topic Re: Credit One Platinum Visa/Milestone Gold MC Approved in Credit Card Approvals

Credit One Platinum Visa/Milestone Gold MC Approved

Erusidhion — Tue, 21 Apr 2015 09:25:57 GMT

So, I was going to NOT post these approvals because of obvious reasons but I will anyways because I've justified getting them for myself. So here goes. On April 2nd I replied to a pre-qualified mailer from Credit One for their Credit One Platinum VISA.

The terms they gave me were: $500 Credit Limit, 19.90% APR Purchase/Cash Advance, $45.00 Annual Fee and $0 Introductory Cash Advance Fee for first year.

Interest is calculated Daily as soon as a charge posts.

I cannot find my letter anywhere so I do not know what score/bureau they pulled. My justification for this card is that I only have a 14 month credit history, period. I have no prior credit history to help nurture my scores and I started with a thin file; basically nothing on it So I am going to carry this card for 24 months to pad my AAoA, utilization and max out my payment history on my credit report with good marks.

In the end I'm only paying $3.75 a month for this benefit, so $90.00 over the course of two years. It's not a bad investment to me for what I am trying to accomplish. Everyone has their reasons for a card like this; this was mine.

On April 20th, last night; I applied for the Milestone Gold MasterCard. They have a pre-qualification application just like Credit One that doesn't affect your scores so I tried it. I never received any pre-approval letters in the mail for this card. The terms they offered me were favorable for the purpose of what I am going to use it for.

The terms they gave me were: $300 Credit Limit, 23.90% APR Purchase/Cash Advance, $75.00 Annual First Year/$99.00 Thereafter.

Interest is calculated like a regular credit card.

In the end I'm only paying $6.25 a month for the first year, $8.25 a month for the second year. For a total of $174.00 over two years.

Again I justify this card because of the same above reasons that I gave to get the Credit One card. Will this be worth it in the long run for me? Hell yes. My file will be thick, my scores will be great in two years and I'm planning on buying a house in 2016/2017. For the amount of money I have to pay monthly for this benefit; it is worth every dollar to me. I have no plans whatsoever to ever actually use these cards for anything but small purchases to keep them active.

Now you might say, well Eru why don't you just get a First Premier or a Total Visa or a First Savings MasterCard or a Verve Card if you're going to go this route! Don't stop there just pay all the bloody fees you moron!

I draw the line when it comes to paying a 'processing fee' just to get a card. And then a monthly maintenance fee on top of the Annual Fee. Annual Fee is like a membership to me and it'll be my decision to patronize a certain company by paying that monthly cost (charged annual of course).

Like I said before. You have to justify these cards for yourself. But they are the lesser evil compared to the cards that charge Processing Fee + Annual Fee + Membership Fee. I thought I'd share because there may be some people who have these two cards that don't want to talk about them because they're embarassed. Don't be. They'll help your credit if you can justify the cost and not get yourself into debt!

In the meantime, I'm looking for more of these just Annual Fee cards to thicken my file. I am going to apply for a CLI on my Bank of America Secured card soon, pay another $99.00 for another $500.00 and I am probably going to apply for a Capital One Platinum. These next two steps should help out a lot in my overall credit plan.

Re: Credit One Platinum Visa/Milestone Gold MC Approved

Anonymous — Tue, 21 Apr 2015 11:02:35 GMT

There is nothing wrong with credit one bank or milestone. I have both. But I'm thinking of getting closing both since I've been approved for synchrony Walmart and amazon

Re: Credit One Platinum Visa/Milestone Gold MC Approved

Anonymous — Tue, 21 Apr 2015 13:06:11 GMT

Congrats

Re: Credit One Platinum Visa/Milestone Gold MC Approved

I-think-I-can — Tue, 21 Apr 2015 12:31:36 GMT

Congratulations! It sounds like you have found a plan that will work for you. I am sure your efforts will pay off. I started with Credit One when I began to rebuild and then Capital One and it has progressed since then. Stay focused and more doors will start to open!

Re: Credit One Platinum Visa/Milestone Gold MC Approved

Anonymous — Tue, 21 Apr 2015 13:31:09 GMT

Some people like getting paid to use credit.
Some people like to pay to use credit.

As long as you know what you are getting into, It's your wallet, not mine. Good luck on your journey, OP.

Re: Credit One Platinum Visa/Milestone Gold MC Approved

uswala — Tue, 21 Apr 2015 14:24:20 GMT

Congrats on the approval!

Re: Credit One Platinum Visa/Milestone Gold MC Approved

gdale6 — Tue, 21 Apr 2015 20:44:26 GMT

Grats on your new cards

Re: Credit One Platinum Visa/Milestone Gold MC Approved

One7 — Tue, 21 Apr 2015 21:30:29 GMT

Well said! Credit One helped me out in my journey and Ive gone far since I began 26 months ago. I started with nothing. I never had any issues with them, congratulations and good luck

Re: Credit One Platinum Visa/Milestone Gold MC Approved

Anonymous — Tue, 21 Apr 2015 21:32:30 GMT

Congrats..

Re: Credit One Platinum Visa/Milestone Gold MC Approved

Anonymous — Tue, 21 Apr 2015 21:38:41 GMT

Have you considered trying the SCT? In the past week I've gotten two no AF cards with a combined limit of $6,300. Granted, your CLs may be lower, but you could probably still get the cards.

Re: Credit One Platinum Visa/Milestone Gold MC Approved

Anonymous — Tue, 21 Apr 2015 22:41:55 GMT

Congrats

Re: Credit One Platinum Visa/Milestone Gold MC Approved

black_citi — Tue, 21 Apr 2015 23:17:27 GMT

Congrats on the approvals. Everyone must start somewhere. Some people can't get secured cards so these cards will be their only alternative. Its great you have a plan and know what you're doing.

Re: Credit One Platinum Visa/Milestone Gold MC Approved

AzaleaB — Wed, 22 Apr 2015 01:22:01 GMT

Congrats on getting started! Did the C1 thing too and it worked out.

Re: Credit One Platinum Visa/Milestone Gold MC Approved

Anonymous — Wed, 22 Apr 2015 02:23:13 GMT

I'm a little confused with your strategy, I likely just didn't read it correctly, it looks like you have a couple prime cards already. Either way, if you don't mind the fees, nothin wrong with more cards IMO.

Congrats!

I like many others started with Credit One and it helped tremendously. Never had any issues either. Just cancelled last month before the annual fee hit.

Re: Credit One Platinum Visa/Milestone Gold MC Approved

Pway — Wed, 22 Apr 2015 02:31:03 GMT

I'm not ashamed to say I have a Verve credit card. I got a pre approval letter in the mail and I applied for it. I was approved for a 500 cl and this was my highest credit line after bankruptcy. This was before I found myfico, and beside that all I had was my credit union secured credit card. I currently have one, but I am waiting till this year in October to close it before the annual fee hits.

Re: Credit One Platinum Visa/Milestone Gold MC Approved

Booboo71 — Wed, 22 Apr 2015 05:25:37 GMT

I have a Credit one card with a 17.9%intrest rate and $35 annual fee. I see capital one with higher interest and Barclays also. I've never had a problem with Credit one. I decided to keep it and use it every 4 months for something small. Also I do have better cards now but I keep it because my AA is low from SCT.

Re: Credit One Platinum Visa/Milestone Gold MC Approved

vertekal — Wed, 22 Apr 2015 16:58:48 GMT

I have a Credit One card .. they were the only company willing to trust me with an unsecured card. I started with $300 and after a month they upped it to $400 for free. I know the card is bad when compared to other cards, but I have to start somewhere.

I did get approved for a Cap One secured card, which I plan to get as soon as I have $500 that I can part with for a week or two until the card arrives.

My FICO jumped up a bit as soon as the card started reporting, which was about a month after receiving it.

Re: Credit One Platinum Visa/Milestone Gold MC Approved

CYBERSAM — Wed, 22 Apr 2015 18:17:38 GMT

Congrats!