topic Re: Credit One Bank offering a better card... in Credit Cards

Credit One Bank offering a better card...

Yodah — Tue, 02 Dec 2014 19:57:35 GMT

So I started with Credit One VS a year ago.... card has the 99.00 annual fee and a 24.99% rate...CL is 700.00 and offer 1% on gas. I was going to close this account but then....

Today I get an offer to accept a Credit One MC with a 60.00 AF, and a 17.99% rate .... CL 500.00 and offer 1% on gas and restaurants.....

That 17.99% is better than some of my other cards, but they still don't offer a grace period like the other cards. So I guess they give with one hand take away with the other.

Re: Credit One Bank offering a better card...

CreditCuriosity — Tue, 02 Dec 2014 19:59:27 GMT

Don't do it, had a post about it the other day... They offered me a 2nd card as well... although a lower AF then what you mentioned. Don't get sucked into another one, you don't need it with the cards you currently have!

Re: Credit One Bank offering a better card...

ojefferyo — Tue, 02 Dec 2014 23:50:42 GMT

Run the other direction!!!!

Re: Credit One Bank offering a better card...

mongstradamus — Tue, 02 Dec 2014 23:52:55 GMT

@Yodah wrote:
So I started with Credit One VS a year ago.... card has the 99.00 annual fee and a 24.99% rate...CL is 700.00 and offer 1% on gas. I was going to close this account but then....

Today I get an offer to accept a Credit One MC with a 60.00 AF, and a 17.99% rate .... CL 500.00 and offer 1% on gas and restaurants.....

That 17.99% is better than some of my other cards, but they still don't offer a grace period like the other cards. So I guess they give with one hand take away with the other.

I don't understand why don' just t use qs instead , you get 1.5% cashback with no af ?

Re: Credit One Bank offering a better card...

CreditMagic7 — Tue, 02 Dec 2014 23:55:29 GMT

High End lenders are well aware of rebuilders cards so DON"T add another. In fact you'll soon want to jettison them in order to show a more favorable credit report for review.

Re: Credit One Bank offering a better card...

Dw4250 — Wed, 03 Dec 2014 00:12:34 GMT

@CreditMagic7 wrote:
High End lenders are well aware of rebuilders cards so DON"T add another. In fact you'll soon want to jettison them in order to show a more favorable credit report for review.

I sort of agree with this...but I would say the "prime" lenders (AMEX; Chase; etc) don't necessarily care whether or not someone has re-builder cards on their report. But...people with rebuilder cards don't have good credit! Hence, the Primes want nothing to do with them. Rebuilder cards are the symptom, not the cause of bad credit.

But CM7 and others are 100% correct...run away from Credit One! Those terms do not seem that great to me, plus I'm guessing Credit One continues their time honored tradition of no grace period, thus you start accuring interest the minute you swipe the card. Yuck!

Re: Credit One Bank offering a better card...

Creditaddict — Wed, 03 Dec 2014 00:38:09 GMT

ARE YOU CRAZY... you have quicksilver and freedom and you are excited about a better TERRIBLE REBUILDER CARD.... CANCEL the one you have and shred this one!

Credit One is great when you need them... SUB 600, not 700+ credit!!

Re: Credit One Bank offering a better card...

Yodah — Wed, 03 Dec 2014 02:01:37 GMT

LOL, No I am not crazy...LOL, nor am I excited.... Card will be closed, and definitely wont be accepting the new one! I just thought I would share that they are trying to appear like they are offering something better. I know, it has served it's purpose......time to move on, not double down!

Re: Credit One Bank offering a better card...

Creditaddict — Wed, 03 Dec 2014 02:30:42 GMT

Okay, good... Congrats for the progress!

Re: Credit One Bank offering a better card...

starry1 — Wed, 03 Dec 2014 02:38:04 GMT

They've been pestering me with emails lately trying to get me to open a card with them. I got one just today that says, here's a better offer. But it was the same hot mess they've emailed the last month or so.

Re: Credit One Bank offering a better card...

Anonymous — Wed, 03 Dec 2014 02:39:01 GMT

Thank god they blacklisted me.

Re: Credit One Bank offering a better card...

Anonymous — Wed, 03 Dec 2014 02:53:00 GMT

If everyone knew that secured, low/no fee, no-pull, CU reward credit cards existed...Credit One would probably be out of business within a few weeks.

Or do I underestimate what someone will willingly suffer through to avoid having a card account appear as 'secured' on a report?

Re: Credit One Bank offering a better card...

CreditMagic7 — Wed, 03 Dec 2014 02:53:22 GMT

Never had any offers from Credit One but plenty from First Premier which inspired me to feverishly Accelerate plans to app quality lenders and after landing numerous approvals their mails stopped cold and haven't found a one for months now. The classic case of run as fast as you can to better lenders and not look back.

Re: Credit One Bank offering a better card...

B335is — Wed, 03 Dec 2014 03:02:56 GMT

Having that stupid Credit One account on my CR is the biggest regret of my life, can't wait until the day it ages off. I so wish I would have known about BoA secured card. If I was a Credit Analyst manually reviewing a file, that would scream "Rebuilder!!!!" more than anything.

Re: Credit One Bank offering a better card...

CreditCuriosity — Wed, 03 Dec 2014 03:11:57 GMT

@B335is wrote:
Having that stupid Credit One account on my CR is the biggest regret of my life, can't wait until the day it ages off. I so wish I would have known about BoA secured card. If I was a Credit Analyst manually reviewing a file, that would scream "Rebuilder!!!!" more than anything.

Well I think a BK would look worse on a CR IMO and alot of people have very "Prime" cards with good limits with a BK on there record. The card has its purpose, as do secured cards... Getting a 2nd one is just not a smart move for obvious reasons.

Re: Credit One Bank offering a better card...

Rhino71 — Wed, 03 Dec 2014 03:18:20 GMT

I do have an hand the same credit card from Credit One that just today its paid in full, it will be close on Monday since thats the day they will put the funds in the account.

the next one to close is First Premier. Good Bye Credit One.

Re: Credit One Bank offering a better card...

Anonymous — Wed, 03 Dec 2014 07:47:23 GMT

It has not been long since I've been seriously rebuilding from the 480 scores.

Credit One does have its place in the world of rebuilding when nobody else will touch you.

That said, once you're in the high 500's-600's there really no reason to get a card from them.

Their no grace period pretty much negates any kind of cashback they might give.

I did my time with them but I stopped using them as soon as I possible could.

Re: Credit One Bank offering a better card...

Anonymous — Wed, 03 Dec 2014 07:49:18 GMT

@Anonymous wrote:
It has not been long since I've been seriously rebuilding from the 480 scores.

Credit One does have its place in the world of rebuilding when nobody else will touch you.

That said, once you're in the high 500's-600's there really no reason to get a card from them.

Their no grace period pretty much negates any kind of cashback they might give.

I did my time with them but I stopped using them as soon as I possible could.

I like your thinking.

CreditOne is like the Halfway house of Credit.

Re: Credit One Bank offering a better card...

Involver — Wed, 03 Dec 2014 08:07:54 GMT

What I want to know is why you still have a predatory $99 AF card open when you have Chase and American Express cards.

Re: Credit One Bank offering a better card...

SunriseEarth — Wed, 03 Dec 2014 11:35:24 GMT

@Yodah wrote:
So I started with Credit One VS a year ago.... card has the 99.00 annual fee and a 24.99% rate...CL is 700.00 and offer 1% on gas. I was going to close this account but then....

Today I get an offer to accept a Credit One MC with a 60.00 AF, and a 17.99% rate .... CL 500.00 and offer 1% on gas and restaurants.....

That 17.99% is better than some of my other cards, but they still don't offer a grace period like the other cards. So I guess they give with one hand take away with the other.

With your lineup, I'm suprised you still have the original card. But yes, I only recommend Credit One when no one else will give you credit.