@AverageJoesCredit wrote:
@atomicfront, how many of those 11 accounts in a month were Comenity?.
That is alot of new accounts, even by myFico standards
I have 3 Comenity cards. I hadn't had any credit cards in 6 years and sort of got carried away. The Pottery Barn card would be sad to lose with their 12 months 0 interest and my second biggest limit (4k).
Atomic, just continue to use these cards now normally as you would, as in reality if they are going to shut you down not much one can do about it. To be on safe side try to not carry too much balance just in case . Dont know when you got the 11 cards, but i would let them breathe abit before apping again
DeeDee78, I am sorry this happened to you. I am ranking Comenity with Barclays now and its bad business for their retail partners. folks on here work hard to get their credit profiles in tack only to be knocked down. I have two, wayfair and Overstock and I may close mine out after the 1 year mark(if I make it one year :0).NOt sure if the retail partners know this but Comenity has screws loose and it may not end well if they keep doing this(why have th SCT if they are pulling lines)?
@Anonymous wrote:Hello all.....
So the Comenity bus yields its ugly head again. Thank you Humu for referncing the earlier thread. Hopefully that can shed some light. What many here need to understand is that the algorithm that runs comenity is really, really nuts. Even those (supervisors) who work for comenity bank (and comenity capital...2 seperate entities) are blown away by what has (and is) happening. When confronted by enraged consumers...approved me tuesday...closed me thursday...et al....the supervisors arent scripted as to what to say....THEY REALLY HAVE NO CLUE.......its crazy....ie
1...You have few inquiries...yet have high exposure with other creditors...audit=closure.
2...You have numerous inquiries...yet have low exposure with other creditors...audit=closure
3...You have few inquiries...low exposure...great score...but called in too many times for questions or cli requests...audit=closure
To be safe (and no one is really safe).....follow this rule of thumb.
If you have many (or few) inquiries...watch your overall utilization. Comenity is very squemish and will soft pull eq and ex often. If they feel that you may become over extended...they will close your account.
UNLESS YOU MUST>>>>>NEVER CALL....NEVER CALL. Similar to calling Chase's underwriting team (also a nightmare) whenever you call for an issue you will open your account up for review. Examples...
1...cli
2...upgrade from visa to visa sig
3...balance transfer
4...account question
Many of you may consider this supposition....but this is as real as it comes. As Humu refernced I have a good friend (old girlfriend...long story...ugh) who feeds me this info. So..if anyone has a question they want answered...send me a msg here on fico and ill get back to you as best I can (usually 24 hours)
So....best chance of keeping your accounts open...low inqs....low total util....no call ins (cli by luv button only)...magic eight ball.
One last thing....RELAX....they close you down..they close you down. It is OUR lives we lead...and should never be a slave to our credit. Take a deep breath....enjoy your day....go home...and call the ones you love......because in the long run...thats all that really matters.
Be well all.
Gregg
Thank you, Gregg! Really nice to see you
Hummu.....the pleasure is all mine
Be well
Gregg
@Anonymous wrote:Hello all.....
So....best chance of keeping your accounts open...low inqs....low total util....no call ins (cli by luv button only)...magic eight ball.
Be well all.
Gregg
Magic 8 Ball. LoL
So very right 