topic Re: If Comenity shut your brand new card down... in Credit Cards

If Comenity shut your brand new card down...

Anonymous — Wed, 11 Sep 2019 21:03:49 GMT

Did you actually use it to make a purchase?

I am thinking about trying my luck with Comenity as I need some things for my Vitamix, including a 32 ounce container that’s like $140, and that 20% discount on your first purchase with the card at WS would actually be really helpful but the stories of Comenity quickly shutting down their VISA cards makes me wonder if they shut them down even if you made a purchase with it or if they’re shutting down people they think will be totally unprofitable and just have the card to have it.

It would not be the end of the world if it happened but it’s not ideal and since these containers and anything Vitamix are universally expensive, 20% would be great. I am looking at about $400 of stuff all told.

I do not have any history with Comenity and I am just looking for DPs from people who have gotten Comenity majors with lots of credit seeking behavior (I am at 15/24, 10/12, and 4/6), whether they let you keep the card or not, and whether you made a purchase right away or not.

Re: If Comenity shut your brand new card down...

Jnbmom — Wed, 11 Sep 2019 21:10:56 GMT

@Anonymous

I have their IKEA visa card which I used for a BT deal and one store card Wayfair. I never saw any AA, but I didn't open any other comenity cards for that soul reason.

It seems from others past experience, it's when you have multiple store cards and then start getting more than one of their visa cards, that's when they may start closing.

Re: If Comenity shut your brand new card down...

Anonymous — Wed, 11 Sep 2019 21:14:44 GMT

@Jnbmom wrote:
@Anonymous

I have their IKEA visa card which I used for a BT deal and one store card Wayfair. I never saw any AA, but I didn't open any other comenity cards for that soul reason.

It seems from others past experience, it's when you have multiple store cards and then start getting more than one of their visa cards, that's when they may start closing.

Well that’s what I thought too but they shut down @macinjosh like a week after approval for his WS VISA and he doesn’t have any other Comenity either. I did ask him and he said he didn’t make a purchase with the card though so I am curious if Comenity is more tolerant if they see you actually use it.

Re: If Comenity shut your brand new card down...

CreditCuriosity — Wed, 11 Sep 2019 21:18:18 GMT

Your files clean now? Being EQ and Exp? If you decide to apply for it have them both unlocked as comenity aka alliance data will hp one and sp the other.. be a shame if you had one froozen and denied due to that reason and got the HP. I imagine you would be safe if you apply for only ONE of their products, but as with anything in the credit world things can happen. They have always been good to me and i am perfect example if credit seeker and have 20-30 accounts in last 2 years without any AA.. Although could happen. Love my WS Visa BT offers as no other lender can beat them. We have no clue what trips their algorithm to shut down accounts but one thing is known multiple comenity cards in a short time otherwise not alot we know. Really probably comes down to the strength on a persons profile? I have over 500k in personal credit and not a peep or bad thing from them.

Re: If Comenity shut your brand new card down...

FinStar — Wed, 11 Sep 2019 21:16:26 GMT

It has happened for folks having made a single or several purchase or without any activity. In some cases, even before the card got activated. It really depends on how soon their internal algorithm flags the account and manual AA/review takes place. So, a gamble nonetheless.

If I were you, and to avoid aggravation, I would not touch Comenity for a bit. It's not only inquiries but new accounts as well, although most AA correspondence points to inquiries as the culprit.

Re: If Comenity shut your brand new card down...

Anonymous — Wed, 11 Sep 2019 21:18:20 GMT

@CreditCuriosity wrote:
Your files clean now? Being EQ and Exp? If you decide to apply for it have them both unlocked as comenity aka alliance data will hp one and sp the other.. be a shame if you had one froozen and denied due to that reason and got the HP. I imagine you would be safe if you apply for only ONE of their products, but as with anything in the credit world things can happen. They have always been good to me and i am perfect example if credit seeker and have 20-30 accounts in last 2 years without any AA.. Although could happen. Love my WS Visa BT offers as no other lender can beat them.

My BK is still there til next year but my scores are 721-729 now.

I was not planning to app with any bureaus frozen. The only time I leave bureaus frozen is when I’m certain what bureau will be pulled and that blew up in my face when US Bank tried to pull EX back in March so when I go for cards, I unfreeze all of them now.

Re: If Comenity shut your brand new card down...

Anonymous — Wed, 11 Sep 2019 21:23:19 GMT

@FinStar wrote:
It has happened for folks having made a single or several purchase or without any activity. In some cases, even before the card got activated. It really depends on how soon their internal algorithm flags the account and manual AA/review takes place. So, a gamble nonetheless.

If I were you, and to avoid aggravation, I would not touch Comenity for a bit. It's not only inquiries but new accounts as well, although most AA correspondence points to inquiries as the culprit.

How many inquiries do they tend to have a problem with? I have 9 EX, 8 EQ, 9 TU but quite a few are approaching a year in December/January.

It sucks because I really need this stuff. I had three molars pulled and can’t afford dentures or implants so I have to either remove a number of my favorite foods entirely which I won’t do or I need to put my Vitamix to work. Saving money on these expensive items would be nice.

Re: If Comenity shut your brand new card down...

macinjosh — Wed, 11 Sep 2019 21:29:43 GMT

Me dislikes Comenity. Closed before I even got the card. I went for the WS Visa specifically for the BT offers. $0 transfer fees sure are nice. At this point I need to stay in the garden long enough to get a citi simplicity card so I can get a good enough limit and BT all my cards onto it come early March. Ugh!

Re: If Comenity shut your brand new card down...

FinStar — Wed, 11 Sep 2019 21:43:18 GMT

@Anonymous wrote:
@FinStar wrote:
It has happened for folks having made a single or several purchase or without any activity. In some cases, even before the card got activated. It really depends on how soon their internal algorithm flags the account and manual AA/review takes place. So, a gamble nonetheless.

If I were you, and to avoid aggravation, I would not touch Comenity for a bit. It's not only inquiries but new accounts as well, although most AA correspondence points to inquiries as the culprit.
How many inquiries do they tend to have a problem with? I have 9 EX, 8 EQ, 9 TU but quite a few are approaching a year in December/January.

It sucks because I really need this stuff. I had three molars pulled and can’t afford dentures or implants so I have to either remove a number of my favorite foods entirely which I won’t do or I need to put my Vitamix to work. Saving money on these expensive items would be nice.

If you look at some prior Comenity 'shut down' threads, it could be as little as 2-3 inquiries. Again, it's not only the inquiries they're honing in, it's the overall profile which includes new accounts plus anything else that their internal audit review team deems as a risk. So, while the letters may indicate the inquiries killed the Comenity (insert CC name here), it's more than that. It's pretty much a boiler plate response for most AA outcomes.

So, you're welcome to take the risk as you rationalize the purchase or potential savings, but you already know what could happen given such recent new accounts and inquiries (plus the presence of BK). They could care less about scores btw and how well a profile has been groomed over time.

Re: If Comenity shut your brand new card down...

Anonymous — Wed, 11 Sep 2019 21:51:25 GMT

@FinStar wrote:
@Anonymous wrote:
@FinStar wrote:
It has happened for folks having made a single or several purchase or without any activity. In some cases, even before the card got activated. It really depends on how soon their internal algorithm flags the account and manual AA/review takes place. So, a gamble nonetheless.

If I were you, and to avoid aggravation, I would not touch Comenity for a bit. It's not only inquiries but new accounts as well, although most AA correspondence points to inquiries as the culprit.
How many inquiries do they tend to have a problem with? I have 9 EX, 8 EQ, 9 TU but quite a few are approaching a year in December/January.

It sucks because I really need this stuff. I had three molars pulled and can’t afford dentures or implants so I have to either remove a number of my favorite foods entirely which I won’t do or I need to put my Vitamix to work. Saving money on these expensive items would be nice.
If you look at some prior Comenity 'shut down' threads, it could be as little as 2-3 inquiries. Again, it's not only the inquiries they're honing in, it's the overall profile which includes new accounts plus anything else that their internal audit review team deems as a risk. So, while the letters may indicate the inquiries killed the Comenity (insert CC name here), it's more than that. It's pretty much a boiler plate response for most AA outcomes.

So, you're welcome to take the risk as you rationalize the purchase or potential savings, but you already know what could happen given such recent new accounts and inquiries (plus the presence of BK). They could care less about scores btw and how well a profile has been groomed over time.

Nah I put this thread up to try to gauge my risk and it seems very likely that they would shut it down. I don’t want a closed by credit grantor mark on my report. I hardly ever buy the kinds of items that WS sells anyway so it’s not a good long term card for me.

I guess I will just use my Cash Magnet to get some more activity with Amex. Amex said no BCP because they pulled an old score and length of relationship and I don’t have another ~$2600 of spend to be able hit the NFCU Amex SUB and I’m pretty certain it would be a no from Citi paired with a double pull so I’ll just have to go full price.

Re: If Comenity shut your brand new card down...

FinStar — Wed, 11 Sep 2019 22:03:22 GMT

I mean, one thing to consider and for all we know, you *could* be ok. Is there a risk? Absolutely. It just depends on your risk tolerance.

Personally, I want the IKEA Visa and I've also considered the WS as well (thanks @CreditCuriosity 😁). But, given I've just added a few new accounts in the past 24-72 hours, that wish sailed away and I'm ok with that. I'd rather wait (whatever it takes) than risk having AA on all my existing Comenity accounts 😉

Having accounts closed by the lender is really no big whoop honestly. I understand the cosmetic aspect of what a CR might display and I get it's a matter of preference, but with as many accounts as I have (or had), it's never come up in the 30+ manual reviews or conversations that I've dealt with UW including the strictest of lenders.

Re: If Comenity shut your brand new card down...

kdm31091 — Wed, 11 Sep 2019 22:06:29 GMT

I wouldn’t push your luck with the multiple new accounts. You need to stop applying for awhile. Pursue an unrelated hobby etc. you don’t want to see AA from Comenity or anyone else. I do think you’d be at some risk if you applied now.

Re: If Comenity shut your brand new card down...

FinStar — Wed, 11 Sep 2019 22:11:47 GMT

Actually, given the recent approvals and his overall profile + income, he's done pretty good. If this is one of his hobbies, so be it.

To add, it is highly doubtful he'll experience AA from any other lenders in his signature.

Re: If Comenity shut your brand new card down...

Anonymous — Wed, 11 Sep 2019 22:16:54 GMT

Thank you for discouraging me @FinStar! I never would have tried Citi. I thought for sure that their 6/6 rule would kill me on a double pull since EX alone has 6/6.

Yeah, no need to deal with Comenity now.

Re: If Comenity shut your brand new card down...

kdm31091 — Wed, 11 Sep 2019 22:41:59 GMT

@FinStar wrote:
Actually, given the recent approvals and his overall profile + income, he's done pretty good. If this is one of his hobbies, so be it.

To add, it is highly doubtful he'll experience AA from any other lenders in his signature.

Agree his current lenders are probably fine. I just meant if applying for a Comenity card after multiple new inquiries/accounts....that can be a risk.

At the end of the day though, if it's worth the risk, go for it. Worst case scenario the card is shut down and you are at the same place you were before you got the card, except a HP and AAoA ding. If you can live with that risk go for it.

Re: If Comenity shut your brand new card down...

AverageJoesCredit — Wed, 11 Sep 2019 23:19:18 GMT

If you are collecting , i think it would be cool if one had AA from Citi, Sir Barclays and then from Comenity. 😄

Re: If Comenity shut your brand new card down...

Remedios — Wed, 11 Sep 2019 23:24:30 GMT

@FinStar wrote:
I mean, one thing to consider and for all we know, you *could* be ok. Is there a risk? Absolutely. It just depends on your risk tolerance.

Personally, I want the IKEA Visa and I've also considered the WS as well (thanks @CreditCuriosity 😁). But, given I've just added a few new accounts in the past 24-72 hours, that wish sailed away and I'm ok with that. I'd rather wait (whatever it takes) than risk having AA on all my existing Comenity accounts 😉

Having accounts closed by the lender is really no big whoop honestly. I understand the cosmetic aspect of what a CR might display and I get it's a matter of preference, but with as many accounts as I have (or had), it's never come up in the 30+ manual reviews or conversations that I've dealt with UW including the strictest of lenders.

I went looking for threads and jeopardized my most excellent gardening skills in Approvals for nothing ☹

Re: If Comenity shut your brand new card down...

FinStar — Thu, 12 Sep 2019 00:11:04 GMT

@Remedios wrote:
@FinStar wrote:
I mean, one thing to consider and for all we know, you *could* be ok. Is there a risk? Absolutely. It just depends on your risk tolerance.

Personally, I want the IKEA Visa and I've also considered the WS as well (thanks @CreditCuriosity 😁). But, given I've just added a few new accounts in the past 24-72 hours, that wish sailed away and I'm ok with that. I'd rather wait (whatever it takes) than risk having AA on all my existing Comenity accounts 😉

Having accounts closed by the lender is really no big whoop honestly. I understand the cosmetic aspect of what a CR might display and I get it's a matter of preference, but with as many accounts as I have (or had), it's never come up in the 30+ manual reviews or conversations that I've dealt with UW including the strictest of lenders.

I went looking for threads and jeopardized my most excellent gardening skills in Approvals for nothing ☹

LMAO They'll be posted soon. You caught me in the middle of the MF trucks clean up

Sorry @Anonymous for the the thread hijack

Re: If Comenity shut your brand new card down...

Anonymous — Thu, 12 Sep 2019 00:11:58 GMT

Lol it’s all good, we all derail threads. I know I’m certainly guilty of it.

Re: If Comenity shut your brand new card down...

Hex — Thu, 12 Sep 2019 01:49:57 GMT

Saeren you’ve had a great recent run. You’re much braver than I am and it’s paid off. Please consider quitting (pausing) while you are ahead. I hope the penicillin isn’t fogging up your thinking!