@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Don't have anything else going on profile wise that would send red flags up. I keep very low utilization and push a lot of spend across everything else and PIF most of it.
@humuhumunukunukuapua'a wrote:
These are just some of the reasons why Comenity is wrong to do this. They will end up losing some really good customers, because a lot of people with card closures were actually using their cards responsibly and making money for Comenity.
I actually haven't seen anyone post yet who said they had maxed out their Comenity cards or anything crazy like that. Many people paying in full. Great risk analysis model, Comenity.
I know it is easier to state that banks are being foolish etc, but the reality is we don't know their risk models. Perhaps if we had access to the same information we would agree. Algorithmic closures always risk hitting false positive customers, but the overall impact may well be good, reducing risk more than decreasing income. And much more cost effective than considering each case on its merits which you simply cannot do with large number of customers.
Very good points LTL. While these CC recent closures have been unfortunate for some individuals, trust me, it hasn't stopped new CC originations - albeit perhaps more cautious on their appetite for risk or even the SLs.
@Anonymous wrote:Thank you for this thread. It is a very interesting read and gives some insights into some things that are happening. It is helpful when many people in the forum give their experiences.
Thanks, musiclover! I agree that the data points have been really helpful and hope that people keep them coming. I also hope the closures have come to a close for now 