Credit One Disappointment

[Anonymous]

I got my CreditOne card in May and have made payments when first two statements cut. So far, CreditOne hasn't reported anything to any of the CRA. Got Capital One in June, and they reported right away causing nice bumps to CS. Today, I called CreditOne to see why they hadn't reported. Basically, the CSR told me I needed to "sign up" to see my scores through their site. Following the links, it became apparent to do so meant a $12.95 fee. When I insisted I shouldn't have to jump through extra hoops to have them report to all 3 CRA, since that is what they advertised, she then came back saying to give 90 days for reporting to show on my reports. Very disappointed. I've now realized that I really didn't even need to apply for CreditOne, since I've since been approved for the CapOne, and just today DiscoverIT. So tempted to just cancel the CreditOne but will probably keep it for the year that I already paid the AF for to use for gardenting, and then dump them... Any advice?

[Anonymous]

Definitely your call. What do you really want to do?

[AverageJoesCredit]

Awesome job getting Discover and Capital One. Seems to me you are on right path! Cant really comment on Credit One but i would imagine eventually you'd want to close it to eliminate all their weird fees. Great job so far!

[Anonymous]

If you cancel a card, it stays on your report for 10 yrs i believe. So it's up to you.

[Anonymous]

Thanks Music and Average! I guess if they are really going to report, then I could use them and cancel before the next AF is due. I just wish I'd researched more in the first place. I think my student loan with no late payments ever is what put in in postion to get CapOne so soon after BK, and then the bump from CapOne reporting probably helped me get Discover. CreditOne hasn't done anything for me yet! I guess it wouldn't hurt to hang on to it.

[Anonymous]

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@Anonymous wrote:

If you cancel a card, it stays on your report for 10 yrs i believe. So it's up to you.

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Hi, thanks! I will definitely keep that in mind. The plan all along was to use it and then cancel after 11 months before the AF is due. 

[AverageJoesCredit]

That sounds like a plan. At the end of the year smile cuz you'll know you have a year full of history and growth with your CO and Discover. positive vibes all around!

[Vegas4Play]

They will start to report to all three it just takes time, If you have had the account since May it may start to report st the statement cut this month ( July) they do report tho I tho that. Mine didnt report for 3 whole months when opened.

[Anonymous]

Thanks!

[Vegas4Play]

No avoid fees on the card if you need it for utilization, call on month 11 to close it and they will give you an offer to waive the monthly fee on it for 6 months keep telling them no no no and they will give it to you for 12 months no fees...don't take the pay for limit increase, just wait and be patient and they will offer you 250.00 increase for free.

Also keep in mind there card starts to charge intrest on the purchase date..... there is no grace period, I found it better to push payments to them from my bank instead of logging in and paying it and having it pulled from my bank. They only allow you to make so many payments per month, when you login and pull payments.

Or you could just not use it.