Comenity Bank is headquartered in Wilmington and is the 8th largest bank in the state of Delaware. It is also the 150th largest bank in the nation. It was established in 1989 and as of December of 2020, it had grown to 468 employees at 1 location. Comenity Bank has a B+ health rating.
What A Nightmare!
I'm just writing this to let you know what an awful experience it was to have a Comenity card. No one ever said, at any point when I was signing up for this card, that I could only make payments for this card with a bank account. I don't have a bank account and never will. I do however have a debit card, but that wasn't good enough for Comenity. They will not accept my debit card online, and to make payments on the phone, it's a $10 charge. So they made me drive over an hour away to the nearest Hot Topic to make the payments in person, and even still would not accept my debit card, and I had to go find an ATM in the mall and get cash out, every single month. But I did it, for years because I always make payments on time and for twice the minimum due. So then when I got sick and was in the hospital a few days, I couldn't go through all the hoops and bs they required of me to make a payment, so I tried to make the payment on the phone for 4 days, but they were not open. Then when they were open it was the next morning after the payment was due, and I explained to the customer service person my situation, and he told me he would not wave any fees or do anything to help me and I "should call back next month." So I called back the next month to see what we could do about the $40 late fee and the customer service person refused to help me and then said it would be another $10 to pay the late fee over the phone. Note that I had a $0 balance on my card and it was paid off. I paid their stupid little charges and I cancelled my card and will not ever have another one with Comenity as long as I live, because of the heartless way they treated me, when I just needed some compassion. Please do not ever get a card from Comenity, because they are setting you up for failure from the start, and when they see you struggle, they prey on you.
No Access To Deposited Funds
This institution has automated to the point where you cannot speak to anyone, even if you want to close your account. To make it more problematic, you cannot close your account on line because that choice is not offered. Their customer service lines always have "an unusually high volume of calls" and the automated message always tells you to call at another time, Their chat function does not operate.
Possible New Customer
I cannot believe the amount of negative customer reviews for Community Direct. I am looking for a CD and definitely will not open an account with this bank. I'll check back in a few months to see if the consumer reviews improve. Very bad.
Horrible Customer Service
Do not do business with Comentiy Bank/smile generation. Their customer service is horrible. I called them today and spoke with a representative regarding my wife's account. She was very rude , unprofessional and unpleasant to speak with. I am not sure how can this business survive to hire people with no customer service experience whatsoever. Her communication skills were zero. I will try to payoff the loan that my wife has with them for her dental work and do not deal with them ever again. I DO NOT RECOMMEND THIS BANK FOR YOUR FUTURE FINANCIAL HELP. They are running a shady business.
Data as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 27499 |
| Year Established | 1989 |
| Employees | 468 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.9% |
| Return on Equity - YTD | 20.24% |
| Annual Interest Income | $2.53B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $10.13B$13.96B |
| Loans | Q4 2020vs Q4 2019 | $7.73B$11.11B |
| Deposits | Q4 2020vs Q4 2019 | $3.65B$5.15B |
| Equity Capital | Q4 2020vs Q4 2019 | $1.66B$1.83B |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $1.11B$731.8MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $256.5MM$455.8MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $0$0 |