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Comenity shutting down Wayfair Credit Card

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Regular Contributor

Re: Comenity shutting down Wayfair Credit Card

Yep...I just opened an account a couple months ago and took a hard pull. I feel bamboozled!








Message 91 of 511
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Regular Contributor

Re: Comenity shutting down Wayfair Credit Card

This is a weird situation I have been looking at my online portal nothing on it about the account closing I have a balance right now of $390. I am going to pay it cause I don't want to take a risk of tanking my score more than it might if during the new bank transfer they close Comenity and open a new tl. I hope it's Capital One more than Sync because if Sync takes this I could be shut down.



Things to do in 2020:
1. Pay off and get rid of Credit One.(Pay off done! Now to close it.)
2.Removal of late payments with my mortgage company.(I am currently working on this.)
3.Personal Loan through Navy Federal for payoff of HELOC or mortgage refinance Membership was approved.
Closed Cards/Accounts:
Message 92 of 511
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Frequent Contributor

Re: Comenity shutting down Wayfair Credit Card

Just got my notice today. $14,000 in CL being sent upstate, so to speak. Oh well. I didn't use it much. UTIL is at like 2%, too, so I'm not too bothered. I suppose I could be more anal about AZEO and offset any effect this may or may not have.

Message 93 of 511
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Frequent Contributor

Re: Comenity shutting down Wayfair Credit Card

This is why I don't do store cards. I have been tempted to use the SCT, but didn't want to waste a HP or new acct penalty on a store card that may be closed.

Message 94 of 511
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Member

Re: Comenity shutting down Wayfair Credit Card

I got that too. So you think it had anything to do with the allegations of child trafficking? 

Message 95 of 511
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Regular Contributor

Re: Comenity shutting down Wayfair Credit Card

Doubt it probably just Wayfair not getting along with Comenity.



Things to do in 2020:
1. Pay off and get rid of Credit One.(Pay off done! Now to close it.)
2.Removal of late payments with my mortgage company.(I am currently working on this.)
3.Personal Loan through Navy Federal for payoff of HELOC or mortgage refinance Membership was approved.
Closed Cards/Accounts:
Message 96 of 511
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Member

Re: Comenity shutting down Wayfair Credit Card

Right. I just saw on Facebook where someon said they are moving to MasterCard. Not sure if that's true yet. I guess we'll all find out soon enough.

Message 97 of 511
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Regular Contributor

Re: Comenity shutting down Wayfair Credit Card

That would be nice knock off a store tl and have a revolver reporting. That would actually make sense though because the people who got closed maybe they somehow did not qualify for the Mastercard.



Things to do in 2020:
1. Pay off and get rid of Credit One.(Pay off done! Now to close it.)
2.Removal of late payments with my mortgage company.(I am currently working on this.)
3.Personal Loan through Navy Federal for payoff of HELOC or mortgage refinance Membership was approved.
Closed Cards/Accounts:
Message 98 of 511
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Frequent Contributor

Re: Comenity shutting down Wayfair Credit Card


@Rudy1 wrote:

That would be nice knock off a store tl and have a revolver reporting. That would actually make sense though because the people who got closed maybe they somehow did not qualify for the Mastercard.


 

I'd bet dollars to donuts that if they are moving to an MC, they're doing so with a "regular" bank. Over-under on Capital One being behind it?

Message 99 of 511
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New Visitor

Re: Comenity shutting down Wayfair Credit Card

just got the same email.
Awful
It's going to impact so many in one way or another.
I'm losing 7k in available credit and this will definitely impact future purchases :-(


Message 100 of 511
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