CLOSED! Comenity Wayfair

[pacem_et_libertatum]

Hello All,

Woke up this morning to a "Did you close this account" alert from CK.

Interestingly, after I started reading on MF about all the account closures, I did a review and noticed my Wayfair card hadn't been used in about 2 years so I put a note on my calendar to charge something on it ~ even went looking for flatware on Wayfair ~ but alas, didn't make the purchase in time.

I'm not sure charging on it would have mattered tho', as I believe I've read of closures on accounts with balances.

5 Comenity Accounts - Total Exposure 38,600

Wayfair Account Age 1 yr, 7 mos / 4500 limit 

West Elm, Pottery Barn, J Crew, Overstock all have zero balances and been used in the last 6 mos, but again, not sure if that matters or not.

Ironically, I also woke up to an alert from Experian reading "High Five! ~ Your FICO Score Is Doing Great!"  😣

So, as other posters have recommended, definitely watch your accounts and work on balancing out your exposure!

Speaking of which, I'm not sure how I'm doing in that department as I also have 19,950 total exposure with Synchrony, but these are all well-used accounts (unlike Comenity) so hoping that is considered!

Anyway, good luck, everyone!  I will update if I receive additional closure alerts.

~ Raven

[sccredit]

Same here.  $5k limit gone.  I have only used it once since opening it.  Hasn't been used in over 18 months.  It was my only card with Comenity.  I'm okay with it.  

[pacem_et_libertatum]

Sorry to hear that, sccredit...  Great that you only have one card with them!  

Comenity really helped with rebuilding for me (hence the high exposure), but as mentioned these store accounts don't get much use so a bit of a silver lining that I can just cut up the card now.  Hoping I can keep the others tho' as my UTI has already risen 1%.

[gdale6]

The moral of the story for all these closures is if you are going to have a card sitting around for padding you still have to use it a few times a year or this is very likely to happen. Sorry to hear it OP.

[sccredit]

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@pacem_et_libertatum wrote:

Sorry to hear that, sccredit...  Great that you only have one card with them!  

Comenity really helped with rebuilding for me (hence the high exposure), but as mentioned these store accounts don't get much use so a bit of a silver lining that I can just cut up the card now.  Hoping I can keep the others tho' as my UTI has already risen 1%.

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I was thinking a couple weeks ago I needed to use it or close it.  Been so busy with clients it just never got done.  I understand it from Comenity's standpoint.  Why keep the exposure if it's not being used?  Luckily I don't carry any balances so it only dropped my score 2 points

[sccredit]

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@gdale6 wrote:
The moral of the story for all these closures is if you are going to have a card sitting around for padding you still have to use it a few times a year or this is very likely to happen. Sorry to hear it OP.

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Agreed

[blindambition]

Sorry to hear OP. Comenity and Sync are on a take no prisoners rampage.

[pacem_et_libertatum]

LOL!  Just got a "Don't Forget This Find!" email from Wayfair....

 "The flatware set for you!" 

 Well, I can put it on my Quicksilver if I still want it, I guess! 

Don't really think they thought their approach to closing accounts thru.  Like rubbing salt in the wound, right?

[pacem_et_libertatum]

Yes indeed, gdale6..  Totally agree, a most important point!  Padding shouldn't be relied upon, especially indefinitely.

I can't really complain as it seems only fair when considering I rarely used the card, and also factoring what's happening lately in the world.  Would have been nice to have notice tho'.

[pacem_et_libertatum]

Thanks, blindambition..

Yeah, sure seems that way... I have a about 45% of my exposure with these 2.. Not good.  Hoping great use with Synchrony will keep my sccounts open!