topic Re: Credit One Trick for better terms ;) in Credit Card Applications

Credit One Trick for better terms ;)

TraumaMomm2 — Fri, 13 May 2016 15:31:57 GMT

Not sure if anyone knows this or not-- but I found a rather helpful trick for obtaining a Credit One card with better terms. I did the pre-qual thing on their site, but just couldn't wrap my head around all the fees and such, so I didn't pull the trigger. A while later and I get an email from them with "A Better Offer".... Instead of the absurd interest rate, horrible fees, and $350 limit, their new offer was 19% interest, a $500 limit, and only $45 annual fee!!!! Also comes with 1% back on gas purchases, free credit score and automatic credit increase reviews. Of course I said yes

Just got the card today

Re: Credit One Trick for better terms ;)

Anonymous — Fri, 13 May 2016 16:41:55 GMT

That is good news for people who do not want to Fork out the money for secured card type of card for a year or more. My Experience with credit one was positive. most will tell you to get rid of it as soon as your scores make it possible which is good advice but we all have to start somewhere. I skimmed over their site last month and I think that NASCAR cards zero fees unless I read it wrong

Re: Credit One Trick for better terms ;)

NattyPButter — Fri, 13 May 2016 20:57:15 GMT

There credit score is BS. Has my score at 609 while my Fico scores are all at 695 or a point or two more and my Fako scores are at 705. Other then that I have not had a problem with them and never even paid a dime in interest. When I use the the card (rarely now) I paid it off within a week. People kept saying you get charged interest the moment you make a purchase but that was never the case for me. I even did a cash advance and never got charged interest on that and the CA fee is waived the 1st year. Will cancel the card in Oct since the limit is small even though they gave me an auto CLI in the 1st month. Like the other poster said it's not a bad card if you don't want to hand up money for a secured card, but if you plan to keep the card for more then a year, carry a balance and pay for those CLI then it's a horrible card.

Re: Credit One Trick for better terms ;)

Anonymous — Sat, 14 May 2016 12:54:11 GMT

Another trick, if they offer the cli for 19.95, ignore it. You'll eventually get it for free. Credit one has a horrific reputation, but really if you play the waiting game with them, they're no different than any other card. I never paid interest with them either. Their APR was lower than my QS1, and the annual fee is only $6 higher. Still a boring card, and has long been in the sock drawer, but if you do it right, they're not that thaaaat bad for starting out.

I think credit one trolls people. They throw these absurd terms out there and figure if you're willing to accept them, they own you. If you're smart about it they play nice. I was going to close before my annual fee hit in February, called them and they waived that fee. I've literally put $61 on this card in 15 months (all in 1st month), with 0 interest paid. Yet they still waived that fee.

Re: Credit One Trick for better terms ;)

Samac — Sat, 14 May 2016 15:09:04 GMT

Just curious why would you sock drawer a credit one card with an annual fee? How does it benefit you sitting there paying the fee?

Re: Credit One Trick for better terms ;)

Anonymous — Sat, 14 May 2016 15:38:29 GMT

I got the fee waived this year. When next February rolls around I'll see if they will waive it again, if not, I'll close it.

Re: Credit One Trick for better terms ;)

Anonymous — Sat, 14 May 2016 15:42:21 GMT

+1 For every well informed credit one user, there's 20 who are not, just like chase or amex.

Re: Credit One Trick for better terms ;)

creditguy — Sat, 14 May 2016 16:08:34 GMT

A $45 annual fee, 1% back on gas and a free fako credit score? Oh I see how any would totally jump on that. Sarcasm aside a credit one by any other terms is still a credit one, sorry but a $45 AF is still ridiculous. But hey if your happy then congrats!!!

Re: Credit One Trick for better terms ;)

Anonymous — Sat, 14 May 2016 16:48:53 GMT

I'd take credit1 over a secured card with an annual fee that never graduates. As subprime as they are, they report to the bureaus very quickly very consistently which is what you want.

There are better options out there I agree if you have a credit one I would be banging on that quick silver prequal every two weeks

Re: Credit One Trick for better terms ;)

NattyPButter — Sat, 14 May 2016 20:16:07 GMT

@creditguy wrote:
A $45 annual fee, 1% back on gas and a free fako credit score? Oh I see how any would totally jump on that. Sarcasm aside a credit one by any other terms is still a credit one, sorry but a $45 AF is still ridiculous. But hey if your happy then congrats!!!

probably can get that annual fee waived or cut short each time you try to shut off card. So I see no big deal if someone can get in at that low annual fee since a lot of secured cards are sitting at the same annuel fee or a little less and make you put down a deposit. Regardless most ppl shut down their secured card in a year or two and you can do the same with the Credit One card and put that extra money into savings. Also most of the secured cards don't offer any rewards; though the Credit One card is 1% it's still something along with their crappy credit score. Don't forget the you can also not qualify for a lot of the secured cards out thier especially if you filed BK recently. So you can be sitting their watching your score drop with each application until you find out Credit One will accept you.

Re: Credit One Trick for better terms ;)

Anonymous — Sat, 14 May 2016 20:59:09 GMT

@NattyPButter wrote:
@creditguy wrote:
A $45 annual fee, 1% back on gas and a free fako credit score? Oh I see how any would totally jump on that. Sarcasm aside a credit one by any other terms is still a credit one, sorry but a $45 AF is still ridiculous. But hey if your happy then congrats!!!

probably can get that annual fee waived or cut short each time you try to shut off card. So I see no big deal if someone can get in at that low annual fee since a lot of secured cards are sitting at the same annuel fee or a little less and make you put down a deposit. Regardless most ppl shut down their secured card in a year or two and you can do the same with the Credit One card and put that extra money into savings. Also most of the secured cards don't offer any rewards; though the Credit One card is 1% it's still something along with their crappy credit score. Don't forget the you can also not qualify for a lot of the secured cards out thier especially if you filed BK recently. So you can be sitting their watching your score drop with each application until you find out Credit One will accept you.

I had a Credit One bank card for 9 years. My annual fee was 75 and the second year it went up to 99 billed monthly. There was no grace period for any purchases on this card. I closed it when I realized how much they were ripping me a year with the fees. You claim that you can get the annual fee reduced if you call to cancel the account. Who wants to keep doing that? They offered me three months waived, I declined since I have cards with no annual feee and a grace period. I got this in 2006 before I knew anything about credit and only kept it because I was afraid of closing it (an employee told me my credit score would drop) Companies like this want to keep people with bad credit ignorant so they will think that the fees are something they have to pay in order to rebuild their credit. Thank goodness for this forum so people can know the truth. I learned about true rebuilding not just getting any card since my score is low. I learned its a marathon not a race and I need to have goals and research cards before I apply. Almost all of you comments are promoting this company. Do you work for them? I love my Capital One quicksilver card but you don't see me jumping in every thread about them singing their praises.

Re: Credit One Trick for better terms ;)

NattyPButter — Sun, 15 May 2016 04:31:51 GMT

@Anonymous wrote:
@NattyPButter wrote:
@creditguy wrote:
A $45 annual fee, 1% back on gas and a free fako credit score? Oh I see how any would totally jump on that. Sarcasm aside a credit one by any other terms is still a credit one, sorry but a $45 AF is still ridiculous. But hey if your happy then congrats!!!

probably can get that annual fee waived or cut short each time you try to shut off card. So I see no big deal if someone can get in at that low annual fee since a lot of secured cards are sitting at the same annuel fee or a little less and make you put down a deposit. Regardless most ppl shut down their secured card in a year or two and you can do the same with the Credit One card and put that extra money into savings. Also most of the secured cards don't offer any rewards; though the Credit One card is 1% it's still something along with their crappy credit score. Don't forget the you can also not qualify for a lot of the secured cards out thier especially if you filed BK recently. So you can be sitting their watching your score drop with each application until you find out Credit One will accept you.

I had a Credit One bank card for 9 years. My annual fee was 75 and the second year it went up to 99 billed monthly. There was no grace period for any purchases on this card. I closed it when I realized how much they were ripping me a year with the fees. You claim that you can get the annual fee reduced if you call to cancel the account. Who wants to keep doing that? They offered me three months waived, I declined since I have cards with no annual feee and a grace period. I got this in 2006 before I knew anything about credit and only kept it because I was afraid of closing it (an employee told me my credit score would drop) Companies like this want to keep people with bad credit ignorant so they will think that the fees are something they have to pay in order to rebuild their credit. Thank goodness for this forum so people can know the truth. I learned about true rebuilding not just getting any card since my score is low. I learned its a marathon not a race and I need to have goals and research cards before I apply. Almost all of you comments are promoting this company. Do you work for them? I love my Capital One quicksilver card but you don't see me jumping in every thread about them singing their praises.

doesn't look like I'm promoting them...nor do I work for them...it looks like someone that is not spreading half truths like others have been doing. Looks like someone that actually has the card and been using it and speaking from experience with them. I have nothing bad to say about them because I never paid a fee besides $50 when I first got the card. I actually have nothing bad to say about any of my creditors since they all have been treating me well. Do you complain about the same ppl jumping in every credit one thread telling half truths, outright lies or just old info? They now have cards with grace periods and much lower annual fee and researching will show you that.

Re: Credit One Trick for better terms ;)

BarryNTexas — Sun, 15 May 2016 11:34:16 GMT

@NattyPButter wrote:
@Anonymous wrote:
@NattyPButter wrote:
@creditguy wrote:
A $45 annual fee, 1% back on gas and a free fako credit score? Oh I see how any would totally jump on that. Sarcasm aside a credit one by any other terms is still a credit one, sorry but a $45 AF is still ridiculous. But hey if your happy then congrats!!!

probably can get that annual fee waived or cut short each time you try to shut off card. So I see no big deal if someone can get in at that low annual fee since a lot of secured cards are sitting at the same annuel fee or a little less and make you put down a deposit. Regardless most ppl shut down their secured card in a year or two and you can do the same with the Credit One card and put that extra money into savings. Also most of the secured cards don't offer any rewards; though the Credit One card is 1% it's still something along with their crappy credit score. Don't forget the you can also not qualify for a lot of the secured cards out thier especially if you filed BK recently. So you can be sitting their watching your score drop with each application until you find out Credit One will accept you.

I had a Credit One bank card for 9 years. My annual fee was 75 and the second year it went up to 99 billed monthly. There was no grace period for any purchases on this card. I closed it when I realized how much they were ripping me a year with the fees. You claim that you can get the annual fee reduced if you call to cancel the account. Who wants to keep doing that? They offered me three months waived, I declined since I have cards with no annual feee and a grace period. I got this in 2006 before I knew anything about credit and only kept it because I was afraid of closing it (an employee told me my credit score would drop) Companies like this want to keep people with bad credit ignorant so they will think that the fees are something they have to pay in order to rebuild their credit. Thank goodness for this forum so people can know the truth. I learned about true rebuilding not just getting any card since my score is low. I learned its a marathon not a race and I need to have goals and research cards before I apply. Almost all of you comments are promoting this company. Do you work for them? I love my Capital One quicksilver card but you don't see me jumping in every thread about them singing their praises.
doesn't look like I'm promoting them...nor do I work for them...it looks like someone that is not spreading half truths like others have been doing. Looks like someone that actually has the card and been using it and speaking from experience with them. I have nothing bad to say about them because I never paid a fee besides $50 when I first got the card. I actually have nothing bad to say about any of my creditors since they all have been treating me well. Do you complain about the same ppl jumping in every credit one thread telling half truths, outright lies or just old info? They now have cards with grace periods and much lower annual fee and researching will show you that.

CreditOne can be a bridge card until one get's their house in order for sure. I've been there and done that. For me, the very best strategy for getting the best terms from them was addressing my poor credit files/scores and graduating to the big boys and closing out CreditOne. Good Luck OP!

Re: Credit One Trick for better terms ;)

UncleB — Sun, 15 May 2016 11:54:04 GMT

@BarryNTexas wrote:

CreditOne can be a bridge card until one get's their house in order for sure. I've been there and done that. For me, the very best strategy for getting the best terms from them was addressing my poor credit files/scores and graduating to the big boys and closing out CreditOne. Good Luck OP!

Credit One gets a lot of 'gentle' (and sometimes not so gentle) ribbing around here, but they definitely serve a purpose.

I never had a Credit One card simply because I wasn't aware of them, but I did have a card with similar terms... an HSBC/Orchard Bank "Platinum" MasterCard with a $300 credit line, and a $79 annual fee (!). Ironically, that card eventually became a Capital One QS1, which I've since PC'd to a no-AF Quicksilver, so even now it has it's place in my wallet.

As terrible as those initial terms were (compared to what I have now) at the time it was actually not that bad, and "biting the bullet" back then was what paved the way for me to be where I am now. Of all the mistakes I've made, getting that low-credit line high-AF card back in 2007 was one of the smartest moves I made credit-wise.

Re: Credit One Trick for better terms ;)

grillandwinemaster — Sun, 15 May 2016 15:15:46 GMT

Credit 1 WILL serve its purpose, which is to help you rebuild. Nothing more. Use it minimally for 6 months, and then move on.

Re: Credit One Trick for better terms ;)

Anonymous — Sun, 15 May 2016 22:54:31 GMT

Credit One definately helped me in my rebuilding process, I started with a $500 limit when no one else would give me credit at all...not even Cap One. I had a $45 year fee and built up to an $800 credit limit which started opening doors for me. I canceled it when I started getting better offers but it was definatley a great rebuiding tool. I do appreciate the fact that they gave me credit when no one else would.

Re: Credit One Trick for better terms ;)

Anonymous — Mon, 16 May 2016 13:44:42 GMT

Thats all credit one is good for.... a bridge.
1% is ok for someone rebuilding but with a $500 cl you would have to max your cc out for 9 months to just get your $45 back.

I closed my credit one acct 2 months ago along with my first premier card. Have never been happier. They keep hounding me to come back, that will never happen.

The absolute only good thing about those ccc is they help you rebuild. Petriod. Period. Period.