topic Re: Comenity is closing my Lenovo Preferred Card - Help in Credit Cards

Comenity is closing my Lenovo Preferred Card - Help

ScarlettClone — Wed, 18 Jan 2017 14:13:40 GMT

Questions: Should I ask Comenity to delete this TL from my reports?

If I ask, are they likely to do it?

Is it better to delete the card from my CR instead of having it report as closed by grantor?

Will it do more harm to have it deleted and loose that positive reporting for the last six months?

Background: I applied for a Lenovo Preferred Card in July 2016 to buy a new computer. The CL was too small to use the card to purchase the computer, so I just paid with another card. I have never used this card to for anything. Fast forward to yesterday – I received a notice in the mail stating that the program will end on February 13, 2017 and my card will be cancelled on that date.

I have just started rebuilding in the last 6-8 months and I don’t want this card being closed by the Grantor to have a negative effect on my CR.

Current lines:

Cards: 5/2016 Capital One Quicksilver

7/2016 Lenovo Preferred

8/2016 Amex Delta Gold

I also have student loans and a car loan.

Any help would be appreciated.

Re: Comenity is closing my Lenovo Preferred Card - Help

fltireguy — Wed, 18 Jan 2017 14:32:30 GMT

If you are worried about closed by credit grantor, just call the customer service # and close the card yourself - then it will report as closed by consumer...

They aren't going to delete a valid TL, there is no reason to. Plus, it will help your AAoA for the next 10 years..

It's not going to hurt you, dont worry!

Re: Comenity is closing my Lenovo Preferred Card - Help

Anonymous — Wed, 18 Jan 2017 14:54:02 GMT

I just sent them a secured message yesterday asking that they close my account effective 1/17/2017. I did the same when they dumped Motorola. Reports as closed by consumer. I'm hoping the Wayfair card doesn't suffer this fate as I use it regularly.

Re: Comenity is closing my Lenovo Preferred Card - Help

ScarlettClone — Wed, 18 Jan 2017 15:11:34 GMT

Thank you for your information and advice. I just sent a secure message to have it closed.

Re: Comenity is closing my Lenovo Preferred Card - Help

Anonymous — Wed, 18 Jan 2017 15:16:35 GMT

Also remember the closed by party has no impact on FICO score, only issue might be on manual review, and I'm sure UW are familiar with these cards closing for lots of neutral reasons

Re: Comenity is closing my Lenovo Preferred Card - Help

JayTee1 — Wed, 18 Jan 2017 18:40:40 GMT

Same thing just happened to me. I assume the program is actually ending, or they closed it because I haven't used it for a year (bought a computer, paid it off last June I think, no interest).

Re: Comenity is closing my Lenovo Preferred Card - Help

rlx01 — Wed, 18 Jan 2017 19:27:11 GMT

Closed by grantor means nothing.