topic Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those? in Credit Cards

Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

FindingCycles — Sun, 25 Jun 2023 03:45:51 GMT

I've been planning to apply for the AAA Daily Advantage for a while, but it seems like (at least from reading on here and Reddit) that Comenity often ends partnerships, resulting in the shut down of cards. And of course there's no guarantee that they'll be picked up by another issuer.

With this in mind, I've been thinking it might not even be worth applying.

Is there any data on how long Comenity's partnerships typically last? And also what percentage of cards by Comenity have been picked up by another issuer vs shut down for good?

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

GApeachy — Sun, 25 Jun 2023 12:39:41 GMT

Bread Financial (formally Comenity Bank) has a lot going on and they're shaping up with some big plans. With that said, any card you go after that's being serviced by Bread Financial could end up on the chopping block.

Do a search including JPM Chase. I'd post a link but apparently my others have been deleted so I'll just leave at that.

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

CreditCuriosity — Sun, 25 Jun 2023 12:51:28 GMT

No IMO they aren't worth it.. They kill off most of their partnership cards. You can have a major or a minor for the fact and likely it will be closed within a year or two with a few exceptions or sold to another lender. Every major I have had with them worth a dang seems to have ended relationships within a year. Will not be opening up any comenity cards unless it is something incredible which nothing they offer is.

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

FireMedic1 — Sun, 25 Jun 2023 13:02:37 GMT

^^^^^^^^^^This

If most of the companies send them on their way and go elsewhere is a pretty good sign of red flags. They got to get their act together. Many more compaines out there much better and stable.

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

Guyatthebeach — Sun, 25 Jun 2023 13:40:27 GMT

You bring up a valid point. Is the effort worth the rewards for.any Comenity/Bread backed card? The majority of mine were SP's. The only issue I had was a missed opportunity to earn points when their systems were down and I could not use my Toyota Visa.

If they were to end their relationship with Good Sam, Kay Jeweler, Sportsman Guide, Sportsman's Warehouse, or Toyota, I would not lose a minute of sleep over it. I'd apply for a new with whomever gets the account if my Bread card was not carried over.

Guyatthebeach

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

GApeachy — Sun, 25 Jun 2023 15:07:46 GMT

Depending on the strength of these existing accounts Bread Financial is offering new products with some heavy backing....I hope to keep mine but who knows....https://www.businesswire.com/news/home/20230607005913/en/Bread-Financial-Announces-Refinancing-Commitments

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

FireMedic1 — Sun, 25 Jun 2023 15:32:35 GMT

@GApeachy wrote:
Depending on the strength of these existing accounts Bread Financial is offering new products with some heavy backing....I hope to keep mine but who knows....https://www.businesswire.com/news/home/20230607005913/en/Bread-Financial-Announces-Refinancing-Commitments

They got to make up for what they lost:

“Together with strong free cash flow generation, we believe our balance sheet management actions further increase our financial flexibility and support our continued growth.”

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

GApeachy — Sun, 25 Jun 2023 15:43:25 GMT

@FireMedic1 Bread Financial may have trimmed the fat. https://investors.overstock.com/news-releases/news-release-details/overstock-announces-fourth-quarter-and-full-year-2022-financial/

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

jbelinc — Sun, 25 Jun 2023 16:13:35 GMT

I have lost Comenity cards for many reasons, ended partnerships, company bankruptcies, the account went to collections and they felt like closing some because of the collections. I have had 17 cards with them and I am now down to 2, when Overstock closes I will be down to just Buckle and who knows how long that one will last. HSN got transferred to Synchrony and before they transferred it they cut the credit limit to $100.

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

SouthJamaica — Tue, 04 Jul 2023 13:23:36 GMT

@FindingCycles wrote:
I've been planning to apply for the AAA Daily Advantage for a while, but it seems like (at least from reading on here and Reddit) that Comenity often ends partnerships, resulting in the shut down of cards. And of course there's no guarantee that they'll be picked up by another issuer.

With this in mind, I've been thinking it might not even be worth applying.

Is there any data on how long Comenity's partnerships typically last? And also what percentage of cards by Comenity have been picked up by another issuer vs shut down for good?

I think it's a very valuable card, so I would say yes. If it lasts, it lasts; if it doesn't, it doesn't. It's not the end of the world.

A no-fee card which pays 5% cash back on groceries, and 3% cash back on gas, electric vehicle charging, dining, and travel, is pretty useful in my book.

Its reward system seems to be pretty much stand-alone, since it's only connection to AAA is its paying 3% cash back on AAA purchases.

I have the AAA Travel Advantage Visa, and I think it's probably my most valuable rewards card.

So me, I wouldn't sweat it.

Additional information: (1) After 6 months I applied for a soft pull CLI and was approved despite bad scores and utilization. (2) Some folks, myself included, have been experiencing difficulty with cash rewards redemption function on website.

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

Catbird_Seat — Sun, 25 Jun 2023 19:04:49 GMT

@FindingCycles wrote:
I've been planning to apply for the AAA Daily Advantage for a while, but it seems like (at least from reading on here and Reddit) that Comenity often ends partnerships, resulting in the shut down of cards. And of course there's no guarantee that they'll be picked up by another issuer.

With this in mind, I've been thinking it might not even be worth applying.

Is there any data on how long Comenity's partnerships typically last? And also what percentage of cards by Comenity have been picked up by another issuer vs shut down for good?

Even with non-cobranded CC, there's a risk that a card program can be ended at any time.

Is there a higher risk that a Bread card can be contracted to another issuer, it does seem to inidicate there is.

Do note that cobranded cards move between issuers, it's not unusual.

It comes down to whether or not the rewards outweigh the risk for you.

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

CreditCuriosity — Sun, 25 Jun 2023 19:35:57 GMT

@Catbird_Seat wrote:
@FindingCycles wrote:
I've been planning to apply for the AAA Daily Advantage for a while, but it seems like (at least from reading on here and Reddit) that Comenity often ends partnerships, resulting in the shut down of cards. And of course there's no guarantee that they'll be picked up by another issuer.

With this in mind, I've been thinking it might not even be worth applying.

Is there any data on how long Comenity's partnerships typically last? And also what percentage of cards by Comenity have been picked up by another issuer vs shut down for good?
Even with non-cobranded CC, there's a risk that a card program can be ended at any time.
Is there a higher risk that a Bread card can be contracted to another issuer, it does seem to inidicate there is.
Do note that cobranded cards move between issuers, it's not unusual.
It comes down to whether or not the rewards outweigh the risk for you.

Happens about 20x more with comenity based cards. Can happen with any lender, but comenity it is pretty much guaranteed at some point.

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

GApeachy — Sun, 25 Jun 2023 20:12:45 GMT

@CreditCuriosity wrote:
@Catbird_Seat wrote:
@FindingCycles wrote:
I've been planning to apply for the AAA Daily Advantage for a while, but it seems like (at least from reading on here and Reddit) that Comenity often ends partnerships, resulting in the shut down of cards. And of course there's no guarantee that they'll be picked up by another issuer.

With this in mind, I've been thinking it might not even be worth applying.

Is there any data on how long Comenity's partnerships typically last? And also what percentage of cards by Comenity have been picked up by another issuer vs shut down for good?
Even with non-cobranded CC, there's a risk that a card program can be ended at any time.
Is there a higher risk that a Bread card can be contracted to another issuer, it does seem to inidicate there is.
Do note that cobranded cards move between issuers, it's not unusual.
It comes down to whether or not the rewards outweigh the risk for you.
Happens about 20x more with comenity based cards. Can happen with any lender, but comenity it is pretty much guaranteed at some point.

Well yeah, but they do service 177 cards presently.....greater odds. But Synchrony and Comenity have always had riskier portfolios but it's not always the FI, economics drives decisions for stores/chains/owners and they probably shop around for which FI fits their need at certain points in time. They may not give much notice, sometimes it can be quick like not renewing at last minute.

Remember the debacle with Wayfair allowing for new applicants within 3 months of the Comenity program shutting down? Was it that Wayfair gave short notice? We don't know. But can anyone remember one of the top 15 US Banks doing the same thing? Closing a credit card pdq.... that is without any prior notice or very short notice. USBank shut down apps to their biz cash rewards and replaced it with biz triple cash rewards. I felt very fortunate they didn't leave me hanging or switching my acct over to the replacement.

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

K-in-Boston — Tue, 27 Jun 2023 00:36:59 GMT

My first thought when reading this was echoed just above. When it comes to Comenity and Synchrony, they service so many cards that even with the number of cards moving to other lenders and in some cases being discontinued by the partner completely (Rakuten is a recent example for me), the percentage of their portfolio that this happens to is probably lower than say Amex losing JetBlue and Costco in the past decade. I can think of 3 cards off the top of my head that I have that have been with 3 or 4 lenders over their lifespan; cobranding and servicing contracts aren't open-ended and this happens with all major issuers.

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

AyaMai — Sun, 02 Jul 2023 17:40:38 GMT

I have 4 cards with them including AAA Travel Advantage Visa which is best from them, which I use for gas on road trips at Love's besides Costco and Sam's Club. Haven't had issues with them since I tend to pay my purchases instantly or next day across all my cards.

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

NoMoreE46 — Tue, 04 Jul 2023 17:26:55 GMT

Curious- are they still issuing the reward certificates via paper statements for the SMG Visa @Guyatthebeach ?

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

Guyatthebeach — Tue, 04 Jul 2023 00:48:59 GMT

@NoMoreE46 ,

I got a paper one at the beginning of last year. I have not made enough purchases this year to get one yet. When I get the next one, I'll let you know.

Guyatthebeach

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

NoMoreE46 — Tue, 04 Jul 2023 02:08:34 GMT

Wow, Paper still no way!

Someone tell Comenity/Bread that it will be the Year Two thousand twenty five in less than 18 months. Maybe they can step up the game a tiny bit and send the rewards via this crazy phenomenon known as email.

In all seriousness, I had collected about six $10 rewards certificates back when. I said this paper method with redemption code sucks. Had to say goodbye to my SMG.

I have a suspicion of why this method is still the practice.

Don't lose that slip of paper @Guyatthebeach .

@Guyatthebeach wrote:
@NoMoreE46 ,

I got a paper one at the beginning of last year. I have not made enough purchases this year to get one yet. When I get the next one, I'll let you know.

Guyatthebeach

Re: Is a Comenity card worth it with the frequent ending of partnerships? And any data on those?

sheri45036 — Fri, 20 Dec 2024 20:25:15 GMT

I'm 62 years old and have a lot of credit cards...this is the WORST company to deal with. I made a complaint on the BBB today against them and shut down all 7 cards.