Credit one credit card worried.

[Anonymous]

So I am a first timer credit card holder. I got re approved of the credit card "credit one". It sounded good to me Aslong I paid everything on time or before the duedate even if it had a high interest. Anyways. I have couple questions about it, and I am freaking out about it after reading all the reviews and all the nonsense charges fees and charging extra to make the payment online. I I don't trust mailing money through mail. What should I do? What's a good payment method for credit one?
I am also wondering once I pay off what i used does my limit go back to normal ? Or you get an increase once i finished and paid off the credit limit they gave me "300$" . It's very confusing. I can't get a hold of a representative to ask, but after reading the reviews and their experiences with them I rather ask someone on here who experienced it. Also the$8 monthly charge do I have to pay that along with the balanced I have used every month? Do they charge me the interest of I am late on the payment or not pay it ? Someone please help me. My credit is bad and I want to rebuild it and apply for other credit cards and not stress over this since I know there are better and reasonable no annual interest credit cards.

[creditguy]

You can make a payment through your banks online bill pay to avoid paying an online fee to credit one. Your monthly fee of $8 is charged to your account and is reflected in your monthly balance. For example, if you charge $25 this month and they charge your $8 fee, you have a balance of $33 plus interest charges. You can pay it off or pay the minimum. Once you pay off any balance your credit limit returns to $300. Getting a credit limit increase will depend on your usage and the banks rules. Credit one sometimes charges for a CLI so you may not even want one. Use the card for small charges and pay it in full every month and you will help rebuild your credit.

[Anonymous]

I agree that the best option would be to pay your bill through your bank's online bill pay. 

You won't be able to spend more than $300 for the first 3-6 months. If you pay your bill in full each month, you will have $300 availabe credit again. If you charge $100 and make a $50 payment your available credit will only be $250.

The $8 fee you have to pay every month since it is a monthly charge.

If you pay everything every month there is no interest. You only pay interest on the amount that you didn't pay off yet. If you charge $100 and make a $50 on time payment, you only pay interest on the $50 you didn't pay. However, if you miss a due date and pay late you may pay interest on the $100 PLUS an additional late fee. 

[Anonymous]

Thank you so much @m_Cash . Your message was clear and easy to understand. I have another question , once I pay off my balance , within how many days do I have to wait for it to go back to $300 .

[Anonymous]

Not that long. As soon as Credit One processes your payment, you will go back up to $300. Usually no more than 2 days after you make a payment.

[Anonymous]

You're only charge a fee to pay online if you are doing the express payment. Otherwise it's free to make a payment through the website.
And credit one does charge you interest on purchases as there isn't a grace period. You're charged interest as soon as the transaction post.

[grillandwinemaster]

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@Anonymous wrote:
You're only charge a fee to pay online if you are doing the express payment. Otherwise it's free to make a payment through the website.
And credit one does charge you interest on purchases as there isn't a grace period. You're charged interest as soon as the transaction post.

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As a former credit1 card holder, I can say that Breezy is correct on all points. 

The best thing to do a with credit1 is to stop using it like it's a rewards card. It's NOT!! It sounds like you want to use it more than you need to. Charge something small like Netflix every month for the next six months and then close the account. 

At that point you should qualify for better cards assuming everything else in your report is good. 

[grillandwinemaster]

Also, under no circumstances should you try to "grow" this account. You Don't need to worry yourself with such trivial matters with credit1.

After 6 months, close it, NO MATTER WHAT!!

[Anonymous]

@grillandwinemaster thank you so much for your advice I am very graceful for this
I have heard crazy things about credit one.
I did plan to use it till the end of the year just to get my credit up! I recently received the card too. To it works out ! Thank you again !!

[Anonymous]

One other major issue with Credit One: I believe you can only make a small number of payments each month free, like 3 or 4 max. So if you plan to try and run alot thru, making several payments thru out the month, I believe Credit One will force you to pay for "express" payments. It's a joke. Credit One looks to make ridiculous fee's on everything. It really is a card for people with little or no credit, or terrible credit. I'd advise to go the secured route over Credit One any day. I had it for 12 month's and while it did help me to grow my credit profile, I closed it out prior to the second year's AF being charged.