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Credit One Bank Card Activiated!

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rightcoast
Frequent Contributor

Credit One Bank Card Activiated!

Just got my credit one bank card in the mail! 300 limit and 75 dollar annual fee already on the card! Yessssss
Oh we'll this will be a sock drawer card for me and I heard it is a good credit rebuilding card. It's my first unsecured and hopefully after a year I can drop it like it's hot and get Barclay or AMEX. The credit one card comes with a free monthly experian score though. I'm cool with that! Anybody have any rebuilding success stories with credit one?

 

I will keep this posted updated with any progress I have


Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Message 1 of 21
20 REPLIES 20
Jutz
Valued Contributor

Re: Credit One Bank Card Activiated!


@rightcoast wrote:
Just my credit one bank cad in the mail! 300 limit and 75 dollar annual fee already on the card! Yessssss
Oh we'll this will be a sock drawer card for me and I heard it is a good credit rebuilding card. It's my first unsecured and hopefully after a year I can drop it like it's hot and get Barclay or AMEX. The credit one card comes with a free monthly experian score though. I'm cool with that! Anybody have any rebuilding success stories with credit one?

Does it come with credit monitoring along with the score?  That would probably be more helpful than the score itself

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 2 of 21
rightcoast
Frequent Contributor

Re: Credit One Bank Card Activiated!

Yea it does! It was the best sub-prime card I found after extensive review searching. I probably could have got a better card but I did not want anymore hard inquiries. Got four within a year and I was pre approved for this one. I will let everyone know how it affects my credit overtime

Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Message 3 of 21
Rhaeny
Valued Contributor

Re: Credit One Bank Card Activiated!


@Jutz wrote:

@rightcoast wrote:
Just my credit one bank cad in the mail! 300 limit and 75 dollar annual fee already on the card! Yessssss
Oh we'll this will be a sock drawer card for me and I heard it is a good credit rebuilding card. It's my first unsecured and hopefully after a year I can drop it like it's hot and get Barclay or AMEX. The credit one card comes with a free monthly experian score though. I'm cool with that! Anybody have any rebuilding success stories with credit one?

Does it come with credit monitoring along with the score?  That would probably be more helpful than the score itself


It just shows a score and not any monitoring included...so it's useless because its FAKO.  Also make your payments from your bank and not online at Credit One.  They charge a fee I believe for payments made at their website.

 

As for using the card, I never had any issues with it because I PIF each month.  It wasn't until AFTER I got the card I realized that it was a sub-prime card.  I will close out the account before the AF hits as I don't need it anymore.  The weird thing is that a few months after getting the card I was able to get a lot of new credit.  So I'm not mad at them because in all likelihood they helped me, but I will not be paying them anymore fees so they will have to go.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Message 4 of 21
rightcoast
Frequent Contributor

Re: Credit One Bank Card Activiated!

I understand. Like I said I'm rebuilding and hoping this helps me out. I heard they are fairly generous with CL increases. The credit score I heard is legit and I use creditkarma for monitoring so thats okay. As far as the annual fee I'm okay with it for now they gave me a chance and I wouldn't be surprised if I could have them drop the AF to keep me around!? Thanks for your comments

Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Message 5 of 21
rightcoast
Frequent Contributor

Re: Credit One Bank Card Activiated!

I will link my checking account to make payments if that's what you mean. Thanks for the heads up

Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Message 6 of 21
ds3
Regular Contributor

Re: Credit One Bank Card Activiated!

Congrats! I know the feeling of finally get a preapproval...I got this card last month, and jumped on it. Don't let others rain on your parade...it's a rebuilder, and it will get you where you're heading. I PIF last week, and there was no charge for paying through their website.

Message 7 of 21
Rhaeny
Valued Contributor

Re: Credit One Bank Card Activiated!


@rightcoast wrote:
I understand. Like I said I'm rebuilding and hoping this helps me out. I heard they are fairly generous with CL increases. The credit score I heard is legit and I use creditkarma for monitoring so thats okay. As far as the annual fee I'm okay with it for now they gave me a chance and I wouldn't be surprised if I could have them drop the AF to keep me around!? Thanks for your comments

The score that they show you is a FAKO so don't be fooled.  There is nothing legit about that score.  You cannot use that score to determine any creditworthiness at all.  The only place to get your real EX score is from a lender pull or if you have a bank account with PSECU.  Other than that you don't know it.  Credit Karma, Credit Seasame, Quizzle, etc. are all FAKO scores.  If the score doesn't implicitly state that is is FICO then I am afraid that it is not.  


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Message 8 of 21
rightcoast
Frequent Contributor

Re: Credit One Bank Card Activiated!

That's great news! We are on our way. Good to know there isn't a charge for paying on the site. Everything looks proper to me. Did your credit score update on the site? It says it takes a while

Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Message 9 of 21
rightcoast
Frequent Contributor

Re: Credit One Bank Card Activiated!

I have my fico from a recent pull from capital one so I will compare and update. Most fako I have seen have been within 10 points or so. Except for my expperian plus score. It says I have a 717!

Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Message 10 of 21
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