Comenity Direct
Related Posts
6/26 - Online Savings Now At 1.10% From 1.35%
5/21 - Rate Drop From 1.55% To 1.45% APY
5/15 - Comenity Finally Follows Suit With Rate Drops
4/1 - Comenity Direct Makes Modest Rate Increases
3/27 - Comenity Direct Going Up??
3/7 - Comenity Direct Rate Drops Savings Now 1.55% APY Cds Down About .4% Each
1/13 - Comenity Direct Savings Rate Down To 1.90% APY, Cds Fall As Well
10/11 - Comenity Direct Savings drops To 2.15%, CDs drop 5 Bps
9/13 - Comenity Direct Lowers All Rates By 10 Bps, Including High Yield Savings
8/16 - Comenity Direct Lowers All Rates, Including High Yield Savings
7/29 - Comenity Direct Drops All CD Rates By 15 Bps Or More
7/11 - Comenity Direct Drops all CD Rates by either 10 Or 15 Bps
6/27 - Comenity Direct Rate Drops, Including 3 Bps On High Yield Ssavings
6/22 - Comenity Direct Dropping CD Rates
5/7 - Comenity Direct 1-Year CD Earns 2.86% APY
4/25 - Comenity Direct Unveils High-Yield Savings, 2.48% APY
Comenity Direct - Good Rates And Good Online Experience
Comenity Direct overall has been a good banking experience. The opening process (both for the initial savings account and for a CD) was simple and fast.
Easy to link external account for ACH, and allows for external accounts to push/pull. A few notes about transfers:
* Transfers initiated by Comenity are usually same-day, and start earning interest right away. When scheduling a transfer in the morning, the money was already transferred by the afternoon - both on Comenity's website and my credit union's. This is nice to have this speed, but keep this in mind if you try timing transfers.
* Transfers initiated by Comenity are subject to holding period of a few days, earning interest but not available for withdrawals.
* Comenity allows for external push/pull ACH transfers. These usually showed up in 1 business day, and were not subject to the holding period (part of available balance as soon as credited).
Their App and Mobile Experience work great - they have added daily accrual amounts to savings accounts, and now have the account number and routing number listed.
I only needed customer service for password resets. Experience was fast, pleasant USA-based representatives that were able to understand and assist promptly
Some items I wish Comenity would address:
* The ability to set up Beneficiaries for all accounts online
* The ability to change CD-Renewal/Maturity instructions online. Currently these require you to contact Comenity within the 10-day grace period, unlike other CDs (Alliant CU, Live Oak Bank) that allow you to provide guidance after opening the CD and modify as needed on the website.
Overall I have been surprised and happy by my experience with Comenity Direct and can recommend them if you are looking for a good online savings account.
Comenity Bank Columbus Ohio
They are the worst bank I have ever used they lost one of my accounts completely turned me into credit agencies when I tried to contact them they said sorry we lost your account when we parted ways with wayfair/Comenty and we cant find or help you and it has destroyed my credit stay away this if a fraud they will destroy your credit and don't care
NO CUSTOMER SERVICE
Waited 13 minutes on hold, hung up
Called again another day waited 28 minutes
Tried the CHAT - haha will call back
Very regretful that I put my money here
Rip Off Theiving Bank
do not bank with this institution. they unannounced restricted access to my savings account. no explanation. they are clearly using their depositors as short term financing. customer service is terrible and can't get any answers over the phone. the occ and fed should shut them down. dishonest and thieves.
Data as of Q1 2021
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 27499 |
| Year Established | 1989 |
| Employees | 489 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 8.1% |
| Return on Equity - YTD | 45.43% |
| Annual Interest Income | $546.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2021vs Q1 2020 | $9.13B$12.14B |
| Loans | Q1 2021vs Q1 2020 | $6.89B$8.85B |
| Deposits | Q1 2021vs Q1 2020 | $3.47B$4.75B |
| Equity Capital | Q1 2021vs Q1 2020 | $1.78B$1.52B |
| Loan Loss Allowance | Q1 2021vs Q1 2020 | $971.3MM$1.29B |
| Unbacked Noncurrent Loans | Q1 2021vs Q1 2020 | $215.7MM$418.2MM |
| Real Estate Owned | Q1 2021vs Q1 2020 | $0$0 |