Strange Comenity Bank CLD!!!

[Anonymous]

So I have 5 accounts with Comenity Bank. They are as follows:

Eddie Bauer: $3500

Overstock.com: $5200

Petland: $6800.00

The Children's Place: $2100

Williams-Sonoma Visa: $7000

I use all of these cards on a very regular basis as I shop at all five store prob. monthly. I never cary a balance and I always pay in full each month. My credit score has not changed (750ish), and I have no missed payments or anything. I have had these five accounts for several years. I received a notification from Experian today that said I had a credit line decrease reflected on my credit report. I logged in to look to see what was going on and I had 5 CLD!!! My new limits are as follows:

Eddie Bauer: $100

Overstock.com: $250

Petland: $100

The Children's Place: $250

Williams-Sonoma Visa: $500

I called Comenity Bank to find out what was going on and received the same answer every time. We have mailed out a letter explaining the details. That was all I could get out of them and they refused to restore my credit lines or provide any kind of increase. Has anyone had this happen to them recently? If so what was the reason that Comenity Bank gave? At these limits I can not really see any reason in keeping the accounts open because anything charged will just damage my credit. If I charge nothing and just let them sit Comentity will close the accounts due to inactivity, and if I close them it will really lower my average age of accounts. Any information or advise is appreciated!

[Anonymous]

Closing a card won't affect your AAoA until the account falls off your report which is typically 10 years.  

Do you have many recent inquiries?  Higher UTI on other cards?  Other new accounts?  If so, how many?  I want this letter now!

[FinStar]

Besides the above Comenity accounts, what other tradelines do you have? How's your overall utilization? (excluding Comenity). Have you had any recent credit profile changes, such as a mortgage, vehicle loan, student loans, etc., added on your CRAs? Any new accounts in the last 6 months?

Hopefully the letter you receive can yield more information. The type of adverse action you experienced usually occurs as a result of changes with an individual's credit profile or if any accounts have a prolonged period of inactivity.

If you leave the accounts unused, they will be eventually closed (at some point) for inactivity. If you decide to close them (your choice of course) it shouldn't affect your AAoA since any closed accounts usually remain on CRAs for up to ~10 years.

I'd be curious to know what the letters say.

[Remedios]

Was  Williams-Sonoma Visa issued last? 

[Anonymous]

I have no high utilization on any other accounts. My utilization across the board is around 3%. I have not opened any new credit cards within the last year. I have 5 inquires within the last 30 days, however, it is where I purchased a new vehicle. Ended up financing through my credit union. Car note of $525 a month on a new Land Rover. No more then my previous car note. So not really any change in my DTI.

[Anonymous]

No...that was transfered over to Comenity Bank from Barclay's I believe was who had it before? I have had that card for 10+ years.

[Anonymous]

I have:

AMEX Delta: $6000

Barclay's American Airlines: $8500

Discover NHL card: $12500

Credit Union credit card (Baxter CU): $25000

Credit Union LOC (Baxter CU): $15000

Lowes CC: $40000

Chase IHG: $11000

Utilization is around 3% across the board. I usually pay in full each month. The 3% is on the American Airlines card b/c they had a 12 month no interest promo I took for airline tickets. 5 recent inq. from the purchase of a new land rover. Payment is $525. Previous vehicle was recently paid off and the payment was close to the same. So no change in DTI. Vehicle loan is the only new account within the last year. No inactivity on the Comenity accounts. I use them monthly. With the 5 inq. my score dropped like 4 points? I am still in the 750ish range.

[Anonymous]

Well you said that you use the cards almost monthly so the inactivity reason is out.  The new accounts and high UTI reasons are out.  The only thing left is those 5 inquiries in the last 30 days from car shopping.  Please make sure to report back as soon as you get that letter.

[Anonymous]

Yeah I will. I would imagine that I will get a letter in the mail any day since it has already been reported to the CRA. Hopefully some time this week.

[UpperNwGuy]

Maybe it's time for you to move on from Comenity to one or two of the better banks.