Closing Credit One - The Annual Fee

[Anonymous]

Be careful with credit one. They are very sneaky with the their charges. When I closed my card they were very polite but tried everything to get me to keep my account. Just make sure you confirm multiple times over the phone that your balance is $0 and ask for a written letter to be sent to you confirming your closed account and balance.

[jonfive]

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@Anonymous wrote:
Be careful with credit one. They are very sneaky with the their charges. When I closed my card they were very polite but tried everything to get me to keep my account. Just make sure you confirm multiple times over the phone that your balance is $0 and ask for a written letter to be sent to you confirming your closed account and balance.

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I've read about doing that as well,

Wonder if I can have them tell me (on recorded phone call) that my balance is zero and no further charges will be applied to the account. Definitely getting a letter!

Thanks!

[Anonymous]

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@jonfive wrote:

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@Anonymous wrote:

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Don't wait until a full year has passed to cancel - start the process in month 10 by paying off the balance then, and make sure it shows as zero on the month 11 statement before immediately calling to cancel once you see that statement.

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The issue with Credit One is that their annual fee is charged monthly..  This is the hanger on people getting out, because there's always a fee to jump through.

Great advice in every way though, thank you very much! I'll never forget it

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DW has one of these in her rebuild (I was able to avoid it personally, but she burned Cap One in our BK) and in our case our account agreement states that the first year's AF will be charged up front (which is was, and paid the same day), and that starting in the second year, the AF will begin to be charged monthly.

Hence my advice to start the process before the end of year one, before the monthly charges even begin - if you've already passed that point, which it sounds like you have, then you have my condolences

[jonfive]

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@Anonymous wrote:

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DW has one of these in her rebuild (I was able to avoid it personally, but she burned Cap One in our BK) and in our case our account agreement states that the first year's AF will be charged up front (which is was, and paid the same day), and that starting in the second year, the AF will begin to be charged monthly.

Hence my advice to start the process before the end of year one, before the monthly charges even begin - if you've already passed that point, which it sounds like you have, then you have my condolences

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Lol! 

From what i'm seeing, they just may send a squad of goons to break my legs and chop fingers off until I accept one of their offers to stay!

[Anonymous]

*speaks in a very bad italian accent*

"Hey Vinnie!"

"We got dis here Jon guy tryin ta leave da family!"

"I want you an Guido to head out dere an' make 'im an offer he can't refuse, capiche?"

[jonfive]

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@Anonymous wrote:

*speaks in a very bad italian accent*

"Hey Vinnie!"

"We got dis here Jon guy tryin ta leave da family!"

"I want you an Guido to head out dere an' make 'im an offer he can't refuse, capiche?"

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Hilarious!!!!!!

Now that I look at it, the title of the thread kind of looks like a name of a documentary!

Thing is... I am the annual fee.. 

[Anonymous]

You talkin to me?

*pulls out a Credit One card*

Say hello to my LITTLE FRIEND!

[rmduhon]

Another option is to set up daily balance emails. I did this and I'm still getting them after closing the card in August. And they all say 0 balance. Plus I gave the letter stating it was closed with a zero balance on whatever date it was.

[805orbust]

Yeah, see? August. Those guys are hilarious. Tony Soprano would be proud

[Anonymous]

Do you know which number is best to get a hold of them to complete this process?

I made the mistake of accepting a creditone card. 

Now i want to get out as quickly and painlessly as possible.