Comenity shutting down Wayfair Credit Card

[Remedios]

@Dmessina666  I've removed the thread you started since you posted identical statement in this thread.

Please avoid cross posting 

[Anonymous]

Mine just reported closed this morning per credit grantor request with a balance. I wonder how that is going to look to creditors. Hopefully they still update the balance when its pif even though the account is closed. 🙄

[Anonymous]

Mine showed up as closed on EX today as well. 

[M_Smart007]

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@Anonymous wrote:

Mine showed up as closed on EX today as well. 

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[Brian_Earl_Spilner]

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

I hope this doesn't happen to anyone else but mine didn't update as Comenity, but as Company 372BC04784 on September 26th. It was actually reporting my balance from the month before, which caused my Equifax score to go down.

I'm not sure if this was because it looked like a new account or if it looked like I didn't make a payment.

After getting nowhere with Comenity, I disputed online and uploaded my current statement. It took them a week to correct the balance. The other two credit bureaus haven't updated this account.

Losing the special financing was a downfall but messing with my score is making me rethink keeping this card.

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Kind of a knee-jerk reaction, don't you think? They're converting hundreds of thousands to millions of accounts. There's going to be hiccups. In my case, EQ and EX are fine. TU hasn't been updated since July according to Credit Karma, but I suspect that's on TU.

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Just noticed that it looks as if you just opened your card 6 months prior to the big switch. Very odd that they continued this card and closed other long term, high limit cards.  Nothing against you, just an observation. I have seen many state they have had their cards for years but weren't offered the Master. I personally had mine for four years and only one late payment (just after the due date just pure forgetfulness). Wayfair was close to my favorite card since I'd just purchased a house. This just makes me curious as to what their criteria was.

BTW they appear to only be converting 50K according to an earlier post. Mine updated to closed status yesterday.

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I only used it twice. Both times I PIF. Maybe it's tied to number of comenity accounts someone has. I think it was 4 total at that time for me.

[Anonymous]

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

I hope this doesn't happen to anyone else but mine didn't update as Comenity, but as Company 372BC04784 on September 26th. It was actually reporting my balance from the month before, which caused my Equifax score to go down.

I'm not sure if this was because it looked like a new account or if it looked like I didn't make a payment.

After getting nowhere with Comenity, I disputed online and uploaded my current statement. It took them a week to correct the balance. The other two credit bureaus haven't updated this account.

Losing the special financing was a downfall but messing with my score is making me rethink keeping this card.

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Kind of a knee-jerk reaction, don't you think? They're converting hundreds of thousands to millions of accounts. There's going to be hiccups. In my case, EQ and EX are fine. TU hasn't been updated since July according to Credit Karma, but I suspect that's on TU.

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Just noticed that it looks as if you just opened your card 6 months prior to the big switch. Very odd that they continued this card and closed other long term, high limit cards.  Nothing against you, just an observation. I have seen many state they have had their cards for years but weren't offered the Master. I personally had mine for four years and only one late payment (just after the due date just pure forgetfulness). Wayfair was close to my favorite card since I'd just purchased a house. This just makes me curious as to what their criteria was.

BTW they appear to only be converting 50K according to an earlier post. Mine updated to closed status yesterday.

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I only used it twice. Both times I PIF. Maybe it's tied to number of comenity accounts someone has. I think it was 4 total at that time for me.

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Could be. Until Wayfair, I had reservations about anything Comenity related so never had a card with them before. I took a chance on Wayfair simply for new house supplies. I don't think I'll be applying for anything else with them in the future. 

[GApeachy]

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@Anonymous wrote:

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I had reservations about anything Comenity related 

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@Anonymous  sorry you got bit the very first time going with this bank; a lot of ppl did and hopefully creditors will know why the closure happened even 10 yrs. down the road. 

I would say this wasn't Comenity Bank's doings, nor their fault. For some reason Wayfair and Citi dropped this portfolio handled by Comenity but normally the portfolio is transferred from one bank to another, not just dumped. What's different from the norm, Citi may or may not have wanted the portfolio and offered a deal that Wayfair accepted or vice versa.  Either way, it wasn't Comenity that decided to dump us.  You can thank Wayfair.

Not trying to stick up for Comenity though cause they botched it too in their own special way.  Comenity allowed ppl to apply for this doomed card/account up to 30 days (even less perhaps) before the closing of all Wayfair credit accts.  I don't know how something like that can be allowed to happen.  Oversight? Someone sleeping at the wheel?  Whatever the reason it was unprofessional to do so.  There was not a disclaimer posted on the Wayfair site until like two or three weeks before the scheduled closures, apply button still active. (smh!)

Comenity can and should have the hp's and Wayfair accts. removed from anyone's cr if requested.  They can do it, they totally removed my HSN acct. (8 months) when it was transferred to Synchrony and I chose to close before my acct. was acquired.  So they can do it and should do it...esp. for those that were approved after the portfolio was dropped.   Really anyone whose acct. was under the 1 yr. mark should have the choice to keep it reporting or delete it.

[Anonymous]

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@GApeachy wrote:

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@Anonymous wrote:

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I had reservations about anything Comenity related 

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@Anonymous  sorry you got bit the very first time going with this bank; a lot of ppl did and hopefully creditors will know why the closure happened even 10 yrs. down the road. 

I would say this wasn't Comenity Bank's doings, nor their fault. For some reason Wayfair and Citi dropped this portfolio handled by Comenity but normally the portfolio is transferred from one bank to another, not just dumped. What's different from the norm, Citi may or may not have wanted the portfolio and offered a deal that Wayfair accepted or vice versa.  Either way, it wasn't Comenity that decided to dump us.  You can thank Wayfair.

Not trying to stick up for Comenity though cause they botched it too in their own special way.  Comenity allowed ppl to apply for this doomed card/account up to 30 days (even less perhaps) before the closing of all Wayfair credit accts.  I don't know how something like that can be allowed to happen.  Oversight? Someone sleeping at the wheel?  Whatever the reason it was unprofessional to do so.  There was not a disclaimer posted on the Wayfair site until like two or three weeks before the scheduled closures, apply button still active. (smh!)

Comenity can and should have the hp's and Wayfair accts. removed from anyone's cr if requested.  They can do it, they totally removed my HSN acct. (8 months) when it was transferred to Synchrony and I chose to close before my acct. was acquired.  So they can do it and should do it...esp. for those that were approved after the portfolio was dropped.   Really anyone whose acct. was under the 1 yr. mark should have the choice to keep it reporting or delete it.

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Thanks I understand your point but the difference between score when an account reads "closed by guarantor " versus "closed by consumer" is telling. Somehow one of my older cards accidentally reported as "closed by consumer", score went up. Comenity's reporting had the opposite affect. They and Synchrony are two lenders I will stay away from.

[FinStar]

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@Anonymous wrote:

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Thanks I understand your point but the difference between score when an account reads "closed by guarantor " versus "closed by consumer" is telling. Somehow one of my older cards accidentally reported as "closed by consumer", score went up. Comenity's reporting had the opposite affect. They and Synchrony are two lenders I will stay away from.

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Just a point of clarification, any lenders' notation which reads as "account closed by credit grantor" vs "account closed by consumer" has no bearing or impact on credit scores whatsoever.  An item to keep in mind is that report data is fluid so it's fairly possible there were other inherent factors that impacted the score, not the notation.  

[stonedog23]

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@yzerman wrote:

CLI UPDATE Number

For those who received the Comenity MC it appears they are taking into account your past Wayfair history when asking for a cli. I just called 855-823-1001 and navigated through the automated system until I could ask for a cli. The recording asked for income and if I wanted a certain amount. I answered no and received an immediate cli of $1000 going from $3500 to $4500. I had an excellent payment history with Wayfair and my Fico is nothing great in the upper 600's. Seems to be a soft pull, if any, since I have received no alerts. I didn't speak to a live person through the entire process. Hope this helps!

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Thanks, I was able to squeeze another 1K out of them for a CL of 12K.