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Credit One Bank pre approval

Established Member

Re: Credit One Bank pre approval

just thought i would add in... i got the same pre-approval letter. i tried applying, thinking i had a chance, but then i checked online and was denied. i have to wait for the letter to see why.
Message 11 of 15
Established Contributor

Re: Credit One Bank pre approval

my auto is financed through Crap 1 (17%).  I have 8 months on on time/never late payment history.  I thought they were throwing me a bone with their "pre approval" .  So I said, ok ill give it a shot....Boy was I wrong......Smiley Surprised
Message 12 of 15
Frequent Contributor

Re: Credit One Bank pre approval

Credit One has been a good card for husband, who has trouble paying his bills.  He ran two months behind, at one point,  and before they reported to the CRAs they called to warn him, and didn't take away the card. Since then, they've raised his credit limit twice, and he's almost always at 70% utilization.  I'd give them a shot.
Message 13 of 15
New Visitor

Re: Credit One Bank pre approval

I have worked for Credit One Bank, and I just want to let anyone interested know the details of what they're getting into with this card.  I see too many examples of people misunderstanding te purpose of this card...

 

If your credit is less than stellar, use this card to start rebuilding.  A lot of people use it "for emergencies," but that implies that they don't intend to use it often, and thus may assume they don't need to pay on it every month.  PAY AT LEAST THE MINIMUM PAYMENT ($20) EVERY MONTH, and your credit will improve enough to get a higher limit, and you can improve it even more from there.  If you go over your credit limit, make it a top priority to pay that down, because the over-credit-limit fees can be overwhelming, and start a snowball effect.  If you plan to get this card for some quick emergency money, and don't plan on paying your debt, that will come back to haunt you.  There are plenty of fees, so realize that you'll likely start with a $200-$250 credit limit, and the fees will leave you with a little over $100 of initial available credit.  Basically, use this card to re-establish credit, and not just to temporarily get yourself out of a financial bind, and it will pay off by improving your credit over time.  Fall behind, and it will take time and money to dig yourself out of the hole.

Message 14 of 15
Established Contributor

Re: Credit One Bank pre approval

I like that they give me a fako score once a month.. I use online bill with BofA to make  payments, shows up in just a couple days.  No way id pay them to pay online!!! 

 

I would go with orchard if u get approved for them, they are better, less fees, no online payment fee, and auto CLI every 6 months or so.. higher starting CL too.

"WTB Access Number"
Message 15 of 15