Shut down by comenity for adding ONE visa

[Anonymous]

Let me preface this by saying... I have had a few comenity store cards for years. My scores are all good.. I do have a BK from 2011 but nothing negative since then. I applied for a Williams Sonoma Visa and was approved. I didn't even get to use it ONCE. I saw it report on my credit report as "new account opened, canceled by credit grantor'. I called to see what was up and sure enough.. they closed it for inquiries. The only inquiry I have is from them and a capital one card from two months ago. All I know is, stay far away from comenity. As soon as I pay the $160 I charged to my Zales I will be closing it. What a mickey mouse 'bank'. So glad I didn't try and use it and have to deal with the embarassment of it being declined.

[Anonymous]

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@Anonymous wrote:

Let me preface this by saying... I have had a few comenity store cards for years. My scores are all good.. I do have a BK from 2011 but nothing negative since then. I applied for a Williams Sonoma Visa and was approved. I didn't even get to use it ONCE. I saw it report on my credit report as "new account opened, canceled by credit grantor'. I called to see what was up and sure enough.. they closed it for inquiries. The only inquiry I have is from them and a capital one card from two months ago. All I know is, stay far away from comenity. As soon as I pay the $160 I charged to my Zales I will be closing it. What a mickey mouse 'bank'. So glad I didn't try and use it and have to deal with the embarassment of it being declined.

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This has been known here for years -- if you have Comenity non-Visa/MC cards, don't get a Visa/MC card by Comenity.

Sorry for your closure, good reminder to folks about it.

[Anonymous]

I have an old Comenity store card didn’t have a problem getting approved for a Comenity visa in the summer.

[Anonymous]

Not sure of the criteria used by Comenity but they do make exceptions to the V/MC rule. I've had the Wayfair and Boscov's cards for a while and recently added the SpGd Visa. Just paid first statement on the Visa and ordered from Boscov's Monday night with no problems.

Sorry about the bad luck.

[FinStar]

As I mentioned on a separate thread, I've added a couple Visa CCs from them in the last year or so, with an existing mix of prior store CCs and Visa/Discover accounts. Thus far, no issues... knock on wood.

I tend to periodically and proactively check to determine whether any foreseeable changes may occur (i.e. SPs from Alliance Data Systems, C/CCB, or alternative reporting bureaus, etc.). I'm fairly certain they have some risk algorithms with specific criteria that flags certain profiles to perform a secondary review. What that is, the specific review process or its frequency is still unknown.

[AverageJoesCredit]

2 inquiries and they shut it down before you can even use it . Ridiculous. Yes those of us on the forum who have been around abit know of this possibilty and obviously you knew it was a risk, but they need to check how they do that. Its not right to close a week , 2 , or even a month later after approval. How many store cards do you have and are they still open?. Thanks sorry to hear about this.

[Anonymous]

I'm wondering about my situation now... I opened a Comenity Ulta MC SL $1500 in October and then added a PayPal credit account SL $5000 around Dec. 1st. No other Comenity accounts. PIF each month on the MC.

It's the reverse- a Comenity MC first, then the store credit. Wondering if I should be concerned?

[Dalmus]

I wonder how many inquiries you have on some of those 2nd and 3rd tier CRA's like ADS?  I've seen some people post here that when they checked their reports from some of those agencies, they show and inquiry coinciding with each "SP" prequal they did.

Perhaps that is what they are starting to do?

[AverageJoesCredit]

No clue, just keep eye on your accounts. Paypal credit may soon become Synchrony so thatll be one less Comenity to worry about

[FinStar]

Sure, one less Comenity account to think about in the grand scheme of things as far as PayPal Credit, but I think you're not considering that app-happy individuals still tap the Synchrony well (new accounts, deteriorating profiles and excessive CLI requests) and have been known to trigger AA via the infamous "blue envelope".

Folks just need to be aware about the constantly changing landscape with some lenders and determine their appetite for risk.