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Need advice on Credit One

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Anonymous
Not applicable

Need advice on Credit One

I'm rebuilding. Score are healing just a little bit. People on the boards have said to have 3 credit cards and one stallment loan etc for maximize credit usage. I have...

Personal loan (bank): 500$
Credit Card (Bank): 1500 (30%) utilization
Capital One QS: 300$ (9%)

Sent letters out to get 2 CA disputed and hopefully removed. Paid off one of my CA. Hopefully in July, three of my judgments will be removed.

595 fico

Question should I get the Credit One card? I almost hit the apply button last night. Need some advice.
Message 1 of 7
6 REPLIES 6
Anonymous
Not applicable

Re: Need advice on Credit One

My goals are mid 700s. Buying a townehome in 2 years. Selfishly want the AMEX BCE 😉 One day lol.
Message 2 of 7
pipeguy
Senior Contributor

Re: Need advice on Credit One

NO do not get Credit One - add a secure card from BOA or Discover if you have to, but avoid Credit One at all costs. Credit One requires an AF and a lot of fees (and grief), use you AF funds to get a secured card if you must have another card. Frankly you don't really need an additional card, you just need time for the derogs to drop off and responsible usage of those cards you currently have to improve your scores. 

Message 3 of 7
Anonymous
Not applicable

Re: Need advice on Credit One

If you decide you need Credit One - I did the pre-qualification on their site and was approved with the annual fee and the monthly fees and all that crap. I turned it down, and maybe a month later got a pre-approval in the mail for just a smaller annual fee ($45) without all the extra fees. 

 

At that point, I accepted it and they've tried to charge me for credit limit increases a couple of time. I've ignore the offer each time, and eventually they've ended up just giving me the CLI without a fee.

 

Still not the best deal, but a better deal then they originally offered.

 

 

Message 4 of 7
Anonymous
Not applicable

Re: Need advice on Credit One

Wow thanks. I appreciate the feed back I think I know what to do.
Message 5 of 7
Anonymous
Not applicable

Re: Need advice on Credit One

Thanks. I'm going to do this.
Message 6 of 7
CYBERSAM
Senior Contributor

Re: Need advice on Credit One

Go to your local Credit Union and apply for a secure card. Avoid Credit One with all cost

 

You already have QS, so no point getting a secure or subprime card. Just give it time and try to clean your file.







                
Message 7 of 7
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