closing CreditOne....tips??

[Anonymous]

I am working towards closing my Credit One card.  I know they get bashed but they gave me credit when no one else would, and because of them I have now been approved by Cap1 twice.  It is time to say thank you and move on!

So, two issues...how do I manage to get this card at zero balance?  This seems difficult due to no grace period on interest.  Would paying card to zero at statement and then paying interest charges the day the statement posts work? I know overpayment is generally not accepted but has anyone been able to make it happen and how?

Then, once I get the balance to $0, any tips on the actual cancellation. Other than just being firm?

I know they are difficult and shady and I knew that all going in.  I want to be as prepared as I can to ensure success.

[Anonymous]

Just be firm and say no to every offer. Watch your login and reports closely for the next few months.

[Chris679]

Here's how I close/cancel anything:
Step 1: politely explain that I would like to close/cancel account
Step 2: they ask why and try to convince you to keep it open because that's their job
Step 3: firmly but politely reiterate my request to close/cancel and make it clear that I am not happy about having to repeat myself
Step 4: (have never gotten this far) they try again to convince me to keep open
Step 5: talk to CSR like they are a small child and request that the account is closed or I would like to speak to supervisor

[core]

Step 6: Write down the person's name and record the call if possible

Step 7: Try to get the person's home address so you can pay them a friendly visit when you find out next month that they never closed it

[ecxpa]

They don't take cancellation easily.  I closed it immediately after my last payment and they continue to bombard me with offers.  Took them about a month before they reported it closed.  Website still shows available credit.  Guess they are waiting for me to charge something

[mo6579]

Make your charges, pay them asap. Wait for statement to cut, pay the interest charge.The only amount that will report at that point will be the interest. Your account will be $0 after paying it.

If you are paying an AF, close it. Otherwise, leave it open and charge nothing until the AF kicks in. Then close it.

As for closing, just call the number on the card. Say you don't like the AF. They told me they'd waive it for 3 months. I just said no thank you, I'd like to close the account. Another offer about APR came up and received the same response. She said I'd receive a confirmation in the mail in x days. Sure enough, about 2 weeks later I received a confirmation that the account was closed via mail. Have been bombarded by email and mail each week since for an offer to reopen my account and "Get 1% cash back on gas purchases!".

Also, something that confirmed to me that she closed the account: On the "My Offers" page, I went from 4 options to 2 as soon as the call ended (can't remember which ones). I will also add that CreditOne was great for me as well; They charged no AF for the first year and gave me credit when my only offer beside the 2 comenity cards was FP and they wanted $175+ in fees upfront. But with other accounts now, they certainly weren't worth paying to keep.

[Anonymous]

I've never had an account with Credit One (although I get something in the mail from them once in a while), but I've read on this forum about their business practices. I'd recommend calling and asking to make a payment of the full balance and close the account at the same time. Then you won't have to worry about the interest charge over a few days. Even if you have to pay a fee to pay over the phone, it might be worth it to make sure that you actually get the account closed.

Make sure you write down the name and employee number of the person you talk to when you close the account. If you have the means to, record the call. I recorded a call I made with my phone company once, and it was amazing that they suddenly fixed everything when I started playing the tape back to them.

Good luck getting the account closed. Congratulations on moving up to better cards!