@heygirlhey wrote:To each his own. I dont think you should knock something just because it isnt FOR YOU.
The card works for some, so it shouldnt be dismissed for people coming here looking for advice they should know that the card DOES help rebuild credit. It's easy to get, and they give CLI generously.
The credit one card will help you get a prime card fast if you use it smartly.
@39Xelor wrote:
@TRC2k13 wrote:
@39Xelor wrote:
Because you can easily get a low tiered capital one card or a secured card to start instead of creditone. Some lenders are very hesitent to lend you additional credit if they see credit one or first premier on your credit report!
Yep... my first CC was approved just days after my discharge... a $1000 Cap1 Plat.. that has since changed to a $1500 QS.
The Credit One and First Premier offers went straight into the garbage.
Right where it belongs
This is a forum where we like to help others. I would say the majority of people on here would not recommend either Credit One or First Premier for valid reasons. We are not knocking the cards for fun nor are we doing it to start a debate. We simple realize that there are much better ways of rebuilding or starting ones credit profile than to resort to Credit One or First Premier. As you said, people are here looking for advice and we want to give the best and most accurate information available and all that we have leads us to say, Stay away from Credit One and/or First Premier. With the right help we can get the majority of people on here a credit card without Credit One or First Premier. Why would we want others to pay a higher interest rate or "hidden" fees if they don’t have to? Yes, the card may work well for you and if it does then I think that’s great! However, that doesn't make Credit One nor does it make First Premier "good" credit cards to have.
@39Xelor,
I understand what you are saying, I have read those posts and wonder how much is urban legend and how much is true. I have also learned to recon more than once. I was turned down 2 times with chase and for kicks called back to play dumb and try to recon my last chase app. They transferred me to a senior analyst and he was very nice, asked lots of questions and for me to elaborate on different issues in my report. It was clear had it not been just over 30 days he would have granted my Freedom or Amazon apps. My reason for calling was to better understand why I was denied. My take away was always recon, be respectful, and have an open conversation pleading your case. I am getting close to be able to close my credit one account but do not want to act out of haste.
With that in mind, I am confident I could justify my use of Credit One with any Credit Analyst on a Recon. A spreadsheet might flag it but a person would understand.
Current Score: EX 712 4/28/15, TU 713 4/14/14 lender pull, EQ 723 9/16/15, 740 EQ bankcard 8 6/1/15 lender pull
Hmm, in my time of having the CREDIT ONE I havent run into any hidden fees. I've only been with them under a year so maybe the hidden fees come later?
I think if I keep posting about it because people might start thinking I work for them,LOL! (I Dont just for the record, hehe)
I just really want the people who come here looking for advice to see that IT IS an option. I dont want them to feel bad for picking this card because some of the members of this board like to $#!t on it. (For lack of a better word)
In the end you have to do what's best for you. Those that have had some misfortunes, such as myself, had to restart out at the bottom of the barrel. January 2012 I too had a Credit One card with a $500 CL. At the time they offered me the best solution for my particular situation. Could I have gotten a secured card? Probably, but the best offer I had was Credit One so I took it.
I used Credit One to build my credit up and as you can see from signature, Credit One didn't stop anything from moving forward. If anything it helped. I would say that well over 95% of my apps were approved with an instant decision.
All of the credit I have has been achieved AFTER Credit One showed up on my reports, and of course it is still there today.
For those of you who do have Credit One, use it as a stepping stone while you're cleaning up your credit.
With that being said, for those that don't have it, you should seek out other alternatives as well as Credit One and make sure you select the best offer for your particular circumstance.
@heygirlhey wrote:Hmm, in my time of having the CREDIT ONE I havent run into any hidden fees. I've only been with them under a year so maybe the hidden fees come later?
I just really want the people who come here looking for advice to see that IT IS an option. I dont want them to feel bad for picking this card because some of the members of this board like to $#!t on it. (For lack of a better word)
hihi ... i dont know what kind of fee people keep complaint about ??? im only pay 17.9 APR and 35 AF and 1% cash back on gas and that's it . If it 24 APR and 75 AF then im sure it is little expensive but it is much better than FP card . CAP 1 secured card deny me when im try to apply , but after i got Credit one , CAP1 finally give me a secured credit card , like you did said : credit one DOES help rebuild credit. It's easy to get, and they give CLI generously.
The credit one card will help you get a prime card fast if you use it smartly
@heygirlhey wrote:Awesome post RHAENY. Curious to know, how soon after you were accepted for your prime cards did you cancel the CREDIT ONE? Also, how long did you have the card? I am debating now on canceling since I've had it under a year.
@Rhaeny wrote:In the end you have to do what's best for you. Those that have had some misfortunes, such as myself, had to restart out at the bottom of the barrel. January 2012 I too had a Credit One card with a $500 CL. At the time they offered me the best solution for my particular situation. Could I have gotten a secured card? Probably, but the best offer I had was Credit One so I took it.
I used Credit One to build my credit up and as you can see from signature, Credit One didn't stop anything from moving forward. If anything it helped. I would say that well over 95% of my apps were approved with an instant decision.
All of the credit I have has been achieved AFTER Credit One showed up on my reports, and of course it is still there today.
For those of you who do have Credit One, use it as a stepping stone while you're cleaning up your credit.
With that being said, for those that don't have it, you should seek out other alternatives as well as Credit One and make sure you select the best offer for your particular circumstance.
I opened my first major CC at my local CU for $900 in Sept 2012. I also got approved for a DCU Visa for $7500 in Sept 2012. Now that was a huge difference in CL's!
I believe I closed Credit One right after that. I know that I didn't do an entire year with them.
And to back track a bit, In between Jan and Sept 2012 I went nuts on the shopping cart trick. Got quite a few of those commentity cards during that time, however I had cleaned up quite a bit of my Equifax so that helped in getting those approvals. I kind of regret getting some of those because I don't use them, but they help with utilization when I need it. And of course I have gotten the message of "too many new accounts" as well..LOL!!
So I would say that if you can get a major CC then no need to keep Credit One and pay the fee since it is definitely interim CC.
Ah,I see.
I was just approved for a Discover IT (4k) and a Chase Freedom (600) so I will cancel, no hesitation then. I will miss the instant 1% gas credit though. 
I also have 2 store cards, one with a 900 limit and one with a 350 limit. I wont open any more store cards, only true credit cards from this point on.