CREDIT ONE CARD

[germaine47]

Has anyone been recently approved for credit one visa card.  What was your initial CLI and what did you received once you received the card?  I just did the application process on line and was approved for $1000.00 CLI.  Is this what they stick to or just a ploy to get you to apply?  Last application until the end of the year need to get rid of first premiere.

EQ  648  01/06/2012   (Lender Pull)

EX   659  01/07/2012

TU   688  01/07/2012

Germaine47

[-Cain-]

germaine47, congrats if this is the card you wanted.

Are the scores in your sig all FICOs? I see one is a lender pull. With your scores, you may have been able to get other cards as well. Did you look into the fees associated with Credit One, i.e. monthly, annual or convenience fees for paying online? Will interest accrue once the charge hits your account, or do you have a grace period?

[jeffery581]

Agreed, you probably would qualify for other cards as well. I have a Credit One Visa. They have (slowly) raised limit several times. Fees are high but that's the route I chose in rebuilding my credit. Some card companies websites have pre-selectors to see what they might approve you for. Hope that helps.

[rootpooty]

They don't have a grace period

[-Cain-]

That's one of the cons of this card, the other fees as well, in my view. Credit One will serve its purpose as a builder/rebuilder, but it comes with a price.

Good Luck anyways!

[germaine47]

The first year annual fee is $75.00 with an 25.9% APR I may need to read closely to see win the interest will accrue from purchases.  I have learned my lesson from my past credit history.  I keep my utilization below 20% and if necessary I will make payments twice monthly before the closing dates.  I just recovered from student loan rehabilitation so I Just started applying for a credit card 10 months ago. 

EQ 648  01/06/2012 (Lender Pull)

EX  659 FAKO

TU  688 FAKO

Will obtain current FICO from the real CRA once my disputes are completed.

HSBC 03/2011 ($400)

PFB    11/2011 ($500)

UNSECURED CREDIT UNION LOAN  ($1000)

STUDENT LOAN REPAYMENT $139.00 MONTHLY

In 12 months I hope to moving into my home  wish me luck

Germaine47

[-Cain-]

Well, some member here says interest begins immediately, so be careful with that.

Good luck with your home purchase.

[2NE1]

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@germaine47 wrote:

The first year annual fee is $75.00 with an 25.9% APR I may need to read closely to see win the interest will accrue from purchases.  I have learned my lesson from my past credit history.  I keep my utilization below 20% and if necessary I will make payments twice monthly before the closing dates.  I just recovered from student loan rehabilitation so I Just started applying for a credit card 10 months ago. 

EQ 648  01/06/2012 (Lender Pull)

EX  659 FAKO

TU  688 FAKO

Will obtain current FICO from the real CRA once my disputes are completed.

HSBC 03/2011 ($400)

PFB    11/2011 ($500)

UNSECURED CREDIT UNION LOAN  ($1000)

STUDENT LOAN REPAYMENT $139.00 MONTHLY

In 12 months I hope to moving into my home  wish me luck

Germaine47

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Hi, I recently asked about Credit One as well [http://ficoforums.myfico.com/t5/Credit-Cards/Credit-One-Bank/td-p/1146309] and decided to opt out, the extra fees are just not worth it. I am on rebuilding credit mode as well. I would suggest you try CapOne and/or Orchard Bank (unsecured CCs) for at least a year. I applied to both and my scores are way lower than yours and got approved! you should have no problem getting these cards.

[AndySoCal]

I agree with the other posts I too would suggest Capital One as well.  They have card(s) with fees less than Credit One Bank. They also define what they mean by Excellent, Fair and Rebuilder credit see which definition applies for you.  They are very hard to get credit limit increases from as  this forum has well documented.

Hope this helps

[Creditaddict]

you need to close this card and you need to go apply for like Barclay Apple and recon, you could end up with much better then 1k limit and annual FREE... cancel Credit One, your credit is to good for that.