Bill Me Later going to Comenity Capital

[bichonmom]

I got an email today that effective 8/29, BML will no longer be WebBank and will be Comentiy Capital Bank. Does anyone know if BML will continue to be a hidden TL or if it will begin to be reported on the CR? 

[shane82388]

Posted earlier...got some responses but nothing definitive.

http://ficoforums.myfico.com/t5/Credit-Cards/Comenity-Taking-Over-Bill-Me-Later/td-p/2403395

[Wolf3]

DW got the letter.    It says BML will continue to service the account, Commenity is the underwriter.

My guess is that BML will continue to set the rules and policies.    I don't think they will change the reporting.   BML biggest advantage is the deferred billing which often keeps the utilization very high.   Reporting the balances would hurt the customers credit score. IMO that negatively impact their main business advantage and profits. . 

I also have  NewEgg account which is a BML service.   I have not gotten any notice about changes there, but likely will soon.    It also has deferred interest deals and does not report.   

[shane82388]

Hmm wonder if they will have pre approvals for newegg while maintaining the hidden trade line?

I was always interested in that account but didn't think if ever be approved since I already have BML so never really looked much in to it...

[bichonmom]

Thanks for the replies! 

I called and spoke w/a rep @ BML. He said that if they do begin to report TLs on CRs, they would notify us like they did about the change to Comenity. Though, there would be nothing we could do about it if they did make the change. Hopefully they'll leave it as is. 

I'm not familiar at all w/Comenity. Hopefully they'll be easy to work with. I've kind of gotten used to BML's little quirks.