Comenity Tiger Direct Shutting Down - Do not apply

[Anonymous]

Heads up everybody.

I applied for the Tiger Direct card back in January and got a nice SL.

I bought a computer and paid it off before the statement cut.

Long story short, I just received a letter stating they will no longer accept new apps AND will break their relationship with Comenity effective 5/4/15.

Well, my ride was fun but at least when the card is 100% closed at the end of this month,  I'll have a hefty CL $10k reporting on all 3 CRAs for up to 10 years.

Sorry to see you go TD credit card -- it was fun while it lasted --- especially pressing your HOT LUV BUTTON. buh-bye!! 

[jamesdwi]

wonder who they will end up using as a bank. about 4 years ago or so, I had their preffered account though Webbank was an awesome hidden tradeline, they closed that... I propbably staill have an open account with them but can't use it, and Webbank won't PC, its useless... Now they are doing the same with commenity, never got a pre-approved offer so didn't sign up. They are running out of lenders.. Especailly with GE/Syncrony in limbo.  

I do love tiger direct, their wharehouse is about 50 miles away from me, I get standard delivery packages overnight, typically before the sale has posted to my credit card. 

[Anonymous]

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@jamesdwi wrote:

wonder who they will end up using as a bank. about 4 years ago or so, I had their preffered account though Webbank was an awesome hidden tradeline, they closed that... I propbably staill have an open account with them but can't use it, and Webbank won't PC, its useless... Now they are doing the same with commenity, never got a pre-approved offer so didn't sign up. They are running out of lenders.. Especailly with GE/Syncrony in limbo.  

I do love tiger direct, their wharehouse is about 50 miles away from me, I get standard delivery packages overnight, typically before the sale has posted to my credit card. 

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I know  ---- maybe an Amex Tiger Direct card for 5x spend on everything we buy at their site????  I can wish right??? 

[Ron1]

Sorry to hear. I have had the account for a year. I used it once or twice. I got generous credit lines.

Ron.

[Anonymous]

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@Ron1 wrote:

Sorry to hear. I have had the account for a year. I used it once or twice. I got generous credit lines.

Ron.

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Ron -- do you think it would be better to call Comenity to close the account or wait for my CRAs to report as "Closed by Creditor"  - I head it's better for the consumer to close it than the other way around.

[Ron1]

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@Anonymous wrote:

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@Ron1 wrote:

Sorry to hear. I have had the account for a year. I used it once or twice. I got generous credit lines.

Ron.

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Ron -- do you think it would be better to call Comenity to close the account or wait for my CRAs to report as "Closed by Creditor"  - I head it's better for the consumer to close it than the other way around.

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It doesn't matter. Comenity closed Vitacost MC for me last year. I didn't see nay score drop. 

Ron.

[CreditUnionFan]

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@Ron1 wrote:

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@Anonymous wrote:

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@Ron1 wrote:

Sorry to hear. I have had the account for a year. I used it once or twice. I got generous credit lines.

Ron.

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Ron -- do you think it would be better to call Comenity to close the account or wait for my CRAs to report as "Closed by Creditor"  - I head it's better for the consumer to close it than the other way around.

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It doesn't matter. Comenity closed Vitacost MC for me last year. I didn't see nay score drop. 

Ron.

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I erred on the side of caution, and proactively called to request closure when the Vitacost MC program was set to end.

I'm glad I passed on the preapproval last year... I wasn't 100% sure it would be HP-less, and earn 5% with Upromise MC.

I wish these short-lived programs offered an option to strike all mention of the account from credit reports. (sigh)

[Anonymous]

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@Anonymous wrote:

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Ron -- do you think it would be better to call Comenity to close the account or wait for my CRAs to report as "Closed by Creditor"  - I head it's better for the consumer to close it than the other way around.

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Nobody cares if you close the account or if it is closed by the grantor.

Companies go out of business all the time, credit cards get closed.  People have said "Under manual review" it will make a difference.  C'mon, you think the Underwriter doesn't have a brain and have never heard of a company closing its own credit line?  FICO scoring doesn't care, Computer Underwriters don't care, "manual review" underwriters know it better than we do that companies credit lines are closed all the time.

There's no logical reason for a consumer to get blamed for this.  

The "Consumer closed is better" myth is just another Suburban Legend perpetuated by the repetition of bad information and the ominous sounding "Manual Review".

[Anonymous]

balboa - gads you are loosing Tiger Direct and the Amex Costco. May need to go card shopping!

[Anonymous]

Spider. Already got my Tiger replacement. Approved for Serta 6,250 and Care Credit $9,000. :-)