!!!Commenity Accounts To Be FR'ed in 2016!!!

[ddemari]

Comenity makes it way to easy for people to load up on their cards. Granted the normal person doesn't hit up sportsmanship guide, FRN, camping world, virgin America,
Orbitz, etc all in one evening but for some if they did the opportunity is there to take the offers for all those cards. I have a large exposure with comenity but nothing I couldn't live without.

[Anonymous]

As I have stated prior...when I get the memos I will post...hopefully yielding more clarity...just wanted to be a bit proactive and let people know what's been going on with commenity....

P.S. never let one card or issuer own your soul. I learned this through amex many years ago.

Gregg

[Imperfectfuture]

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@Anonymous wrote:

A financial review for two crappy accounts I've never used? Three guesses what my response would be. 

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First two do not count?  

[Anonymous]

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@Anonymous wrote:

Comenity is really shooting themselves in the foot here. They don't realize (perhaps nor do they care) that most of us have far better cards and that word gets around quickly about a bank that does not treat its customers well.

I wasn't referring to word getting around solely within the myfico community -  I meant that most of us have a number of professional business colleagues with whom we might share our opinion of Comenity as well.

Consumers have choices of where to conduct business in terms of banks, and word of mouth from trusted professional colleagues goes a long way.

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Hey Hum!

If Comenity is suffering financially because of overextedning themselves, then I think it's a smart idea. I would rather have the opportunity to prove that I can pay my bills than them closing accounts and leaving the consumer with no recourse. It gives the consumer a choice which the current policy does not.

[Imperfectfuture]

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@gdale6 wrote:

4506-T from a high interest rate issuer, they are not Chase nor are they Amex, laughable, glad I have jettisoned all but 2 and one more goes next month.

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Exactly.  I can even negotiate apr's down. Would never provide tax info to this joint.

[Imperfectfuture]

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@Anonymous wrote:
Flattery Flattery. lol. I try my best to use this forum as a means to benefit those who need help. As I have stated numerous times prior...had great credit...then...terrible divorce. If not for my family here in this forum I would have never..ever..been able to get back where I am now....do..if I can help in any way..I do

With respect to my "friend"....remember....they troll here...I will get the memos and post here as to minimize ambiguity.

Gregg

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Define "trolling".

[Anonymous]

Would the better move not be to call each customer and say we need your tax information.  If you are unwilling to give it then we shut your accounts down but we list them as having been shut down by the consumer.  Why would a bank give you negative comments based on their mistakes?  Their fix is to blame the customer it seems.

[Anonymous]

Creating a fraudulent account for the purposes of reading feedback pertaining to a certain subject and reporting same to their powers that be....

AKA. Online snitching

[Anonymous]

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@yfan wrote:

I think we make a mistake in assuming that every bank wants everybody's business. They don't. Ultimately, credit card issuers want 2 things from the borrower: the ability to repay and actual use of their cards. Comenity is after a specific customer segment, judging by their abundance of store cards. It actually stands to reason that they don't want customers who "have a lot better cards" taking up space in their credit lines (which they have to assume risk for ultimately) without actually using the cards often, and if those customers were to self-select out of their market, they don't mind that much (heck, that could be one intended consequence).

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Another excellent point yfan! Merrick Bank is like this. Based on a convo I had with someone at the EO office, they like being a sub prime lender. They are not looking to expand so as some of their customers move into the prime market they expect accounts to be closed.

[Anonymous]

If you don't give amex the fr information they request...or you fail the fr...they will report the account closed by lender...you do, if course, have the option to close the accounts yourself before you fail or refuse..and they will note it closed by consumer