topic Re: Big Lots credit limit decrease in Credit Cards

Big Lots credit limit decrease

Ontherise2020 — Thu, 31 Oct 2024 10:45:05 GMT

Hello Everyone,

Just an FYI, I got an alert today that my total credit limit decreased by $3300. Lo and behold, it was Big Lots, and my entire credit limit with them is now $0. I'm not sure if everyone knows that Big Lots closed their stores, so you may get a credit alert. I got mine last night. I am assuming that the next step is to close the account.

Re: Big Lots credit limit decrease

CreditPoor — Thu, 31 Oct 2024 23:20:13 GMT

All of there stores aren't closed. This sound like Comentity shut down the card because something spooked them

Re: Big Lots credit limit decrease

NoMoreE46 — Fri, 01 Nov 2024 01:31:49 GMT

Any issuer would be spooked if the client filed for bankruptcy.

@CreditPoor wrote:
All of there stores aren't closed. This sound like Comentity shut down the card because something spooked them

Re: Big Lots credit limit decrease

FicoMike0 — Fri, 01 Nov 2024 02:00:49 GMT

you'd think the bank would rebrand the card.

Re: Big Lots credit limit decrease

GZG — Fri, 01 Nov 2024 23:30:28 GMT

@CreditPoor wrote:
All of there stores aren't closed. This sound like Comentity shut down the card because something spooked them

looks like you can still apply, as far as I can see

Re: Big Lots credit limit decrease

Scottisthename — Sat, 02 Nov 2024 01:00:24 GMT

Seems specific to you mine is fine they also sent a 15% of coupon today when using the card. there was also a sale this week the company has been bought out of bankruptcy by private equity same company as Ted's.

Re: Big Lots credit limit decrease

visionsdivine — Sat, 02 Nov 2024 04:57:45 GMT

Comenity and Synchrony bank both have the strangest underwriting and risk assessment practices. They represent the majority of store cards and do all kinds of balance chasing, credit limit decreased, and account closures over the most random things. They're all over the place.

They're not a bank to build a longterm relationship with. They're fine for the short term if you have a big purchase at a particular store, but I'd say just use them into the 0% promo or whatever is done and then close the card. Otherwise they'll chew YOU up and spit you out eventually.