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Regular Contributor
Posts: 167
Registered: ‎12-08-2010
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Re: Credit one: annual fee every month?!

I guess this is definitely a case of YMMV.  MOST people seem to hate CreditOne but if they were helpful in your journey that is all that matters.  I've never used them as Capital 1 was my jumping point but if they work for you then thats great.

PenFed Rewards Visa Sig-$14,000 | BofA Plat Visa-$12,500 | Discover IT-$11,000 | NASA-$7,500 | WF Cash Rewards Visa-$6,800 | BofA Cash Rewards Visa Sig-$6,500 | Barclay Rewards MC-$6,000 | Cap1 QS Visa Sig-$5,750 | Citi DC-$5,500 | Cap1 Venture 1-$4,500 | Cap1 QS-$3,400 | Chase Freedom-$3,400 | AMEX BCE-$2,000 | Lowes-$15,000 | Home Depot-$5,000
|Current Score(2/19/2016)|| 709 EQ || 734 TU || 729 EXP ||
Frequent Contributor
Posts: 255
Registered: ‎11-03-2015
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Re: Credit one: annual fee every month?!

Nice thing about credit one is no hard pull, so if you can't get a cap1 card its a good start for 9 months, then you gotta start the cancelling war with them.

Starting Scores 8/24/14 FICO TU:507 EQ:500
Scores as of 1/1/2016 FICO TU:633 EQ: 622
Scores as of 1/1/2017 FICO TU:759 EX:693 EQ:694
19 Inq on all reports
Goal Score 750 FICO across the board (FINALLY OVER 750 ON TU WOOT!)
New Contributor
Posts: 70
Registered: ‎05-29-2015
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Re: Credit one: annual fee every month?!

I should have canceled them a lonnnnnnnnng time ago more like two years! I love Capital One. Matter of fact I opened my accounts at the same time Cap 1/Credit 1.,.,, my limit with Cap 1 is now $5000 and Credit 1 is still sitting at $800. That's when I realize something wasn't right and I'm now I'm glad I came to my senses!
Super Contributor
Posts: 15,238
Registered: ‎04-22-2013
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Re: Credit one: annual fee every month?!


Mantis350 wrote:

I guess this is definitely a case of YMMV.  MOST people seem to hate CreditOne but if they were helpful in your journey that is all that matters.  I've never used them as Capital 1 was my jumping point but if they work for you then thats great.


Well yes, but there is also an educational point.   In almost every space, you will find people happy with what they have, being unaware how things really rank with competitors.    

 

(OT, but my most blatent experience of this was when looking for childcare.   Everyone we met sent their child to the *best* family daycare, wherever they went.   Of course, for that type of decision there is a big emotional need to believe that you have made a great choice.  You rarely hear "Oh, I send my 3 year old to X.   It's pretty crappy and not that safe but it's cheap")

 

So while Credit One might have apparently helped a lot of people, it may not be the best choice anyway.   Cards from cheaper issuers (such as Cap One) might be better for those that can get them

 

Valued Contributor
Posts: 2,303
Registered: ‎11-13-2014

Re: Credit one: annual fee every month?!

Now that you truly understand the evil that is Credit One, you have really become one of us. Welcome, MyFICO sister.

EX: 800+; EQ: 800+; TU: 800+ --> Entered the garden on 11/15/14. Planning on leaving around 1/1/17.
Established Contributor
Posts: 720
Registered: ‎06-11-2015

Re: Credit one: annual fee every month?!


takeshi74 wrote:

Wifey32 wrote:
Credit one: annual fee every month?!

If it's every month it's not annual.

 


Wifey32 wrote:
Company is a rip off!!!!!!!!! Fees for this fees for that! 

Were you not aware of all this prior to applying?  Make sure you're carefully reviewing cards before you apply.


The first year the fee is one lump sum after that the annual fee is broken down into 12 payments. 

Fico 8 starting scores 09/27/15 EQ: 646 TU: 622 EX: 668 5 collections 1 PR reporting across the board
Scores 06/30/16 EQ: 685 TU: 699 EX: 695 1 collection now reporting on EQ and EX and 1 PR on EQ
Current scores 11/4/2016 EQ 688 TU: 705 EX: 736 No collections no PR/Judgements Finally Clean
Valued Member
Posts: 28
Registered: ‎07-11-2015
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Re: Credit one: annual fee every month?!

Thank you myFico Forum!  I just got my second bill for the monthly "annual" fee of $8.25 with interest.  No option to speak to a rep on the phone. Anyone have a phone number that will get me to a rep?  This was my first card after Ch7 17 months ago.  I think it's time to scrap this card, it won't change my aaoa much.

Valued Contributor
Posts: 2,303
Registered: ‎11-13-2014
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Re: Credit one: annual fee every month?!

Usually, there is a CSR number on the card itself. Hopefully, your rebuild is going well. I know I would rather have a secured card than Credit One.
EX: 800+; EQ: 800+; TU: 800+ --> Entered the garden on 11/15/14. Planning on leaving around 1/1/17.

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