topic Re: Keep it or Dump it? (Credit One) in Credit Cards

Keep it or Dump it? (Credit One)

Anonymous — Sun, 27 Aug 2017 22:19:50 GMT

OK. so I finally got my credit score coming up niceley. But I went a little crazy on applying for credit cards. I have a secured Cap1, Secured Wells Fargo, unsecured Quicksilver, unsecured Credit 1 and a Walmart store card.

Thinking I should close the Credit 1 card, mostly because of the things I have read on here about them. I know I will still have to pay the annual fee, but would I be better off keeping it for awhile, or just get rid of it now? It wont affect my AAoA much if any, but could affect my utilization since I would have less available, but since its a small SL It wont have a huge impact either way.

Re: Keep it or Dump it? (Credit One)

AverageJoesCredit — Sun, 27 Aug 2017 22:23:26 GMT

Humpty dump it

Re: Keep it or Dump it? (Credit One)

K-in-Boston — Mon, 28 Aug 2017 18:21:27 GMT

Certainly dump it. No reason to pay an annual fee for a card that is no longer serving its primary (or much of any) purpose for you.

Re: Keep it or Dump it? (Credit One)

Anonymous — Mon, 28 Aug 2017 18:28:42 GMT

It's time to say buh-bye!

Re: Keep it or Dump it? (Credit One)

Anonymous — Mon, 28 Aug 2017 19:29:39 GMT

Get it shredded and in the trash can as soon as you can. And make sure you keep your eye on it after you close it. They can be a big snake in the grass.

Re: Keep it or Dump it? (Credit One)

joltdude — Mon, 28 Aug 2017 19:33:15 GMT

Think of Credit One as a parasitic relationship... Do not pass go, do not collect 200$ (in fees), Send it right to the shredder (but keep the account number somewhere. you want to make SURE It closes)... and just say no to any attempts to stick around... Kick that card to the curb and dont look back....

Buh Bye predatory lender....

It did its job, its like tissues, you use it, then you THROW IT AWAY... (use it to build credit, then get rid of it when youve outgrown it.. wanted to clear that analogy up)

-J

Re: Keep it or Dump it? (Credit One)

PrinceCorwin — Mon, 28 Aug 2017 19:40:03 GMT

Goodbye Shredit One!

Re: Keep it or Dump it? (Credit One)

wasCB14 — Mon, 28 Aug 2017 19:51:54 GMT

Some threads can be answered merely from the title.

There is no reason to ever get a Credit One card when there are better alternatives. There is no reason to ever have or keep one.

Credit One would not exist in a world of informed consumers.

Re: Keep it or Dump it? (Credit One)

Anonymous — Mon, 28 Aug 2017 19:54:33 GMT

Do you really need to ask this??

Re: Keep it or Dump it? (Credit One)

Anonymous — Mon, 28 Aug 2017 23:30:03 GMT

@Anonymous wrote:
Do you really need to ask this??

Apparently not...LOL

I Think I had it already figured out, but wanted to be sure since this whole credit card thing is kind of new to me.

Re: Keep it or Dump it? (Credit One)

Anonymous — Mon, 28 Aug 2017 23:56:32 GMT

Dump it like you've been holding it in

Re: Keep it or Dump it? (Credit One)

AverageJoesCredit — Tue, 29 Aug 2017 00:12:31 GMT

Lol,, lockheart2188

Re: Keep it or Dump it? (Credit One)

toomchz4u — Tue, 29 Aug 2017 06:55:23 GMT

Form your own opinion based upon your experiences with this card. So sick and tired of this credit one nonsense. It works just like the rest of my cards in my wallet and I haven't cancelled it simply because I havent. It has fees that you are informed about up front. However I've never been shammed, duped, or whatever by them and it has helped me to rebuild my credit. The few times I've used it I've made payments and they posted. Wash, rinse, repeat. Don't really understand the whole credit one thing on this board and I don't care about them being owned by some junk debt buyer. We are all responsible for paying bills we make so if we all did that then there wouldn't be any junk debt to buy. People post that they have problems with Chase, Citi, Amex, Capital one, etc... And get mad and close them as well. So do you and form your own opinions based on IF IT WORKS OR HAS BEEN WORKING FOR YOU!!!

Re: Keep it or Dump it? (Credit One)

Anonymous — Tue, 29 Aug 2017 07:27:11 GMT

@toomchz4u wrote:
Form your own opinion based upon your experiences with this card. So sick and tired of this credit one nonsense. It works just like the rest of my cards in my wallet and I haven't cancelled it simply because I havent. It has fees that you are informed about up front. However I've never been shammed, duped, or whatever by them and it has helped me to rebuild my credit. The few times I've used it I've made payments and they posted. Wash, rinse, repeat. Don't really understand the whole credit one thing on this board and I don't care about them being owned by some junk debt buyer. We are all responsible for paying bills we make so if we all did that then there wouldn't be any junk debt to buy. People post that they have problems with Chase, Citi, Amex, Capital one, etc... And get mad and close them as well. So do you and form your own opinions based on IF IT WORKS OR HAS BEEN WORKING FOR YOU!!!

enjoy your card

Re: Keep it or Dump it? (Credit One)

Anonymous — Tue, 29 Aug 2017 18:04:33 GMT

@toomchz4u wrote:
Form your own opinion based upon your experiences with this card. So sick and tired of this credit one nonsense. It works just like the rest of my cards in my wallet and I haven't cancelled it simply because I havent. It has fees that you are informed about up front. However I've never been shammed, duped, or whatever by them and it has helped me to rebuild my credit. The few times I've used it I've made payments and they posted. Wash, rinse, repeat. Don't really understand the whole credit one thing on this board and I don't care about them being owned by some junk debt buyer. We are all responsible for paying bills we make so if we all did that then there wouldn't be any junk debt to buy. People post that they have problems with Chase, Citi, Amex, Capital one, etc... And get mad and close them as well. So do you and form your own opinions based on IF IT WORKS OR HAS BEEN WORKING FOR YOU!!!

Your post is well written and makes sense.

But if your so "sick and tired" of this Credit One nonsense, why do you read and respond to it?

Re: Keep it or Dump it? (Credit One)

toomchz4u — Wed, 30 Aug 2017 03:52:14 GMT

@donny10 just providing a different prospective. I mean no harm to anyone and wish each and everyone on this board good luck in their quest to 850. Sometimes as people we don't realize that alot of times we are like blind sheeple. No harm to anyone by not going along with the status quo.

Re: Keep it or Dump it? (Credit One)

K-in-Boston — Wed, 30 Aug 2017 13:31:57 GMT

@toomchz4u wrote:
@Anonymous just providing a different prospective. I mean no harm to anyone and wish each and everyone on this board good luck in their quest to 850. Sometimes as people we don't realize that alot of times we are like blind sheeple. No harm to anyone by not going along with the status quo.

And it's a valid perspective. There are certainly worse lenders than Credit One that we've seen here; they do fill a niche in the market and are the most recognizable name in subprime lending. I think with our bashing of them (I admit I do it too) the real reasoning behind that is that there are better options for those trying to establish or rebuild credit. Nobody here should bash anyone for cards they've accepted, but hopefully with the wealth of knowledge on this forum and all of the helpful people no one here should feel the need to take a very high interest card with excessive fees to begin their journey.

Re: Keep it or Dump it? (Credit One)

joltdude — Mon, 18 Sep 2017 02:27:30 GMT

@toomchz4u wrote:
@Anonymous just providing a different prospective. I mean no harm to anyone and wish each and everyone on this board good luck in their quest to 850. Sometimes as people we don't realize that alot of times we are like blind sheeple. No harm to anyone by not going along with the status quo.

Again.. a valid point... that said....
If folks can avoid having to accept offers like that when there are better options avalible... Shouldn't they try to avail themselves of it?
Also
If folks have moved and grown out of a subprime lender and the fees and such associated with them, shouldnt they let go and grow?

Not sure about you but the idea of paying fees when I can get a product I dont have to... with better terms and conditions... just seems like a good value proposition....
Hence why the dislike and resentment for Credit One...

You don't owe anything to them for giving you a chance, moreso you dont deserve to be feed after youve repaired and grown your credit report....

-J

Re: Keep it or Dump it? (Credit One)

peghede — Mon, 18 Sep 2017 02:43:40 GMT

dump it .NOW!

Re: Keep it or Dump it? (Credit One)

Anonymous — Mon, 18 Sep 2017 13:02:35 GMT

Dump it! It ain't no lie baby bye bye bye! lol.