topic Re: Credit One Preapproval in Credit Card Applications

Credit One Preapproval

TiggerDat — Thu, 08 Jun 2017 14:50:08 GMT

Got a Preapproval from Credit One with an AF of $49, APR of 20.49% and called about it. I asked what the benefits were and how they would be better than any of the 25 cards I currently have. They said it would help build my credit history, there were offers to earn additional cash back, and they routinely did increases. I asked about the limit of being up to $1500 and how that would benefit me against my $25,000 limit on my FNBO American Express card. They told me I couldn't compare one bank to another as each bank had its own policies. I replied that I had to compare to find the hidden gem of the card. I was driving at the time so after an hour I got bored and they couldn't do anything but keep repeating the same stuff that I had already heard and countered and still no genuine gem to be found. So I thanked them for letting me waste their time.

Re: Credit One Preapproval

CYBERSAM — Thu, 08 Jun 2017 16:29:05 GMT

@TiggerDat wrote:
Got a Preapproval from Credit One with an AF of $49, APR of 20.49% and called about it. I asked what the benefits were and how they would be better than any of the 25 cards I currently have. They said it would help build my credit history, there were offers to earn additional cash back, and they routinely did increases. I asked about the limit of being up to $1500 and how that would benefit me against my $25,000 limit on my FNBO American Express card. They told me I couldn't compare one bank to another as each bank had its own policies. I replied that I had to compare to find the hidden gem of the card. I was driving at the time so after an hour I got bored and they couldn't do anything but keep repeating the same stuff that I had already heard and countered and still no genuine gem to be found. So I thanked them for letting me waste their time.

LOL

Re: Credit One Preapproval

Anonymous — Thu, 08 Jun 2017 16:47:53 GMT

Well now you'll never get in with them and you'll be the sad one when they release their CreditOne AmEx branded Tesla rewards card which offers FREE DIESEL FUEL rewards for your Tesla car.

Re: Credit One Preapproval

Anonymous — Thu, 08 Jun 2017 20:38:10 GMT

OP must have a lot of free time. Why not just trash it? You did waste that person's time. That person is working. I don't understand why you did that it why you posted it on a board.

Re: Credit One Preapproval

CYBERSAM — Thu, 08 Jun 2017 21:20:11 GMT

@Anonymous wrote:
OP must have a lot of free time. Why not just trash it? You did waste that person's time. That person is working. I don't understand why you did that it why you posted it on a board.

Try to read OP's post again! His intention seems very clear to me...

Re: Credit One Preapproval

Loquat — Thu, 08 Jun 2017 21:46:42 GMT

@Anonymous wrote:
OP must have a lot of free time. Why not just trash it? You did waste that person's time. That person is working. I don't understand why you did that it why you posted it on a board.

Re: Credit One Preapproval

Anonymous — Thu, 08 Jun 2017 22:31:20 GMT

I keep getting very similar term pre-approvals myself ($49 annual fee, 20.49% APR, up to $1500 limit). The hidden gem here is that there's no pesky grace period to deal with! And 1% cash back for gas and groceries!

It's the best card ever!!

/sarcasm

Re: Credit One Preapproval

Anonymous — Fri, 09 Jun 2017 00:11:41 GMT

Lmfao this is hilarious. I wish i would've told them that. I am going to close the card right before the annual fee hits

Re: Credit One Preapproval

Meanmchine — Sun, 11 Jun 2017 01:33:26 GMT

+1 Em71

Re: Credit One Preapproval

Anonymous — Sun, 11 Jun 2017 02:04:53 GMT

I have never had a card from Credit One and have no knowledge of their practices one way or the other. I do have a problem with some of the attitudes toward the company. I see all sorts of negative posts against them. I am sure some of those people have had negative experiences with the company (and many are just repeating what they've read here). I also know that some board members have had cards there because it was their only option. Apparently it makes some people feel superior in some way to trash the company for no reason. If they sent you a preapproval and you are not interested (I have received them and not been interested), then do the adult thing and trash it. It is extremely juvenile to call and tell the person who answers the phone how beneath you the company is. I can almost guarantee that person didn't send you the offer, set your offered limit, or set the card's fees. That person is doing a job or at least trying. The only thing more juvenile is posting about your rudeness on a message board for strangers to see how big and bad you are (oh, and writing about how hilarious it is that someone was harassed doing their job).

Re: Credit One Preapproval

CYBERSAM — Sun, 11 Jun 2017 23:50:04 GMT

@Anonymous wrote:
I have never had a card from Credit One and have no knowledge of their practices one way or the other. I do have a problem with some of the attitudes toward the company. I see all sorts of negative posts against them. I am sure some of those people have had negative experiences with the company (and many are just repeating what they've read here). I also know that some board members have had cards there because it was their only option. Apparently it makes some people feel superior in some way to trash the company for no reason. If they sent you a preapproval and you are not interested (I have received them and not been interested), then do the adult thing and trash it. It is extremely juvenile to call and tell the person who answers the phone how beneath you the company is. I can almost guarantee that person didn't send you the offer, set your offered limit, or set the card's fees. That person is doing a job or at least trying. The only thing more juvenile is posting about your rudeness on a message board for strangers to see how big and bad you are (oh, and writing about how hilarious it is that someone was harassed doing their job).

Consider yourself a very fortunate person! In credit world, Modertor Edit - Enough with the hyperbole - Irish80. They prey on uninformed people with poor credit. They hope that you continue to struggle and never be able to succeed. If you ever fell victim to their trap, half of the credit that you receive would be fees.

If your credit is actually good, they want noting to do with you. Companies with this kind of mission statement deserve no sympathy. As long as they continue to prey on people, they deserve EVERY ridicule they can get.

Re: Credit One Preapproval

pipeguy — Sun, 11 Jun 2017 20:13:04 GMT

@Anonymous wrote:
I have never had a card from Credit One and have no knowledge of their practices one way or the other. I do have a problem with some of the attitudes toward the company. I see all sorts of negative posts against them. I am sure some of those people have had negative experiences with the company (and many are just repeating what they've read here). I also know that some board members have had cards there because it was their only option. Apparently it makes some people feel superior in some way to trash the company for no reason. If they sent you a preapproval and you are not interested (I have received them and not been interested), then do the adult thing and trash it. It is extremely juvenile to call and tell the person who answers the phone how beneath you the company is. I can almost guarantee that person didn't send you the offer, set your offered limit, or set the card's fees. That person is doing a job or at least trying. The only thing more juvenile is posting about your rudeness on a message board for strangers to see how big and bad you are (oh, and writing about how hilarious it is that someone was harassed doing their job).

Consider that Credit One is owned by Sherman LLC also known as LVNV Junk Debt Buyers - do a bit of research on Sherman and LVNV and you'll understand that the "warning being given" are based on the desire you keep the unknowing from making a deal with the devil - Sherman is a pure vulture company that prey on those they "serve". It's got nothing to do with "feeling superior" and a lot to with warning folks not to sell their soul to the devil when a secured card from Cap-1, NFCU, Discover, BOA, etc. will help rebuild or establish credit just as easy without the rules stacked agaiinst you. Anyone that "supports" Credit One either works for them or has never done business with them and their wonderful terms.

Re: Credit One Preapproval

mrmichaelscott — Sun, 11 Jun 2017 21:14:16 GMT

CreditOne takes people who have never paid anyone a penny their entire lives and offer them unsecured credit cards. If you were the owner of CreditOne I guarantee you will do the same if not worse. You have no idea how much risks the company is taking offering these people credit. Yet if they do paid the cards on time, it helps them build their credit. I have never heard CreditOne reports incorrectly or stealing money from their customers. They know exactly what they are getting into. If they don't want it, don't sign up for them, no one is forcing them to. These people have no other routes. You mentioned secured cards. You have to put your own money into these cards, that's the differences. CreditOne does not require your to put up money upfront. Once you get the card, you are welcome to max it out and not pay a single payment. Which I assume that alot of these people are doing... So who is taking advantage of who? You have no idea what you're saying. You don't know the default rates, you don't know a single thing about CreditOne but here pretending to be an expert calling out who is vulture who is saint. You think CreditOne is making more profit than Chase or Bank of America? I bet if you are given the opportunities to see all of these companies balance sheets, creditone is not generating as much revenue as you think because of the default rates by taking on these customers. They are a million times better than a payday loan or title loan, just think about it expert. I definitely do not work for CreditOne. I don't really like the company either... But what you're saying is just wrong!

Re: Credit One Preapproval

Anonymous — Mon, 12 Jun 2017 05:26:15 GMT

@CYBERSAM wrote:
@Anonymous wrote:
I have never had a card from Credit One and have no knowledge of their practices one way or the other. I do have a problem with some of the attitudes toward the company. I see all sorts of negative posts against them. I am sure some of those people have had negative experiences with the company (and many are just repeating what they've read here). I also know that some board members have had cards there because it was their only option. Apparently it makes some people feel superior in some way to trash the company for no reason. If they sent you a preapproval and you are not interested (I have received them and not been interested), then do the adult thing and trash it. It is extremely juvenile to call and tell the person who answers the phone how beneath you the company is. I can almost guarantee that person didn't send you the offer, set your offered limit, or set the card's fees. That person is doing a job or at least trying. The only thing more juvenile is posting about your rudeness on a message board for strangers to see how big and bad you are (oh, and writing about how hilarious it is that someone was harassed doing their job).
Consider yourself a very fortunate person! In credit world, <mod edit>. They prey on uninformed people with poor credit. They hope that you continue to struggle and never be able to succeed. If you ever fell victim to their trap, half of the credit that you receive would be fees.
If your credit is actually good, they want noting to do with you. Companies with this kind of mission statement deserve no sympathy. As long as they continue to prey on people, they deserve EVERY ridicule they can get.

I understand not wanting to do business with a company. I was just saying the OP's actions were childish and unfair to the EMPLOYEE that answered the phone. I guess you are saying that person deserved it for working there?? It's my opinion that the mature thing to do is to throw away unwanted offers instead of calling and telling an EMPLOYEE how you are above the company's services. Bragging about the action on a board is even more childish.

Re: Credit One Preapproval

pipeguy — Sun, 11 Jun 2017 21:39:06 GMT

mrmichaelscott:

With all due respect, we'll agree to disagree. If you would like to do business with Credit One, I wish you luck, but I think you are being very naive to think that Sherman -LVNV - CreditOne has anyone but their greed and best interest in mind. They are purely a vulture lender that prey on the vulnerable or desperate, and yes they expect a higher default rate and price everything they do/charge knowing that.

https://www.consumeraffairs.com/credit_cards/credit_one.html

Re: Credit One Preapproval

toomchz4u — Mon, 12 Jun 2017 05:27:28 GMT

Extremely childish to call and waste somebodies time on their job when you know you aren't interested. I'll throw out a plus 1 on just throwing an offer in the trash as I've worked for the United States Postal Service for 20 years and I've seen so much nonsense that people try to send back to credit companies trying to be funny... Shredded paper, rocks, leaves, sticks, and once even HUMAN FECES smh... All because a company solicited you for credit??? Just be a grown up and if you're not interested throw it in the trash. And don't complain about junk mail because what you consider junk mail puts food on the table for A LOT of families out here. If you get a credit one offer and you have good credit just take a moment to think about how blessed you are to have that good credit and not need them. Me personally??? I've been on the rebuild for a year and a half after divorce and have increased my fico about 150 points to almost 700 again... Have had credit one in my profile for about a year and nothing negative to say about that experience. I don't fell preyed on and there are no fees or unwanted add ons that I don't know about. Good luck to everyone on this board in their credit journey and if you're in a good place BE THANKFUL!!!

Re: Credit One Preapproval

Anonymous — Mon, 12 Jun 2017 01:25:08 GMT

I've edited one post and deleted another. Supposedly everyone here is an adult so let's stop posting like we're 5 years old. There is no need for ridiculous exaggerations or attacking one another. It's entirely possible (shocking I know) to disagree with someone without being rude. If you need help in doing so, read @pipeguy's posts. Posts must adhere to these guidelines Friendly, Supportive and Respectful or they will be edited or deleted and the posters may lose their posting privileges.

I'll reopen the thread for now.

Re: Credit One Preapproval

Anonymous — Mon, 12 Jun 2017 00:48:37 GMT

Note to self: Don't criticize bad credit cards on MyFico forums...

Re: Credit One Preapproval

Anonymous — Mon, 12 Jun 2017 01:21:10 GMT

It has nothing to do with critiquing a bad rebuilder card. We have (almost all us) steered peeps away from Credit1 or suggested they close it when they had better cards. This post has nothing to do with that. Op literally keep one of their employees on the line for an hour, with no intention of anything good. It would be different if op was a customer and was trying to work out an issue. But they weren't and had no intention of becoming one. Not to mention, this means someone else was on hold, who actually needed help.

I'm sorry, but that employee did not deserve that. Maybe I'm getting old, but I just don't think that's funny.

We we all get unsavory cc offers, but most of us just throw them away.

Re: Credit One Preapproval

Loquat — Mon, 12 Jun 2017 01:45:49 GMT

@Justagirl73 wrote:
It has nothing to do with critiquing a bad rebuilder card. We have (almost all us) steered peeps away from Credit1 or suggested they close it when they had better cards. This post has nothing to do with that. Op literally keep one of their employees on the line for an hour, with no intention of anything good. It would be different if op was a customer and was trying to work out an issue. But they weren't and had no intention of becoming one. Not to mention, this means someone else was on hold, who actually needed help.

I'm sorry, but that employee did not deserve that. Maybe I'm getting old, but I just don't think that's funny.

We we all get unsavory cc offers, but most of us just throw them away.