topic Re: Classifying Comenity Bank and Comenity Capital Bank separate or together? in General Credit Topics

Classifying Comenity Bank and Comenity Capital Bank separate or together?

sarux3 — Fri, 13 May 2022 12:45:31 GMT

So I have an odd question that I hope someone may be able to answer. As a data-driven kind of person, I manage and analyze my credit holdings in a number of different ways, and one of the things I track is debt held and credit exposure by lending institution. For instance, I look at the distribution of my overall revolving credit lines by lender (Synchrony has XX%, PenFed has YY%, etc.). For the purposes of this kind of exercise, should I consider accounts held by Comenity Bank alongside from those held by Comenity Capital Bank as a single entity, or are those lenders distinct enough that I should categorize them separately? If it's the latter, I would group my current holdings as CB = {Jared, Victoria's Secret, JCrew, ALL Rewards} and CCB = {IKEA Projekt, B&H Payboo}.

Re: Classifying Comenity Bank and Comenity Capital Bank separate or together?

FinStar — Fri, 13 May 2022 13:45:29 GMT

Bread Financial = Alliance Data Systems = Comenity Capital Bank/Comenity Bank.

Single entity, not separate "holdings".

Re: Classifying Comenity Bank and Comenity Capital Bank separate or together?

sarux3 — Fri, 13 May 2022 14:18:36 GMT

@FinStar wrote:
Bread Financial = Alliance Data Systems = Comenity Capital Bank/Comenity Bank.

Single entity, not separate "holdings".

Thanks. So there's no functional reason that I might want to consider my group of Comenity accounts separate from my group of Comenity Capital accounts? I currently treat it all as a single entity in my spreadsheets.

Re: Classifying Comenity Bank and Comenity Capital Bank separate or together?

FinStar — Fri, 13 May 2022 14:22:25 GMT

@sarux3 wrote:
@FinStar wrote:
Bread Financial = Alliance Data Systems = Comenity Capital Bank/Comenity Bank.

Single entity, not separate "holdings".
Thanks. So there's no functional reason that I might want to consider my group of Comenity accounts separate from my group of Comenity Capital accounts? I currently treat it all as a single entity in my spreadsheets.

Correct. I'm not sure about your functional approach but your overall exposure is considered across all Comenity accounts. They are not separate.

Re: Classifying Comenity Bank and Comenity Capital Bank separate or together?

Brian_Earl_Spilner — Fri, 13 May 2022 14:44:04 GMT

Can you clarify the reason for this? Why are you looking to qualify them as separate entities? Are you trying to separate them as different arms, similar to Citi and Citi Retail for some reason?

Re: Classifying Comenity Bank and Comenity Capital Bank separate or together?

sarux3 — Fri, 13 May 2022 17:46:43 GMT

@Brian_Earl_Spilner wrote:
Can you clarify the reason for this? Why are you looking to qualify them as separate entities? Are you trying to separate them as different arms, similar to Citi and Citi Retail for some reason?

Oh, just for personal considerations. I keep a running distribution of my revolving account information by lender so that, for example, I could easily look at this one chart and see that a third of my overall credit exposure is held by Synchrony, or that I'm utilizing 10% of all my credit held by PenFed. So I have all my Comenity accounts as a single entity, and I was just wondering if it would make sense or not for me to consider CB and CCB separately. I hadn't yet thought of splitting Citi and Citi Retail (mainly because I don't have any legacy at the moment), but yes it would be akin to that. If it doesn't make sense then I carry on as I have been and can save myself a tiny bit of work. Thanks for your input!