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@Anonymous wrote: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.
Please report back once you receive the letter from them. Potentially, just a bump on the road, but it's possible those accounts can eventually get a CLI in 6 months or so from now once the dust settles.
That is messed up! I just checked my four Comenity cards and all are well at this time. I rarely use the store cards (A&F, Buckle, & Express) and the Sportsmans Guide Visa is seldom used. I just began using it for Netflix and Hulu.
Hope this works out for you.
Although the letter may provide insight, in most (if not all) cases with Comenity, they don't reverse the decision once they do this type of thing. Unfortunately this is not uncommon with people with several Comenity cards. See what the letter says, but likely your only recourse is going to be living with the reduced limits or just closing the accounts (or letting them go inactive). As mentioned above you may be able to get a CLI months down the road. With some lenders, when this type of thing occurs, you can fight it, but haven''t heard much success with Comenity.
Got the letter in the mail yesterday. It advised that my credit line(s) were decreased due to excessive inquiries. I called in and asked to speak with a manager. The manager asked "Why I was so actively seeking credit when I have ample credit available?". I advised that I have a total of 7 inquiries on my credit file and 5 are recent from where I purchased a new car. I advised if they took a look they would see the inquiries were all on the same day from different automobile lenders and that there was a new auto trade line reflected within 30 days. The manager then told me that was "excessive inquiries" and that "the credit bureau provided the information". I asked if they could restore my credit to the original limts and was told "No. That my accounts would be reviewed periodically for a credit increase. If it happens you will be notified on your statement that you have received an increase". This is just crazy that a bank would think that 7 inquiries is extremely excessive espically when five are in the same day from an auto lender. I guess this bank is having financial troubles and does not want to keep customers. Oh well. I had them close down all 5 of my accounts. I wanted to get something to replace the Williams Sonoma VISA. So I went with somewhere else I shop all the time. Applied for the REI Mastercard (Believe it's issued through US Bank?). Was approved for $9000. Think I will just avoid comenity bank from here on out!
I'd stop shopping at the five places where you had these cards. If they're going to affiliate with a bank that makes decisions like this, they don't deserve your business.
When we see a thread like this, we can usually pinpoint something the OP did that was "wrong." Not in this case, though.
Wow? This is certainly the first bank/experience I've seen that takes automobile inquiries into consideration for something of this nature. Especially even after explaining. I'm sorry to hear
Sorry to hear op, I know it’s very disappointing.
Just remember, the retailers had nothing to do with Comenity’s action. If anything, they want your limits to stay intact bc they want your business.
The retailers have nothing to do with the AA (adverse action). But they're the ones that choose to affiliate with banks that do this.
A credit card is supposed to make shopping at a particular store more attractive. This advantage is now gone.