I made a purchase on my PS Visa card back in February, and when I went to make a payment, the website wasn't working properly and I couldn't pull a payment. I sent a secure message asking when it would be fixed, but never got a reply. So, I pushed a payment from my bank. It was received and credited correctly.
Fast forward to this month, and I get a notice of a secure message from Commenity. Titled "Your Requested Information." I open it up, and its a Dear John letter from them. In a nutshell:
"We’re Comenity Bank and we issued your Playstation Visa® credit card.
We closed your account – and here’s why:
As of May 19, 2020, your Playstation Visa® credit card account was closed due to account inactivity and information in your credit report. This means no more purchases can be placed on your account.
...
Here are the most significant factors impacting your credit score:
• Delinquent or derogatory real estate secured loan - Haven't missed a payment in 9 years. In fact I usually pay extra.
• Delinquent or derogatory status on real estate loans is too recent - I did a loan modification 9 years ago.
• Delinquent or derogatory account - I have a 100% payment record since my BK7 9 years ago.
• Balances on bankcards are too high compared with credit limits - Somewhat legit. I took a 0% BT from Cap 1 when I was laid off because of Covid-19. Cash is still in my account, but I'm not paying it back until I get called back to work full time next month.
• Number of inquiries was also a factor, but effect was not significant - This one is funny. TU - 3, EQ - 2, EX - 3. Last inq was Nov of '19.
They haven't touched my Sportsman's Guide or Total Rewards cards.
Its only $2,800, so I don't care. Its actually been on the chopping block since it was a CapitalOne card. Just relating the data points for anyone who might be interested!
Agreed. It's a blessing. Ever since they changed from Capital One and reduced earnings from 10 points to 5 points it has been useless to me. I have since closed it.
And they still credited with a negative even though the account balance closed since The Last of Us Part II preorder was canceled.
I had to call in to get my money back.
Good riddance to a card that's useless.
@RSX wrote:from the list of your other cards, this is not a loss (as you mentioned)
thanks for the DP's
@Dalmus anytime a lender provides reasons that don't make sense it is always worthwhile to take a quick peek at your credit reports and make sure nothing wonky is going on. Free weekly reports are available during COVID-19 at annualcreditreport.com
Thanks for sharing the DPs
