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What's so Bad about COMENITY?

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Frequent Contributor

What's so Bad about COMENITY?

I curious to know because informed delivery shows that my Comenity BJ's M/C is in the mailbox. What's so bad about comenity that folks here won't touch them with a 10 ft pole?
Amex Blue Cash $28k
Chase FU $11.2k
BOA Cash Rewards $20k
Comenity BJ's Perks Plus M/C $10k
Cap1 QS $750 (AU), BOA Auto
March. 2020 TU 781, EX 775, EQ 776
INQ 1/6, 1/12, 2/24.......TU-0, EX-2 EQ-2
Message 1 of 37
36 REPLIES 36
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Moderator

Re: AJC needs to start a thread......What's so Bad about COMENITY?

There are plenty of posters here with Comenity cards......I even have one. 

Not all, but some don’t like them from past experiences.

Comenity is very relaxed on store card approvals. They will approve, approve and approve some more to the same person in a short amount of time. Then they will shut you down. Some folks don’t like that 🤷🏽‍♀️

Just as any other lender, not everyone is a fan. 

Got some pruning to do... No more new cards!
Message 2 of 37
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Mega Contributor

Re: AJC needs to start a thread......What's so Bad about COMENITY?


@JAG73 wrote:

There are plenty of posters here with Comenity cards......I even have one. 

Not all, but some don’t like them from past experiences.

Comenity is very relaxed on store card approvals. They will approve, approve and approve some more to the same person in a short amount of time. Then they will shut you down. Some folks don’t like that 🤷🏽‍♀️

Just as any other lender, not everyone is a fan. 


I think that is a fair summary!    Basically, a lot of people, especially in the rebuilding phase, get keen on getting approvals and so can get many (many) store cards, and Comenity is a major issuer.   Then, as JAG73 suggests, some flag goes up in Comenity systems and decides that the person is a risk (aggressive credit seeking, too many new accounts, whatever!) and shuts them down.    This leads to posts here "My Accounts closed for NO REASON" and the issuer becomes viewed as unreliable.      But in moderation, it's probably OK.

 

(Yes, I know there have been shutdowns of people with very few cards, even one, but that also happens with other issuers)

Message 3 of 37
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Valued Contributor

Re: AJC needs to start a thread......What's so Bad about COMENITY?

Not a fan of Comenity

















Your FICO credit scores are not just numbers, it’s a skill.

Message 4 of 37
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Valued Member

Re: AJC needs to start a thread......What's so Bad about COMENITY?

For what it's worth, Comenity was the only issuer to ever give me a CLD or any form of AA. It left a sour taste in my mouth, but no hostility towards Comenity. I don't intend to get any new cards from them though.


Starting Score: EX:602 | EQ:598 | TU:624 as of 08/08/2019
Current Score: EX:731 | EQ:733 | TU:760 as of 10/04/2019
Goal Score: EX:740 | EQ:740 | TU:740
Message 5 of 37
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Super Contributor

Re: AJC needs to start a thread......What's so Bad about COMENITY?

I rarely flew Virgin America and rarely shop at any stores that have Comenity cards. So there's just nothing they offer that interests me.

 

Most of the complaints relate to aggressive credit seeking in some fashion. A relative pushed a payment to a Comenity card using the wrong card number (which was absolutely her error) and the payment was applied to someone else account. Late fees and interest were eventually reversed, but it took a while to sort out.

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Message 6 of 37
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Moderator

Re: What's so Bad about COMENITY?

The responses will likely vary depending on an individual's experience.

IME, I have had no major issues with them holding several Comenity V/MC/D CCs including some retail ones.

The landscape definitely changed a few years ago in their UW model for evaluating new accounts approvals and the infamous SCT and CLIs here recently - although the latter can still be YEMV.

I think the disadvantage (or advantage) depending on which camp you're in, would be the secondary audit reviews that cause many of the AA shutdowns based on perceived credit seeking behaviors.

In the past, the Approvals forum was fluid with several Comenity V/MC approvals, but not so much these days... so as long as one happens to be in the 'Goldie Locks' zone (i.e. overall credit profile), then often times that's typically safe from AA.

CLDs are another type of Comenity AA depending on a variety of risk factors, which may include increased utilization, late payments on other Comenity accounts, scores taking a dip, introduction of a collection or negative item, etc.
Message 7 of 37
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Moderator

Re: What's so Bad about COMENITY?

Everything!  Enough said!   LOL...jk, but not really.  Every lender has their quirks...for me, Comenity just has one too many. 

Message 8 of 37
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Frequent Contributor

Re: What's so Bad about COMENITY?

Thanks for the reponses guys. I've gotten offers for other store card but i'm a clearance type of girl and spending more than $50 in a store gives me headache. I like huge hauls for little money.

 

But food is a different story, I will spend all my money on food. Outside of this forum I've read that interest was charged although account was paid by the due date. Despite this I still went ahead and got the BJ's Card. Surprisingly my APR is lower than my Amex at 17.24% (Amex is around 17.8%). At the moment I do not exhibit or intend to exhibit any credit seeking behavior.

 

I guess time will tell how well Comenity treats me.

Amex Blue Cash $28k
Chase FU $11.2k
BOA Cash Rewards $20k
Comenity BJ's Perks Plus M/C $10k
Cap1 QS $750 (AU), BOA Auto
March. 2020 TU 781, EX 775, EQ 776
INQ 1/6, 1/12, 2/24.......TU-0, EX-2 EQ-2
Message 9 of 37
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Community Leader
Senior Contributor

Re: What's so Bad about COMENITY?

I have two retails from them, opening in July and September of last year. Have had them paid off, have carried balances, have used promos. I’ve gotten regular CLIs on both, to many multiples of their SLs (both started at $500, one is now $2500 and one is $3700).

I’ve had no issues. What I have seen in many tales was people opening several retail cards in a shorter-than-smart timeframe, and then getting a V/MC from them also, and being subsequently shut down. I believe the AA closures simply are from abuse of the SCT in the past and opening more lines than one’s profile could support. Most SCT abusers were fairly early rebuilders from what I can recall, with low 600s, who were snapping up any possible credit like kids on Halloween candy, and paid the price for getting too much too soon.


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TCL $95,400 | Agg. Util under 5%
Message 10 of 37
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