Comenity not updating balance

[Anonymous]

Hello, 

My fiance purchased a Serta mattress and bedframe using the Comenity IComfort credit line a bit over a year ago. 

Comenity closed the account about two months after she made the purchase due to them phasing out the IComfort credit program. 

This caused her to have a maxed out credit line reporting a $3000 balance on a $0 credit line.

Her scores dropped about 70 points across the board when the credit line was closed.

She paid it off the first week of February and it has only reported to Ex that it is a zero balance. Her Ex score had risen 54 points but TU and Eq both still show a $2200 balance.

We called comenity and they said they don't report zero balances. 

Does she need to dispute? They obviously reported Ex, but aren't going to report to TU or Eq. 

Thank you 

JTC

[M_Smart007]

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@Anonymous wrote:

Hello, 

My fiance purchased a Serta mattress and bedframe using the Comenity IComfort credit line a bit over a year ago. 

Comenity closed the account about two months after she made the purchase due to them phasing out the IComfort credit program. 

This caused her to have a maxed out credit line reporting a $3000 balance on a $0 credit line.

Her scores dropped about 70 points across the board when the credit line was closed.

She paid it off the first week of February and it has only reported to Ex that it is a zero balance. Her Ex score had risen 54 points but TU and Eq both still show a $2200 balance.

We called comenity and they said they don't report zero balances. 

Does she need to dispute? They obviously reported Ex, but aren't going to report to TU or Eq. 

Thank you 

JTC

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Edited : Due to thornbacks much better advice!

@RobertEG, @thornback , @Anonymous  or a few other Members would probably be able to give you some more advice.

ETA: Also @Remedios  is Extremely knowledgeable in this area.

Someone should get back to you when possible.

[thornback]

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@Anonymous wrote:

Hello, 

My fiance purchased a Serta mattress and bedframe using the Comenity IComfort credit line a bit over a year ago. 

Comenity closed the account about two months after she made the purchase due to them phasing out the IComfort credit program. 

This caused her to have a maxed out credit line reporting a $3000 balance on a $0 credit line.

Her scores dropped about 70 points across the board when the credit line was closed.

She paid it off the first week of February and it has only reported to Ex that it is a zero balance. Her Ex score had risen 54 points but TU and Eq both still show a $2200 balance.

We called comenity and they said they don't report zero balances. 

Does she need to dispute? They obviously reported Ex, but aren't going to report to TU or Eq. 

Thank you 

JTC

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That makes zero sense.  They have to report accurate information which would mean reporting the balance as zero if it is, in fact, zero.   Perhaps the CSR misunderstood your request and thought you were requesting an "off-cycle" report to zero?   

I would try contacting Comenity again - request to speak with a supervisor -- thoroughly explain the situation and that the balance was correctly updated to EX but has not yet updated on TU / EQ and ask that they re-report.    IF they refuse, then open a dispute with the bureaus and provide proof of payment along with your dispute.   So -- take a screenshot of your Comenity account online, or if you have a statement reflecting a zero balance, include a copy of that (preferred).   Also, as suggested by @M_Smart007,  retain copies of your current reports reflecting the $0 balance on EX and the $2200 balance on TU & EQ.   IF the bureau disputes fail - then open a CFPB complaint against Comenity and include the copies of your reports and payment / zero balance confirmation. 

[Remedios]

Lender has to report accurate information, that's not optional.

First step is direct dispute, which is you reaching out to the lender directly. This step does not need to be done in writing.

Date/time you called abd CSRs name will do for now. 

If you didnt write it down, call again.

Next step us filing dispute with CRA citing incorrect balance. 

If at all possible do it via mail, attaching proof of payment. 

If online portals allow for supporting evidence to be uploaded,  you can dispute online.

CRA has 30 days to complete investigation, typically it doesnt take that long when dispute is simple. 

If that leads to correction, you're done.

If not, CFPB complaint against both Comenity and CRAs.

Complaint against Comenity would be based on failure to maintain accurate record as legally mandated.

Complaint against CRA would be for failure to perform reasonable investigation. 

If it comes to that, upload supporting evidence, and also, that's the step where you will need to prove you reached out to the lender (that's why you need date/time and name). Enclose that information with your complaint against Comenity.

Good luck and I hope you get this resolved quickly 

[Trudy]

I may be wrong, but from what I've read, no lender has to report anything, even if they chose to at some point, they don't have to continue.  Yet if they report an update it has to be accurate.  So no update seems like they stopped reporting.  @RobertEG?

I would dispute the balance with CB if it's paid in full.  Then I believe the lender would be required to respond which should cause the CB to then update accordingly.

[Remedios]

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@Trudy wrote:

I may be wrong, but from what I've read, no lender has to report anything, even if they chose to at some point, they don't have to continue.  Yet if they report an update it has to be accurate.  So no update seems like they stopped reporting.  @RobertEG?

I would dispute the balance with CB if it's paid in full.  Then I believe the lender would be required to respond which should cause the CB to then update accordingly.

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Lender doesnt have to report, that's a voluntary action on their part.

However, if lender chooses to report, they are obligated to report correct information only. If paid account shows a balance, reporting is incorrect given that enough time has passed for them to update. 

Disputing with CRAs is a second step, after direct dispute.

While direct dispute is not mandatory, it makes a complaint (if needed) that much easier as consumer has gone through all the steps without resolution. 

[Anonymous]

+1 to the great advice above.

[Anonymous]

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@thornback wrote:

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@Anonymous wrote:

Hello, 

My fiance purchased a Serta mattress and bedframe using the Comenity IComfort credit line a bit over a year ago. 

Comenity closed the account about two months after she made the purchase due to them phasing out the IComfort credit program. 

This caused her to have a maxed out credit line reporting a $3000 balance on a $0 credit line.

Her scores dropped about 70 points across the board when the credit line was closed.

She paid it off the first week of February and it has only reported to Ex that it is a zero balance. Her Ex score had risen 54 points but TU and Eq both still show a $2200 balance.

We called comenity and they said they don't report zero balances. 

Does she need to dispute? They obviously reported Ex, but aren't going to report to TU or Eq. 

Thank you 

JTC

---

That makes zero sense.  They have to report accurate information which would mean reporting the balance as zero if it is, in fact, zero.   Perhaps the CSR misunderstood your request and thought you were requesting an "off-cycle" report to zero?   

I would try contacting Comenity again - request to speak with a supervisor -- thoroughly explain the situation and that the balance was correctly updated to EX but has not yet updated on TU / EQ and ask that they re-report.    IF they refuse, then open a dispute with the bureaus and provide proof of payment along with your dispute.   So -- take a screenshot of your Comenity account online, or if you have a statement reflecting a zero balance, include a copy of that (preferred).   Also, as suggested by @M_Smart007,  retain copies of your current reports reflecting the $0 balance on EX and the $2200 balance on TU & EQ.   IF the bureau disputes fail - then open a CFPB complaint against Comenity and include the copies of your reports and payment / zero balance confirmation. 

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I have to say that I have 2 Comenity CCs, VS and WS, and it seems that I have had the same experience with them, so far. 

I got my cards at the end of Feb this year.

I bought a couple items on the WS card in March and paid it straight away when it posted. They somehow cut the statement, backdated, with the purchase, but didn't include the payment I had made. Ok, whatever. It was paid, but I was unhappy because it put me at 84% (or something in the 80% range) util. Basically maxxed out. It is a $250 CL, so that is easy to do.

Fast forward to April statement and I already know from research that they do not cut statements on accounts with no activity. Fine. Still no update on the balance being paid on any of the 3Bs.

Now May rolls around. No statement because no activity. Experian and Equifax now reflects $0 balance. Still full utilization on TU.

I have been considering making a small purchase, pay all but $1, and let it report. But if I do this, won't that blow my AZEO method away?

Similar with VS.

Made no purchases until April, though.

When I made the purchase, I paid it completely in full when it posted and before the statement cut date. I expected a statement to cut at a minimum because there was activity. A purchase and a payment. So I figured I would at least have a paper trail/record of that. Nope. It has been a few weeks since statement cut date and no statement is available.

I still only have a "green" mark or "ok" on the account opening month and no updates since for making payments and no change in "highest balance" section (which they do report because it is on my WS TL info on my CRs) on EQ or TU. Only reported on EX.

So I am wondering why I even have these CCs. It may be too soon for CLIs, but the letters basically state that I have never used the accounts, so they can't grant more credit. I guess I do still use them because I earn rewards, but it is still annoying that their reporting is severely lacking.

Sorry for rambling, but this has been my recent experience with Comenity and their reporting. It is especially frustrating that they show me still with high Util on my WS CC even though the account has been paid off for 2 months now.

[Anonymous]

It does not matter that you did not use the CC in a particular month.  The CC is still required to update the information for all CRs to reflect your actual balance.  If TU is still reporting a balance two months after the balance has been paid then they are reporting inaccurate information.  Get in contact with them and demand that they report the accurate info for your CR.  If it still doesn't happen, then you should open a dispute with TU.  Comenity has an obligation to report ACCURATE information regardless if you use the card in a particular month or not.

[Anonymous]

Reporting is voluntary, but if they do report, it must be accurate. I think the requirement is that they timely update with no definition of timely. Therefore they can get away with going more than 30 days without an update without being in violation. It’s all in interpretation.

Nevertheless it is currently inaccurate and subject to dispute. Comenity sounds like a nightmare. Glad I don’t have anything with them.