I recently ( a few days ago ) did the shopping cart trick for 3 of thier cards. Only the 3 will I use. HSN, NY&CO, and VS. I was approved for them all. I only have 2 hard inquiries on my reports for the last year. One of them will be a year old in November. The other just from a couple days ago. And only those 2 inquires. As I had been trying to grow my credit slowly and wisely.
I will not apply for any others they have because I will never ever use those. There is one other store card I want but it isnt by them and I want it for the discounts but holding off in fear of adding another hard inquiry so soon after the one a few days ago.
But then I was just looking through Comenity Bank posts here on the forum today as I was curious how to set up online account before I get the card, and saw they are closing cards for people with multiple apps close together. Now I am nervous they will do this to me. I only ever apped for the 3 and dont intend to app for more so my question is has anyone been penalized for doing 3 at once? And had thierr accounts closed? I really want these cards for I will use them. Trying to gage what my chances are I will be on thier hit list. Any input from anyone who did 3 all at once would be great.
Thanks in advance.
I wouldn't worry about it either. I think those with their visas are getting hit a bit harder with this. I wouldn't rack up anymore store cards for awhile though.
Thanks Creditaddict and Noxqs
I will try not to worry but wish I had seen those posts first I would have just stuck with one for the time being.
All you can really do is take care of your cards and see what happens. Comenity will probably re-approve you for those cards if they get shut down. They are kind of notorious for that!
I have four promotions on my PayPal credit right now and just opened the Ulta Rewards Mastercard, so I know the nervous Comenity feeling. Both accounts will be PIF in 2 weeks, and I just told myself I'm not going to worry about it. If they shut me down, they shut me down! A lot of the stories I saw were for like 5 cards in 3 months or something like that. Although I'm sure there are data points out there with fewer accounts than that. Bottom line, just manage your accounts responsibly and don't lose any sleep over it
The ones that really run the gamble of a shut down are when you have several rapid-fire openings of the store cards through the SCT. I wouldn't worry about it with just three, especially since you say you'll use them. If you went through and got like 10 of them in a week, then you may need to be a little worried.
Thanks everyone. I did purchase on the day I got the HSN card 9/20.Only that card. The other two I did not. Then I went to look to set up online account thinking I could with my soscial but no go they need my account number which I wont have until I get my card. How long did it take for you all to get your card? I want to make sure my first payment is not late and I worry ( thats what I do ) that the card will take forever and make paying on time be hard. The screen said 7 to 10 days but did anyone have it come faster or slower than that?