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Credit One.. No, Not Capital One!

Regular Contributor

Credit One.. No, Not Capital One!

Have you guys heard of Credit One? I consider them the Capital one knock off.. even their symbol is almost identical to Capital One's... I once heard they are actually an entity of First Premier.. Anybody here have a Credit One card? Thoughts, Feelings?

Goal: 700 and an Amex Card!

Chicks Dig Guys With Good Credit Smiley Happy
11 REPLIES
Super Contributor

Re: Credit One.. No, Not Capital One!


Tommy5746 wrote:

Have you guys heard of Credit One? I consider them the Capital one knock off.. even their symbol is almost identical to Capital One's... I once heard they are actually an entity of First Premier.. Anybody here have a Credit One card? Thoughts, Feelings?



I believe that they are along the lines of First Preemie, although the fee structure may not be quite as involved....

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Regular Contributor

Re: Credit One.. No, Not Capital One!


Tommy5746 wrote:

Have you guys heard of Credit One? I consider them the Capital one knock off.. even their symbol is almost identical to Capital One's... I once heard they are actually an entity of First Premier.. Anybody here have a Credit One card? Thoughts, Feelings?


A rebuilder card - nothing to do with cap one, or First Premier - Annual fees mostly billed monthly - high interest rates, and some cards (maybe all) have no grace period on purchases. I had one years ago started as a first national bank of Marin card if I remember. I kept it around for years just for age , but cancelled it immediately when they started the no grace period thing.

Frequent Contributor

Re: Credit One.. No, Not Capital One!

They were one of my first rebuilder cards.  Started with a $350 limit in 2006 and with auto CLIs up to $1400.  They just recently started a fee for auto CLI so I guess I won't get anymore.  I will be closing the before too long.


Starting Score: 639 (Walmart TU)
Current Score: TU 668 EX 649 EQ 657 (All Lender Pull 1-13-2012)
Goal Score: 700 Across the Board (Mortgage Goal Achieved 1/31/2012!)


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Mega Contributor

Re: Credit One.. No, Not Capital One!

Stay away from them OP! No grace period for charges, interest from dat of charge posting. Really not worth it!



EQ FICO 548 3/3/16
Regular Contributor

Re: Credit One.. No, Not Capital One!

After more research they are basically first premier only in disguise..  It's like dressing up Robin in Batmans costume.. He still sucks just "looks" better....

Goal: 700 and an Amex Card!

Chicks Dig Guys With Good Credit Smiley Happy
Mega Contributor

Re: Credit One.. No, Not Capital One!

i wouldnt have a problem with creditone as a rebuilder if they didnt charge interest from date of posting/no grace period. Whats the point of getting the card? there are other rebuilders (even FP) who dont do that!



EQ FICO 548 3/3/16
Epic Contributor

Re: Credit One.. No, Not Capital One!

I think Credit One is still a HUGE jump up the rebuilding latter from First Premier!

If money is not an issue while rebuilding I think they are better then First Premier, HSBC, and Capital One basing that you start at $300 with all those accounts... Cap1 might take the lead at 6 months by jumping to $500 in credit steps but Credit One will give you $150 or $100 CLI I believe every 6 months.... HSBC might also put you up to $500-$600 but probably nothing after that and Cap1 usually doesn't go up more either... I started wtih $300 back in 2007 and kept it for about a year and half or so and was up to $900 I think it was.... I never had issues at all, just costs a little more to deal with them but at those limits what are we really talking in no grace period for interest! I don't think it's enough to stay away from.

 

Otherwise I much rather do secured with a good bank that will unsecure.

Mega Contributor

Re: Credit One.. No, Not Capital One!


Creditaddict wrote:

I think Credit One is still a HUGE jump up the rebuilding latter from First Premier!

If money is not an issue while rebuilding I think they are better then First Premier, HSBC, and Capital One basing that you start at $300 with all those accounts... Cap1 might take the lead at 6 months by jumping to $500 in credit steps but Credit One will give you $150 or $100 CLI I believe every 6 months.... HSBC might also put you up to $500-$600 but probably nothing after that and Cap1 usually doesn't go up more either... I started wtih $300 back in 2007 and kept it for about a year and half or so and was up to $900 I think it was.... I never had issues at all, just costs a little more to deal with them but at those limits what are we really talking in no grace period for interest! I don't think it's enough to stay away from.

 

Otherwise I much rather do secured with a good bank that will unsecure.


I've had their card since June '11 and they are officially SD'ed from here on out until the year mark then closed.

 

I hate paying interest for nothing!




EQ FICO 548 3/3/16
Established Contributor

Re: Credit One.. No, Not Capital One!


Tommy5746 wrote:

Have you guys heard of Credit One? I consider them the Capital one knock off.. even their symbol is almost identical to Capital One's... I once heard they are actually an entity of First Premier.. Anybody here have a Credit One card? Thoughts, Feelings?


Not an entity of First Premier but Capital One does refer their turned down apps to Credit One.   Then........Cap One will watch your progress with Credit One and if your appear to be a good risk you will be offered a Cap One card.  Look at them as cousins!