topic Credit One Close Story in Credit Cards

Credit One Close Story

Brickbybrick — Wed, 28 Jun 2017 14:04:40 GMT

So I just got off the call with Credit One to close it. She informed me that she was looking out for me and that I should keep my account open for a year and would credit me back money as well. Is she right, did I make a mistake closing the account prior to a year?

Re: Credit One Close Story

AverageJoesCredit — Wed, 28 Jun 2017 17:52:48 GMT

No, remember its their job to keep their hooks in you if at all possible. They will tell you how itll affect your credit if you leave if you do this this or that. Dont pay it any mind. If youve moved on to better cards that arent as predatory or you are getting into prime territory , relax and enjoy, always good to get that monkey off your back lol

Re: Credit One Close Story

Anonymous — Wed, 28 Jun 2017 18:19:48 GMT

@Brickbybrick wrote:
So I just got off the call with Credit One to close it. She informed me that she was looking out for me and that I should keep my account open for a year and would credit me back money as well. Is she right, did I make a mistake closing the account prior to a year?

Can you provide more info? What will be credited back?

Unless you are getting back the whole AF and $50 extra, it's worthless to keep this...

Re: Credit One Close Story

Brickbybrick — Wed, 28 Jun 2017 19:00:00 GMT

Shes just returning some express payment fee totalling to $48, but she said since its under a year it will look bad to others looking at my report and hurt my chances on getting a loan.

Re: Credit One Close Story

Anonymous — Wed, 28 Jun 2017 19:03:32 GMT

That's bs. Closing a card will not impact your score or chances of getting a credit. If you don't mind answering, what's your current score and total limit ?

Re: Credit One Close Story

Brickbybrick — Wed, 28 Jun 2017 23:33:16 GMT

I'm a 650-677 totalling to:
Chase $2500
Merrick $1100
Capital One QS $600
AMEX ED $500
JCrew $250
$4950

Re: Credit One Close Story

Brickbybrick — Wed, 28 Jun 2017 23:34:13 GMT

I'm a rebuilder

Re: Credit One Close Story

DaveInAZ — Thu, 29 Jun 2017 00:04:18 GMT

@Brickbybrick wrote:
I'm a rebuilder

Yes, but with those cards - especially Chase & Amex - and scores you don't need Credit One. Amex, Chase & Capital One will grow for you. All Credit One will do is fee you to death. Don't listen to what their reps tell you, their #1 job is to keep you as a customer and keep those fees rolling in.Credit One is the Payday Loan lender in the credit card biz.

Re: Credit One Close Story

AverageJoesCredit — Thu, 29 Jun 2017 00:00:04 GMT

You're so past Credit Two, your Cap One is gonna school em hard on how to name your card proper

Re: Credit One Close Story

Anonymous — Thu, 29 Jun 2017 01:14:46 GMT

I had a similar situation in March when I called to cancel. She offered to give me back all the interest I paid since i opened the card it was like 40 bucks. Wasn't interested the card is garbage. She must have asked 5 different ways that I should keep the card open. Finally she was really pissing me off I asked her if she was born deaf because she hasen't listented to a word i said she then finally closed the account. They will do whatever they can to convince you to keep the card open.

Re: Credit One Close Story

Anonymous — Thu, 29 Jun 2017 03:02:02 GMT

Close the account you already got good cards. They are for rebuilders and even though you still are rebuilding, you are past the point to have to pay for a card. I used to have them no problems when I first started building my credit but as soon as I got another good no annual fee card I closed that sucker.

Re: Credit One Close Story

Anonymous — Thu, 29 Jun 2017 03:47:16 GMT

See that others have already answered...I'm only reiterating what's been said here and in ALL the Credit One posts..

JUST CLOSE THE CARD !!

Re: Credit One Close Story

Total80sKid — Thu, 29 Jun 2017 06:58:28 GMT

Sadly, CreditOne treats me better than Cap1 and Chase.

I'm no fan of Credit1, but at least they are giving me regular CLI's.

My Chase Freedom had been stuck at the $500 SL.

My 3yo secured Cap1 won't unsecure and my 3yo QS1 won't allow me to go past an $850 limit or get a no-af upgrade.

I sound like a broken record, but people should also know that places like Cap1 and Chase do not always grow.

YMMV.

Re: Credit One Close Story

rmduhon — Thu, 29 Jun 2017 17:25:27 GMT

Credit One tried to tell me that if I closed the card before it was 1 years old it wouldn't get reported to the CRA's and that all CCC's were the same way because it was the law. Ummm, no it isn't. The CSR didn't know what to say when I told him the card had been reporting every month since opening it. I wasn't worried about to the account getting removed from the reports because it was only 1 month older than the next card.

Re: Credit One Close Story

pipeguy — Thu, 29 Jun 2017 18:09:49 GMT

With Cap-1 and AmEx you have no need (if that's even possible) to have Credit One - Congrats on the closure !

Re: Credit One Close Story

Anonymous — Fri, 30 Jun 2017 03:16:29 GMT

Hey, Bbyb, I was dead set on keeping my Credit One card for the whole 12 months, but closed it after 8 and haven't looked back. They are still sending me emails letting me know that I am missing out and need to come back. But have they changed my terms and fees? NO, they haven't!

Just close it, you will not regret it!

Re: Credit One Close Story

Anonymous — Fri, 25 Aug 2017 21:04:52 GMT

@Anonymous wrote:
Hey, Bbyb, I was dead set on keeping my Credit One card for the whole 12 months, but closed it after 8 and haven't looked back. They are still sending me emails letting me know that I am missing out and need to come back. But have they changed my terms and fees? NO, they haven't!

Just close it, you will not regret it!

Just wanted to post on an existing thread that I just CLOSED my account with Credit One I am at 8 months as well. Thank goodness they're gone! I have only one card left with an annual fee (Merrick), but I'm going to go ahead and keep it for a little while.

Re: Credit One Close Story

joltdude — Sat, 26 Aug 2017 13:11:08 GMT

@Brickbybrick wrote:
So I just got off the call with Credit One to close it. She informed me that she was looking out for me and that I should keep my account open for a year and would credit me back money as well. Is she right, did I make a mistake closing the account prior to a year?

Brick..

Don't take the bait!... Credit None has realized youve moved onto greener pastures and you have no need or use for them so they are trying to cling onto you to get you to stay... Youve rebuilt beyond them.... Let them go..... Your better off without them.....Next would be Merrick... I don't remember if the fee is monthly or yearly.... Either way... id consider giving them their walking papers shortly and def before any fee is due ....

Congratulations for kicking a predatory subprime lender to the curb...

-J

Re: Credit One Close Story

MakingProgress — Sat, 26 Aug 2017 16:00:34 GMT

I am just wondering how they would react if you took them up on their offer of the credits and then after the credits cycled you called back and canceled?

Re: Credit One Close Story

TaterDawg — Sun, 27 Aug 2017 16:13:29 GMT

I don't think they'd care. After all, it's just a credit they're offering. OP would still have to keep spending to get the credit back, and in the meantime CreditOne will just start charging interest as soon as the new charges are made. All they need is for suckers to keep the card open and to use it.