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3 Comenity Bank Store Cards Closed with 3 days of opening???

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Re: 3 Comenity Bank Store Cards Closed with 3 days of opening???


@Remedios wrote:

This is not specific to just the store cards or Comenity,  some major lenders may do the same thing if there are too many apps in too short period of time. 

 


Most of the time though your gonna hear these nightmare stories from those two Comenity and Synchrony with their AA's.

Message 11 of 35
Established Member

Re: 3 Comenity Bank Store Cards Closed with 3 days of opening???

I just worry they are going to close my existing Comenity accounts now since they closed the new. That would royally mess up my DTI
Message 12 of 35
Super Contributor

Re: 3 Comenity Bank Store Cards Closed with 3 days of opening???


@AMEXican wrote:

@Remedios wrote:

This is not specific to just the store cards or Comenity,  some major lenders may do the same thing if there are too many apps in too short period of time. 

 


Most of the time though your gonna hear these nightmare stories from those two Comenity and Synchrony with their AA's.


Remedios is correct.  Chase, BoA, and BarclayUS are 3 examples of major issuers well-known for closing new cards tied to app sprees. 

 

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Message 13 of 35
Community Leader
Mega Contributor

Re: 3 Comenity Bank Store Cards Closed with 3 days of opening???


@AMEXican wrote:

@Remedios wrote:

This is not specific to just the store cards or Comenity,  some major lenders may do the same thing if there are too many apps in too short period of time. 

 


Most of the time though your gonna hear these nightmare stories from those two Comenity and Synchrony with their AA's.


Chase and Barclay, all the time. Others, too 

Message 14 of 35
Community Leader
Mega Contributor

Re: 3 Comenity Bank Store Cards Closed with 3 days of opening???


@AMEXican wrote:

It looks like they saw it as a red flag and decided to close them all. Although it may look like a red flag I think they shouldn't do stuff like this and be more discipline during the application process. I would be pissed if I got 3 new open credit lines and the bank decides to close them all days after. I say call and file a complaint with a Supervisor and consider if you really want to do business with a company like that.

 

I am not a store card kind of guy in the first place but stories like this is the reason I will never apply for a Store Credit Card, Co Branded (VISA or MC) yes but not store specific credit cards. Mainly because of the way Comenity and Synchrony handle their portfolios. I feel that they are very picky because they are not huge banks but that's the way they do business and I will always decline a store card because of stories like this.


Its not a stores fault nor it being a store card.  It just so happens the algorithms are set to pick up on multiple credit apps especially with same lender. Besides the normal credit seeking  association of multiple apps in short period, its a good idea to check on how a lender is responding to credit apps as weve seen  the differences each year vary. Less chance of throwing away hps if one researches abit before hand though i know hindsight is 20/20Smiley Wink

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2022
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Message 15 of 35
Valued Contributor

Re: 3 Comenity Bank Store Cards Closed with 3 days of opening???


@AMEXican wrote:

It looks like they saw it as a red flag and decided to close them all. Although it may look like a red flag I think they shouldn't do stuff like this and be more discipline during the application process. I would be pissed if I got 3 new open credit lines and the bank decides to close them all days after. I say call and file a complaint with a Supervisor and consider if you really want to do business with a company like that.

 

I am not a store card kind of guy in the first place but stories like this is the reason I will never apply for a Store Credit Card, Co Branded (VISA or MC) yes but not store specific credit cards. Mainly because of the way Comenity and Synchrony handle their portfolios. I feel that they are very picky because they are not huge banks but that's the way they do business and I will always decline a store card because of stories like this.


You know, that's why I'm actually glad that Capital One is taking over the Walmart store card later this year. I currently have two store cards (Walmart and Amazon) as well as Care Credit and PayPal 2% Cashback MC, and that's a little more exposure with one lender than I really feel perfectly comfortable with.

Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO:TU 680 FICO 8 (3/2/19) or 687 FICO 9/EX 694 FICO 8/EQ 685 FICO 8 or 674 FICO 9 (NFCU 3/3/19), VS 3.0 10/17/18: TU 702/EX 699/EQ 698. $92.9k revolving credit as of 1/31/19; $1K NFCU cashRewards Visa, $2K BJ's Perks MC, $5.1k Discover It #1, $6.5k Discover It #2 (new 3/12/18), $3.5k Petal Visa, $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $6k Walmart Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $11.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening: 3 months, 19 days as of 1/31/19. 24 HP inqs total as of 10/12/18: 10 TU, 9 EQ, 5 EX (about half over 1 year old).
Message 16 of 35
Valued Member

Re: 3 Comenity Bank Store Cards Closed with 3 days of opening???


@AverageJoesCredit wrote:

@AMEXican wrote:

It looks like they saw it as a red flag and decided to close them all. Although it may look like a red flag I think they shouldn't do stuff like this and be more discipline during the application process. I would be pissed if I got 3 new open credit lines and the bank decides to close them all days after. I say call and file a complaint with a Supervisor and consider if you really want to do business with a company like that.

 

I am not a store card kind of guy in the first place but stories like this is the reason I will never apply for a Store Credit Card, Co Branded (VISA or MC) yes but not store specific credit cards. Mainly because of the way Comenity and Synchrony handle their portfolios. I feel that they are very picky because they are not huge banks but that's the way they do business and I will always decline a store card because of stories like this.


Its not a stores fault nor it being a store card.  It just so happens the algorithms are set to pick up on multiple credit apps especially with same lender. Besides the normal credit seeking  association of multiple apps in short period, its a good idea to check on how a lender is responding to credit apps as weve seen  the differences each year vary. Less chance of throwing away hps if one researches abit before hand though i know hindsight is 20/20Smiley Wink


They tend to do A LOT more than every other bank. Either way, Synchrony and Comenity will never be in my pocket.

Message 17 of 35
Valued Member

Re: 3 Comenity Bank Store Cards Closed with 3 days of opening???


@joe8185 wrote:

@AMEXican wrote:

It looks like they saw it as a red flag and decided to close them all. Although it may look like a red flag I think they shouldn't do stuff like this and be more discipline during the application process. I would be pissed if I got 3 new open credit lines and the bank decides to close them all days after. I say call and file a complaint with a Supervisor and consider if you really want to do business with a company like that.

 

I am not a store card kind of guy in the first place but stories like this is the reason I will never apply for a Store Credit Card, Co Branded (VISA or MC) yes but not store specific credit cards. Mainly because of the way Comenity and Synchrony handle their portfolios. I feel that they are very picky because they are not huge banks but that's the way they do business and I will always decline a store card because of stories like this.


You know, that's why I'm actually glad that Capital One is taking over the Walmart store card later this year. I currently have two store cards (Walmart and Amazon) as well as Care Credit and PayPal 2% Cashback MC, and that's a little more exposure with one lender than I really feel perfectly comfortable with.


I agree, Capital One is going to do way better handling the Walmart Credit Cards. My wife had a Walmart Card a long time ago but we paid it off and closed it. Might consider getting one in the future now that Capital One is going to be the issuer. Bass Pro and Cabelas are also with Capital One and a few of my buddies love Capial One now.

Message 18 of 35
Community Leader
Mega Contributor

Re: 3 Comenity Bank Store Cards Closed with 3 days of opening???

The key to handling Comenity and Sync is to always PIF your cards so that if they close you down, you dont have to scramble, and diversify lenders. They have their issues as do all banks but they have their place at the credit table imoSmiley Happy
#ChaseCreditCardHobby Enthusiast
2022
!
Message 19 of 35
Valued Member

Re: 3 Comenity Bank Store Cards Closed with 3 days of opening???


@joe8185 wrote:

@AMEXican wrote:

It looks like they saw it as a red flag and decided to close them all. Although it may look like a red flag I think they shouldn't do stuff like this and be more discipline during the application process. I would be pissed if I got 3 new open credit lines and the bank decides to close them all days after. I say call and file a complaint with a Supervisor and consider if you really want to do business with a company like that.

 

I am not a store card kind of guy in the first place but stories like this is the reason I will never apply for a Store Credit Card, Co Branded (VISA or MC) yes but not store specific credit cards. Mainly because of the way Comenity and Synchrony handle their portfolios. I feel that they are very picky because they are not huge banks but that's the way they do business and I will always decline a store card because of stories like this.


You know, that's why I'm actually glad that Capital One is taking over the Walmart store card later this year. I currently have two store cards (Walmart and Amazon) as well as Care Credit and PayPal 2% Cashback MC, and that's a little more exposure with one lender than I really feel perfectly comfortable with.


You got to be kidding me.  During year 2018 i had 2 credit cards moved to capitalone , now Walmart store card as well. Does anyone know how many credit cards your allowed with Capitalone? 

Message 20 of 35
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