Thats why we recommend avoiding the vulture lenders entirely *when possible*. And if you do find them to be necessary, keep them only until you can get something less predatory, and then kick them to the curb before annual fee time rolls around. Don't feed the vultures and they will eventually die off.
+1,000,000
I had to have a Credit1 to start with since I was rebuilding. I paid it on time for 3 months (they even gave me a CLI). My credit hit and I was able to get a QS1, a Venture, and a Chase Freedom within a few months. I just recently PCd my QS1 to QS and dropped their annual fee just by chatting (something I read about here).
I turned $600 with Credit One into $23k in CLs in about 6 months while making on time payments. Now I'm using credit to help my wife clean up her reports and look forward to buying a house early next year. I even started getting mail offers for no AF cards. You can do it.
By the way, Credit One AF comes due in November. I will cancel that card in September! Good Luck to YOU!
