]

ddemari, thank you for you courage to post this thread. I am sure a lot of members can learn from you. This just a dark cloud that is passing now and you will see the light at the end of the tunnel. We are not perfect and we learn from our own mistakes and these mistakes make us stronger... You will be fine !

[creditguy]

First off there is nothing I can say OP that hasn't already been said, but I am sorry this happened to you. Thanks for sharing it only reinforces my negative view of comenity. What may seem like your loss is actually theirs, good riddance Crapmenity.

Two banks I have learned to avoid after spending years on this forum is BBVA and Comenity. BBVA is just weird and Comenity is weirder. Comenity hands out cards like candy and then acts like a dentist who says you eat too much candy. The SCT is fine for a card or two but they allow people to rack up a dozen cards before they hit the brakes then go overboard and cut off everything. Then they punish good customers with solid histories by treating them like some deadbeat. Man what a business plan they have or lack of one I should say.

Banks like to look for red flags to predict potential trouble with their customers and act accordingly, well I'm looking at Comenity and seeing some red flags, I think there is something going on at Comenity and they have bitten off more than they can chew. I certainly wouldn't feel comfortable carrying one of their cards as one of my main cards. Thanks again OP for sharing.

[Kidcat]

Dayum!  Sorry OP