Hi Everyone, soooo I opened an Overstock account with Comenity and was approved with $ 7000 limit on 1/2/17 and I also applied for ULTA Mate Mastercard and I was also approved for $ 2,000. I used the Overstock to purchase something online it was $ 3,200 I also used their 18months no interest, even though I plan to pay it off in 3 months. Well, I tried to purchase an item that was on sale yesterday on Overstock and my card was declined so I called and was told that they just closed my account…. and when I tried to log to my Ulta Card it also gave me an error. Needless to say both account were closed. UGH!
My questions are – both account will show “Close by Credit Grantor” which I know is negative impact on your credit…. but I’m more concern with the UTI? will it show $ 3,200 used of $ 0 credit limit? or $ 3,200 used of $ 7000 credit limit? will this also be included in your UTI calculation when the account is closed?
Thanks to anyone who can shed me some light.