Comenity and Bill Me later confussion

[shane82388]

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@john398 wrote:

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@shane82388 wrote:

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@john398 wrote:

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@takeshi74 wrote:

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@BearsAndTurtlesRtheBest wrote:

Sounds great! It was ironic that they needed to hard pull your credit for approval yet they didnt report to CBs

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Not at all.  BML isn't the only hidden tradeline out there.

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theres new egg too, what are some of the others?

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Newegg IS Bill Me Later. 

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oh so if I already have bill me later theres no HP to get new egg?

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Its Newegg Preferred "Powered by Bill Me Later" or something...so i dont even know if you'd be able to have both or not...I'm sure someone on here has the answer though!

[vagrants]

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@FinStar wrote:

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@john398 wrote:

I spoke to someone at the comsumer relations department just now (1-800-303-1368) they claim they will have to report the bill me later accounts due to federal law

I was actually calling regurading  an Total Rewards caerd but IO thought I sneak that question in, they seem like at that number they are upper level reps with Comenity

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There is Comenity Bank and Comenity Capital Bank - two affiliated entities under the Comenity companies umbrella.  Comenity Bank (previously known as WFNNB) is the mainline private label arm which oversees the card programs for Victoria's Secret, Express, J.Crew, Restoration Hardware, Pottery Barn, etc.  Comenity Capital Bank (previously WFCB) is the "higher-end" private label arm that oversees card/retail programs such as Barneys New York, Bill Me Later, etc.  Usury laws that govern each company is based on the charter where they underwrite each of their private label portoflios.

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Didn't know that, thanks!

[SunriseEarth]

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@navigatethis12 wrote:

There's no law saying a lender has to report anything. However, if they do report, the law says it must be accurate.

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+1.  In fact, that is the whole reasoning behind using GW and PFD letters to improve credit reports.

The advantage of having BML as a hidden TL really is UTIL and possibly AAoA (if your BML is relatively new compared to your other TLs).  If you use their 0% financing deals but the balance is very near your CL, the hidden TL won't negatively affect your UTIL.