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What is your absolute worst mistake with credit cards?

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SOGGIE
Valued Contributor

What is your absolute worst mistake with credit cards?

Other than payment defaults, in your entire history of credit, what do you feel is your absolute worst mistake you made relating to credit cards?

I will share my worst experience. Do not laugh. Many many years ago, I received pre-approved mailers from Capital One, Chase, US Bank, American Express, etc. I was so extremely tired and stressed to the max when I decided to respond to the invitations. I started with Capital One (sort of). Responded to the invite, and was informed that I was approved. When the card came I wanted to expel 50 hard bricks. What I inadvertently ending up responding to was Credit One, not Capital One. Their logos were similar, and this threw me off. I never heard of Credit One prior to this incident. When I learned about this company, and realized that I royally screwed myself. This was a very sad moment in my credit history.

Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben
Message 1 of 108
107 REPLIES 107
Anonymous
Not applicable

Re: What is your ablsolute worst mistake with credit cards?

Almost exactly what happened to you. I can't believe I was so stupid lol. I even jumped for joy that Capital One was sending me offers. Then I ended up with a $300 Credit One. Smiley Embarassed

Message 2 of 108
SOGGIE
Valued Contributor

Re: What is your ablsolute worst mistake with credit cards?


@Anonymous wrote:

Almost exactly what happened to you. I can't believe I was so stupid lol. I even jumped for joy that Capital One was sending me offers. Then I ended up with a $300 Credit One. Smiley Embarassed


I always wondered how many people this happened to.

Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben
Message 3 of 108
Anonymous
Not applicable

Re: What is your ablsolute worst mistake with credit cards?

I'm sure they get plenty of business this way. The logo is almost identical and then the name... I think somehow our brains just see C----- One and we associate it with what we already know. It's really deceiving, but I take responbonsibility for not reading like I should have.

Message 4 of 108
SOGGIE
Valued Contributor

Re: What is your ablsolute worst mistake with credit cards?


@Anonymous wrote:

I'm sure they get plenty of business this way. The logo is almost identical and then the name... I think somehow our brains just see C----- One and we associate it with what we already know. It's really deceiving, but I take responbonsibility for not reading like I should have.


Exactly! That was the other thing that threw me off (C and One).

Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben
Message 5 of 108
delaney1
Established Contributor

Re: What is your ablsolute worst mistake with credit cards?

Wow, that's terrible. Seems like they set up their company to purposefully get some of those people who wouldn't be paying attention.

Message 6 of 108
IncrsCreditScore1
Valued Contributor

Re: What is your ablsolute worst mistake with credit cards?

My worst mistake was just not paying attention to my credit, paying off the cards, then cancelling them (thought I was being smart about credit and didn't have a credit card for years), paid cash for everything except auto loan and mortgage.  Then when I did apply for a credit card, I was shocked to be denied, tried another and was denied - that started me into doing some research which led me to this forum.  After reading the messages for days, I finally started working on repairing my credit.  So my advice to everyone is to check your credit ratings on a scheduled, routine basis, and immediately take care of anything you see that is incorrect.

January 2018 Scores - EQ 797 | TU 800 | EX 798 | ~~Started Gardening Again on March 21, 2017
Message 7 of 108
SOGGIE
Valued Contributor

Re: What is your ablsolute worst mistake with credit cards?


@delaney1 wrote:

Wow, that's terrible. Seems like they set up their company to purposefully get some of those people who wouldn't be paying attention.


I was unsuccessful researching infringement lawsuits between Cap One and Credit One.

Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben
Message 8 of 108
NichelleN
Established Contributor

Re: What is your ablsolute worst mistake with credit cards?

One day I mistakenly thought I'd received a CapOne mailer until I looked closer. Those logos really are very similar.

More than enough credit.
Message 9 of 108
SOGGIE
Valued Contributor

Re: What is your ablsolute worst mistake with credit cards?


@NichelleN wrote:

One day I mistakenly thought I'd received a CapOne mailer until I looked closer. Those logos really are very similar.


Yes they are. I so wished I would have handled business during a time when I wasn't so tired and stressed.

Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben
Message 10 of 108
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