Bye Bye Credit One

burntreality · ‎02-15-2013

Well after being approved for the Discover IT last week, I decided I was more credit worthy than a "Credit One Card".

Called them up today to pay off the small balance I had on it and told them to close it. They tried waiving the annual fee and even lowering the interest but I stayed strong and had them close it. It was a great feeling. The card served it's purpose well but I am so happy to be done with it.

Now I just have to close my First Premier Credit Card this month and I will be a happy person.

Thanks again to everyone on these forums for the information to help me get from a Credit One card to a Discover Card over time.

Starting score: 513 (Pulled from MyFico)
Current Score: EQ=735 TU=744 EX=746

eviLution · ‎02-15-2013

Congrats!

I also got Discover just recently also, but I started off with Capital One. I'll probably close Capital One before the annual fee hits and apply for Amex PRG.

DCU Platinum: 4000 - Discover IT: 11000 - Walmart: 5000 - AMEX BCP: 18000 - Chase Freedom VS: 5000
in the garden since 1/24/14 - #GARDENSTRONG

twall06 · ‎02-15-2013

Congrats! I have just started rebuilding I have a secured merrick card and an unsecured cap1 with a 300 limit. But before I did my research I applied to credit one and got approved for a 300cl . I have not gotten the card yet so the account is not active but I am having second thoughts about it. Is it worth all the fees and crazy % or should I just not activate it?

burntreality · ‎02-15-2013

To me, yes it was worth it. I had a 500 something credit score (very low 500s) and no one else would approve me.

The card served it's purpose very well.

Had I known the information I know now, I would of got a secured card instead.

Starting score: 513 (Pulled from MyFico)
Current Score: EQ=735 TU=744 EX=746

Pilotdude · ‎02-15-2013

Follow behind Credit One and verify (then print the proof) that they closed the account and that its paid in full. I have heard that they like to sometimes be sneaky and keep it open so they can nab another AF.

NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000

KingAdrock · ‎02-15-2013

Personally if they offered to waive the AF I'd have accepted that and sockdrawed it for another year. But if you wanted to close there's nothing wrong with that.

BearsAndTurtlesRtheBest · ‎02-15-2013

Yeah! It did its job but..........but........its time to move on LOL EXCELLENT!!

Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
Chapter 7 BK Dischagred on 07/11/16. Gardening Since 01/17/2019

lithium78 · ‎02-16-2013

@KingAdrock wrote:
Personally if they offered to waive the AF I'd have accepted that and sockdrawed it for another year. But if you wanted to close there's nothing wrong with that.

The problem is that some lenders have a problem with borrowers having accounts from Credit One, First Premier, etc. It's best to get those cards out of your life ASAP.

Starting Score: TU: 566
Current Score: TU: 741 (Discover FICO); EQ: 755 (MyFico) EX: 774 (FAKO)
Goal Score: 800
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