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People around here have cooled off on Comenity cards?

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Anonymous
Not applicable

People around here have cooled off on Comenity cards?

Been lurking here for a month or so, decided to sign up and post.

 

So I'm ready to buy my gf an engagement ring, and I'm pretty excited about it. Had planned on waiting until this fall when I get a nice bonus check, but it turns out that in about a month and a half all of her family (including her very ill grandmother) will all be getting together. She is really close to her family, so I would love to do it there around all of them. Buuuut I won't have the cash for the ring until this fall.

 

I've looked at Blue Nile, and I saw lots of posts about people having success opening accounts and getting CLIs quickly. I'd need about $6-7k to cover the balance I don't have cash for, at least until September when I can pay it off. But all of the posts about the Blue Nile Comenity card are at least a couple of years old, with only a few recent mentions of how it's not as good as it used to be.

 

Right now my CreditKarma profile puts me at 715 for both scores, but my Wells Fargo profile says 690. I wasn't great about paying off my student loans right after school, but the last 5 years or so I've done much better. I have two HPs in the last year - one from AT&T when I got my phone (ugh), and one from my apartment when I signed my lease.

 

Current cards:

Wells Fargo Platinum - 8k SL

Chase Sapphire - 5k SL

 

Is the Blue Nile Comenity card a bad idea in 2018? If so, what are my other options? I've also considered just going into WF (where I have banked for 10+ years) and talking to them about options, but I want to limit the number of applications I submit.

 

Thanks,

Message 1 of 25
24 REPLIES 24
Anonymous
Not applicable

Re: People around here have cooled off on Comenity cards?

I don't know specifically about the Blue Nile card. Having one or two Comenity cards isn't a bad thing, providing that they're from stores where you're actually using them, but I'd be very wary both of the so-called shopping-cart trick and of getting a Comenity Visa/Mastercard soon after you get a Comenity store card.

Message 2 of 25
fltireguy
Valued Contributor

Re: People around here have cooled off on Comenity cards?

FYI
WF shows Ex09 version, while CK is a fako and is a useless score

I believe Comenity is using EQ08
NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 3 of 25
pipeguy
Senior Contributor

Re: People around here have cooled off on Comenity cards?

Lots of stories on these forums about Comenity closing accounts for no good reason. If you are looking for a 6 month finance, I'd suggest Blispay which is 0%, $00 payments for 6 months with 2% cash back (19.99 apr otherwise,  which is still way less than Comenity store cards).

 

BTW, you might look at James Allen for your diamond ring, I recently used them for the wife and other than needing some lead time, the quality was A+ - note I used Blispay and not only got $100 cash back but no payment no interest (purchased 12/17, just paid it off). 

Message 4 of 25
Anonymous
Not applicable

Re: People around here have cooled off on Comenity cards?

Good to know. I figured CK was more of a guideline/monitoring service than a real score. Still learning about the various versions of each score.

 

Thanks for the info!

Message 5 of 25
Anonymous
Not applicable

Re: People around here have cooled off on Comenity cards?

Interesting. What happens if they close the account? Like what if I get approved, make the purchase, then they close it? I just owe the full balance immediately?

 

I've looked at James Allen too. I see they use Synchrony for their standard financing option. Haven't heard of Blispay, but I'll look into that too. Right now my biggest concern is not getting approved/not getting a high enough SLI. Then it's just a waste of a hard pull. I'm sure this is always everyone's concern...

Message 6 of 25
pipeguy
Senior Contributor

Re: People around here have cooled off on Comenity cards?


@Anonymous wrote:

Interesting. What happens if they close the account? Like what if I get approved, make the purchase, then they close it? I just owe the full balance immediately?

 

I've looked at James Allen too. I see they use Synchrony for their standard financing option. Haven't heard of Blispay, but I'll look into that too. Right now my biggest concern is not getting approved/not getting a high enough SLI. Then it's just a waste of a hard pull. I'm sure this is always everyone's concern...


If they shut you down you pay on the regular terms but any monthly balance will show 100% utility and a comment "closed by credit grantor" which is really no big deal, but it seems to bug some folks.  

Message 7 of 25
Pikaboo-icu
Valued Contributor

Re: People around here have cooled off on Comenity cards?

Welcome to MyFico and CONGRATS on the pending engagement.

What a sweetheart you are- wanting to include her family! Heart

 

That said, I'm on the other side with Comenity & Synchrony.. I've had great luck with both.

I have 4 cards with each and use them all off & on. IMHO most often it's people that sign up for a lot of their cards & CLI to lower UT or that have a major change in their credit that end up with problems. 

 

Jewelry stores are notorious for giving credit- so hopefully you wont have any issues.

Blue Nile is great for Diamonds but also check out ShaneCo & Jared...

 

Best of luck!!! 

  


Message 8 of 25
Anonymous
Not applicable

Re: People around here have cooled off on Comenity cards?


@Pikaboo-icu wrote:

Welcome to MyFico and CONGRATS on the pending engagement.

What a sweetheart you are- wanting to include her family! Heart

 

That said, I'm on the other side with Comenity & Synchrony.. I've had great luck with both.

I have 4 cards with each and use them all off & on. IMHO most often it's people that sign up for a lot of their cards & CLI to lower UT or that have a major change in their credit that end up with problems. 

 

Jewelry stores are notorious for giving credit- so hopefully you wont have any issues.

Blue Nile is great for Diamonds but also check out ShaneCo & Jared...

 

Best of luck!!! 


Thanks! Yeah there's a local(ish) jewelry store that has been really helpful, Diamonds Direct, and I'd love to buy from them to support the girl who has been super responsive and informative. I just read about Blue Nile Comenity and thought maybe my chances would be better. Prices are more or less the same. The jewelry store does the WF Jewelry Advantage card for their financing, and I've banked with WF for forever, so maybe I have a fair chance there.

Message 9 of 25
HeavenOhio
Senior Contributor

Re: People around here have cooled off on Comenity cards?

Is there any reason not to consider a major card with a nice 0% intro offer? The OP has two major cards with good limits. I think that may position him for options that would be useful both now and in the future.

Message 10 of 25
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