Comenity Shut Down!

[Anonymous]

They must be on a beginning of the year purge.
SO got approved for AKC Visa and just activated card. Got letter before even using it saying it was shut down for too many inq on his reprot. Funny thing is the INQ's were one more when he applied since one fell off. Add to that the number is nothing compared to me... I think he had 12.

Why approve it if it is too many INQ's just to shut it down a month later?

Sorry OP. Sucks.

[Anonymous]

It is one of the reasons I am closing my Amazon store card soon.

With Syncb and Comenity.... I think one card and that is it. Once you get more than one you hear about this much more. It's hard to find AA situations when ppl only have 1 card with them.

Again... still sucks OP... still sorry.

[Anonymous]

Sorry to hear that texasman! 

The silver lining (if there is one) is that you have an AMAZING profile, so their loss! I would think they would be begging for cardholders such as yourself! As usual, their decisions make no sense.

Chapter 7: Discharged November 2015
Total Revolving Credit Lines January 2016: $2600
Total Revolving Credit Lines January 2017: $148K
11/15 Fico 8: EQ-585, TU-550, EX- 551
01/17 Fico 8: EQ-695, TU-703, EX-673
Advantis CU Siggy Visa $25K, NFCU Cash Rewards Visa $4600> $22K, NFCU CLOC $15K, NFCU Go Rewards Visa $5,500, PenFed Promise Visa $10,500, PenFed Platinum Rewards Siggy Visa $5500, Redi+ Siggy Visa $5K, SPGVisa $4,500>$5250, Cap One Platinum $2K>$4K, Cap One Quicksilver $3K, Good Sam Visa $1800, Discover $1800>$2K>$2300, Lowe's $6K>$17K, Overstock $7K>$7300>$7700, Evine $1K>$5K, HSN $3750, PenFed Thrifty $500, That's right...Credit One Visa is G-O-N-E!

[texasman07]

Totally agree! I love Chase and Citi. Even Synchrony has been great. I have 175k in credit with 1% UTL. Just paid my 48k in student loans 2 weeks ago and waiting for it to report .

[Anonymous]

I just received a letter stating my RediCard will be closing next month as they discontinuing the card. The RediCard website reflects the same info. 

It's odd to me that Comenity does offer a replacement card, i.e. to transfer the account to a new card and keep the account.

Would it look better on my credit report if I close the card before they do, so that it show "Closed By consumer"?

[Anonymous]

@ ClintRyan, thanks for the heads-up regarding the RediCard. I'm not finding the notice on the website (I'm sure I'm in the wrong place lol)! If you happen to have the link, I'd sure like to check it out.

I'm curious as well if I should just close mine before Comenity does to get the 'closed by consumer'.

Sure glad you brought this to my attention my friend!

Chapter 7: Discharged November 2015
Total Revolving Credit Lines January 2016: $2600
Total Revolving Credit Lines January 2017: $148K
11/15 Fico 8: EQ-585, TU-550, EX- 551
01/17 Fico 8: EQ-695, TU-703, EX-673
Advantis CU Siggy Visa $25K, NFCU Cash Rewards Visa $4600> $22K, NFCU CLOC $15K, NFCU Go Rewards Visa $5,500, PenFed Promise Visa $10,500, PenFed Platinum Rewards Siggy Visa $5500, Redi+ Siggy Visa $5K, SPGVisa $4,500>$5250, Cap One Platinum $2K>$4K, Cap One Quicksilver $3K, Good Sam Visa $1800, Discover $1800>$2K>$2300, Lowe's $6K>$17K, Overstock $7K>$7300>$7700, Evine $1K>$5K, HSN $3750, PenFed Thrifty $500, That's right...Credit One Visa is G-O-N-E!

[Anonymous]

That is really odd, I tried looking, and it is hard to find the closing notice.

Here is the link:

https://www.redroof.com/redicard/redicard_visa_credit_card_information/

The financially best thing to do from their(Comenity) perspective would be to offer a replacement account.

[Anonymous]

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@texasman07 wrote:
Just opened my Orbitz Visa Sig. used it for the first time today -Declined!! Called and said I would get a letter . My Express which is 17 years old, TR Visa and FRMC are fine. Why bother sending a card and going through verification wasting time. Just decline and be over it

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This happened to me with the TR Visa in November.  They approved the account, sent the card and closed it in less than 10 days.  When contacted the scripted response gave no info other than wait for a letter.  I immediately shredded the card.  I also shredded the letter when it came, didn't even open it.  I still have Overstock and Victorias secret with them that I rarely use with 0 balances.  If they close them I don't care but so far so good.  I will never seek another card from Comenity and wish that Caesers would change card issuing companies or at least offer an additional card option with another card issuing company since I am a frequent Caesers customer.  Fortunately I have many other major cards to choose from so for that I am thankful.

[Anonymous]

This makes me wonder if I should just leave my J Crew card at the mere 800 limit and use it sparingly just in case this happens to me....yuk...really sucks. Sorry that this happened to you.

[sparklerd34]

I recently closed 4 comenity cards. I used them to rebuild and now i need to get rid of them so they dont bring me down with so many store cards.  they tried everything to get me to keep the jcrew card.  Im on the fence about overstock right now as well. I havent found much that really is amazing with them and they dont match prices which is really odd.