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Member
VESSYLV7
Posts: 23
Registered: ‎07-22-2010
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Credit One Bank credit card...what is the best way to NOT ACTIVATE and take it out of credit report?

The card is not needed any more as  Credit Builder card.

Credit score is over 700 so there is no need  for this card with only 400 $ limit.

 

    We applied almost 2 months ago and  just got the card.

We think to not activate it  in the 14 day period ,send them a CMRR with request to cancel it and to pay if  there is some fee ....

Please, need advice how to deal with this issue....

Epic Contributor
Creditaddict
Posts: 22,064
Registered: ‎10-23-2007
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Re: Credit One Bank credit card...what is the best way to NOT ACTIVATE and take it out of credit rep


VESSYLV7 wrote:

The card is not needed any more as  Credit Builder card.

Credit score is over 700 so there is no need  for this card with only 400 $ limit.

 

    We applied almost 2 months ago and  just got the card.

We think to not activate it  in the 14 day period ,send them a CMRR with request to cancel it and to pay if  there is some fee ....

Please, need advice how to deal with this issue....


You applied and it's open, to late now... not activating it will do nothing.  Call when you receive and tell them you do not want the product anymore and ask that all fees be credited back to the account so you don't have a balance, check it next month to make sure everything was credited correctly and they don't start making it late on you.

Further more did your score jump over 700 after you applied for this... the Max limit on this card use to be $1000 although someone last week had $1700 or something but why would you apply for it to begin with? lots of fees~!

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Contributor
LilloEsquilo
Posts: 318
Registered: ‎05-08-2011
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Re: Credit One Bank credit card...what is the best way to NOT ACTIVATE and take it out of credit rep

From what I've read these guys are big trouble. Try googling them and the amount of complaints are just unreal. You would do well to get far, far away from them taking as little damage as you can.

FICOS 2/2012 EQ: 763 TU: 761 EX: 746 (1/2012 EX)
Cards: Associated Bank Visa 9000, Paypal Mastercard 3000, Amazon Store card 1100, Barclays Apple Financing 2500, Cap One Rewards Mastercard 3000
Epic Contributor
Creditaddict
Posts: 22,064
Registered: ‎10-23-2007
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Re: Credit One Bank credit card...what is the best way to NOT ACTIVATE and take it out of credit rep


LilloEsquilo wrote:

From what I've read these guys are big trouble. Try googling them and the amount of complaints are just unreal. You would do well to get far, far away from them taking as little damage as you can.

 

I believe this can be a good card when you are rebuilding... look up any bank that offers sub prime cards for rebuilding and you will see endless claims of terrible things the bank did, and I'm not saying they are not all real claims and that I have not had my own issues with some of the companies but outside of that I signed up for them because I needed them to get my rebuilding going so if that means taking my level of watch and fear of bad things to 200% that's what I am going to do...

 

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
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Valued Contributor
improvingmycredit
Posts: 1,402
Registered: ‎07-12-2011
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Re: Credit One Bank credit card...what is the best way to NOT ACTIVATE and take it out of credit rep

+1  To Creditaddicts Statement

 

I had this card for rebuilding and it was very good to me.  A LOT of fees but for me it was worth it to get where I am today.  If you compare all the other rebuilders, at least you can start and build a decent CL faster then most.  JMO.  I think all rebuilders are a royal pain one way or another.  :smileyhappy:


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

Member
VESSYLV7
Posts: 23
Registered: ‎07-22-2010
0

Re: Credit One Bank credit card...what is the best way to NOT ACTIVATE and take it out of credit rep

 

i started building my mom credit from 0 few months ago and applied for  Credit One card because I have one and help me  rebuild my  credit
Her file then was blank and now  is EQ 693 ,TU 730...I think in this situation there is no need  for this card .
The last thing I want have is LVNV owner of Credit One Bank destroy her credit with late fees and possible collection just to teach her a lesson... 
Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
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Re: Credit One Bank credit card...what is the best way to NOT ACTIVATE and take it out of credit rep


VESSYLV7 wrote:

 

i started building my mom credit from 0 few months ago and applied for  Credit One card because I have one and help me  rebuild my  credit
Her file then was blank and now  is EQ 693 ,TU 730...I think in this situation there is no need  for this card .
The last thing I want have is LVNV owner of Credit One Bank destroy her credit with late fees and possible collection just to teach her a lesson... 



Just curious... How did she go from no credit or score to such high numbers in just a few months? I had no score or credit and it's taken me 2+ years to rebuild and get the scores I have now, which aren't even as good as hers. I'd love to know what she did! :smileyhappy:
~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Established Contributor
2NE1
Posts: 1,002
Registered: ‎12-06-2011
0

Re: Credit One Bank credit card...what is the best way to NOT ACTIVATE and take it out of credit rep

[ Edited ]

bichonmom wrote:

VESSYLV7 wrote:

 

i started building my mom credit from 0 few months ago and applied for  Credit One card because I have one and help me  rebuild my  credit
Her file then was blank and now  is EQ 693 ,TU 730...I think in this situation there is no need  for this card .
The last thing I want have is LVNV owner of Credit One Bank destroy her credit with late fees and possible collection just to teach her a lesson... 



Just curious... How did she go from no credit or score to such high numbers in just a few months? I had no score or credit and it's taken me 2+ years to rebuild and get the scores I have now, which aren't even as good as hers. I'd love to know what she did! :smileyhappy:

Read her thread [http://ficoforums.myfico.com/t5/Credit-Cards/Fico-score-from-0-to-730-in-3-months-Thank-you-my-frien...] to find out how she did it.


Starting Score: 486 EQ, 529 TU, 518 EX 12/6/2011 (FICOS - lender pull)
Current Score: 595 EQ SW 1/10/13 628 TU08 1/10/2013 593 EX (BoA HP) 1/5/12
Goal Score: > 620
Take the FICO Fitness Challenge! | Diamond Spade Garden Club Member: App free since 7/2012
Established Contributor
lithium78
Posts: 930
Registered: ‎07-30-2011
0

Re: Credit One Bank credit card...what is the best way to NOT ACTIVATE and take it out of credit rep

Credit One gave me credit when a lot of other places wouldn't, so I'm grateful for that.  That being said, they aren't a card that you want to keep long-term because their fees are ridiculous.  They even charge a fee of $19.95 for CLIs of $100 at a time.  No, thank you.  I'm ditching Credit One along with my other cards with AFs once I zero out my utlilization on the last card I owe a balance on.


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

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Mega Contributor
LS2982
Posts: 15,436
Registered: ‎04-09-2011
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Re: Credit One Bank credit card...what is the best way to NOT ACTIVATE and take it out of credit rep


VESSYLV7 wrote:

The card is not needed any more as  Credit Builder card.

Credit score is over 700 so there is no need  for this card with only 400 $ limit.

 

    We applied almost 2 months ago and  just got the card.

We think to not activate it  in the 14 day period ,send them a CMRR with request to cancel it and to pay if  there is some fee ....

Please, need advice how to deal with this issue....


I don't see them removing it , but you may be able to get the fees waived. call them.




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Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014

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