Credit One Bank

[Anonymous]

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@Anonymous wrote:

I would not call them the worst. First Premier "Bank" has higher and more predatory terms. There are quite a few other companies that have higher predatory practices. They would offer me, pay for credit increases, until I payed off the card. After I payed off the card, without me calling them, they have dropped to fee, and offered me an increase without a fee. They are currently offering me another card, which I obviously will not take

It seems different people have different experience with this company, which is the official credit card of NASCAR. NASCAR viewer seem to be food for a lot of predators.

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I'm still getting mail offers from First Premier - the most recent one came in last week - even though I already have two unsecured cards with decent SL's, my FICO scores are averaging 649 at the last report and ought to keep going up slowly but steadily through the spring and summer until I'm ready to go card-hunting again in the fall, and I'm well along in my rebuild (not to mention in the garden, though of course they don't know that). At this point, I can't think they're still sending me offers for any reason other than to try to get some money out of me.

As for Credit One, considering that MyFICO accepts ads from them and includes them in the lists of options for people with "Bad" credit (just look at the top of this page), I suppose there's good in them and they're worthwhile as long as people study the options and go in knowing exactly what they're going to get and don't have unrealistic expectations.

[Anonymous]

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@jdxprs1 wrote:
I applied at credit one with a 590 credit score. They gave me a $500 limit at 18% with a $35 annual fee. They've since raised my limit without me even requesting it.

I guess I'll close the account someday when I have better cards but right now it's just as good as my Amex accounts.

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What AMEX card charges you those fees without an interest fee grace period!? I promise you your AMEX account is far better than your Credit One account.

[Anonymous]

Credit One is part of our favorte JDB the Sherman Companies which includes LVNV.  Until a few years ago with a management buyout their parent was MGIC which is a very respected mrge. insurance company.    

[Anonymous]

Good old USPS Informed Delivery (again, I highly recommend this free service) alerts me that another mailer from Credit One is coming in today's post. On looking at the scanned image, I see two things:

1) How the devil has Capital One not sued Credit One for trademark infringement? The font and the swoosh logo are IDENTICAL.

2) Credit One, with an extra bit of sneakiness, has apparently dressed this mailer up to look like the kind of envelope you'd receive an actual credit card in.

It is really frustrating that both of those bottom-feeders are regularly sending me bait to try to hook me, but that no reputable lender (with the exception of Discover, and I have a card already so I don't need or want any more mailers from them, so stop already, you guys) is sending me pre-qual mailers.

[Anonymous]

What do subscibe to get junk mail alerts?  Thanks

[Anonymous]

Im not sure that I understand why under ANY circumstances, someone would want to open accounts with predatory no-name banks. If you are rebuilding, most of the reputable banks (Citi, BOA, Discover) offer secured cards for this reason. At least there are hopes of eventually having an unsecured account with a major bank in the future. There is absolutely no reason whatsoever to give a borderline fraudulent lender your business... period

[Anonymous]

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@Anonymous wrote:
Im not sure that I understand why under ANY circumstances, someone would want to open accounts with predatory no-name banks. If you are rebuilding, most of the reputable banks (Citi, BOA, Discover) offer secured cards for this reason. At least there are hopes of eventually having an unsecured account with a major bank in the future. There is absolutely no reason whatsoever to give a borderline fraudulent lender your business... period

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I got turned down for a secured card from Discover in January.   I would say if you can get a no-fee visa/master card store cards are a good alternative.  Probably easier to just get a Kohls card and work up from there. Really what use is a secured Discover card with a 500 dollar limit anyway?  At least with a store card you get some benefits.