topic Re: Shut down by comenity for adding ONE visa in Credit Cards

Shut down by comenity for adding ONE visa

Anonymous — Thu, 11 Jan 2018 15:36:41 GMT

Let me preface this by saying... I have had a few comenity store cards for years. My scores are all good.. I do have a BK from 2011 but nothing negative since then. I applied for a Williams Sonoma Visa and was approved. I didn't even get to use it ONCE. I saw it report on my credit report as "new account opened, canceled by credit grantor'. I called to see what was up and sure enough.. they closed it for inquiries. The only inquiry I have is from them and a capital one card from two months ago. All I know is, stay far away from comenity. As soon as I pay the $160 I charged to my Zales I will be closing it. What a mickey mouse 'bank'. So glad I didn't try and use it and have to deal with the embarassment of it being declined.

Re: Shut down by comenity for adding ONE visa

Anonymous — Thu, 11 Jan 2018 15:45:45 GMT

@Anonymous wrote:
Let me preface this by saying... I have had a few comenity store cards for years. My scores are all good.. I do have a BK from 2011 but nothing negative since then. I applied for a Williams Sonoma Visa and was approved. I didn't even get to use it ONCE. I saw it report on my credit report as "new account opened, canceled by credit grantor'. I called to see what was up and sure enough.. they closed it for inquiries. The only inquiry I have is from them and a capital one card from two months ago. All I know is, stay far away from comenity. As soon as I pay the $160 I charged to my Zales I will be closing it. What a mickey mouse 'bank'. So glad I didn't try and use it and have to deal with the embarassment of it being declined.

This has been known here for years -- if you have Comenity non-Visa/MC cards, don't get a Visa/MC card by Comenity.

Sorry for your closure, good reminder to folks about it.

Re: Shut down by comenity for adding ONE visa

Anonymous — Thu, 11 Jan 2018 17:19:03 GMT

I have an old Comenity store card didn’t have a problem getting approved for a Comenity visa in the summer.

Re: Shut down by comenity for adding ONE visa

Anonymous — Thu, 11 Jan 2018 17:22:08 GMT

Not sure of the criteria used by Comenity but they do make exceptions to the V/MC rule. I've had the Wayfair and Boscov's cards for a while and recently added the SpGd Visa. Just paid first statement on the Visa and ordered from Boscov's Monday night with no problems.

Sorry about the bad luck.

Re: Shut down by comenity for adding ONE visa

FinStar — Thu, 11 Jan 2018 18:19:13 GMT

As I mentioned on a separate thread, I've added a couple Visa CCs from them in the last year or so, with an existing mix of prior store CCs and Visa/Discover accounts. Thus far, no issues... knock on wood.

I tend to periodically and proactively check to determine whether any foreseeable changes may occur (i.e. SPs from Alliance Data Systems, C/CCB, or alternative reporting bureaus, etc.). I'm fairly certain they have some risk algorithms with specific criteria that flags certain profiles to perform a secondary review. What that is, the specific review process or its frequency is still unknown.

Re: Shut down by comenity for adding ONE visa

AverageJoesCredit — Thu, 11 Jan 2018 18:44:19 GMT

2 inquiries and they shut it down before you can even use it . Ridiculous. Yes those of us on the forum who have been around abit know of this possibilty and obviously you knew it was a risk, but they need to check how they do that. Its not right to close a week , 2 , or even a month later after approval. How many store cards do you have and are they still open?. Thanks sorry to hear about this.

Re: Shut down by comenity for adding ONE visa

Anonymous — Thu, 11 Jan 2018 18:46:52 GMT

I'm wondering about my situation now... I opened a Comenity Ulta MC SL $1500 in October and then added a PayPal credit account SL $5000 around Dec. 1st. No other Comenity accounts. PIF each month on the MC.

It's the reverse- a Comenity MC first, then the store credit. Wondering if I should be concerned?

Re: Shut down by comenity for adding ONE visa

Dalmus — Thu, 11 Jan 2018 19:09:09 GMT

I wonder how many inquiries you have on some of those 2nd and 3rd tier CRA's like ADS? I've seen some people post here that when they checked their reports from some of those agencies, they show and inquiry coinciding with each "SP" prequal they did.

Perhaps that is what they are starting to do?

Re: Shut down by comenity for adding ONE visa

AverageJoesCredit — Thu, 11 Jan 2018 19:09:59 GMT

No clue, just keep eye on your accounts. Paypal credit may soon become Synchrony so thatll be one less Comenity to worry about

Re: Shut down by comenity for adding ONE visa

FinStar — Thu, 11 Jan 2018 19:30:31 GMT

Sure, one less Comenity account to think about in the grand scheme of things as far as PayPal Credit, but I think you're not considering that app-happy individuals still tap the Synchrony well (new accounts, deteriorating profiles and excessive CLI requests) and have been known to trigger AA via the infamous "blue envelope".

Folks just need to be aware about the constantly changing landscape with some lenders and determine their appetite for risk.

Re: Shut down by comenity for adding ONE visa

UpperNwGuy — Thu, 11 Jan 2018 21:01:28 GMT

Ever since I joined this forum, people have been trashing Comenity for the way it treats cardholders, yet people still apply for their cards. Why?

Re: Shut down by comenity for adding ONE visa

Anonymous — Thu, 11 Jan 2018 21:20:31 GMT

I believe it was a combination of BK in 2011 and co-branded card. If they took a risk with you they would at least like for their partners to make some money.

You could have charged on the card at any store, not just the store whose name was on the card. Comenity needs to start looking out more for their business partners.

As for me, I once had 12 Comenity cards while 3 were co-branded. They never shut me down. I got rid of 10 of their cards, including Camping World Visa.

Re: Shut down by comenity for adding ONE visa

Anonymous — Thu, 11 Jan 2018 21:57:30 GMT

I have 2 Comenity store cards and the Williams Sonoma Visa. All three were apped within a 1 week span and this was back in Oct. All three have grown, knock on wood.

Re: Shut down by comenity for adding ONE visa

Anonymous — Thu, 11 Jan 2018 22:09:58 GMT

Comenity does not like inquiries. I only have the Boscov’s card which I hardly ever use. $3500 CL and I’m surprised Comenity hasn’t closed it with all my inquiries. 80 total. 30 on Ex, 30 on Eq, 20 on TU.
I agree that 2 inquiries is a lame reason to shut all your cards down. Synchrony handles it a lot better. At least you get a chance to keep the accounts open via their infamous blue envelopes. Comenity just reacts and that’s the end of it. In the long run maybe you’re better off, OP.

Re: Shut down by comenity for adding ONE visa

AverageJoesCredit — Thu, 11 Jan 2018 23:50:14 GMT

I believe people still app Comenity cards , despite their rep, because.they still want easy credit. It may come down to the "It wont happen to me" syndrome. Same reason why Sync still gets multi apps, when no one else will approve or give you credit that can grow quickly, some may be bound to throw caution to the wind. Just a thought

Re: Shut down by comenity for adding ONE visa

Anonymous — Fri, 12 Jan 2018 00:02:20 GMT

"Ever since I joined this forum, people have been trashing Comenity for the way it treats cardholders, yet people still apply for their cards. Why?"

I only recently started reading the forum, but for me Comenity was the first creditor to give me the time of day with a thin credit file. With FICOs in the middle 700s and no negatives, I got turned down by Discover and a couple of others before Comenity gave me a MC which got the ball rolling for me. I've had nothing but positive experiences with them thus far, but I worry about how often I read posts where AA was taken for mixing store credit with Comenity MCs/Visas.
I'm not one to look my nose down on them, I appreciate their willingness to take a chance on me and even with my Penfed Cash Rewards and US Bank Cash+ cards, I still prefer my Ulta MC from Comenity. If you shop at Ulta and know how to work their rewards system, the card nets a lot of value. Not knocking them, just concerned.

Re: Shut down by comenity for adding ONE visa

Anonymous — Fri, 12 Jan 2018 03:48:48 GMT

@UpperNwGuy wrote:
Ever since I joined this forum, people have been trashing Comenity for the way it treats cardholders, yet people still apply for their cards. Why?

Because they are easy to get when you are rebuilding and they grow pretty quickly. Most everyone who has been shut down has gotten their visa/mastercard product after having store cards. I have 3 of their store cards and haven't had any issues. I got the J Crew and Pottery Barn to over 6k limits before I got bored with it.

Re: Shut down by comenity for adding ONE visa

pipeguy — Fri, 12 Jan 2018 19:02:26 GMT

This was my one and only open account with Comenity (see picture) I have accounts will most all major lenders have not missed an on-time paying to any accounts since 2004-05 when my business closed, yet AFTER Comenity approved me for an APR rate reduction, they closed a perfect record account. No other lender follow suit nor has any lender AA'd me since 2005.

Re: Shut down by comenity for adding ONE visa

FinStar — Fri, 12 Jan 2018 19:05:59 GMT

Was the APR review request initiated by you or automatically assigned to your account?

Re: Shut down by comenity for adding ONE visa

Anonymous — Fri, 12 Jan 2018 19:58:51 GMT

@AverageJoesCredit wrote:
No clue, just keep eye on your accounts. Paypal credit may soon become Synchrony so thatll be one less Comenity to worry about

That's a good thing, because I still need to get around to calling to have Comenity finish shutting down my old Bill Me Later account as I've been interested for a while in possibly applying for the Paypal Mastercard down the line and I can't do that until the records are cleaned up. (That being said, I'm much more interested in the Marvel MC because of its good rewards on bookstore purchases.) I only have one Comenity card - Overstock - and I see no reason to change that.