Credit One

[rmm0707]

So my friend is starting to rebuild her credit. She currently has a Credit One credit card (with zero balance, 500 limit). Today she got approved for a Capital One credit card (500 limit). 

Is Credit One a crappy company/card? Should she cancel it now or wait a year until her score is better - its currently 630ish. 

She only has those 2 cards open, she's got a few that are closed,  and she has an auto loan. That's pretty much it for her credit debt. 

[Anonymous]

I'm in that exact sitiuation myself,

I have only had the credit one card for a few months but I have already tamed it, I can spend on it once every 3 months and pay before statement date, get no interest fees and even get a .05 cent credit, but as soon as 10 months go by I'm cancelling I heard its a nightmare to cancel and I dont want to get hit with the monthly af charge which makes it impossible to close.

[OmarGB9]

Yes credit one is crappy, and no that she has capital one (whom credit one tries to imitate, down to the logo), she should ditch them.

[Anonymous]

I would say tell her to run from Credit One fast, currently going through a fraud dispute and the handling and lack of communication is horrible, card hadn't been used in 8 months when the charge popped up, it wasn't an emv card, that didn't show up until I found the fraud charge. Then they don't want to talk to you about their investigation process. They keep implying I had used the card online before, I never did only 4 in person transactions, paid off, sock drawered the card in a locked office.

She should be good to app for a 2nd Capital One card then close the Credit One. 

[jeffery581]

credit one is either stupid and incompetent or both. After I closed my credit 1 earlier in 2015 they ended up sending me THREE refund checks because there 30 year old calculator is broken.  RUN!!!!!! then check your account for 2 months to make sure there are no surprises. don't even use it Pay the annual fee and them some. Close account and wait for a refund check. no grace period on purchases. Did I mention RUN? Get a secured card from a reputable company. Make em mail you a check for ten cents. HA!

[Imperfectfuture]

Agree secured card. Find local credit union, or sign up for sdfcu. I started with local credit union secured @ 500. Proud member of the blacklisted by credit one society. Also, anecdotal evidence suggests less favorable approvals, scores with credit one, though that is off hand folks stating their personal experiences. Anything (except first premier) is better than credit one.