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Источник: https://en.wikipedia.org/wiki/Capital_One

Capital One

Bank holding company headquartered in McLean, Virginia

Capital One logo.svg
CapitalOneHQ body.jpg

Capital One Tower in Tysons, Virginia

TypePublic

Traded as

IndustryFinancial services
FoundedJuly 21, 1994; 27 years ago (July 21, 1994)
Richmond, Virginia, U.S.
FounderRichard Fairbank, Nigel Morris
HeadquartersCapital One Tower
McLean, Virginia

Areas served

United States, Canada, United Kingdom

Key people

Richard Fairbank
(Chairman, President and CEO)
Stephen S. Crawford
(Head of Finance and Corporate Development)
R. Scott Blackley
(CFO)
ProductsRetail banking, credit cards, loans, savings
RevenueDecrease US$26.033 billion (2020)[1]

Operating income

Decrease US$3.203 billion (2020) [1]

Net income

Decrease US$2.714 billion (2020) [1]
Total assetsIncrease US$421.602 billion (2020) [1]
Total equityIncrease US$60.204 billion (2020) [1]

Number of employees

Increase51,985 (2020) [2]
SubsidiariesWikibuy, ShareBuilder, Paribus, United Income, BlueTarp, Adaptive Path, Confyrm, Capital One Securities, Critical Stack, Monsoon Company, Finnoble Solutions, Notch
Capital ratio11.2% (2018)
Websitewww.capitalone.com
Footnotes / references
[3]

Capital One Financial Corporation is an American bank holding company specializing in credit cards, auto loans, banking, and savings accounts, headquartered in McLean, Virginia with operations primarily in the United States.[3] It is on the list of largest banks in the United States and has developed a reputation for being a technology-focused bank.

The bank has 755 branches including 30 café style locations[4] and 2,000 ATMs. It is ranked 97th on the Fortune 500,[5] 9th on Fortune's 100 Best Companies to Work For list,[6] and conducts business in the United States, Canada, and the United Kingdom.[3] The company helped pioneer the mass marketing of credit cards in the 1990s.[7] In 2016, it was the 5th largest credit card issuer by purchase volume, after American Express, JPMorgan Chase, Bank of America, and Citigroup.[8]

With a market share of 5%, Capital One is also the second largest auto finance company in the United States, following Ally Financial.[9]

The company's three divisions are credit cards, consumer banking and commercial banking. In the fourth quarter of 2018, 75% of the company's revenues were from credit cards, 14% were from consumer banking, and 11% were from commercial banking.[3] Capital One has consistently ranked as one of the best places to work for, appearing in multiple Glassdoor's Best Places To Work reports.[10] In 2020, Fortune magazine ranked Capital One at number 24 on their Fortune List of the Top 100 Companies to Work For in 2020 based on an employee survey of satisfaction,[11] rising to 9 on the 2021 list.[12]

History[edit]

Richard Fairbank and Nigel Morris founded Capital One in 1988 with the support of Richmond, Virginia-based Signet Bank. Fairbank became the company's CEO on July 27, 1994, after Oakstone Financial was spun off from Signet Financial Corp. Oakstone Financial was later renamed to Capital One in October 1994, and the spin-off was completed in February 1995. The newly formed credit card company was ranked among the top ten credit card issuers in the United States after signing up more than five million customers. Capital One worked as a monoline, deriving all of its revenues from the credit card business. Even as a monoline, it succeeded in the credit card business due to its use of data collection to target personalized offers directly to consumers.[citation needed]

In 1996, Capital One moved from relying on teaser rates to generate new clients to adopting more innovative techniques that would attract more customers to their business model. At the time, it was losing customers to competitors who offered higher ceilings on loan balances and no-annual-fee accounts. The company came up with co-branded, secured, and joint account credit cards. In mid-1996, Capital One received approval from the federal government to set up Capital One FDB. It meant that the company could now retain and lend out deposits on secured cards and even issue automobile installment loans.[citation needed]

Monoline credit card company (1994–2004)[edit]

Capital One retail footprint as of 2010

On July 21, 1994, Richmond, Virginia-based Signet Financial Corp (now part of Wells Fargo) announced the corporate spin-off of its credit card division, OakStone Financial, naming Richard Fairbank as CEO.[13] Signet renamed the subsidiary Capital One in October 1994.[14][15]

At that time, Capital One was a monoline bank, meaning that all of its revenue came from a single product, in this case, credit cards.[16] This strategy is risky in that it can lead to losses during bad times.[16] Capital One attributed its relative success as a monoline to its use of data collection to build demographic profiles, allowing it to target personalized offers of credit directly to consumers.[17]

Capital One began operations in Canada in 1996.

Expansion into auto loans (1996–present)[edit]

In 1996, Capital One expanded its business operations to the United Kingdom and Canada. This gave the company access to a large international market for its credit cards. An article appearing in the "Chief Executive" in 1997 noted that the company held $12.6 billion in credit card receivables and served more than nine million customers. The company was listed in the Standard & Poor's 500, and its stock price hit the $100 mark for the first time in 1998.[citation needed]

Throughout its history, Capital One has focused on making acquisitions of monolines in various related sectors. In 2005, the company acquired Louisiana-based Hibernia National Bank for $4.9 billion in cash and stock. It also acquired New York-based North Fork Bank for $13.2 billion in 2006. The acquisition of smaller banks reduced its dependency on the credit business alone. Other companies acquired by Capital One include Netspend for $700 million in 2007, Chevy Chase Bank for $520 in 2009, IDG Direction division for $9 billion in 2011, and General Electric's Healthcare Financial Services Unit for $9 billion in 2015.[citation needed]

During the subprime financial crisis of 2008, Capital One received $3.56 billion in investments from the US Treasury courtesy of the Troubled Asset Relief Program in 2008. The company was forced to close its mortgage division, GreenPoint Mortgage, due to the losses incurred by investors. It paid back $3.67 billion to the US Treasury for the repurchase of the company stock.[citation needed]

CapitalOne Café in Chicago

In July 1998, Capital One acquired auto financing company Summit Acceptance Corporation.[18]

In 1999, Capital One was looking to expand beyond credit cards. CEO Richard Fairbank announced moves to use Capital One's experience with collecting consumer data to offer loans, insurance, and phone service.[19][20]

In October 2001, PeopleFirst Finance LLC was acquired by Capital One.[21]

The companies were combined and re-branded as Capital One Auto Finance Corporation in 2003.[22]

In late 2002, Capital One and the United States Postal Service proposed a negotiated services agreement (NSA) for bulk discounts in mailing services.[23] The resulting three-year agreement[24] was extended in 2006.[25] In June 2008, however, Capital One filed a complaint[26] with the USPS regarding the terms of the next agreement,[27] citing the terms of the NSA of Capital One's competitor, Bank of America. Capital One subsequently withdrew its complaint to the Postal Regulatory Commission following a settlement with the USPS.[28]

Onyx Acceptance Corporation was acquired by Capital One in January 2005.[29]

Expansion into retail banking (2005–present)[edit]

While many other monolines were acquired by larger, diverse banks, Capital One expanded into retail banking with a focus on subprime customers.

Capital One acquired New Orleans, Louisiana-based Hibernia National Bank for $4.9 billion in cash and stock in 2005[30] and acquired Melville, New York-based North Fork Bank for $13.2 billion in cash and stock in 2006,[31] which reduced its dependency on credit cards from 90% to 55%.[32]

In 2007, Capital One acquired NetSpend, a marketer of prepaid debit cards, for $700 million.[33]

During the 2007 subprime mortgage financial crisis, Capital One closed its mortgage platform, GreenPoint Mortgage, due in part to investor pressures.[34][35][36]

In 2008, Capital One received an investment of $3.56 billion from the United States Treasury as a result of the Troubled Asset Relief Program.[37][38] On June 17, 2009, Capital One completed the repurchase of the stock the company issued to the U.S. Treasury paying a total of $3.67 billion, resulting in a profit of over $100 million to the U.S. Treasury.[39]

The U.S. Securities and Exchange Commission criticized Capital One's conduct during the crisis, claiming that they understated auto loan losses during the financial crisis of 2007–2008. In 2013, Capital One paid $3.5 million to settle the case, but was not required to directly address the allegations of wrongdoing.[40]

In February 2009, Capital One acquired Chevy Chase Bank for $520 million in cash and stock.[41][42][43][44]

In January 2011, Capital One acquired Canada-based Hudson's Bay Company's private credit card portfolio from Synchrony Financial, then known as GE Financial.[45]

In June 2011, ING Group announced the sale of its ING Direct division to Capital One for $9 billion in cash and stock.[46] On August 26, 2011, the Federal Reserve Board of Governors announced it would hold public hearings on the Capital One acquisition of ING Direct, and extend to October 12, 2011, the public comment period that had been scheduled to end August 22.[47] The move came amidst rising scrutiny of the deal on systemic risk, or "Too-Big-to-Fail," performance under the Community Reinvestment Act, and pending legal challenges. A coalition of national civil rights and consumer groups, led by the National Community Reinvestment Coalition, were joined by Rep. Barney Frank to challenge immediate approval of the deal. The groups argued that the acquisition was a test of the Dodd-Frank Wall Street Reform and Consumer Protection Act, under which systemically risky firms must demonstrate a public benefit that outweighs new risk before they are allowed to grow. Kansas City Federal Reserve Bank head Thomas M. Hoenig was also skeptical of the deal.[48][49] In February 2012, the acquisition was approved by regulators and Capital One completed its acquisition of ING Direct.[50] Capital One received permission to merge ING into its business in October 2012,[51] and rebranded ING Direct as Capital One 360 in November 2012.[52]

In April 2011, Capital One signed a deal with Kohl's to handle Kohl's private label credit card program that was previous serviced by Chase Bank for a seven-year period for an undisclosed amount.[53] The contract between the two companies was extended in May 2014.[54]

In August 2011, Capital One reached a deal with HSBC to acquire its U.S. credit card operations.[55] Capital One paid $31.3 billion in exchange for $28.2 billion in loans and $600 million in other assets. The acquisition was completed in May 2012.[56] The acquisition also included private issued credit cards for such companies as Saks Fifth Avenue, Neiman Marcus, and Lord & Taylor that were previously handled by HSBC.[57]

On February 26, 2012, along with several other banks, Capital One announced support for the Isis Mobile Wallet payment system.[58] However, in September 2013, Capital One dropped support for the venture.[59]

In 2012, Capital One closed 41 branch locations.[60]

In 2015, Capital One closed several branch locations to leave 174 operating branches in the D.C. metro area.[61]

On February 19, 2014, Capital One became a 25% owner in ClearXchange, a Peer-to-peer transaction money transfer service designed to make electronic funds transfers to customers within the same bank and other financial institutions via mobile phone number or email address.[62] ClearXchange was sold to Early Warning in 2016.[63]

In January 2015, Capital One acquired Level Money, a budgeting app for consumers.[64]

On July 8, 2015, the company acquired Monsoon, a design studio, development shop, marketing house and strategic consultancy.[65]

In 2015, Capital One acquired General Electric's Healthcare Financial Services unit, which included $8.5 billion in loans made to businesses in the healthcare industry, for $9 billion.[66]

In October 2016, Capital One acquired Paribus, a price tracking service, for an undisclosed amount.[67][68]

In July 2019, Capital One signed a deal with Walmart to handle Walmart's private label and co-branded credit card programs that was previously serviced by Synchrony Financial.[69]

In November 2021, the company introduced Venture X, a travel rewards credit card, with a $395 annual fee.[70]

Exit from mortgage banking (2006–2007 and 2011–2017)[edit]

In November 2017, President of Financial Services Sanjiv Yajnik announced that the mortgage market was too competitive in the low rate environment to make money in the business.[71] The company exited the mortgage origination business on November 7, 2017, laying off 1,100 employees.[72] This was the second closure; the first occurred on August 20, 2007, when GreenPoint Mortgage unit was closed.[73] GreenPoint had been acquired December 2006 when Capital One paid $13.2 billion to North Fork Bancorp Inc. The re-emergence into the mortgage industry came in 2011 with the purchase of online bank ING Direct USA.[74]

Other acquisitions[edit]

In May 2018, the company acquired Confyrm, a digital identity and fraud alert service.[75][76][77]

In November 2018, Capital One acquired Wikibuy, a shopping comparison app and browser extension from an Austin, Texas start-up business; Wikibuy has no connection with Wikipedia/Wikimedia.[78]

Divisions[edit]

Capital One operates 3 divisions as follows:[3]

  • Credit cards – Capital One issues credit cards in the United States, Canada, and the United Kingdom and is the 3rd largest credit card issuer, after JPMorgan Chase and Citigroup. As of December 31, 2018, Capital One had $107.350 billion in credit card loans outstanding in the United States and $9.011 billion of credit card loans outstanding in Canada and the United Kingdom, with credit cards representing 47.3% of total loans outstanding.[3]
  • Consumer banking – offers banking services, including checking accounts, saving accounts, and money market accounts via its branches and direct bank as well as retail and auto loans. As of December 31, 2018, the company had $2.864 billion in retail loans outstanding and $56.341 billion in car finance loans outstanding, representing 22.9% of total loans outstanding.[3]
  • Commercial banking – As of December 31, 2018, Capital One had $70.333 billion in loans outstanding secured by commercial, multifamily, and industrial properties, representing 28.6% of total loans outstanding.[3]

Sports marketing[edit]

Since 2001, Capital One has been the principal sponsor of the college football Florida Citrus Bowl, which has been called the Capital One Bowl since 2003.[79] It sponsors a mascot challenge every year, announcing the winner on the day of the Capital One Bowl. The name of the stadium was changed in 2014 to the Orlando Citrus Bowl and was then changed again to Camping World Stadium in 2016, following a multi-year naming rights sponsorship with Camping World.[80]

Capital One is one of the top three sponsors of the NCAA, paying an estimated $35 million annually in exchange for advertising and access to consumer data.[81][82] Capital One also sponsored the EFL Cup, an English Soccer Competition, from 2012 to 2016. The company sponsored Sheffield United F.C. from 2006 to 2008. Since 2009, the University of Maryland Terrapins football team has played at Capital One Field at Maryland Stadium (formerly Byrd Stadium), a naming-rights deal inherited in the bank's acquisition of Chevy Chase Bank. In 2017, the company became the sponsor of the Capital One Arena in Washington D.C.[83][84]

In 2018, to celebrate the Washington Capitals' second-ever Stanley Cup Finals appearance, the firm temporarily changed its logo by replacing the word "Capital" with the Capitals' titular logo, without the "s" plural.[85][86]

Corporate citizenship[edit]

Capital One operates some charitable programs. The accountability organization National Committee for Responsive Philanthropy has been highly critical of Capital One's relatively low rate of giving, stating that "Capital One's philanthropic track record is dismal".[87] The organization pointed out that Capital One's donations of 0.024% of revenue were much less than the industry median of 0.11% of revenue.[87] Capital One has disputed the groups figures, saying that "... In 2011 alone, our giving totals are more than 6 times greater ($30 million) than the number given by the NCRP".[88]

Criticism and legal actions[edit]

[edit]

In July 2012, Capital One was fined by the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau for misleading millions of its customers, such as paying extra for payment protection or credit monitoring when they took out a card.[89] The company agreed to pay $210 million to settle the legal action and to refund two million customers.[90] This was the CFPB's first public enforcement action.[91]

Automated dialing to customers' phones[edit]

In August 2014, Capital One and three collection agencies entered into an agreement to pay $75.5 million to end a consolidated class action lawsuit pending in the United States District Court for the Northern District of Illinois alleging that the companies used an automated dialer to call customers' cellphones without consent, which is a violation of the Telephone Consumer Protection Act of 1991.[92] It is notable that this legal action involved informational telephone calls, which are not subject to the "prior express written consent" requirements which have been in place for telemarketing calls since October 2013.[93]

2014 amendment to terms of use to allow personal visits[edit]

In 2014, Capital One amended its terms of use to allow it to "contact you in any manner we choose", including a "personal visit . . . at your home and at your place of employment." It also asserted its right to "modify or suppress caller ID and similar services and identify ourselves on these services in any manner we choose."[94] The company stated that it would not actually make personal visits to customers except "As a last resort, . . . if it becomes necessary to repossess [a] sports vehicle".[94] Capital One also attributed its assertion of a right to "spoof" as necessary because "sometimes the number is 'displayed differently' by 'some local phone exchanges,' something that is 'beyond our control'".[95]

July 2019 security breach[edit]

Capital One publicly acknowledged on July 29, 2019, that they had found unauthorized access had occurred ten days earlier by an individual who had breached the account and identity security of 106 million people in the United States and Canada.[96] The FBI arrested Paige Thompson, who had previously worked as a software engineer for Amazon Web Services, Capital One's cloud hosting company. Capital One declared that Thompson had accessed about 140,000 Social Security numbers, a million Canadian social insurance numbers; 80,000 bank account numbers, and an unknown number of names and addresses of customers. Capital One began offering free credit monitoring services to those affected by the breach.[97][98]

Thompson's employment at Amazon appears to have ended in September 2016. Amazon stated that the security vulnerability she used to access Capital One could have been discovered by anyone, the information that facilitated her activity was not gained from work at Amazon, and that she gained access via "a misconfiguration of the (Capital One-designed) web application and not the underlying (Amazon-designed) cloud-based infrastructure".[99]

Details of the breach[edit]

Forensic analysis[vague] determined Thompson's actual hacking activity occurred in March 2019, then she posted the information to different outlets over the next three months. In April she posted what came to be known[by whom?] as the "April 21 Files", a trove of leaked data along with instructions on how to access the company's credentials for more data extraction. In July a white-hat alerted Capital One to Thompson's hacking activity. Thompson pleaded not guilty to charges of wire fraud and computer fraud and abuse. During the investigations and subsequent data freeze, millions of Capital One accounts were locked; their owners were unable to process financial transactions, meet payments, or gain access to their financial records.[100]

Capital One Response[edit]

Critics lambasted the bank's effort to downplay the hack while investigations were ongoing, and described the bank as more concerned about its image than the needs of its clients. Several Capital One customers stated that the first time they heard about the hack was through the media and the bank did not disclose the breach or explain its implications to affected customers.[101] On social media and in the mainstream press, Capital One's contradictory July 2019 press statement was mocked[102][103] for saying "No bank account numbers or Social Security numbers were compromised," but then listing hundreds of thousands of bank account numbers and social security numbers that were compromised.

Federal Reserve Action[edit]

On August 6, 2020, the Federal Reserve Board of Governors announced a cease and desist order against Capital One resulting from the breach.[104] The order mandated, among other things, significant improvements in Capital One's governance, risk management and compliance (GRC) practices.

Lawsuits[edit]

Lawsuits were filed against Capital One and its employees in federal[105] and circuit courts.[106]

Additional Lawsuits were filed against both Amazon and GitHub, alleging they were aware of the exploit but did not act to fix or patch the vulnerability[107]

Government investigations[edit]

Relative to other large banks, Capital One has received fewer sanctions or default judgments against it.[citation needed] But some[who?] allude this is a result of its close proximity to Washington, D.C. and possible relations with federal regulators.[citation needed] In 2015 the bank disclosed that it was under federal investigation for bank fraud, money laundering, and possible racketeering charges. No further information was given and government investigators would only confirm that it was under scrutiny for "unspecified charges".[108]

In 2018, Capital One was fined $100 million for failure to monitor, detect, and prevent money laundering.[109] Charging documents[110] specified Capital One failed to file suspicious activity reports, had deficiencies in its risk assessment, remote deposit capture and generally had weaknesses that compromised national bank security controls. The bank was the subject of a larger investigation that alleged funds were siphoned out of US jurisdiction to safe havens.

In January 2021 Capital one was fined $390 million by FINCEN for anti-money laundering control failure for a now-defunct, small portfolio of check-cashing businesses that Capital One acquired around 2008 which subsequently exited from in 2014. Capital One later admitted that it failed to file thousands of suspicious activity reports and lapsed on filing currency transaction reports on around 50,000 reportable cash transactions valued around $16 billion.[111][112]

Notable office buildings[edit]

References[edit]

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  81. ^Dosh, Kristi (November 3, 2013). "Capital One maximizing March's madness". ESPN.
  82. ^Hornblass, JJ (April 11, 2013). "Cap One Uses March Madness to Mine Customer Data, Even After Tournament". Bank Innovation.
  83. ^Steinberg, Dan (August 9, 2017). "Verizon Center to become Capital One Arena, starting now". The Washington Post.
  84. ^Medici, Andy (August 9, 2017). "Verizon Center to become Capital One Arena, starting now". American City Business Journals.
  85. ^Pimpo Jr., Stephen (May 27, 2018). "Capital One changes website logo to support Caps ahead of Stanley Cup finals". WJLA-TV.
  86. ^Brandt, Caroline (May 27, 2018). "Capital One Bank just made a Caps-themed update to its logo and we're here for it". NBC Sports.
  87. ^ ab"Doubt Over Capital One's Commitment to Philanthropy" (Press release). National Committee for Responsive Philanthropy. October 4, 2011. Archived from the original on March 6, 2014. Retrieved February 10, 2014.
  88. ^"Charity group wary of Capital One-ING merger". NBC News. Associated Press. October 5, 2011.
  89. ^"Capital One fined for misleading millions of customers". BBC News. July 18, 2012.
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  91. ^"Capital One to pay $210 million in fines, consumer refunds". CNN. July 18, 2012.
  92. ^Dale, Margaret A. (August 19, 2014). "Capital One to Pay Largest TCPA Settlement on Record". The National Law Review. Proskauer Rose. ISSN 2161-3362.
  93. ^Slawe, Meredith C.; Madway, Brynne S. (August 11, 2014). "Capital One Agrees to $75 Million Telephone Consumer Protection Act (TCPA) Settlement". The National Law Review.
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    Comenity Direct Review: Competitive Interest Rates from a Known Retail Store Card Provider

    Reviews / Banking

    GOBankingRates Score

    Our Take: Comenity Capital Bank is best known for the retail store credit cards it issues for retailers such as Victoria's Secret, Wayfair and Williams Sonoma. But you can access more than credit from the financial institution through its Comenity Direct banking arm. This in-depth Comenity Direct review will highlight how the banking side works and if it's the right choice for you.

    • Customer Service
    • Fees
    • Interest Rates
    • Opening Deposit Requirements

    How did we calculate this?

    Pros

    • High-yield savings account pays 0.60% APY
    • Two-year CD rate is 0.75% APY
    • Winner of Purdue University's BenchmarkPortal for excellence 15 times in a row for customer service
    • The savings account has very few fees and a low opening balance of $100
    • Direct deposit available

    Cons

    • No checking account available
    • Customer service is only available by phone
    • No debit cards offered

    About Comenity Direct

    Comenity issued its first credit card in 1986. Today, it partners with 160 of the top retailers to issue co-branded and private label store cards. In 2018, Comenity added banking services, known as Comenity Direct, to provide low-fee, high-yield savings and CD accounts that are FDIC-insured. There are no physical branch locations, but customers can handle their banking needs through the website, mobile banking app or by calling customer care. Notably, GOBankingRates has ranked Comenity Direct as one of the Best Online Banks of 2021, as well as one of the Best Savings Accounts and Best CD Accounts of 2021, in its yearly rankings.

    Comenity Direct Products

    Comenity Direct focuses on savings products. Here’s a list of banking services that are available at this time.

    TypeProduct Details
    Savings
    Certificates of Deposit (CDs)
    • Earn 0.60% to 0.90% APY
    • Annual terms of one, two, three, four or five years
    • $1,500 minimum opening deposit

    What makes the savings account and CDs at Comenity Direct worth considering? Interest rates that are higher than what some of the top brick-and-mortar banks are offering might be the top feature. But there’s more.

    Comenity Direct Savings Account

    Comenity Direct has only one high-yield savings account option, but the simplicity of the product should suffice for most account holders. Since there are no branch locations, you’ll need to feel comfortable doing your banking online or using a mobile app. If so, you’ll be able to deposit checks, transfer funds and manage your money at any time — day or night. Additionally, GOBankingRates has ranked it as one of the Best Savings Accounts of 2021.

    Features

    • Fees limited to those for wire transfers, paper statements and official checks
    • Mobile check deposit available
    • Direct deposit available

    Pros:

    Cons:

    • Limited to six withdrawals per month
    • The only types of withdrawals available are transfers to another bank account.

    Comenity Direct CD Accounts

    A certificate of deposit can be useful when you need a guaranteed interest rate for your funds and you won’t need to access the balance for a set period of time. Comenity Direct provides a few term lengths to make accelerated savings growth possible. The longer you leave your money in a CD, the more interest you’re likely to earn. GOBankingRates has ranked it as one of the Best CD Accounts of 2021.

    Features

    • Earn 0.60% to 0.90% APY
    • Five term lengths available: one, two, three, four and five years

    Pros

    • No fees, except for wire transfer, paper statements and official checks
    • Automatic renewal is available
    • Interest compounds daily

    Cons

    • $1,500 minimum opening balance is required
    • Penalties of 180 to 365 days of simple interest apply if you withdraw early

    Before you apply, compare how Comenity Direct’s rates compare with the best CD rates from other banks.

    Banking Experience

    A typical Comenity Direct review from customers explains that you’re getting a no-frills experience. You won’t have access to perks, rewards or bank branches, but you’ll be earning higher interest on your savings accounts.

    Customer Service

    Comenity prides itself on top-shelf customer care. Although the only way to access customer service is by phone, representatives provide a good experience — Comenity Direct has won Purdue University’s BenchmarkPortal for customer service excellence 15 times in a row.

    Accessibility and Branch Availability

    There are no branches available, so you’ll need to get comfortable handling your savings accounts via the website or mobile app. This isn’t necessarily a bad thing. Making it less convenient to access your savings account means you might be tempted to spend less, helping you to grow your money faster.

    Mobile and Digital Experience

    Online banking is available through the Comenity Direct website, or you can use Comenity Direct’s mobile app, which is available for both iOS and Android. The Comenity Direct review at the Google Play Store for the app is average, with just less than 3 out of 5 stars. iPhone and iOS users seem happier with the app, awarding it 4.5 out of 5 stars. Some of the banking functions you can complete using the Comenity Direct app include:

    • Managing your account
    • Viewing balances and history
    • Making money transfers
    • Setting up account alerts
    • Depositing checks

    Your personal information is safe, thanks to encryption, authentication and round-the-clock monitoring of your account activity for the website. Touch ID and PIN code sign-in using your fingerprint or passcode are available through the mobile app.

    How To Open an Account

    According to Comenity Direct, opening an account online takes minutes. You’ll need to be at least 18 years of age, have a valid U.S. Social Security Number and provide a physical U.S. residential address.

    Follow these steps:

    1. Click on “Open an Account.”
    2. Set up a login and password.
    3. Provide an email address.
    4. Upload a government-issued photo ID.
    5. Enter your Social Security number.
    6. Provide a U.S. residential address.
    7. Answer some questions to verify your identity.
    8. Fund your account by setting up a transfer using a current bank account and routing number.

    Key Information

    Customer Service Number: 1-833-755-4354, weekdays 7 a.m. to 11 p.m. CST and weekends 9 a.m. to 5 p.m. CST

    Routing Number: 124085325

    Comenity Direct Fees

    You won’t have to worry about many bank charges, such as overdraft fees when you bank with Comenity Direct. There are no monthly maintenance, ACH or incoming wire transfer fees. The bank promises no surprise fees. The only charges from Comenity Direct are for:

    • Outgoing wire transfer: $25
    • Official check request: $15
    • Paper statement: $5

    Comenity Direct vs. Competitors

    Comenity Direct is a good option when need to establish an emergency savings fund or want to save for a reason, such as a down payment on a home. But how do its highly focused banking services compare to similar banks?

    BankBest For
    Comenity DirectHigher-earning CDs
    Ally BankInterest-earning checking and savings accounts
    Vio BankHigher-yield savings account
    Marcus by Goldman SachsThe flexibility of savings and loans in one place

    Comenity Direct vs. Ally Bank

    Comenity Direct is a solid low-fee savings account contender but falls short in the breadth of products. If you’re in search of a bank that offers both low-fee, interest-bearing checking and savings, Ally Bank is the better option.

    Comenity Direct vs. Vio Bank

    Vio Bank provides similar products to Comenity. Vio Bank’s savings rate is higher at 0.51% APY compared to Comenity’s 0.60% APY. For CDs, Comenity Direct pays you more.

    Comenity Direct vs. Marcus by Goldman Sachs

    Comenity’s high-yield savings account pays higher interest than Marcus’ current 0.50%. One advantage Marcus has over Comenity is its loan offerings. Marcus offers no-fee unsecured personal loans of $3,500 to $40,000. Depending on your credit score, fixed rates are between 6.99% and 19.99% APR for three- to six-year terms.

    Final Take

    There are plenty of good reasons to separate your checking and savings accounts. One of the main reasons may be simply to avoid spending the funds by taking away the easiest access. Comenity Direct’s savings and CDs are high-yield and only allow for limited transfers each month. There are no monthly maintenance fees — open more than one account to save for different goals. And best of all, opening an account is simple and can be done in just a few minutes to start saving right away.

    More Banks With Competitive Rates

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    Editor’s Favorite

    Interest rates are at historically low levels, making it hard to earn anything significant on your cash. Comenity Direct pays APY on the high yield savings account, regardless of your balance.

    Comenity Direct FAQ

    Here are the answers to some commonly asked questions about Comenity Direct.
    • Are Comenity Direct and Comenity Capital Bank the same?
      • Savings accounts and CDs are available through Comenity Direct, a brand of Comenity Capital Bank.
    • Is Comenity Direct FDIC insured?
    • Does Comenity Direct offer free money for signing up for an account?
      • Many banks provide enticing cash bonuses to earn your business. Comenity does not offer any cash signup bonuses at this time.

    Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 16, 2020.

    This content is not provided by Comenity Direct. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Comenity Direct.

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    About the Author

    Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.

    Источник: https://www.gobankingrates.com/reviews/comenity-bank/

    Comenity credit cards: Which one is best for you?

    {"menuItems":[{"label":"Compare store cards issued by Comenity","anchorName":"#compare-store-cards-issued-by-comenity"},{"label":"How to apply for a Comenity credit card","anchorName":"#how-to-apply-for-a-comenity-credit-card"},{"label":"Types of a Comenity credit cards","anchorName":"#types-of-a-comenity-credit-cards"},{"label":"Standout benefits of a Comenity card","anchorName":"#standout-benefits-of-a-comenity-card"},{"label":"Full list of Comenity credit cards","anchorName":"#top"}]}

    Use our table to browse all Comenity-issued cards. You can compare them in terms of rewards, annual fee and interest rates. If you want to know more about each card, check out our review.

    Data updated regularly

    Comenity is a financial services company that helps retailers produce one-of-a-kind credit cards. It’s the issuing bank behind more than 150 products that include the Forever 21 Credit Card and the Hot Topic Guest List Credit Card.

    In fact, if you’re ever offered a store credit card, you may indirectly come into contact with Comenity. It’s been around for 30 years and boasts 50 million customers.

    To apply for a Comenity card, visit the Comenity website and click Apply now.

    Eligibility criteria

    • Must be at least 18 years old
    • Must have a residential US address

    Information you’ll need

    To complete the application, provide your:

    • Name and residential address
    • Social Security number
    • Email address, phone number and date of birth
    • Financial information such as annual income and income source

    Comenity mostly focuses on store credit cards, adding a smattering of cards in the medical, education, hotel, auto and financial industries. Most of them can’t be used outside the store, but those that are Visa or Mastercard can be used everywhere.

    Comenity Bank offers only one cashback card, which is on par with similar card products offered by large banks, such as Amex or Capital One. Unfortunately, you won’t find balance transfer cards, travel cards or student cards.

    Standout benefits of a Comenity card

    • Store cards. Most Comenity cards are store cards, meaning all rewards you earn with these cards apply only to the specific store. Aside from rewards, most of these cards come with additional benefits at the store, such as special deals and discounts. Keep in mind, some store cards can’t be used outside the store to buy groceries, gas or make travel purchases.
    • Cashback card. The single Comenity Bank cashback product earns unlimited 1.5% back on all purchases, which is in line with competitor cards from American Express, Capital One and Wells Fargo.

    Who can apply for a Comenity card?

    Comenity cards are typically more accessible than other unsecured credit cards. While other cards can require a good credit score or higher, you can often get a Comenity product with fair credit.

    Beyond making it more fun to shop at your favorite stores, a Comenity card can help you raise your credit score and they come with no annual fees.

    • Abercrombie & Fitch
    • American Home
    • American Kennel Club
    • Ann Taylor
    • Appleseed’s
    • Arhaus Archarge
    • Ashley Stewart
    • Avenue
    • Barney’s New York
    • Bealls Credit Card
    • Bed Bath & Beyond® Mastercard® Credit Card
    • Bedford Fair
    • Big Lots
    • BJ’s
    • Blair
    • Blue Nile
    • Boscovs
    • Boston Store Credit Card
    • BrylaneHome
    • Buckle
    • Burkes Outlet
    • Camping World/Good Sam
    • Caesars Rewards Visa® Credit Card
    • Catherines
    • Chadwicks of Boston
    • Children’s Place
    • Christopher & Banks
    • Colombian Emeralds
    • Crate & Barrel
    • David’s Bridal
    • Draper’s & Damon’s
    • DSW
    • Eddie Bauer
    • El Dorado Furniture
    • Express Next
    • Forever 21 Credit Card
    • FULLBEAUTY
    • GameStop
    • Gardner-White
    • Gordmans
    • Haband
    • Home & Garden Showplace
    • Hot Topic Guest List Credit Card

    Comenity is a big player in store credit cards. If you’ve ever applied for a store credit card, you might have interacted with the company in some way.

    If you’re not sure whether a Comenity product is right for you, compare other store cards or other rewards cards to find the right choice for your financial situation.

    How does Comenity keep my credit card information secure?
    Its Account Protection team monitors accounts 24/7 and will notify you if it spots unusual activity on your account. Comenity uses Secure Socket Layer (SSL) software to encrypt your data. It also uses a digital certificate so you can be sure you’re interacting with the real Comenity website and not a third-party site.

    Can I use a Comenity store credit card outside of the retailer it’s issued for?
    Typically, no. But if your card is cobranded with a payment network like Visa or Mastercard, you may be able to use it outside of the retailer it’s issued for.

    Why don’t I need an excellent credit score to apply for a Comenity store card?
    Most retailers approve cardholders who have at least a fair credit score to encourage shopping at their stores. This means they’re usually more lenient on extending credit.

    Источник: https://www.finder.com/credit-cards/comenity-credit-cards

    THIS PLAN IS NOT INSURANCE and is not intended to replace health insurance. This plan does not meet the minimum creditable coverage requirements under M.G.L. c.111M and 956 CMR 5.00. This plan is not a Qualified Health Plan under the Affordable Care Act. The range of discounts will vary depending on the type of provider and service. The plan does not pay providers directly. Plan members must pay for all services but will receive a discount from participating providers. The list of participating providers is at smilegenerationdentalplan.com for dental providers and smilegen.solutionssimplified.com for vision providers. A written list of participating providers is available upon request. You may cancel within the first 30 days after effective date or receipt of membership materials (whichever is later) and receive a full refund, less a nominal processing fee (nominal fee for MD residents is $5, AR and TN residents will be refunded processing fee). Discount Plan Organization and administrator: Careington International Corporation, 7400 Gaylord Parkway, Frisco, TX 75034; phone 800-441-0380.

    This plan is not available in Vermont or Washington.

    **For new accounts, as of June 2021 Variable Purchase APR of 26.99% based on the Prime Rate. Minimum Interest Charge is $1 per Credit Plan.
    Credit card offers are subject to credit approval.
    Smile Generation Financial Credit Card Accounts are issued by Comenity Capital Bank

    Источник: https://www.mykidsdentisttiffanysprings.com/dental-payment-options-fubar.html

    Comenity Direct

    If you’ve opened a high-yield savings account or CD with the Comenity Direct online bank, this app is for you. With it, you can maximize your savings by doing all your banking on the go.

    Ready to download the app? Please sign in with your online banking username and password.

    Want more information? Here’s everything you can do with this Comenity Direct app:

    • Access your savings or CD accounts quickly and securely. Touch ID and PIN authentication allow sign-in using your fingerprint or personal passcode.

    • Monitor your activity. View your account balances and transactions, all in one place.

    • Make deposits with mobile check capture. Use your phone’s camera to snap a picture of your check – easy as can be!

    • Transfer funds effortlessly. Generate one-time or repeating automatic transfers to other linked bank accounts.

    • Have it your way. Customize your interface and add your own tags, images and notes to create a personalized banking experience.

    • Get your questions answered. Speak with Comenity Direct Customer Care at the touch of a button.

    Hey, if you’ve got a Comenity-branded credit card and you’re looking to make payments to your account, we’re sorry, this app isn’t for you. Instead, Comenity credit card customers can go to Account Center for everything related to your account.

    Источник: https://play.google.com/

    Credit & Debit Cards

    Add Convenience to Your Purchasing

    It has never been easier to connect with retailers. Whether you want to make your purchases in-person, online or in an app, your debit and credit cards give you the ability to complete purchases easily and securely. At Capital Bank, we offer a wide range of credit and debit card options, each offering a wide range of benefits that go beyond making purchases convenient.

    Capital Bank Debit Cards

    If you want to add the convenience of using a card for your purchases, but don’t want to take on any debt, a debit card is a great option. Capital Bank’s debit cards offer several benefits, and give you the ability to earn rewards on your purchase with uChoose Rewards. Our debit card benefits include:

    • No annual fees
    • Earn points on your credit or signature-based transactions for uChoose Rewards
    • No ATM fees when used at Capital Bank ATMs
    • EMV-chip technology for enhanced security on purchases

    To learn more about the benefits available with uChoose Rewards, and how you can enroll, please click the button below.

    uChoose Rewards® Program

    CardValet® Services

    Give yourself more control over your cards with CardValet. From offering enhanced security to giving you the ability to turn your card on and off, CardValet is a valuable tool that protects your cards. You can learn more about the benefits of CardValet by watching the video below.

    Interactive Video Player

    You can download the CardValet app to your smartphone by clicking the icon for your app store below.

    Capital Bank VISA® Credit Cards

    When used responsibly, credit cards are a valuable tool. Not only do they help you make purchases, but they can build your credit history and credit score. Capital Bank offers several Visa® credit card options. Whether you want a credit card that offers a low introductory rate, or a card that allows you to earn points for rewards, we have a credit card for you. The list of credit cards we offer include:

    • Visa® Platinum Credit Card
    • Visa® Platinum Rewards Credit Card
    • Visa® Secured Platinum Credit Card
    • Visa® Platinum Cash Rewards Credit Card
    • Visa® Signature Travel Credit Card 

    If you'd like to compare the benefits of each of these cards and start your credit card application, click the button below to get started. 

    Compare Our Credit Cards

    To report a lost or stolen card, please contact us at (800) 836-3711 during normal business hours. After hours, please contact (800) 472-3272.

    Источник: https://www.capitalbank.com/personal-banking/credit-debit-cards

    Comenity capital bank credit card list -

    You might have never heard of Comenity, but you could actually have a credit card issued by this bank. Over 50 million Americans have a card issued by Comenity, one of the top providers of retail store credit cards (Synchrony Bank is the other big name for store cards).

    How Do I Log In To My Comenity Bank Account?

    Use the above link to search for your branded card account, and then follow the resulting link to log in to your credit card account. From there, you can make credit card payments, see your account features, and contact customer support.

    Looking for your specific Comenity card? Jump to our full list of Comenity credit cards.

    How Do I Contact Comenity Bank?

    You can reach Comenity at the following phone numbers, or follow the links for more information:

    About Comenity Credit Cards

    “Comenity” may refer to either Comenity Bank or Comenity Capital Bank, which are both owned by Alliance Data. As far as the average cardholder is concerned, there’s no difference between Comenity Bank credit cards and Comenity Capital Bank cards.

    The vast majority of Comenity credit cards are co-branded with retail stores, although some credit programs are co-branded with other types of companies: travel services, gas stations and auto dealers, healthcare providers, and financial institutions.

    Most Comenity cards are closed-loop or private label, meaning you can only use them at the co-branded company. Others are open-loop and networked with Visa, Mastercard, or Discover, meaning you can use them anywhere those cards are accepted.

    Co-branded credit cards have rewards programs and perks that are focused on the partner company. They often provide a discount on your first purchase after being approved, like 20% off, and birthday gifts are pretty common too, especially with fashion retailers. If the card is networked, meaning it has a Visa, Mastercard, or Discover logo, it may also offer bonus categories that let you earn rewards points or cash back on other types of purchases.

    Should I Get a Comenity Credit Card?

    If you’re not a devoted fan of a particular retailer or company, spending money with it consistently throughout the year, you’re probably not a good fit for its co-branded credit card. Instead, you’ll probably be better off with a general-use reward credit card. Some store cards offer special financing, however, and if you have your eye on a particular item you may want a store card to get some time to pay it off interest-free (these are usually deferred-interest financing offers, so be sure to pay them off responsibly).

    Comenity credit cards are known for being easy to get (which is one reason why Comenity has over 50 million cardholders). This is true in general for all store cards, and it makes them attractive for people with no credit, limited credit, or bad credit, who have trouble being approved for the best general-use reward cards. These cards are often marketed at checkout lines, tempting people with a quick discount, but this is not a good time to make serious financial decisions (and many who apply for retail credit cards regret it altogether, according to our 2020 retail credit card survey).

    Whether you apply online or in store, Comenity will usually pull a credit report from Equifax or Experian, or both, to evaluate your creditworthiness.

    Once you’re approved, Comenity will report your credit account activity, both positive and negative, to all three consumer credit bureaus — Equifax, Experian, and TransUnion.

    There’s usually no annual fee, but credit lines generally start out small, like $500 or $1,000 (although credit limit increases are possible). High interest rates are common, so you’ll never want to carry a balance on a Comenity credit card (or any card for that matter, unless you have a 0% rate). If you carry a balance, the interest charges will quickly eat away at any rewards you earn with the card.

    Be sure to pay your statement balance in full each month to avoid interest on your purchases.

    Most Comenity cards can’t be used for balance transfers or cash advances.

    How Is Comenity’s Customer Support and Payment Processing?

    We’ve received many negative reports about Comenity credit cards. Comenity has a relatively high number of complaints compared to other card issuers, which are mostly focused on payment processing, administrative errors, and issues dealing with customer support.

    Many people have reported that their payments were delayed or never arrived when they were supposed to, resulting in fees and damage to their credit scores. Others have had confusing interactions with customer service agents, who sometimes come off as rude.

    A particularly damning report is that there is no autopay feature for at least some Comenity credit cards. This is a pretty big red flag because we usually recommend setting up automatic payments to avoid being late.

    Although every credit card company gets its share of complaints, we recommend being wary of Comenity credit cards. If you use one, be sure that your payment details are up to date. We suggest paying off your Comenity cards very early, well ahead of the due date. You could pay your statement balance as soon as you get your monthly billing statement, or, to play it even safer, you could make payments throughout the month after making purchases with the card.

    How Do I Pay My Comenity Credit Card?

    Got a Comenity credit card, and trying to figure out how to pay it off?

    You can go to Comenity’s website and search for your credit card account. Then you’ll be able to log in and make payments.

    What Is the Shopping Cart Trick?

    The shopping cart trick is rumored to let you be approved for certain credit cards without a hard inquiry on your credit reports, also known as a hard credit pull. Instead it only results in a soft inquiry. Some Comenity cards are supposed to work with this trick, as well as some other store cards from Synchrony Bank and Wells Fargo.

    Basically, you fill up an online shopping cart according to these instructions and wait for a pop-up featuring your credit card offer. You don’t have to buy anything.

    It’s unclear whether or not this method actually works. It may only provide a credit card pre-approval, which means you’re likely to be approved if you apply. If it does work, it could be a good way for people with bad credit to get approved for cards. The credit limits of cards received with this trick are reportedly quite small.

    Many people claim they’ve been approved for store cards without hard inquiries, while others try the trick and find that a hard inquiry was actually performed. For those who claim it worked, it’s possible that they just didn’t check the specific credit report that the card issuer used for the inquiry. There are three major credit bureaus that create credit reports — Equifax, Experian, and TransUnion — and card issuers can run hard inquiries on any of them. So, for example, if an issuer does a hard pull on your Experian credit report but you only check your TransUnion report, you won’t see the hard inquiry even though one was made.

    The shopping cart trick, if it works, doesn’t guarantee that anyone with any level of credit can be approved for a card. Instead it purports to only rely on a soft credit inquiry, which means the issuing bank takes a look at your credit and sees that you meet its standards for approval. So your credit is still used to make the decision, although a hard inquiry supposedly won’t be made.

    With all that being said, some credit card blogs and travel hackers still swear by the shopping cart trick. So here it is, but beware: It could very well result in a hard inquiry, just like any other normal credit card application.

    The Shopping Cart Trick

    1. Make sure that you’re opted in for credit card promotional offers (you’re opted in by default, unless you manually opt out)
    2. Turn off your web browser’s popup blocker
    3. Clear your web browser’s cache
    4. Go to the website of the store you’re interested in (some say joining the loyalty program of the store will increase your odds of getting an offer)
    5. Add items to the store’s shopping cart (some say getting around $100 of merchandise works best)
    6. Begin the checkout process, using the same address and personal details as on your credit reports
    7. Continue the checkout process until you get to the final page, without buying anything
    8. Wait for a credit card offer to appear; if an offer doesn’t appear, close your browser and repeat steps 3 to 8

    According to internet scuttlebutt, if you get a request to enter just the last four digits of your SSN, you might not get a hard inquiry for the application. But if you’re asked to enter your full SSN, you’re likely to get a hard inquiry. So if you’re trying this trick and you get a request for your full SSN, you may want to close your browser and try again.

    Comenity Bank Retail Store Credit Cards

    Take note that some of the Comenity credit cards in the following tables are discontinued for new applicants (marked by a *), although you can still use the links below to log in to your account, to see details and make payments. In some cases the cards were discontinued for current cardholders as well, meaning your account would have been closed. If that happened you should have received a notice; you can follow your card’s link to learn more.

    Or, your card account may have been transferred to a different issuer, like Synchrony.

    Comenity Bank Travel Credit Cards

    Comenity Bank Gas & Auto Credit Cards

    Comenity Bank Medical Credit Cards

    Comenity Bank Finance & Insurance Credit Cards

    Comenity Bank Miscellaneous Credit Cards

    Ready to find the perfect new credit card? Take a look at our favorites in a variety of categories in The Best Credit Cards.

    Written by

    Brendan Harkness

    Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high-quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.

    More articles

    Do you have a correction, tip, or suggestion for a new post? Contact us here.

    The responses below are not provided or commissioned by bank advertisers. Responses have not been reviewed, approved or otherwise endorsed by bank advertisers. It is not the bank advertisers' responsibility to ensure all posts are accurate and/or questions are answered.

    Источник: https://www.creditcardinsider.com/credit-cards/comenity-bank/

    THIS PLAN IS NOT INSURANCE and is not intended to replace health insurance. This plan does not meet the minimum creditable coverage requirements under M.G.L. c.111M and 956 CMR 5.00. This plan is not a Qualified Health Plan under the Affordable Care Act. The range of discounts will vary depending on the type of provider and service. The plan does not pay providers directly. Plan members must pay for all services but will receive a discount from participating providers. The list of participating providers is at smilegenerationdentalplan.com for dental providers and smilegen.solutionssimplified.com for vision providers. A written list of participating providers is available upon request. You may cancel within the first 30 days after effective date or receipt of membership materials (whichever is later) and receive a full refund, less a nominal processing fee (nominal fee for MD residents is $5, AR and TN residents will be refunded processing fee). Discount Plan Organization and administrator: Careington International Corporation, 7400 Gaylord Parkway, Frisco, TX 75034; phone 800-441-0380.

    This plan is not available in Vermont or Washington.

    **For new accounts, as of June 2021 Variable Purchase APR of 26.99% based on the Prime Rate. Minimum Interest Charge is $1 per Credit Plan.
    Credit card offers are subject to credit approval.
    Smile Generation Financial Credit Card Accounts are issued by Comenity Capital Bank

    Источник: https://www.mykidsdentisttiffanysprings.com/dental-payment-options-fubar.html

    Comenity Bank credit cards

    When you think of a retail credit card, you most likely think of the brand it’s associated with. Many stores – from Pottery Barn 21 to Big Lots to BJ’s – offer such cards, but retailers aren’t issuing them. Most of the time, these cards are issued by the banks they’re partnered with.

    There are a few credit card issuers that specialize in retail credit cards, and Comenity Bank is one of the biggest. Read on to learn about its offers and whether they’re a good choice for you.

    What is Comenity Bank?

    Comenity Bank might not be a household name like American Express or Chase, but it’s a major credit card issuer that focuses on store credit cards. It’s currently partnering with more than 145 retailers and serving over 50 million cardholders. Besides credit cards, Comenity Bank also offers high-yield savings accounts and certificates of deposit.

    Since retail credit cards are typically easier to qualify for even if your credit isn’t in the best shape, Comenity Bank cards can be a credit-building option. Additionally, you might want to consider some of their offers if there’s a retailer you regularly shop at or are looking to make a big purchase from.

    What stores partner with Comenity Bank?

    With so many partnering stores, Comenity Bank offers a great variety of store credit cards, including online stores, clothing shops, furniture stores and more.

    Below, you can find the list of retail credit cards that Comenity Bank is currently offering.

    • AKC Visa Credit Card
    • ALL Rewards Credit Card
    • ALL Rewards Mastercard
    • Appleseed’s Credit Card
    • Appliances Connection Credit Card
    • Archarge Credit Card
    • Ashley Stewart Credit Card
    • Avenue Credit Card
    • Ballard Designs Credit Card
    • Bealls Florida Credit Card
    • Bealls Outlet One Credit Card
    • Bed Bath & Beyond Mastercard
    • Big Lots Credit Card
    • BJ’s Perks Plus Mastercard
    • BJ’s Perks Elite Mastercard
    • Blair Credit Card
    • Blue Nile Credit Card
    • Boscov’s Credit Card
    • Brylane Home Platinum Credit Card
    • Buckle Credit Card
    • Build.com Credit Card
    • Burlington Credit Card
    • Burkes Outlet One Credit Card
    • Good Sam Rewards Visa Credit Card
    • Carter’s Credit Card
    • Catherines Credit Card
    • C21STATUS Credit Card
    • My Place Rewards Card
    • Christmas Tree Shops andThat! Mastercard
    • Christopher & Banks Credit Card
    • Cost Plus World Market Mastercard
    • David’s Bridal Credit Card
    • Diamonds International Credit Card
    • Draper’s & Damon’s Credit Card
    • DSW Visa
    • Eddie Bauer Credit Card
    • El Dorado Furniture BLUCard Credit Card
    • Express NEXT Credit Card
    • Express NEXT A-List Credit Card
    • Floor & Decor Credit Card
    • Forever 21 Credit Card
    • Forever 21 Visa Credit Card
    • FullBeauty Platinum Credit Card
    • Gardner-White Premier Credit Card
    • Gordon’s Jewelers Credit Card
    • Grandin Road Credit Card
    • Haband Credit Card
    • Harmon Face Values Mastercard
    • Hot Topic Guest List Credit Card
    • Houzz Credit Card
    • Iddeal Credit Card
    • IKEA Projekt Credit Card
    • IKEA Visa Credit Card
    • J.Crew Credit Card
    • J. Jill Credit Card
    • Jessica London Platinum Card
    • KingSize Platinum Credit Card
    • Lane Bryant Credit Card
    • Little Switzerland Credit Card
    • LUCKY BRAND Rewards Credit Card
    • Mayors Credit Card
    • RUNWAYREWARDS Credit Card
    • Overstock Store Credit Card
    • Petland Credit Card
    • Piercing Pagoda Credit Card
    • Pottery Barn Credit Card
    • Pottery Barn Kids Credit Card
    • RH Credit Card
    • Talbots Credit Card
    • The Tile Shop Credit Card
    • Torrid Insider Credit Card
    • Trek Credit Card
    • Ultamate Rewards Credit Card
    • Ultamate Rewards Mastercard
    • Venus Credit Card
    • Victoria’s Secret Angel Card
    • Vitacost Healthy Perks Mastercard
    • west elm Credit Card
    • Woman Within Platinum Credit Card
    • The Diamond Card

    Note that this list only contains cards Comenity Bank is offering at the moment. Other cards might be still available to previous cardholders, but closed for new applications.

    Find card offers for you: Some of the credit card offers on this page are no longer available on CreditCards.com, but you can still find a great card offer for you! Our CardMatch tool can help match you with prequalified offers and cards that align with your credit history – with no harm to your credit score. Get personalized offers from our partners in seconds.

    Other Comenity Bank offers

    While Comenity Bank is mostly known for retail credit cards, it partners with other types of businesses as well. For example, you can find a few travel rewards cards among the issuer’s offers, a couple of auto cards, medical cards and even an insurance credit card that allows you to rack up rewards while paying for your coverage.

    Here’s a list of non-retail Comenity offers:

    • Interval World Mastercard
    • Orbitz Rewards Visa Credit Card
    • Total Rewards Visa Credit Card
    • Westgate Rewards Mastercard
    • Worldwide Vacation & Travel Mastercard
    • Lexus Pursuits Visa
    • Toyota Rewards Visa
    • ALPHAEON Credit Card
    • My Smile Care Credit Card
    • Smile Generation Credit Card
    • Farmers Rewards Visa Credit Card
    • Caesars Rewards Visa Credit Card
    • mycash Mastercard

    Most popular Comenity Bank cards

    With such a variety of products available, there are many Comenity Bank credit cards you might be considering depending on your shopping habits.

    While it’s best to take your brand preferences and credit health into account when choosing a retail card, here are some Comenity Bank cards that are most popular among consumers.

    Victoria’s Secret Angel credit card

    If you’re a loyal Victoria’s Secret fan who never misses out on a deal from this lingerie retailer, the Victoria’s Secret Angel credit card can be worth looking into.

    Victoria’s Secret Angel cardholders get 3 points per dollar on Victoria’s Secret bra purchases and 1 point per dollar on other Victoria’s Secret purchases. The card has a tier system based on yearly spend, with higher tiers getting better deals and benefits. Depending on the tier, members can enjoy $10 or $15 certificates issued for every 250 points, free shipping, birthday gifts and access to exclusive events.

    IKEA Visa Credit Card

    If you find yourself shopping at IKEA often, the IKEA Visa Credit Card may be worth considering.

    The card offers 5% back in rewards dollars on U.S. IKEA store and IKEA.com purchases, Traemand installation and TaskRabbit assembly services, as well as 3% back on dining, grocery and utility purchases and 1% back on all other purchases.

    The 3% rate in such popular spending categories outside of IKEA is a notable feature. Many store cards only reward you for spending in their respective stores, making it harder to reap the benefits.

    On top of that, cardmembers get free delivery, auto rental protection and automatic enrollment in the IKEA Family loyalty program.

    BJ’s Perks Elite Mastercard

    Frequent BJ’s shoppers can benefit from signing up for the BJ’s Perks Elite Mastercard – which offers a generous 5% cash back rate on eligible in-club and online purchases at BJs.com. To maximize rewards, you can also take advantage of 2% on dining and non-BJ’s gas purchases and 1% on other purchases.

    On top of that, cardholders get a 10-cent-per-gallon discount on BJ’s gas and can save with exclusive deals and free shipping on eligible items.

    How to apply for a Comenity Bank card

    The easiest way to apply for a credit card from Comenity Bank is to do so online. Search the card name, and find a link to the retailer site or Comenity’s website. From there, click “Apply Now” and provide the required information.

    Comenity apply

    You can also apply for the majority of these cards in-store. The cashier may ask you if you’d like to sign up for the card when you’re checking out, or you can simply request to fill out the application.

    Final thoughts

    Comenity Bank offers a wide range of retail credit cards, as well as a few other credit card products. A store credit card can be a way to build your credit due to more relaxed credit requirements and help you rack up rewards in the stores you frequent.

    However, before you apply for a Comenity Bank credit card, make sure it’s a good option for you. Store credit cards offer some of the highest interest rates, and credit limits are typically on the lower side. At the end of the day, such cards may only be a good choice for brand enthusiasts. Those interested in rewards might be better off with a general rewards card, and even if your credit isn’t in the best shape, you still may find other options.

    Editorial Disclaimer

    The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

    Ana Staples is a staff reporter and young credit expert reporter for CreditCards.com and covers product news and credit advice. She loves sharing financial expertise with her reader and believes that the right financial advice at the right time can make a real difference. In her free time, Anastasiia writes romance stories and plans a trip to the French Riviera she'll take one day—when she has enough points, that is.

    Источник: https://www.creditcards.com/credit-card-news/comenity-bank-credit-cards/

    How to cancel a credit card

    Editor’s note: This post has been updated with new information.


    Deciding whether to cancel a credit card isn’t a quick and easy decision — or at least it shouldn’t be. You need to weigh a number of factors to make sure that closing your account doesn’t have unintended consequences.

    Knowing when to cancel a credit card (and when to keep an account open) is critical to your long-term success as a points and miles enthusiast. This knowledge is just as necessary as learning how to take advantage of attractive new credit card offers.

    While it’s usually best to leave your credit cards open, if you have a reason for canceling a credit card (such as closing a joint account during a divorce or setting yourself up to potentially re-earn a sign-up bonus later), the process doesn’t have to be complicated. We outline everything you need to know below.

    New to The Points Guy? Sign up for our daily newsletter and check out our beginner’s guide.

    In This Post

    Should I cancel my credit card?

    Before you close any credit card, it’s essential to ask the following questions:

    Will closing this card raise your credit utilization rate?

    Credit utilization describes the relationship between your credit card limits and balances. If closing a card causes your overall credit utilization to climb, your credit scores might decline. Lower credit scores could make it harder to qualify for new accounts and might lead to higher interest rates on new credit in the future.

    Has the account been open for more than one year?

    You should never close your credit card before the one-year mark. Card issuers aren’t fans of people who open credit cards just to score a sign-up bonus and don’t turn into valuable customers. American Express, in particular, may claw back your bonus or even close your account if it thinks you’re trying to game the system.

    Is there an annual fee on the account?

    If not, there’s usually little to no benefit to closing the account. On the other hand, keeping the card open might be suitable for your credit scores in the long run, especially if you manage the account responsibly.

    Can you downgrade to a no-annual-fee option?

    If you’re closing a credit card because you’re not getting enough value to offset the annual fee, consider asking the card issuer to downgrade your account. By downgrading your card to a different product — such as from the Capital One Venture Rewards Credit Card down to the Capital One VentureOne Rewards Credit Card with no annual fee — you might protect your credit. But know you’ll be taking a hit when it comes to card perks.

    Will the card issuer offer you a retention offer?

    Card issuers offer sign-up bonuses to attract new customers. Those same issuers may also be willing to extend a retention offer if you’re thinking about canceling a card due to its high annual fee. If a retention offer is available, it might make sense to keep a card you were intending on closing.

    How to cancel a credit card

    After all these considerations, if you’re still intent on canceling your credit card, here are all the steps you’ll need to take.

    Plan your exit strategy

    If you’ve gone through the list above and you still want to cancel your credit card, it’s time to plan your exit strategy. You should keep in mind two primary goals during this process — protecting your credit score and protecting your rewards. You don’t want to see your credit score plummet by just canceling cards, and you don’t want to lose any points or miles you may have accumulated.

    Check credit score impact

    Even if your credit score is high, errors on your report may still be impacting it. Image courtesy of scyther5 via Getty Images.

    Closing a credit card won’t immediately affect your length of credit history (worth 15% of your FICO Score) by lowering your average age of credit. Even after you close a positive account, it may remain on your credit for up to 10 years. Yet closing a credit card could raise your overall credit utilization rate and possibly lower your credit scores.

    To mitigate potential credit score damage, you should make a plan to keep your credit utilization rate low even after you close the account. One option is to pay off all your credit cards before you close an account, especially the account you’re closing. To ensure the $0 balance is reported to the credit bureaus, it’s best to pay early — a few days before your statement closing date. Of course, if your overall credit utilization is already 0%, closing a card won’t change that figure.

    Another option is to open another credit card (if you plan to do so) before you close your other account. Let’s say you plan to close a credit card with a $15,000 limit. If you open a new account and receive the same limit or a higher one, your utilization shouldn’t be impacted negatively. You will, however, have a new hard inquiry, and the new account itself may lower your average age of credit. These actions might result in lower credit scores, at least temporarily, so weigh these factors in making your decision.

    Related: How to check your credit score for absolutely free

    Protect your rewards

    Cropped image of young woman holding passport and suitcase walking in the international airport hall. d3sign/Getty

    Once you close a credit card, any rewards you leave sitting in that account could disappear. You may be able to redeem those points you’ve earned first for travel and more. If you’re not ready to spend the points yet, you can transfer them to an airline or hotel partner, buy gift cards or redeem them for cash or statement credits. But be warned — you won’t get the most valuable redemptions with cash, statement credits or gift card purchases, only hitting a rate of 1 cent per point.

    Pay the balance

    If you’re a regular TPG reader, you know all about our 10 commandments for travel rewards credit cards. As such, this particular step should be easy. Since you’ve already been paying off your balances every month, you’re getting the maximum benefit from the points and miles you earn. Double-check to ensure your payment has been processed before canceling a card. Also, don’t forget to use any credits on your card, such as the up to $200 annual airline fee statement credit offered by The Platinum Card® from American Express (enrollment required).

    Contact customer service

    If you’re 100% certain you want to cancel a credit card, you’re ready to close your account officially. It’s now time to pick up the phone and give your card issuer a call. If your bank offers a “secure message center,” there’s a chance you may be able to close your account online. You can send a message asking to close a specific account, and your card issuer might handle the process electronically without you ever having to pick up the phone.

    Summer Hull, TPG’s director of travel content, shares the following story about how she saved some time and canceled a credit card online: “I used the Citi Secure Message Center to close a card with less than 30 seconds of time invested on my end.

    • First, I logged into my Citi online account.
    • Then, I went into the account I wished to close.
    • Next, I selected the Message Center highlighted in red below.
    • I wrote a brief message asking to close my account ending in number XXXX.

    “The next day, the account was closed, and I received a message back to that effect.” She explains that because she didn’t want any retention offers, and did not want to downgrade to a different account, the online cancelation method worked well for her.

    On the other hand, if you want to try to negotiate those sorts of things, you’re best served by contacting your card issuer the old-fashioned way — by phone. Check for the customer service phone number on the back of your card — and be prepared to be pitched for a retention offer. Once you make the request and the customer service agent has exhausted all attempts to keep your business, the card will be closed. Ensure the canceled card is removed from any automatic payments you may have set up, so you’re not hit with late fees or other payment penalties.

    Check your credit report again

    Once the card is closed, it’s always a good idea to recheck your credit report. By law, you are entitled to a full credit report from the three major credit bureaus — Experian, Equifax, and TransUnion — once a year for free. To get your complete reports, head on over to the annual credit report site and click the “Request your free credit reports” button. If you’ve already received your free yearly report, be prepared to pay up to $13 per report if you decide to check your credit report after closing down a credit card account.

    Bottom line

    Most times, canceling a card isn’t a good idea because of the credit score hit, especially if it’s one you’ve had for a long time. That card can remain on your credit report for up to 10 years, and you’ll also take a hit on your credit score. But by following the steps above, you can mitigate any effects on your credit score and report.

    Additional reporting by Stella Shon and Benét J. Wilson.

    Featured photo by Getty Images.

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    Michelle Lambright Black is a contributing writer for The Points Guy
    Источник: https://thepointsguy.com/news/how-cancel-credit-card/
    FinCEN.gov". www.fincen.gov. Retrieved October 3, 2021.

External links[edit]

Источник: https://en.wikipedia.org/wiki/Capital_One

Comenity Direct

If you’ve opened a high-yield savings account or CD with the Comenity Direct online bank, this app is for you. With it, you can maximize your savings by doing all your banking on the go.

Ready to download the app? Please sign in with your online banking username and password.

Want more information? Here’s everything you can do with this Comenity Direct app:

• Access your savings or CD accounts quickly and securely. Touch ID and PIN authentication allow sign-in using your fingerprint or personal passcode.

• Monitor your activity. View your account balances and transactions, all in one place.

• Make deposits with mobile check capture. Use your phone’s camera to snap a picture of your check – easy as can be!

• Transfer funds effortlessly. Generate one-time or repeating automatic transfers to other linked bank accounts.

• Have it your way. Customize your interface and add your own tags, images and notes to create a personalized banking experience.

• Get your questions answered. Speak with Comenity Direct Customer Care at the touch of a button.

Hey, if you’ve got a Comenity-branded credit card and you’re looking to make payments to your account, we’re sorry, this app isn’t for you. Instead, Comenity credit card customers can go to Account Center for everything related to your account.

Источник: https://play.google.com/

Comenity credit cards: Which one is best for you?

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Use our table to browse all Comenity-issued cards. You can compare them in terms of rewards, annual fee and interest rates. If you want to know more about each card, check out our review.

Data updated regularly

Comenity is a financial services company that helps retailers produce one-of-a-kind credit cards. It’s the issuing bank behind more than 150 products that include the Forever 21 Credit Card and the Hot Topic Guest List Credit Card.

In fact, if you’re ever offered a store credit card, you may indirectly come into contact with Comenity. It’s been around for 30 years and boasts 50 million customers.

To apply for a Comenity card, visit the Comenity website and click Apply now.

Eligibility criteria

  • Must be at least 18 years old
  • Must have a residential US address

Information you’ll need

To complete the application, provide your:

  • Name and residential address
  • Social Security number
  • Email address, phone number and date of birth
  • Financial information such as annual income and income source

Comenity mostly focuses on store credit cards, adding a smattering of cards in the medical, education, hotel, auto and financial industries. Most of them can’t be used outside the store, but those that are Visa or Mastercard can be used everywhere.

Comenity Bank offers only one cashback card, which is on par with similar card products offered by large banks, such as Amex or Capital One. Unfortunately, you won’t find balance transfer cards, travel cards or student cards.

Standout benefits of a Comenity card

  • Store cards. Most Comenity cards are store cards, meaning all rewards you earn with these cards apply only to the specific store. Aside from rewards, most of these cards come with additional benefits at the store, such as special deals and discounts. Keep in mind, some store cards can’t be used outside the store to buy groceries, gas or make travel purchases.
  • Cashback card. The single Comenity Bank cashback product earns unlimited 1.5% back on all purchases, which is in line with competitor cards from American Express, Capital One and Wells Fargo.

Who can apply for a Comenity card?

Comenity cards are typically more accessible than other unsecured credit cards. While other cards can require a good credit score or higher, you can often get a Comenity product with fair credit.

Beyond making it more fun to shop at your favorite stores, a Comenity card can help you raise your credit score and they come with no annual fees.

  • Abercrombie & Fitch
  • American Home
  • American Kennel Club
  • Ann Taylor
  • Appleseed’s
  • Arhaus Archarge
  • Ashley Stewart
  • Avenue
  • Barney’s New York
  • Bealls Credit Card
  • Bed Bath & Beyond® Mastercard® Credit Card
  • Bedford Fair
  • Big Lots
  • BJ’s
  • Blair
  • Blue Nile
  • Boscovs
  • Boston Store Credit Card
  • BrylaneHome
  • Buckle
  • Burkes Outlet
  • Camping World/Good Sam
  • Caesars Rewards Visa® Credit Card
  • Catherines
  • Chadwicks of Boston
  • Children’s Place
  • Christopher & Banks
  • Colombian Emeralds
  • Crate & Barrel
  • David’s Bridal
  • Draper’s & Damon’s
  • DSW
  • Eddie Bauer
  • El Dorado Furniture
  • Express Next
  • Forever 21 Credit Card
  • FULLBEAUTY
  • GameStop
  • Gardner-White
  • Gordmans
  • Haband
  • Home & Garden Showplace
  • Hot Topic Guest List Credit Card

Comenity is a big player in store credit cards. If you’ve ever applied for a store credit card, you might have interacted with the company in some way.

If you’re not sure whether a Comenity product is right for you, compare other store cards or other rewards cards to find the right choice for your financial situation.

How does Comenity keep my credit card information secure?
Its Account Protection team monitors accounts 24/7 and will notify you if it spots unusual activity on your account. Comenity uses Secure Socket Layer (SSL) software to encrypt your data. It also uses a digital certificate so you can be sure you’re interacting with the real Comenity website and not a third-party site.

Can I use a Comenity store credit card outside of the retailer it’s issued for?
Typically, no. But if your card is cobranded with a payment network like Visa or Mastercard, you may be able to use it outside of the retailer it’s issued for.

Why don’t I need an excellent credit score to apply for a Comenity store card?
Most retailers approve cardholders who have at least a fair credit score to encourage shopping at their stores. This means they’re usually more lenient on extending credit.

Источник: https://www.finder.com/credit-cards/comenity-credit-cards
comenity capital bank credit card list

Comenity Bank credit cards

When you think of a retail credit card, you most likely think of the brand it’s associated with. Many stores – from Pottery Barn 21 to Big Lots to BJ’s – offer such cards, but retailers aren’t issuing them. Most of the time, these cards are issued by the banks they’re partnered with.

There are a few credit card issuers that specialize in retail credit cards, and Comenity Bank is one of the biggest. Read on to learn about its offers and whether they’re a good choice for you.

What is Comenity Bank?

Comenity Bank might not be a household name like American Express or Chase, but it’s a major credit card issuer that focuses on store credit cards. It’s currently partnering with more than 145 retailers and serving over 50 million cardholders. Besides credit cards, Comenity Bank also offers high-yield savings accounts and certificates of deposit.

Since retail credit cards are typically easier to qualify for even if your credit isn’t in the best shape, Comenity Bank cards can be a credit-building option. Additionally, you might want to consider some of their offers if there’s a retailer you regularly shop at or are looking to make a big purchase from.

What stores partner with Comenity Bank?

With so many partnering stores, Comenity Bank offers a great variety of store credit cards, including online stores, clothing shops, furniture stores and more.

Below, you can find the list of retail credit cards that Comenity Bank is currently offering.

  • AKC Visa Credit Card
  • ALL Rewards Credit Card
  • ALL Rewards Mastercard
  • Appleseed’s Credit Card
  • Appliances Connection Credit Card
  • Archarge Credit Card
  • Ashley Stewart Credit Card
  • Avenue Credit Card
  • Ballard Designs Credit Card
  • Bealls Florida Credit Card
  • Bealls Outlet One Credit Card
  • Bed Bath & Beyond Mastercard
  • Big Lots Credit Card
  • BJ’s Perks Plus Mastercard
  • BJ’s Perks Elite Mastercard
  • Blair Credit Card
  • Blue Nile Credit Card
  • Boscov’s Credit Card
  • Brylane Home Platinum Credit Card
  • Buckle Credit Card
  • Build.com Credit Card
  • Burlington Credit Card
  • Burkes Outlet One Credit Card
  • Good Sam Rewards Visa Credit Card
  • Carter’s Credit Card
  • Catherines Credit Card
  • C21STATUS Credit Card
  • My Place Rewards Card
  • Christmas Tree Shops andThat! Mastercard
  • Christopher & Banks Credit Card
  • Cost Plus World Market Mastercard
  • David’s Bridal Credit Card
  • Diamonds International Credit Card
  • Draper’s & Damon’s Credit Card
  • DSW Visa
  • Eddie Bauer Credit Card
  • El Dorado Furniture BLUCard Credit Card
  • Express NEXT Credit Card
  • Express NEXT A-List Credit Card
  • Floor & Decor Credit Card
  • Forever 21 Credit Card
  • Forever 21 Visa Credit Card
  • FullBeauty Platinum Credit Card
  • Gardner-White Premier Credit Card
  • Gordon’s Jewelers Credit Card
  • Grandin Road Credit Card
  • Haband Credit Card
  • Harmon Face Values Mastercard
  • Hot Topic Guest List Credit Card
  • Houzz Credit Card
  • Iddeal Credit Card
  • IKEA Projekt Credit Card
  • IKEA Visa Credit Card
  • J.Crew Credit Card
  • J. Jill Credit Card
  • Jessica London Platinum Card
  • KingSize Platinum Credit Card
  • Lane Bryant Credit Card
  • Little Switzerland Credit Card
  • LUCKY BRAND Rewards Credit Card
  • Mayors Credit Card
  • RUNWAYREWARDS Credit Card
  • Overstock Store Credit Card
  • Petland Credit Card
  • Piercing Pagoda Credit Card
  • Pottery Barn Credit Card
  • Pottery Barn Kids Credit Card
  • RH Credit Card
  • Talbots Credit Card
  • The Tile Shop Credit Card
  • Torrid Insider Credit Card
  • Trek Credit Card
  • Ultamate Rewards Credit Card
  • Ultamate Rewards Mastercard
  • Venus Credit Card
  • Victoria’s Secret Angel Card
  • Vitacost Healthy Perks Mastercard
  • west elm Credit Card
  • Woman Within Platinum Credit Card
  • The Diamond Card

Note that this list only contains cards Comenity Bank is offering at the moment. Other cards might be still available to previous cardholders, but closed for new applications.

Find card offers for you: Some of the credit card offers on this page are no longer available on CreditCards.com, but you can still find a great card offer for you! Our CardMatch tool can help match you with prequalified offers and cards that align with your credit history – with no harm to your credit score. Get personalized offers from our partners in seconds.

Other Comenity Bank offers

While Comenity Bank is mostly known for retail credit cards, it partners with other types of businesses as well. For example, you can find a few union savings bank com rewards cards among the issuer’s offers, a couple of auto cards, medical cards and even an insurance credit card that allows you to rack up rewards while paying for your coverage.

Here’s a list of non-retail Comenity offers:

  • Interval World Mastercard
  • Orbitz Rewards Visa Credit Card
  • Total Rewards Visa Credit Card
  • Westgate Rewards Mastercard
  • Worldwide Vacation & Travel Mastercard
  • Lexus Pursuits Visa
  • Toyota Rewards Visa
  • ALPHAEON Credit Card
  • My Smile Care Credit Card
  • Smile Generation Credit Card
  • Farmers Rewards Visa Credit Card
  • Caesars Rewards Visa Credit Card
  • mycash Mastercard

Most popular Comenity Bank cards

With such a variety of products available, there are many Comenity Bank credit cards you might be considering depending on your shopping habits.

While it’s best to take your brand preferences and credit health into account when choosing a retail card, here are some Comenity Bank cards that are most popular among consumers.

Victoria’s Secret Angel credit card

If you’re a loyal Victoria’s Secret fan who never misses out on a deal from this lingerie retailer, the Victoria’s Secret Angel credit card can be worth looking into.

Victoria’s Secret Angel cardholders get 3 points per dollar on Victoria’s Secret bra purchases and 1 point per dollar on other Victoria’s Secret purchases. The card has a tier system based on yearly spend, with higher tiers getting better deals and benefits. Depending on the tier, members can enjoy $10 or $15 certificates issued for every 250 points, free shipping, birthday gifts and access to exclusive events.

IKEA Visa Credit Card

If you find yourself shopping at IKEA often, the IKEA Visa Credit Card may be worth considering.

The card offers 5% back in rewards dollars on U.S. IKEA store and IKEA.com purchases, Traemand installation and TaskRabbit assembly services, as well as 3% back on dining, grocery and utility purchases and 1% back on all other purchases.

The 3% rate in such popular spending categories outside of IKEA is a notable feature. Many store cards only reward you for spending in their respective stores, making it harder to reap the benefits.

On top of that, cardmembers get free delivery, auto rental protection and automatic enrollment in the IKEA Family loyalty program.

BJ’s Perks Elite Mastercard

Frequent BJ’s shoppers can benefit from signing up for the BJ’s Perks Elite Mastercard – which offers a generous 5% cash back rate on eligible in-club and online purchases at BJs.com. To maximize rewards, you can also take advantage of 2% on dining and non-BJ’s gas purchases and 1% on other purchases.

On top of that, cardholders get a 10-cent-per-gallon discount on BJ’s gas and can save with exclusive deals and free shipping on eligible items.

How to apply for a Comenity Bank card

The easiest way to apply for a credit card from Comenity Bank is to do so online. Search the card name, and find a link to the retailer site or Comenity’s website. From there, click “Apply Now” and provide the required information.

Comenity apply

You can also apply for the majority of these cards in-store. The cashier may ask you if you’d like to sign up for the card when you’re checking out, or you can simply request to fill out the application.

Final thoughts

Comenity Bank offers a wide range of retail credit cards, as well as a few other credit card products. A store credit card can be a way to build your credit due to more relaxed credit requirements and help you rack up rewards in the stores you frequent.

However, before you apply for a Comenity Bank credit card, make sure it’s a good option for you. Store credit cards offer some of the highest interest rates, comenity capital bank credit card list credit limits are typically on the lower side. At the end of the day, such cards may only be a good choice for brand enthusiasts. Those interested in rewards might be better off with a general rewards card, and even if your credit isn’t in the best shape, you still may find other options.

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

Ana Staples is a staff reporter and young credit expert reporter for CreditCards.com and covers product news and credit advice. She loves sharing financial expertise with her reader and believes that the right financial advice at the right time can make a real difference. In her free time, Anastasiia writes romance stories and plans a trip to the French Riviera she'll take one day—when she has enough points, that is.

Источник: https://www.creditcards.com/credit-card-news/comenity-bank-credit-cards/

Comenity Direct Review: Competitive Interest Rates from a Known Retail Store Card Provider

Reviews / Banking

GOBankingRates Score

Our Take: Comenity Capital Bank is best known for the retail store credit cards it issues for retailers such as Victoria's Secret, Wayfair and Williams Sonoma. But you can access more than credit from the financial institution through its Comenity Direct banking arm. This in-depth Comenity Direct review will highlight how the banking side works and if it's the right choice for you.

  • Customer Service
  • Fees
  • Interest Rates
  • Opening Deposit Requirements

How did we calculate this?

Pros

  • High-yield savings account pays 0.60% APY
  • Two-year CD rate is 0.75% APY
  • Winner of Purdue University's BenchmarkPortal for excellence 15 times in a row for customer service
  • The savings account has very few fees and a low opening balance of $100
  • Direct deposit available

Cons

  • No checking account available
  • Customer service is only available by phone
  • No debit cards offered

About Comenity Direct

Comenity issued its first credit card in 1986. Today, it partners with 160 of the top retailers to issue co-branded and private label store cards. In 2018, Comenity added banking services, known as Comenity Direct, to provide low-fee, high-yield savings and CD accounts that are FDIC-insured. There are no physical branch locations, but customers can handle their banking needs through the website, mobile banking app or by calling customer care. Notably, GOBankingRates has ranked Comenity Direct as one of the Best Online Banks of 2021, as well as one of the Best Savings Accounts and Best CD Accounts of 2021, in its yearly rankings.

Comenity Direct Products

Comenity Direct focuses on savings products. Here’s a list of banking services that are available at this time.

TypeProduct Details
Savings
Certificates of Deposit (CDs)
  • Earn 0.60% to 0.90% APY
  • Annual terms of one, two, three, four or five years
  • $1,500 minimum opening deposit

What makes the savings account and CDs at Comenity Direct worth considering? Interest rates that are higher than what some of the top brick-and-mortar banks are offering might be the top feature. But there’s more.

Comenity Direct Savings Account

Comenity Direct has only one high-yield savings account option, but the simplicity of the product should suffice for most account holders. Since there are no branch locations, you’ll need to feel comfortable doing your banking online or using a mobile app. If so, you’ll be able to deposit checks, transfer funds and manage your money at any time — day or night. Additionally, GOBankingRates has ranked it as one of the Best Savings Accounts of 2021.

Features

  • Fees limited to those for wire transfers, paper statements and official checks
  • Mobile check deposit available
  • Direct deposit available

Pros:

Cons:

  • Limited to six withdrawals per month
  • The only types of withdrawals available are transfers to another bank account.

Comenity Direct CD Accounts

A certificate of deposit can be useful when you need a guaranteed interest rate for your funds and you won’t need to access the balance for a set period of time. Comenity Direct provides a few term lengths to make accelerated savings growth possible. The longer you leave your money in a CD, the more interest you’re likely to earn. GOBankingRates has ranked it as one of the Best CD Accounts of 2021.

Features

  • Earn 0.60% to 0.90% APY
  • Five term lengths available: one, two, three, four and five years

Pros

  • No fees, except for wire transfer, paper statements and official checks
  • Automatic renewal is available
  • Interest compounds daily

Cons

  • $1,500 minimum opening balance is required
  • Penalties of 180 to 365 days of simple interest apply if you withdraw early

Before you apply, compare how Comenity Direct’s rates compare with the best CD rates from other banks.

Banking Experience

A typical Comenity Direct review from customers explains that you’re getting a no-frills experience. You won’t have access to perks, rewards or bank branches, but you’ll be earning higher interest on your savings accounts.

Customer Service

Comenity prides itself on top-shelf customer care. Although the only way to access customer service is by phone, representatives provide a good experience — Comenity Direct has won Purdue University’s BenchmarkPortal for customer service excellence 15 times in a row.

Accessibility and Branch Availability

There are no branches available, so you’ll need to get comfortable handling your savings accounts via the website or mobile app. This isn’t necessarily a bad thing. Making it less convenient to access your savings account means you might be tempted to spend less, helping you to grow your money faster.

Mobile and Digital Experience

Online banking is available through the Comenity Direct website, or you can use Comenity Direct’s mobile app, which is available for both iOS and Android. The Comenity Direct review at the Google Play Store for the app is average, with just less than 3 out of 5 stars. iPhone and iOS users seem happier with the app, awarding it 4.5 out of 5 stars. Some of the banking functions you can complete using the Comenity Direct app include:

  • Managing your account
  • Viewing balances and history
  • Making money transfers
  • Setting up account alerts
  • Depositing checks

Your personal information is safe, thanks to encryption, authentication and round-the-clock monitoring of your account activity for the website. Touch ID and PIN code sign-in using your fingerprint or passcode are available through the mobile app.

How To Open comenity capital bank credit card list Account

According to Comenity Direct, opening an account online takes minutes. You’ll need to be at least 18 years of age, have a valid U.S. Social Security Number and provide a physical U.S. residential address.

Follow these steps:

  1. Click on “Open an Account.”
  2. Set up a login and password.
  3. Provide an email address.
  4. Upload a government-issued photo ID.
  5. Enter your Social Security number.
  6. Provide a U.S. residential address.
  7. Answer some questions to verify your identity.
  8. Fund your account by setting up a transfer using a current bank account and routing number.

Key Information

Customer Service Number: 1-833-755-4354, weekdays 7 a.m. to 11 p.m. CST and weekends 9 a.m. to 5 p.m. CST

Routing Number: 124085325

Comenity Direct Fees

You won’t have to worry about many bank charges, such as overdraft fees when you bank with Comenity Direct. There are no monthly maintenance, ACH or incoming wire transfer fees. The bank promises no surprise fees. The only charges from Comenity Direct are for:

  • Outgoing wire transfer: $25
  • Official check request: $15
  • Paper statement: $5

Comenity Direct vs. Competitors

Comenity Direct is a good option when need to establish an emergency savings fund or want to save for a reason, such as a down payment on a home. But how do its comenity capital bank credit card list focused banking services compare to similar banks?

BankBest For
Comenity DirectHigher-earning CDs
Ally BankInterest-earning checking and savings accounts
Vio BankHigher-yield savings account
Marcus by Goldman SachsThe flexibility of savings and loans in one place

Comenity Direct vs. Ally Bank

Comenity Direct is a solid low-fee savings account contender but falls short in the breadth of products. If you’re in search of a bank that offers both low-fee, interest-bearing checking and savings, Ally Bank is the better option.

Comenity Direct vs. Vio Bank

Vio Bank provides similar products to Comenity. Vio Bank’s savings rate is higher at 0.51% APY compared to Comenity’s 0.60% APY. For CDs, Comenity Direct pays you more.

Comenity Direct vs. Marcus by Goldman Sachs

Comenity’s high-yield savings account pays higher interest than Marcus’ current 0.50%. One advantage Marcus has over Comenity is its loan offerings. Marcus offers no-fee unsecured personal loans of $3,500 to $40,000. Depending on your credit score, fixed rates are between 6.99% and 19.99% APR for three- to six-year terms.

Final Take

There are plenty of good reasons to separate your checking and savings accounts. One of the main reasons may be simply to avoid spending the funds by taking away the easiest access. Comenity Pnc open account online savings and CDs are high-yield and only allow for limited transfers each month. There are no monthly maintenance fees — open more than one account to save for different goals. And best of all, opening an account is simple and can be done in just a few minutes to start saving right away.

More Banks With Competitive Rates

Bank Branches

Credit Unions

Editor’s Favorite

Interest rates are at historically low levels, making it hard to earn anything significant on your cash. Comenity Stores that sell mens suits near me pays APY on the high yield savings account, regardless of your balance.

Comenity Direct FAQ

Here are the answers to some commonly asked questions about Comenity Direct.
  • Are Comenity Direct and Comenity Capital Bank the same?
    • Savings accounts and CDs are available through Comenity Direct, a brand of Comenity Capital Bank.
  • Is Comenity Direct FDIC insured?
  • Does Comenity Direct offer free money for signing up for an account?
    • Many banks provide enticing cash bonuses to earn your business. Comenity does not offer any cash signup bonuses at this time.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 16, 2020.

This content is not provided by Comenity Direct. Any opinions, analyses, reviews or recommendations expressed in this article are atm machines that dispense $10 near me of the author alone and have not been reviewed, approved or otherwise endorsed by Comenity Direct.

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About the Author

Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.

Источник: https://www.gobankingrates.com/reviews/comenity-bank/

How to Beat Comenity Bank Debt Collection

Summary: Is Comenity Bank suing you for an old debt? Don't let them win without a fight! You can beat Comenity Bank in court!

Calls, mail, or lawsuits from comenity capital bank credit card list debt collector is never something that you want to deal with, but it happens and is more common than you might think. The Consumer Financial Protection Bureau states that more than 70 million Americans have dealt with debt collectors. Out of this number, 25% felt uncomfortable, harassed, or threatened during these times.

Oftentimes debt collection agencies use certain language to scare you. Although this is completely illegal, it is used to generate fear to try and force you to pay. A debt collector can garnish your wages, and this may feel scary. If you know your rights then you can use their illegal actions to your advantage. Understanding what happens when you are served for papers, and how to take the steps to prepare to defend yourself, is essential.

Protect your wages from garnishment by filing a response with SoloSuit.

What is Comenity Bank Debt Collection?

Comenity is the bank behind many common credit cards. Located with their headquarters in Columbus, Ohio. Comenity has around 50 million card members. If you have ever applied for a credit card with Abercrombie & Fitch, Ann Taylor, Bed Bath & Beyond, Crate & Barrel, New York & Company, Pottery Barn, Victoria's Secret, West Elm, or another similar store, then this is who the card is operated through.

How to Beat Comenity Bank Debt Collection in Court

Respond to the Lawsuit or Debt Claim

Although it may be tempting to avoid responding to a debt collection lawsuit, one of the biggest mistakes made by debtors is not responding to the claim. This claim will come in the form of a letter notifying you of the debt. If you owe the debt and cannot pay it, you still need to respond. This will only give Comenity Bank Debt Collection a default judgment against you.

Avoid a Default Judgement

Default judgments allow multiple avenues of collection for debt collectors. This involves:

  • Wage garnishment
  • Taking money directly from your bank accounts
  • Adding attorney's fees, court costs, and interest comenity capital bank credit card list
  • Placing a lien on your property

Tips for Your Response

When a debt lawsuit is placed into action it means you can no longer simply respond via phone. You will need to send a legal letter that is called an Answer. Tips for sending your answer include:

Don't let debt collectors push you around. Respond with SoloSuit.

Challenge Comenity Bank's Right to Sue

One way boxycharm contact number respond to a debt lawsuit is to challenge the legal right to even file the lawsuit against you. Although Comenity is usually only the second person to hold your debt, there is still the chance that they may not have the proper chain of paperwork to back up ownership.

Typically when it comes to debt collectors your debt has been passed around and sold more than one time. If an entity owns a debt, they have to legally show that they have the right to be pursuing a lawsuit against you. If you do not respond to the lawsuit you will not have the chance to ask for this proof, and your non-response is considered an “admission of responsibility”.

Instead, you can ask for documentation to prove that you can legally be sued for the debt by a specific debt collector.

What to Bank of america business banking login For

  • Signed credit agreement
  • Chain of custody showing where the debt came from and the right of ownership
  • Proof that you are responsible for the debt
  • Proof that they have the right to sue you
  • Proof that you owe a specific amount

Proof of the above may include:

  • An indication that the balance was increased after you made purchases
  • The balance being increased due to fees that you agreed to in the original credit agreement
  • Records of an accurate depiction of the balance including all previous payments and adjustments

Check on the Statute of Limitations

The statute of limitations governs how long a creditor can legally sue you for debt. The rules vary based on the state and the situation, but most often the average is four to six years. In some extreme cases, such as New York, the statute of limitations is up to 20 years.

These periods begin on the last date that you were active on the account. This means that the last time you used a credit card, obtained funds from a loan, or made a payment count as activity. This is why you should not pay on any older debts, even if a creditor makes you some type of promise.

Because making a payment restarts the clock on your debt and starts the statute all over again, you may have noticed a debt collector pushing you to make payments. Although they may disguise this as a way to get them off your back, it is quite the opposite.

Make the right affirmative defense and win your case with SoloSuit.

Should You Hire an Attorney?

Although some people look to hire an attorney, it is not always financially feasible. What is good to note christmas tree in the park san jose that many attorneys offer free consultations which can give you some insight into your case. Attorneys also often work on a contingent basis, only paying themselves out of your case funds. If there is not much of a countersuit, you may not have a reason to hire an attorney.

Filing a Countersuit

Debt collectors that violate the Fair Debt Collection Practices Act, known as the FDCPA, may be required to pay up. This is because various practices are not legal, but debt collectors still practice them. These include harassment, calling at odd hours, and lying about who they are. If this has happened to you, you may benefit from working with a lawyer on a contingent basis.

Regardless of the situation, you will need to do what works best for your situation. Look through your options, never admit guilt, and know your rights.

What is SoloSuit?

SoloSuit makes it easy to respond to a debt collection lawsuit.

How it works: SoloSuit is a step-by-step web-app that asks you all the necessary questions comenity capital bank credit card list complete your answer. Upon completion, you can either print the completed forms and mail in the hard copies to the courts or you can pay SoloSuit to file it for you and to have an attorney review the document.

Respond with SoloSuit

"First time getting sued by a debt collector and I was searching all over YouTube and ran across SoloSuit, so I decided to buy their services with their attorney reviewed documentation which cost extra but it was well worth it! SoloSuit sent the documentation to the comenity capital bank credit card list and to the court which saved me time from having to go to court and in a few weeks the case got dismissed!" – James


Get Started


>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

>>Read the NPR story on SoloSuit: A Student Solution To Give Utah Debtors A Fighting Chance

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Источник: https://www.solosuit.com/posts/491

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Источник: https://www.capitalbank.com/personal-banking/credit-debit-cards

How to cancel a credit card

Editor’s note: This post has been updated with new information.


Deciding whether to cancel a credit card isn’t a quick and easy decision — or at least it shouldn’t be. You need to weigh a number of factors to make sure that closing your account doesn’t have unintended consequences.

Knowing when to cancel a credit card (and when to keep an account open) is critical to your long-term success as a points and miles enthusiast. This knowledge is just as necessary as learning how to take advantage of attractive 360 capital one checking account online credit card offers.

While it’s usually best to leave your credit cards open, if you have a reason for canceling a credit card (such as closing a joint account during a divorce or setting yourself up to potentially re-earn a sign-up bonus later), the process doesn’t have to be complicated. We outline everything you need to know below.

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In This Post

Should I cancel my credit card?

Before you close any credit card, it’s essential to ask the following questions:

Will closing this card raise your credit utilization rate?

Credit utilization describes the relationship between your credit card limits and balances. If closing a card causes your overall credit utilization to climb, your credit scores might decline. Lower credit scores could make it harder to qualify for new accounts and might lead to higher interest rates on new credit in the future.

Has the account been open for more than one year?

You should never close your credit card before the one-year mark. Card issuers aren’t fans of people who open credit cards just to score a sign-up bonus and don’t turn into valuable customers. American Express, in particular, may claw back your bonus or even close your account if it thinks you’re trying to game the system.

Is there an annual fee on the account?

If not, there’s usually little to no benefit to closing the account. On the other hand, keeping the card open might be suitable for your credit scores in the long run, especially if you manage the account responsibly.

Can you downgrade to a no-annual-fee option?

If you’re closing a credit card because you’re not getting enough value to offset the annual fee, consider asking the card issuer to downgrade your account. By downgrading your card to a different product — such as from the Capital One Venture Rewards Credit Card down to the Capital One VentureOne Rewards Credit Card with no annual fee — you might protect your credit. But know you’ll be taking a hit when it comes to card perks.

Will the card issuer offer you a retention offer?

Card issuers offer sign-up bonuses to attract new customers. Those same issuers may also be willing to extend a retention offer if you’re thinking about canceling a card due to its high annual fee. If a retention offer is available, it might make sense to keep a card you were intending on closing.

How to cancel a credit card

After all these considerations, if you’re still intent on canceling your credit card, here are all the steps you’ll need to take.

Plan your exit strategy

If you’ve gone through the list above and you still want to cancel your credit card, it’s time to plan your exit strategy. You should keep in mind two primary goals during this process — protecting your credit score and protecting your rewards. You don’t want to see your credit score plummet by just canceling cards, and you don’t want to lose any points or miles you may have accumulated.

Check credit score impact

Even if your credit score is high, errors on your report may still be impacting it. Image courtesy of scyther5 via Getty Images.

Closing a credit card won’t immediately affect your length of credit history (worth 15% of your FICO Score) by lowering your average age of credit. Even after you close a positive account, it may remain on your credit for up to 10 years. Yet closing a credit card could raise your overall credit utilization rate and possibly lower your credit scores.

To mitigate potential credit score damage, you should make a plan to keep your credit utilization rate low even after you close the account. One option is to pay off all your credit cards before you close an account, especially the account you’re closing. To ensure the $0 balance is reported to the credit bureaus, it’s best to pay early — a few days before your statement closing date. Of course, if your overall credit utilization is already 0%, closing a card won’t change that figure.

Another option is to open another credit card (if fnb login reset plan to do so) before you close your other account. Let’s say you plan to close a credit card with a $15,000 limit. If you open a new account and receive the same limit or a higher one, your utilization shouldn’t be impacted negatively. You will, however, have a new hard inquiry, and the new account itself may lower your average age of credit. These actions might result in lower credit scores, at least temporarily, so weigh these factors in making your decision.

Related: How to check your credit score for absolutely free

Protect your rewards

Cropped image of young woman holding passport and suitcase walking in the international airport hall. d3sign/Getty

Once you close a credit card, any rewards you leave sitting in that account could disappear. You may be able to redeem those points you’ve earned first for travel and more. If you’re not ready to spend the points yet, you can transfer them to an airline or hotel partner, buy gift cards or redeem them for cash or statement credits. But be warned — you won’t get the most valuable redemptions with cash, statement credits or gift card purchases, only hitting a rate of 1 cent per point.

Pay the balance

If you’re a regular TPG reader, you know all about our 10 commandments for travel rewards credit cards. As such, this particular step should be easy. Since you’ve already been paying off your balances every month, you’re getting the maximum benefit from the points and miles you earn. Double-check to ensure your payment has been processed before canceling a card. Also, don’t forget to use any credits on your card, such as the up to $200 annual airline fee statement credit offered by The Platinum Card® from American Express (enrollment required).

Contact customer service

If you’re 100% certain you want to cancel a credit card, you’re ready to close your account officially. It’s now time to pick up the phone and give your card issuer a call. If your bank offers a “secure message center,” there’s a chance you may be able to close your account online. You can send a message asking to close a specific account, and your card issuer might handle the process electronically without you ever having to pick up the phone.

Summer Hull, TPG’s director of travel content, shares the following story about how she saved some time and canceled a credit card online: “I used the Citi Secure Message Center to close a card with less than 30 seconds of time invested on my end.

  • First, I logged into my Citi online account.
  • Then, I went into the account I wished to close.
  • Next, I selected the Message Center highlighted in red below.
  • I wrote a brief message asking to close my account ending in number XXXX.

“The next day, the account was closed, and I received a message back to that effect.” She explains that because she didn’t want any retention offers, and did not want to downgrade to a different account, the online cancelation method worked well for her.

On the other hand, if you want to try to negotiate those sorts of things, you’re best served by contacting your card issuer the old-fashioned way — by phone. Check for the customer service phone number on the back of your card — and be prepared to be pitched for a retention offer. Once you make the request and the customer service agent has exhausted all attempts to keep your business, the card will be closed. Ensure the canceled card is removed from any automatic payments you may have set up, so you’re not hit with late fees or other payment penalties.

Check your credit report again

Once the card is closed, it’s always a good idea to recheck your credit report. By law, you are entitled to a full credit report from the three major credit bureaus — Experian, Equifax, and TransUnion — once a year for free. To get your complete reports, head on over to the annual credit report site and click the “Request your free credit reports” button. If you’ve already received your free yearly report, be prepared to pay up to $13 per report if you decide to check your credit report after closing down a credit card account.

Bottom line

Most times, canceling a card isn’t a good idea because of the credit score hit, especially if it’s one you’ve had for a long time. That card can remain on your credit report for up to 10 years, and you’ll also take a hit on your credit score. But by following the steps above, you can mitigate any effects on your credit score and report.

Additional reporting by Stella Shon and Benét J. Wilson.

Featured photo by Getty Images.

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Michelle Lambright Black is a contributing writer for The Points Guy
Источник: https://thepointsguy.com/news/how-cancel-credit-card/