HELP!!! Comenity is trying to destroy me for no reason!!

[UpperNwGuy]

Folk here are giving you excellent advice.  Set your sights on Capital One or Discover and make that your primary card.  Meanwhile, pay off all the balances on your other cards.  

As for Comenity, let them close their cards.  The problem is the balance chasing on the cards that they're allowing to remain open.  That can hurt your score because it drives up your credit utilization rate.  Comenity can't hurt you if there is no balance, so pay off those balances.

[sghosh5]

Sorry to hear : try to get some Synchrony store cards or if possible their bank cards (e.g. Amazon store, Walmart Store, Onetravel, Cheapoair, ebates, ebay, Cathay Pacific and etc.) I have comenity card with Express and Kay and they keep increasing my limit though i use them maybe once a year. I don't like comenity either.

[Anonymous]

Comenity doesn't allow for "minimum payments", isn't that effed up? Like, my mom got a big 9k Wayfair Card to buy new furniture for our house, and one payment was 2 days late! I set all of her "normal" cards on auto pay, but didn't think Wayfair wasn't one of them. When she called, pissed and filled with enough venom to knock the Joss and Main off their co-brands, they apologized, and let her pay 2 months advance after complaining to both Wayfair and Comenity banks. 😳
I have like 4 or 5 Comenity cards Which when I pay, I set a second payment for the next month's billing day, just in case and avoid the auto issue), mainly clothing and Wayfair. I use them every few months (Wayfair way more often) and so far no probs.
However, Synchrony scares me a lil. I got a massive 15k Carecredit card for dental work and haven't got it done yet and it's been a year! I use it at Rite Aid, Walmart, etc, but like every 5 months.
I'm afraid they will CLD me! And when I apped for the Synchrony PayPal 2% card, I was only approved for $300 because I hadn't proved use of my previous Synchrony limit! 😥
I would love a simple Amazon Prime basic card, but Synchrony may low ball me again (even though my credit is now about 800 and was 700 then), and I would like that Ebates card, too, but Comenity... how many is too many???
I feel for ya OP. The Comenity/Synchrony conundrum is a beeyatch! Like, all the better store or club cards use them now.
So I got a Nordstrom Vis Sig card. Thank you TD Bank!!! 😂
Yeah.
I would get Cap One starters, or secured Discover, I think Citi and like Am Ex have them, too.
More bank options, mo money, mo money, less Co-monity.
Ya know I'm sayin??? 😜

[CreditInspired]

@Anonymous wrote:

When she called, pissed and filled with enough venom to knock the Joss and Main off their co-brands, they apologized, and let her pay 2 months advance after complaining to both Wayfair and Comenity banks. 😳

OMG, I have to use this line. I can't stop lauging.  

[Anonymous]

Well, unlike Comenity, I aim to please. 😈🤫😜

[Anonymous]

Fortunately, your score drop is no big deal most likely. I know it feels like it is now, but once your utilization levels back out that should fix itself. The closed accounts will not hurt you, but they will stay on your report for the next several years helping strengthen your average age of accounts against the new approvals you will surely be getting soon enough.

Depending how many cards you've opened, and how recently, your score will gradually increase as the impact from the hard pulls slowly begins to lessen. So, good news there as well.

The thing I don't get is why a credit counselor would recommend store cards to begin with. I mean, I get that one or two can get a foot in the door, but the interest rates are usually terrible, and they're generally only useful inside the store. It seems like it would make more sense to go for a secured card of some sort, or at least apply to something like Disco or Cap One who seem to love giving the green light to folks that may have a hard time with other lenders. Also, it seems like doing the store card thing has put all your eggs in one basket so to speak (Comenity). One slight misstep on one ripples across the others.

As much as it sucks that this has happened to you, it's not the end of the world. In fact, it may not even be a bad thing in the long run. It got you here, and the people and knowledge you will find here will be invaluable in helping you get everything headed in the right direction.

[sarge12]

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@Anonymous wrote:

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@Anonymous wrote:
It was due on April 5th. I paid it the 15th when they called

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If you were only 10 days late it means that this wasn't reported as a 30 day late to the bureaus, correct?  That would be much more impactful to the situation and something that would stick with you for 7 years.  10 days late is no big deal and probably resulted in a $35 late fee or something similar.  As far as your cards being closed and/or balance chased, don't worry about it.  Store cards aren't ideal by any means and you should be looking toward major bank cards.  Your scores will be fine if you give them time, keep utilization low and never miss a payment.

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+1

If you are under 30 days late it might cost you a late fee, but will have 0 effect on a credit score. Also if it is your first late payment, they will sometimes waive the late fee if you ask nicely.

[sarge12]

OP, I should have added that comenity and synchrony that are mainly store cards are well known to close all accounts wholesale. It is best to limit your exposure to those accounts. People often get too much exposure by having all their eggs in one basket. They are paticularly vulnerable to these easier to get cards. Having very limited exposure is a better long term strategy. I as a general rule have limited my exposure to 2 credit lines per carrier. Two Cap1, 2 Chase, 2 Citi...etc. Sometimes banks and such can close cards when you do absolutely nothing to cause that. It happens sometimes when the creditor becomes jumpy because of the general economy prompting them to want to lower their risk exposure. Diversifying over many creditors will prevent any 1 creditor from being able to have a major effect on your score. It takes time, but it is good to have a bullet proof profile. I also advise against too much debt to 1 creditor which allows them to have a bad effect by just a CLD, but utilization carries no history, so as long as you have funds to pay all cards off, a drop due to utilization is an easy fix.

[sarge12]

I wish I had a dollar for every post I have seen to say something similar to Comenity or Synchrony is ruining my life. I hope someday to see these 2 and credit one get left in the dustbin of history. Even the generous rewards of cards like Lowes and Walmart are not enough to cause me to hold their cards. I have just read too many of these posts.

[Anonymous]

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@sarge12 wrote:

I wish I had a dollar for every post I have seen to say something similar to Comenity or Synchrony is ruining my life. I hope someday to see these 2 and credit one get left in the dustbin of history. Even the generous rewards of cards like Lowes and Walmart are not enough to cause me to hold their cards. I have just read too many of these posts.

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But as you said earlier, probably OK in moderation.   And some cards seem good: I really like Syncs PPMC, and their ebates has its use.   And I guess people seem to like the Amazon one.    Just make sure the exposure is fairly small, and obviously pay on time etc.