Plus, Comenity's apps are only available on certain credit cards (see below). However, this shouldn't be an issue if you pay your bill far enough in advance.Ĭomenity's website and apps are also outdated and harder to navigate compared to the technology of larger issuers. This can potentially frustrate people who pay their credit card bills at the last minute, particularly if the bank levies a late fee on a payment. Some Comenity cardholders report that the bank's payment processing system can, at times, be unreliable, especially with payments made close to the due date. Unreliable Payment Processing and Outdated Technology If you have a history of poor credit management, however, it's advisable to open a card with a lower interest rate or a 0% introductory interest rate offer. You don't have to worry about Comenity Bank's higher interest rates if you pay off your balance in full every month. If you tend to carry a balance from month to month, the higher APR on a store credit card can cost you hundreds more in interest every year. The average interest rate for credit cards, in contrast, is between 15% and 20%. Most Comenity cards have an APR of about 27%. As such, it's important to consider your personal financial situation and ability to pay your credit card bills each month before opening a Comenity card. However, like most store lines of credit, the Comenity cards come with high annual percentage rates (APRs) that result in costly monthly interest payments. Reasons to Avoid Getting a Comenity CardĬomenity cards can be great for earning store rewards and building credit. They are a lender not a bank and have bad track record. Just did some digging and I will be closing the account almost immediately when CapitaOne Playstation Visa handover happens. I still have about $600 worth of points left and burnt them all yesterday towards purchasing the latest top of the line Sony tv.Īnyone who is thinking of getting this card, as long as Comenity Bank is associated with it, I would suggest don’t get it. Can’t close the account because it’s my oldest card. As long as Comenity is the owner of the Sony Visa card, I will sock drawer the card and use it sparingly. Nightmare trying to get access to my accounts for years. Then my account was hacked by someone in Spain around the time that Comenity acquired the business. Racked up a ton of points that I got multiple free desktops, laptops, cell phones, tvs, digital cameras, ear buds, and so on. For 25 years I used this card exclusively. It’s very frustrating that it went through so many decent/good banks and settled on pos Comenity. I got the card when it was a Citibank card. Like you, I’ve had my Sony Visa Card for a long time…27+ years now. I just joined Reddit pretty recently and found this post. They are not a bank but a lender that partners with many companies OMG, just look at recent reviews of all the services they provide. I just looked up and Comenity app and it has terrible reviews and looks like highschoolers made it.Īlso finding more information that is making me cringeĬhanged institution class to INSURED COMMERCIAL BANKS, STATE, NOT MEMBERS OF THE FRSĬhanged name to World Financial Network Bank in addition I have been using convenience of CapitalOne app, the CreditWise feature additional app for years now. It mentions in the letter that after November 9-10th 2019 switch officially will happen.Įdit. I guess Ill payoff the balance and cash in my points then once new Card for this Comenity arrives and close the account. How in the hell Sony/Playstation Brand PR thought it would be a good idea to go from a reputable bank like CapitalOne to some Bank in Ohio that I personally never EVER heard of. It is an AWFUL bank from what I am researching already. I too just opened mail with Comenity Bank and Info telling me about this handover switch. We may make an exception if it's truly unique and helpful. Self-promotional posts must be pre-approved by a mod. Spamming other users will get you banned. This includes any behavior that could be deemed fishing for referrals. Don't post them don't hint at offering them don't ask for them. This applies to any posts where we suspect anything potentially illegal or fraudulent, and may include buying/selling tradelines. PIN, Signature).Ĭapital One Upgrade Link - Check PC eligibility for your existing card List of credit card company phone numbersĬredit Card Tuneup or CreditIntro to help you find the right cardĮMV CVM Database - Find a card's Cardholder Verification Method list (e.g. Template for Card Recommendation Requests CreditKarma - Uses TransUnion and EquifaxĬreditSesame - May use Transunion or Experian depending on service
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