Comenity Account Shutdown

[willwar14]

It might be full account verification, so im curious to see whats in the letter.

[ddemari]

The letter will come in about 3 weeks. When all my accounts were shut down I was horrified at the stack of mail from comenity that appeared one day lol.

[Ysettle4]

Made me login and check my TR account. Still intact thankfully. Quite unusual to have your sinlge account with a creditor closed, citing "high risk". Hopefully the forecoming letter provides a bit more clarity.

[redpat]

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@Ysettle4 wrote:

Made me login and check my TR account. Still intact thankfully. Quite unusual to have your sinlge account with a creditor closed, citing "high risk". Hopefully the forecoming letter provides a bit more clarity.

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Comenity may have done a SP on OP and determined between inq, open CL and new accounts that the OP may not be a profitable customer and reallocated their credit to more profitable clients, who knows.

In most of these cases, too much credit, new accounts and inq are the culprit of these actions,  It may have nothing to do with OP's credit history.

[kdm31091]

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@redpat wrote:

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@Ysettle4 wrote:

Made me login and check my TR account. Still intact thankfully. Quite unusual to have your sinlge account with a creditor closed, citing "high risk". Hopefully the forecoming letter provides a bit more clarity.

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Comenity may have done a SP on OP and determined between inq, open CL and new accounts that the OP may not be a profitable customer and reallocated their credit to more profitable clients, who knows.

I most of these cases, too much credit, new accounts and inq are the culprit of these actions,  It may have nothing to do with OP's credit history.

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Pretty much this. Unfortunately for those who like to collect a lot of cards, lenders can sometimes frown upon it and take action. Don't have to like it, but it is what it is.

[CreditMagic7]

Digging around trying make sense or pinpoint some potential item looks like it may have very well been Inquiries? that tipped the balance for that action.

I read some months back where they were frowning big time over those (of which they do their fair share of contributing to that collection)

But just one single card OP is no more worse for wear and can easily weather this.

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Interesting-data-point-on-Citi-Simplicity-Appr...

We did NOT do the balance transfers during the application - we'll do it once the card arrives. Inquires more than a few - lots(!) for me and more than 10 for her - but note this was her application, my stats have no bearing on this app at all.

Just an observation on inquiries, the first 2-3-4 will ding you but after maybe 5 or 6 there is very little if any effect on your scoring, at least with thicker files (doesn't mean you won't get turned down for a new card, but I think its a secondary factor-reason, not a primary reason-factor). 

[Anonymous]

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@CreditMagic7 wrote:

Digging around trying make sense or pinpoint some potential item looks like it may have very well been Inquiries? that tipped the balance for that action.

I read some months back where they were frowning big time over those (of which they do their fair share of contributing to that collection)

But just one single card OP is no more worse for wear and can easily weather this.

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Interesting-data-point-on-Citi-Simplicity-Appr...

We did NOT do the balance transfers during the application - we'll do it once the card arrives. Inquires more than a few - lots(!) for me and more than 10 for her - but note this was her application, my stats have no bearing on this app at all.

Just an observation on inquiries, the first 2-3-4 will ding you but after maybe 5 or 6 there is very little if any effect on your scoring, at least with thicker files (doesn't mean you won't get turned down for a new card, but I think its a secondary factor-reason, not a primary reason-factor). 

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Agreed, CM7. It would be helpful to know how many EQ inquiries if OP cares to share. No pressure if he does not feel comfortable sharing.

[ddemari]

I agree, I'm thinking it was inquiries.

[Kenny]

Thankful that I just closed my Fuel Rewards card randomly one day. lol

[Anonymous]

Sorry this happened to you pipeguy. Like you, I only have one account with them. I will make sure to check it regularly. Thanks for sharing your story!