Credit one bank

[tanwatson]

Should I activate my Credit One card? I have limited credit and recently I went on an App spree and was approved for a few store cards and Capital one. My scores Eq-614 Tu-628 and Exp-608. What should I do?

[Phizzle]

I would say if you can call to ensure no fees will be applied, it would be best to skip this particular card. It serves a purpose if absolutely necessary, but since you received other cards with lower or no fees, this card is not needed.

[PCMedic]

I would have to agree with Phizzle.  Unless you absolutely need the card to rebuild.. DON'T DO IT !!!

It has an annual fee, High APR and you have to pay an additioanl fee of 10-20% to accept a CLI offer. For someone trying to rebuild and this is the only card they can get, it may serve a purpose, but if you have other cards use them responsibly, pay on time and other cards will follow in time.

[dddewdrop]

    Save the money and get out. Be sure that you are very clear with them that you are not using the card, that you don't want it, and that you haven't ever activated it. You can build or rebuild your credit just as well without it. Save yourself the money. It is worth it. You did nothing wrong by applying for it but now that you were approved for better products, better to get out now. You don't need tons and tons of cards to rebuild. I am rebuilding now and have 2 cards. Long term it is great to have 3 or 4 tradelines aged but that particular product with its fees is the wrong one for you in your current situation, in my opinion. Good luck.

[Pilotdude]

I have one and it lives in my sock drawer. 

As soon as I land either Freedom or Discover I am feeding Credit One to my hungry shredder. 

It serves a purpose but once that purpose is served, its, as other have indicated, just not worth it.

[Rhaeny]

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@Pilotdude wrote:

I have one and it lives in my sock drawer. 

As soon as I land either Freedom or Discover I am feeding Credit One to my hungry shredder. 

It serves a purpose but once that purpose is served, its, as other have indicated, just not worth it.

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Just killed my Credit One today.  It felt soooo good to me.  They tried to talk me out of it telling my how great it was for rebuilding.  I said no thanks I have CL's that are 15 to 20 times more than you gave me, so yea ummm no thanks, just close it.  The thing is when I started building a year ago I didn't know any better not to get Credit One.  They are definitely the bottom feeders but like you said, they served their purpose and it's over.  Now I wish that I could erase them from credit report...LOL!

[ttaurean30]

I started rebuilding with credit one 7 years ago...

[Pilotdude]

I don't fault credit one. Thy take more risk then a lot of other companies.
They were fair with me a d I with them. I have simply outgrown them.
To be honest I would probably keep them if they would give me a 1500 limit and waive off the AF.
It would just be my dire emergency, stranded with no undies card. Lol
They have a high interest rate but a high interest rate of a 0 balance is ummm 0.

[scarzy]

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@tanwatson wrote:
Should I activate my Credit One card? I have limited credit and recently I went on an App spree and was approved for a few store cards and Capital one. My scores Eq-614 Tu-628 and Exp-608. What should I do?

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You have enough cards to rebuild. Just garden them, and soon, you will see approvals all over!