topic Re: Comenity Bank - Express Card CC Decrease in Credit Cards

Comenity Bank - Express Card CC Decrease

A1Credit — Wed, 20 Jun 2018 14:10:41 GMT

I received an alert this morning from MyFico. Upon review I learned that my Express Credit Card through Commenity Bank had decreased my credit limit from $750 to $100. I recently used the card after a few months of no activity and paid the balance off before the statement cut. I am sorta upset by it because I do use the card to make a lot of purchases but usually pay the card off. I'm wondering if this adverse action is the result of not making any interest off me as a customer or swip fees.

Re: Commenity Bank - Express Card CC Decrease

Remedios — Tue, 19 Jun 2018 13:16:53 GMT

How many accounts did you open recently?

Re: Commenity Bank - Express Card CC Decrease

A1Credit — Tue, 19 Jun 2018 13:26:54 GMT

@Remedios wrote:
How many accounts did you open recently?

The last two accounts I opened were back in March. Nothing since then.

Re: Commenity Bank - Express Card CC Decrease

HeavenOhio — Tue, 19 Jun 2018 14:02:33 GMT

Are the new accounts with Comenity, or are they with another bank? If they're with Comenity, are they store cards or major cards?

Re: Commenity Bank - Express Card CC Decrease

A1Credit — Tue, 19 Jun 2018 14:09:31 GMT

@HeavenOhio wrote:
Are the new accounts with Comenity, or are they with another bank? If they're with Comenity, are they store cards or major cards?

One is a Discover and the other a Citi bank card. The only Comenity card I have is the Express card.

Re: Commenity Bank - Express Card CC Decrease

Creditaddict — Tue, 19 Jun 2018 23:29:53 GMT

I received notices on about 8 Comenity Cards yesterday they closed for non-activity and the ones they didn't close JCrew, Express, Overstock, They CLD to $100... I literally lost about $200+k in reporting limits with Comenity.

That's one way to clean up! lol

Re: Comenity Bank - Express Card CC Decrease

UncleB — Wed, 20 Jun 2018 14:15:59 GMT

@Creditaddict wrote:
I received notices on about 8 Comenity Cards yesterday they closed for non-activity and the ones they didn't close JCrew, Express, Overstock, They CLD to $100... I literally lost about $200+k in reporting limits with Comenity.
That's one way to clean up! lol

Holy smoke!

Hopefully this is just a one-off and not a sign of the new way of "doing business" for them.

Re: Comenity Bank - Express Card CC Decrease

JR_TX — Wed, 20 Jun 2018 14:17:57 GMT

@UncleB wrote:
@Creditaddict wrote:
I received notices on about 8 Comenity Cards yesterday they closed for non-activity and the ones they didn't close JCrew, Express, Overstock, They CLD to $100... I literally lost about $200+k in reporting limits with Comenity.
That's one way to clean up! lol
Holy smoke!

Hopefully this is just a one-off and not a sign of the new way of "doing business" for them.

I think there’s an onslaught of Comenity threads brewing on the horizon!!

We all better brace ourselves folks!

Re: Comenity Bank - Express Card CC Decrease

Dalmus — Wed, 20 Jun 2018 16:36:11 GMT

$200K over 8 store cards? Whew!

My guess is they are starting to look at the same data points that CapOne has been looking at which lead to unused credit limits being chopped.

I've completely stopped with the occasional CLI request for my JCrew card. I've stopped with with CapOne, too. Too many CC companies are starting to act like Sync and Barclays - Don't need to poke any bears!

Re: Comenity Bank - Express Card CC Decrease

Anonymous — Wed, 20 Jun 2018 17:06:30 GMT

I have only one Comenity card - Overstock - and I haven't used it since February except for the annual charge for Club O. I'm seriously thinking about closing it down if/when I get a good bank rewards card to take up as much of the slack of whatever revolving credit might be lost from closing Overstock as possible.

Re: Comenity Bank - Express Card CC Decrease

minimist — Thu, 21 Jun 2018 02:37:16 GMT

Sorry to hijack but I just checked all of my Comenity accounts and my Overstock which I just fully paid off last week is now showing $0 balance and $0 credit available, does this mean that it will be closed?

Re: Comenity Bank - Express Card CC Decrease

FinStar — Thu, 21 Jun 2018 14:18:29 GMT

@minimist, unless it happens to be a "glitch" on their end with displaying your account information, you'd need to contact them directly to know for sure.

Re: Comenity Bank - Express Card CC Decrease

A1Credit — Fri, 22 Jun 2018 14:45:26 GMT

@minimist wrote:
Sorry to hijack but I just checked all of my Comenity accounts and my Overstock which I just fully paid off last week is now showing $0 balance and $0 credit available, does this mean that it will be closed?

Sorry to hear that and no worries on the hijack. I'm pretty pissed about them decreasing my CL because it wasn't like $750 (it was only $500 when I opened it) was a lot in the first place. Like really, what can I buy with a $100 CL? It's obvious that they are telling me they don't want my business.

Re: Comenity Bank - Express Card CC Decrease

Effielin — Fri, 22 Jun 2018 15:52:00 GMT

I was approved for a Comenity/Wayfair card last month. I bought an office chair and paid it off completely about a week later. I checked on line to make sure payment went through, and it shows my balance as 0 and my available credit as 0...

I sent an online communication asking if my account was closed. I was told it wasn't and credit would become available when payment posted..well since balance was 0, it obviously posted. I was also told there was suspicion of "fraud" in my activities... Guess opening an account, buying something, and paying for it in full "is" pretty suspicious.. duh...

I was going to buy a desk at wayfair next but am writing off this card and bought my desk at Ikea..

Re: Comenity Bank - Express Card CC Decrease

Anonymous — Fri, 22 Jun 2018 15:57:08 GMT

I just posted about this in another thread, the same thing happened to me. I had to send multiple messages and call multiple times to get an answer, most of the CSRs were confused.

One finally told me the same as you. They were holding ALL of my available credit until my most recent payment cleared. Absolutely ridiculous. One of my cards I got my available credit back today for a payment I made on the 15th.

They also said "for your protection, suspicious activity" after I have made no charges on these cards for months and was paying once a month, a bit more than my minimum payment. This month I paid them almost off and they pulled the same thing that happened to you. CSR said "new policy"

Re: Commenity Bank - Express Card CC Decrease

Aspireto850 — Fri, 22 Jun 2018 17:53:48 GMT

WOW

Re: Commenity Bank - Express Card CC Decrease

Aspireto850 — Fri, 22 Jun 2018 18:11:30 GMT

WOW...how rude of them!! LOL

Re: Commenity Bank - Express Card CC Decrease

Anonymous — Fri, 22 Jun 2018 18:15:32 GMT

@Creditaddict wrote:
I received notices on about 8 Comenity Cards yesterday they closed for non-activity and the ones they didn't close JCrew, Express, Overstock, They CLD to $100... I literally lost about $200+k in reporting limits with Comenity.
That's one way to clean up! lol

Wow!!! You took a huge hit ... quite unreal. What does a person do with a $100 limit? Had such limits with Cap1 and I closed them. Gads one gasoline purchase and you could be at 30%+ utilization. Glad I don't have any of their cards or Sync. Used to and closed them. Sorry to hear about your loss

Re: Commenity Bank - Express Card CC Decrease

SOGGIE — Fri, 22 Jun 2018 18:25:08 GMT

I made a decision ages ago to never deal with:

1) Comenity,
2) Synchrony,
3) Cap One,
4) Citi,
5) Barclays

I'm ever so grateful for having made that decision. I don't have any major issues with my current lenders.

Re: Commenity Bank - Express Card CC Decrease

601flyguy — Fri, 22 Jun 2018 19:36:31 GMT

Good list. Im wondering if I should close my comenity cards now...