Dell Financial

[Legally_Speaking2512]

I logged on to my Dell financial services account to pay my monthly payment and was greeted with a notice telling me that Comenity Bank will now be servicing all their accounts as of October 9th 2023. 

Honestly, I'm kind of shocked they decided to go with Comenity over Synchrony Bank. Anyway, just a heads up for those who didn't know. 

[DatBoiQuick]

I think id rather it be synchrony over Comenity Bank

[Mthorn82x]

Not sure what clown of these two companies i'd rather be with lol... I had the Overstock CC with a $1500 CL for years and Ikea Project card with $6000 CL for years with Comenity and currently Matress Firm card with Syncroney for $1000 CL at first then dropped to $200. $300 Amazon store card CL and Paypal $1500.. NO late payments on any of these cards spending around $200-500 even $1000 a month.. Word hits the news as it seems about the economy and Comenity drops my IKEA down to $200 from $6000 I can't even walk into Ikea and buy a new computer desk without pulling out the Apple card lol... Matress Firm I buy a $275 bed in box matress on sale during black friday and I pay off the full balance on time then the CL drop.  Overstock I buy once or twice a year $200-500 worth of stuff pay it off on time. Paypal I'm down in Miami I have the only card on me I run thing up to $1400 lol and pay off the full balance at statement cut.. Paypal no CL decrease. So ya that's my story of these companies.. figure it out ha. jk. just mind mogoling.  

[Drifter73]

I can't seem to find anything indicating why WebBank is trimming their portfolio and transferring Dell to another lender.

I have a few WebBank backed credit lines with different providers (e.g. MissionLane 1.5%cb no AF visa, PayPal WorkingCapital, and Oportun visa), so it would be interesting to see if anyone else is next on the chopping block.

[NYDaddy]

Technical question.  What will this Web Bank to Comity change do to our credit profiles?  I callled and could not get a straight answer.  They said you will get a new account number.  So that must mean that it will close the old # and I will lose the length of credit from it.  Then I will get a new account with a credit line TBD? which would also impact the score as a new account.  I think I will just close mine.  I don't care for Comity

[hdporter]

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@NYDaddy wrote:

Technical question.  What will this Web Bank to Comity change do to our credit profiles?  I callled and could not get a straight answer.  They said you will get a new account number.  So that must mean that it will close the old # and I will lose the length of credit from it.  Then I will get a new account with a credit line TBD? which would also impact the score as a new account.  I think I will just close mine.  I don't care for Comity

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What I would anticipate happening, based upon experience with other account transitions to new owners, is that the existing tradeline will be updated to reflect the new account owner and account number.  All existing information will remain intact and you won't lose account age, nor will this appear to be a new account.