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Comenity shutting down Wayfair Credit Card

Grim87
Valued Member

Re: Comenity shutting down Wayfair Credit Card

@MyDataMyChoice - so it won't negatively impact my utilization? Trying to navigate between all the different answers. Wouldn't it still impact overall utilization? Sorry I'm a bit worried, I just got my utilization way down for a Sept mortgage so a bit paranoid LOL

Message 41 of 582
MyDataMyChoice
Valued Contributor

Re: Comenity shutting down Wayfair Credit Card

If you have a a BALANCE on the Wayfair account it won't affect your utilization... until you pay off the balance

 

if you have a 0.00 balance... your overall utilization will change as the card won't be factored anymore into your score. 



+AU on: 2008 Sears MC $2,001 | 2016 SEARS Store Card $2,001 | 2011 Synchrony Home $5,500 | 2003 FNBO Visa $9,900 | 2008 Macys Amex $3,400 | 2008 Kohls $2,000 | 2008 JC Penny $500 | 2016 TJX Mastercard $1,500 | 2018 AAdvantage Aviator MC $5,600 | 2018 HSN $4,500
Member of: Andrews FCU | PENFED CU | SDFCU | Alliant CU | NASA FCU | NWFCU | Ally Bank | BofA | Merrill | Greenwood CU | Elements Financial CU | Ocean State CU | Wells Fargo | Citizens Bank | Chase Bank | RI Credit Union | US Financial FCU
Message 42 of 582
SunriseEarth
Moderator Emeritus

Re: Comenity shutting down Wayfair Credit Card

Well, that's annoying.   I just opened my account with them.   I was hoping to grow the CL a bit more and buy a bookcase for about $1900 using their special financing.   Oh well.  



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Message 43 of 582
ImTheDevil
Community Leader
Super Contributor

Re: Comenity shutting down Wayfair Credit Card

It is pretty crappy that they're still letting people open accounts with them, taking HPs and new account hits, knowing they'll be shut down soon and unusable.



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Message 44 of 582
keyrich08
New Visitor

Re: Comenity shutting down Wayfair Credit Card

My credit limit is $14,500. I don't even want to look at my credit score when they close it. 😭

Message 45 of 582
NotYou007
Regular Contributor

Re: Comenity shutting down Wayfair Credit Card

I highly recommend the Lowes card. Was able to get my limit raised to $5000 once my 2nd statement cut. 

Message 46 of 582
Namaste7
Established Contributor

Re: Comenity shutting down Wayfair Credit Card

Only after showing this account real love, replacing a furniture set, the account would close 😂. While I'll miss the easy CLIs, this probably a good thing.  Comenity took the action that I procrastinated on. I'm now left with one retail account lender.

~~MMXX~~
My Garden Goal: Double NW
Message 47 of 582
MyDataMyChoice
Valued Contributor

Re: Comenity shutting down Wayfair Credit Card

not really wayfair likes it and so do the customers that purchase now till September... they get interest free financing on what they purchase.


+AU on: 2008 Sears MC $2,001 | 2016 SEARS Store Card $2,001 | 2011 Synchrony Home $5,500 | 2003 FNBO Visa $9,900 | 2008 Macys Amex $3,400 | 2008 Kohls $2,000 | 2008 JC Penny $500 | 2016 TJX Mastercard $1,500 | 2018 AAdvantage Aviator MC $5,600 | 2018 HSN $4,500
Member of: Andrews FCU | PENFED CU | SDFCU | Alliant CU | NASA FCU | NWFCU | Ally Bank | BofA | Merrill | Greenwood CU | Elements Financial CU | Ocean State CU | Wells Fargo | Citizens Bank | Chase Bank | RI Credit Union | US Financial FCU
Message 48 of 582
MyDataMyChoice
Valued Contributor

Re: Comenity shutting down Wayfair Credit Card

it will still show as a closed account with a high limit


+AU on: 2008 Sears MC $2,001 | 2016 SEARS Store Card $2,001 | 2011 Synchrony Home $5,500 | 2003 FNBO Visa $9,900 | 2008 Macys Amex $3,400 | 2008 Kohls $2,000 | 2008 JC Penny $500 | 2016 TJX Mastercard $1,500 | 2018 AAdvantage Aviator MC $5,600 | 2018 HSN $4,500
Member of: Andrews FCU | PENFED CU | SDFCU | Alliant CU | NASA FCU | NWFCU | Ally Bank | BofA | Merrill | Greenwood CU | Elements Financial CU | Ocean State CU | Wells Fargo | Citizens Bank | Chase Bank | RI Credit Union | US Financial FCU
Message 49 of 582
Janus
Senior Contributor

Re: Comenity shutting down Wayfair Credit Card

Another reason to add to the list of why not to get Store cards. lol

 

I do find it odd that they would be canceling all those accounts without securing another lender to takover, although i guess they could always go with one of those in house financing companies like Affirm or Klarna. etc.

 

With so many Bank reward cards out there I don't see any perks to having a store specific card, but it seems every place feels the need to offer one.






Message 50 of 582
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