Good Morning,
This is just my opinion and how I use my Credit 1 card.
I knew what I was signing up for I have been getting the pre-apps in the mail for almost a year and I finally said well all I have is a Cap 1 with a $300 CL. SO I decided to apply and I got approved for $300 well I knew there was an AF and when my card arrived I would only have $225 in credit. The card is not active until you call them and tell them you want it activated or I believe you can do it online too. Anyway while I was waiting for the card to arrive I tried some Synch cards and got approved for an Amazon card. This was the reason I wanted more CC's because i shop a lot on amazon. So i thought the limit was nice on my Amazon that I wouldnt need the Credit 1 card.
When the card got here I called to say I didnt want the card and to make sure they hadnt already activated it. Of course they tried to convince me to stay and I said the AF is to high for this amount of Credit. So a "supervisor" got on the phone and said we will raise the limit to $900. So I stuck around and honestly its not a bad card, the APR is rather on the high side of course and there is no grace period at all. I cant say I have had any problems with the card as of yet.
What I dont think is right is the charge to request a CLI and if you dont use the Express Payment Service you can wait up to 5 days before the money is back in the account to have available credit. But I have plenty of other cards now so that is irrelavent at this point.
What I plan to do now is wait the year since I paid the AF as soon as it posted with was $75.00 and I will zero the account out one month before the renewal date and cancel the card because its just not worth having anymore. I'm sure they will try to keep me around but this time I will be firm. The bottom line is when I needed credit they were there, some of the policy's stink but they know the situation most people are in when they apply so it's baically take it or leave it kind of attitude they have.
One thing you definaetly DO NOT want to do is carry any balance EVER !!! If you can PIF everytime the statement is cut. On a positve note they recently started the 1% back on purchases and I have recieved one credit statement so far but its minimal. My advice BE CAREFUL with this card
Have a Great Day and Happy Holidays
