Help understanding Comenity Bank

[iwantbettercredit]

Hi, I am baffled by comenity Bank and hope someone can shed some light on them for me. So I am approx 1 yr. out of a discharged 13 bankruptcy whereas, i paid off 100% of my 50,000 debt. Comenity was very generous in giving me credit cards immediately following my discharge. This is what they gave me.

Jared $4000

Petland $2000

Victoria Secret $750

Lexus $2000

Ulta $500.00

Carsons $400

So, i havent used any of the cards except for Victoria Secret and they have been paid off for a few months now. So i havent had the need to use any others so i kind of expected them to close all them for inactivity except for victoria secret since i do use it  and then pay if off. So i was right, they started to close them but close all including victoria secret, i called and askd them not closed VS but they told me my vantage score dropped and is below their standards and i have a bankruptcy on record.  What??????? Of course i do but it was sucessfully discharged and you gave me all this credit. I understand if i am not using them but dont say it was becuz of my BK and score dropped. (Vantage Score). The fact of the matter is my scores are in the mid 600's. I do have other credit cards, a mortgage, and two car loans and have Not Missed one payment, my payments are good. So im confused any one know comenity and what i might be able to do about this? They say my vantage score is 565 or something??I use the my fico score, that is more important to me. am i wrong?? 

Thanks in advance for all who respond :-)

Me

[Brooklyn2018]

My understanding is that most lenders have their own “in house,” for a lack of better terms, scoring model that they use. I may be corrected here but, that’s probably the case(?) Sorry this has happened to you😞. Comenity, from what I’ve been reading has been on this kick.

I’m sure someone may have a definitive answer(?)

[iwantbettercredit]

Brooklyn2018.....you are probably correct, they are coming up with whatever reason they want in "their head". I am dissapointment in them. If a BK was an issue they should have thought about that before giving me the card(s)in the first place, Personally i think they are just mad that i didnt utilize the cards. Thank you, your response makes sense.

[Brooklyn2018]

Here is another thing that hit me...and I may be wrong on this so, please don’t get upset. 😉

Maybe? The computer AT TIME did not pick up on the BK and maybe a manual review was done for say, CLI?? Idk? I’m just speculating here...and that might have triggered the closing of them once the manual review spotted the BK...?? Again, I’m just trying to use possible common knowledge I’ve learned this past year. I’m sure someone might have a better answer. I only have less than a year under my belt doing this...😂

[iwantbettercredit]

Hi,

That is possibility also.

I am going to wait for their "we closed your account letter" and then im contacting the credit bureau for a more indepth explanation.

Thanks again for sharing your thoughts on this:-)

[kiea]

I was denied a CLI for the same reason.  The letter said denied due to Bankruptcy.  I couldn't understand that.  I had the bankruptcy on my reports when I got approved.  I tried on my NY & company card and I was denied due to 'no real estate accounts'.  I don't know what that has to do with my credit cards.  I don't even try anymore.  They base their decision on your Vantage score...I think that is stupid since your FICO score is the real score. 

I haven't used my Victoria Secret card since January.  How long did you go without using your cards before they closed them?

[iwantbettercredit]

Hi Kiea,

Most of the cards they closed i never used and had them for about 9 months. But my Victoria Secret Ive used a few times and paid off in a few payments, but i havent used it now for about 3 months, i was planning on using it at christmas.  Another interesting thing is evidently my mortgage is showing as listed in my BK because when i apply for credit they said i have no mortgage reporting. This of course is untrue. Ive never been behind in my mortgage so it was not included in my bk, and i still owe and paid on it. I pay my payment directly to the lender. so why they are saying i have no mortgage is beyond me.

I agree with you, the BK was on my report when i got approved also, so its really stupid they are using this excuse now. why dont they just say its because the cards are inactive, instead they are giving us lame excuses, geez! LOL

[kiea]

Lol...I completely agree.  Hopefully you will be able to get another card to replace your loss.  Synchonory bank has all the good stores but they have a lot of bad reviews so I'm scared to go down that route.

Wishing you the best of luck with you credit journey...:-)

[iwantbettercredit]

Thanks Kiea, Wishing you the best credit journey as well. Synchrony has not been kind to me, i think i'll skip that road. I've had great luck and much generosity with Navy Fed Credit Union, Discover, Target and Nordtroms, they are really all i need thats why i havent used any of the comenity cards. im just baffled by their reason. LOL

Have a great day!

[kiea]

Lol...thank you.  Hope you have a great day too