Comenity shutting down Wayfair Credit Card

[rostrow416]

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@Iwpal7 wrote:

@WavysMommy I understand that but if you're offering your old customers Mastercards, why have different rewards (3% on home furnishings? really? How often is that going to be applicable?) from the folks you make take a hard pull for the Citi version. Everyone should have the same card rather they reapplied for one or were converted to one. IMO

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The old Wayfair cards were issued by Comenity bank.  Wayfair and Comenity's contract ended, so Comenity (the backer of the credit accounts) issued Comenity MasterCards to replace the former Wayfair Store card.

Wayfair made a new deal with Citibank to back their new cards (both store and MasterCard versions).

The accounts really belong to the issuing banks and not the store.  This is why there are the different cards.

[SunriseEarth]

Went to Wayfair to see if i prequalify for the new Citi Wayfair card.  I did, but it didn't say which one.  Not sure yet if I'll pull the switch, but I might just out of curiosity.  

Still no Comenity MC for me.  I tried calling the Comenity MC number to see if I could be found by SSN, and no luck.  Was also unable to log into the new site using the old Wayfair credentials.  I was able to log into the old site without issue.   So I'm not feeling too optimistic about an offer from Comenity, which is a shame.  

[WavysMommy]

@yzerman  That's what I was thinking. To appease the old Wayfair customers. The main reason most folks used Wayfair credit was the 0% financing. Nothing more, nothing less.

A lot of folks here were already jumping to close their accounts before it posted as closed by lender, so this will maybe keep them appeased if they were chosen for the Comenity conversion.

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[RickNATL]

This is a Comenity card.  My assumption, based on previous threads, some folks were dropped from Wayfair CC before the transition, and some were held on to by Comenity. I assume if I want a Wayfair card now, I have to go apply at Citi, which is not happening.

[Anonymous]

@SunriseEarth  Can you post a screenshot of what your preapproval said? This is what I got..

[RickNATL]

In addition, the offer is not bad...1.5% and statement credit. I have no intention to buy furniture anytime soon.  

[mxp114]

For educational purposes, can someone summarize what happened here? 43 pages is a lot to read. So far I think select accounts were sent to Citi to get the private label or MC version? While others were closed or chose to close? And some are getting the Commenity MC offer? Always curious how retailers and issuers handle these transitions. Thanks.

[WavysMommy]

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@mxp114 wrote:

For educational purposes, can someone summarize what happened here? 43 pages is a lot to read. So far I think select accounts were sent to Citi to get the private label or MC version? While others were closed or chose to close? And some are getting the Commenity MC offer? Always curious how retailers and issuers handle these transitions. Thanks.

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@mxp114 That's it, in a nutshell.

[mxp114]

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@WavysMommy wrote:

@mxp114 That's it, in a nutshell.

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Interested in the specifics. Which accounts were sent to Citi? Was this opt-in or opt-out or did Comenity and/or Citi designate accounts to transfer over? Were any converted from private label to Mastercard during the process? And of the accounts that stayed with Comenity, were they auto-converted into the Comenity Mastercard? 

[CreditBloke]

Can't sign into the Comenity MC page to manage my account. I can still sign into the Wayfair Comenity manage my account page. No notification email as to if my account will be transferred. So I have a feeling it will just be closed!