topic Re: 28 Days Later: A CreditONE Tale in Credit Cards

28 Days Later: A CreditONE Tale

Anonymous — Mon, 19 Feb 2018 15:16:02 GMT

I'm a rebuilder and I fell into the CreditONE trap before I found the Shangrila of Credit Info that is the MyFico Forums. I did the prequal and was approved on Jan 24th, received the "your card is in the mail" email on the 26th, and then nothing. I know cards can take a while so I didn't spazz but then I started receiving "Activate your card immedietley" emails from CreditONE. I called they said give it 3 -5 more business days, ok no problem; more agressive "activate" emails, calls back give it 3 more days; 3 days pass "Oh no you should have received it by now, I will FedEx it" "Thank you is this overnight or ground?" "Ground we dont do overnight" "Ok Thanks"; card comes overnight *Facepalm* I am at work. CreditONE has VERY strict delivery guidelines; no holding at local FedEx, no holding at FedEx distribution center, only deliver between 9am - 10:30am, can not change delivery time, can not reroute. I went through 5 diffrent levels of CS until a Sr. Manager called FedEx and even she couldn't alter company policy. I had to take off work, or let the card delivery fail 3x at which point FedEx would send it back to CreditONE and then they would reissue the card again through USPS snail mail. Luckily today was a holiday and I was home to greet FedEx but to my surprise my statementy had already closed, I have a balance ($75 AF), and it is due next Friday. This is CRAZY now if I wasn't off today I would have to had wait for the return, reissue, and by the time I would have received the card, IF I received it, it would have been after the due date and I would have a 30 day late on my account. Baby Geezus 8lb 6oz knows I don't need that headache when I am trying to build. So this is just a warning to all rebuilders or those new to credit, steer clear of CreditONE and if you have no other option be aware your billing cycle starts the day you are approved with a $75 charge. Luckily this turned out to be a cautionary drama and not a credit card horror story.

Re: 28 Days Later: A CreditONE Tale

AverageJoesCredit — Mon, 19 Feb 2018 15:23:23 GMT

Only thing left are the undead

Re: 28 Days Later: A CreditONE Tale

Shadowfactor — Mon, 19 Feb 2018 19:27:56 GMT

Credit one can be a headache. I have a card luckily I haven’t had any issues with them. It’s getting canceled very soon.

This is why it’s important to read the terms and conditions of any card. Had you read that. You would have known that they charge a $75AF at the first statement date regardless if the card has been activated. It’s very clearly spelled out in the terms.

Re: 28 Days Later: A CreditONE Tale

DaveInAZ — Mon, 19 Feb 2018 20:33:16 GMT

@Shadowfactorwrote:
Credit one can be a headache. I have a card luckily I haven’t had any issues with them. It’s getting canceled very soon.

This is why it’s important to read the terms and conditions of any card. Had you read that. You would have known that they charge a $75AF at the first statement date regardless if the card has been activated. It’s very clearly spelled out in the terms.

I was going to ask the OP if he had activated his card yet and if no, tell him NOT to activate it & call instead and tell them he has changed his mind and doesn't want it, and refuses to activate it.

Perhaps they've changed their policy since then: I app'd & was approved for Credit One back in 2012. When the card arrived and I looked over those terms I just said "No, I won't do that to myself!" Yes, I knew the terms when I app'd (pre-approved mailer), but with the card staring me in face it was just more real & I changed my mind. I called and told them I had changed my mind and refuse to activate it. They were rude & nasty of course, but I was never hit with the AF, and account never reported to my CR. The only thing ever on my CR was the app HP, which fell off years ago.

Re: 28 Days Later: A CreditONE Tale

Shadowfactor — Mon, 19 Feb 2018 20:43:56 GMT

Credit one has a ton of different terms and conditions for the exact same Visa Card.
So it’s very likely that your card came with different terms or they updated the terms.

My card came with the terms I mentioned about the annual fee being charged regardless of card activation.

I also have terms in regard to the grace period. I have no grace period per se, but it’s written in the T&C that as long as I do not have a balance on the statement closing date I will not be charged interest as long as there was no previous balance the month before.

Re: 28 Days Later: A CreditONE Tale

Anonymous — Mon, 19 Feb 2018 21:32:31 GMT

It's BS like this that makes me so happy I am finally able to close my Credit One card after 2 years. It served it's purpose as a rebuilder and now that I've got prime cards I'm kicking it to the curb.

Good luck on your rebuilding journey!

Re: 28 Days Later: A CreditONE Tale

Gregory1776 — Mon, 19 Feb 2018 23:14:03 GMT

It’s posts like this that make me so freaking glad I was denied (😂😂😂😂😂) last year for Credit one.......

seriously tho, I thought it was capital one....😱😱🤪🤪🤪

my friend, I would cancel. It’s better to get a secured card.

Re: 28 Days Later: A CreditONE Tale

Anonymous — Mon, 19 Feb 2018 23:24:57 GMT

@Shadowfactorwrote:
Credit one can be a headache. I have a card luckily I haven’t had any issues with them. It’s getting canceled very soon.

This is why it’s important to read the terms and conditions of any card. Had you read that. You would have known that they charge a $75AF at the first statement date regardless if the card has been activated. It’s very clearly spelled out in the terms.

I am fully aware of the T&C and was not surprised by the $75 AF at all. I was shocked my 1st billing cycle was closed and I owed a min payment b4 I activated the card. The reason I was so caught unaware is because 1 of my many times calling in I asked when was my due date and was told "Don't worry it will be calculated after you activate the card, you don't have one yet". It will be my Netflix card until I can close it in 11 cycles

Re: 28 Days Later: A CreditONE Tale

Shadowfactor — Mon, 19 Feb 2018 23:38:28 GMT

I wouldn’t even put a subscription on that card. I use it every 3 months for a pack of gum and pay it off the minute it posts. I advise you to do something similar. They still report to the agencies the positive payment history even if you don’t use the card every month.

I had luck calling to cancel mine after 6 months of having it and using it maybe 10 times total. They offered me my entire AF back as a statement credit if I kept it open for atleast another 60 days. So I’m just waiting that out until I cancel which will be my 8th-9th month of having the card.
Keeping it open for 30 days past the 60 day mark so however they decide to count the days I’m safe and can’t owe them any kind of money back for the statement credit. I don’t trust them.

Also always push payments with them. It avoids that annoying 7 day lag for a payment. But I do it because I know if there was ever a payment glitch on their end. They would totally say it was my fault and screw me. I trust other banks with pulled payments but not them.

Re: 28 Days Later: A CreditONE Tale

arkane — Mon, 19 Feb 2018 23:41:57 GMT

CreditOne is the true Capone bank it seems.

Re: 28 Days Later: A CreditONE Tale

AverageJoesCredit — Mon, 19 Feb 2018 23:43:32 GMT

Wow Gregory, denied by Credit One The fates were kind to you . I know that people SHOULD read t&c , most dont, but that doesnt stop them from trying to take advantage of ones lack of awareness to put it nicely. Lots of people get caught off guard by the look of Credit One trying to imitate Capitol One, even more so when you get excited about a possible approval, happens to the best of us in rebuilding.

Re: 28 Days Later: A CreditONE Tale

Aahz — Mon, 19 Feb 2018 23:44:34 GMT

While I completely sympathize with OP and agree with all of the respondents above me I think one thing deserves clarification-

@Anonymouswrote:
This is CRAZY now if I wasn't off today I would have to had wait for the return, reissue, and by the time I would have received the card, IF I received it, it would have been after the due date and I would have a 30 day late on my account.

Even if this nightmare scenario had played out you would not have areceived a 30 day late on your reports. You would (likely) have received a late payment fee, but a "30 day late" requires missing not just one due date, but two. The day after your due date you're 1-day late, not 30. As long as your payment was received and processed within 29 days of the missed due date you will not receive a 30-day late notation.

This is a misunderstandig Ifrequently see here at MyFICO which seldom gets corrected.

Re: 28 Days Later: A CreditONE Tale

Anonymous — Tue, 20 Feb 2018 00:25:34 GMT

@Aahzwrote:
While I completely sympathize with OP and agree with all of the respondents above me I think one thing deserves clarification-

@Anonymouswrote:
This is CRAZY now if I wasn't off today I would have to had wait for the return, reissue, and by the time I would have received the card, IF I received it, it would have been after the due date and I would have a 30 day late on my account.
Even if this nightmare scenario had played out you would not have areceived a 30 day late on your reports. You would (likely) have received a late payment fee, but a "30 day late" requires missing not just one due date, but two. The day after your due date you're 1-day late, not 30. As long as your payment was received and processed within 29 days of the missed due date you will not receive a 30-day late notation.

This is a misunderstandig Ifrequently see here at MyFICO which seldom gets corrected.

Not always true. Some businesses throw a 30 day late as soon as you are late. Others wait till you are a certain amount of time late. It’s different for every company. So yes you can be one day late and get a 30 day late. Mortgages do this a lot. While the majority will give you at least 10 days after the due date or longer before it’s reported. That’s not universally true.

Re: 28 Days Later: A CreditONE Tale

CreditInspired — Tue, 20 Feb 2018 01:29:55 GMT

@DaveInAZwrote:
@Shadowfactorwrote:
Credit one can be a headache. I have a card luckily I haven’t had any issues with them. It’s getting canceled very soon.

This is why it’s important to read the terms and conditions of any card. Had you read that. You would have known that they charge a $75AF at the first statement date regardless if the card has been activated. It’s very clearly spelled out in the terms.

I was going to ask the OP if he had activated his card yet and if no, tell him NOT to activate it & call instead and tell them he has changed his mind and doesn't want it, and refuses to activate it.

Perhaps they've changed their policy since then: I app'd & was approved for Credit One back in 2012. When the card arrived and I looked over those terms I just said "No, I won't do that to myself!" Yes, I knew the terms when I app'd (pre-approved mailer), but with the card staring me in face it was just more real & I changed my mind. I called and told them I had changed my mind and refuse to activate it. They were rude & nasty of course, but I was never hit with the AF, and account never reported to my CR. The only thing ever on my CR was the app HP, which fell off years ago.

Agree with DaveIn AZ. My brother didn't activate his, ever, and was not charged an AF.

Re: 28 Days Later: A CreditONE Tale

Anonymous — Tue, 20 Feb 2018 01:33:37 GMT

Something similar happened to me. A couple years ago I applied and was approved. Card never showed. I called and told them. They said they would cancel that number and send another card. That never showed up either so I told them to just cancel my account. I don't want this card anymore and honestly it spooks me. In my case they waived the AF though.

Re: 28 Days Later: A CreditONE Tale

arkane — Tue, 20 Feb 2018 01:41:43 GMT

@Anonymouswrote:
@Aahzwrote:
While I completely sympathize with OP and agree with all of the respondents above me I think one thing deserves clarification-

@Anonymouswrote:
This is CRAZY now if I wasn't off today I would have to had wait for the return, reissue, and by the time I would have received the card, IF I received it, it would have been after the due date and I would have a 30 day late on my account.
Even if this nightmare scenario had played out you would not have areceived a 30 day late on your reports. You would (likely) have received a late payment fee, but a "30 day late" requires missing not just one due date, but two. The day after your due date you're 1-day late, not 30. As long as your payment was received and processed within 29 days of the missed due date you will not receive a 30-day late notation.

This is a misunderstandig Ifrequently see here at MyFICO which seldom gets corrected.
Not always true. Some businesses throw a 30 day late as soon as you are late. Others wait till you are a certain amount of time late. It’s different for every company. So yes you can be one day late and get a 30 day late. Mortgages do this a lot. While the majority will give you at least 10 days after the due date or longer before it’s reported. That’s not universally true.

I'd like to think you could easily get that removed by disputing the "30 day late" no? Or is "30 day late" really meant as a catch all for "you were late, even if by just 1 day"?

Re: 28 Days Later: A CreditONE Tale

Gregory1776 — Tue, 20 Feb 2018 01:44:34 GMT

@AverageJoesCreditwrote:
Wow Gregory, denied by Credit One The fates were kind to you . I know that people SHOULD read t&c , most dont, but that doesnt stop them from trying to take advantage of ones lack of awareness to put it nicely. Lots of people get caught off guard by the look of Credit One trying to imitate Capitol One, even more so when you get excited about a possible approval, happens to the best of us in rebuilding.

I had been denied Lowe’s before that, and got HD. After those denials I wanted to figure out what was up with my scores, Credit karma was no help, got my Fico and one of my dads Verizon bills was on there with a missed payment on Experian, literally had my score in the 500s. The TU EQ were fine.

Re: 28 Days Later: A CreditONE Tale

Anonymous — Mon, 18 Feb 2019 02:01:50 GMT

Credit one messed me up royally all because the poor gal who answered couldn’t understand English and the number four what do I do now that they have my account showing as closed when it’s not they closed if for non payment when I was paying they had the wrong banking info but correct debit card number this is the only bank I have had a issue with so now my freshly rebuilt credit just tanked 84pts and I’m sub 600 now any advice or do I just have to wait for them to get around to it also has anyone had problems linking a checking account for their account with credit one

Re: 28 Days Later: A CreditONE Tale

Anonymous — Mon, 18 Feb 2019 11:11:03 GMT

Before last year, all my new cards had first closing date pretty far down the road, some won't produce first closing date until close to 2 months mark from approval.

Then I had Amex Gold, which gave me first close 20 days from approval, then I had Amex Delta Gold, which has a closing date just 10 days after approval. Good thing is there is a virtual number so I can use them rather quickly.

I didn't have any card actually lost in the mail, but I did have some unfortunate shipping experiences:

1. I asked for a default design QS to replace my own design, cap1 overnight a card with the old design of my own.... called them again, they promised a new card... but mailed with usps and it took 9 days to arrive.

2. I asked for a amex gold replacement, first fedex delivered to the wrong address, then usps delivery is 2 day late, I now have 3 inactive gold card in my drawer...

So far, at least from AF and card shipping prospective, you may just have hit some bad luck.

With that being said, creditone has pretty bad reputation, there is no equivalency between creditone and cap1/amex. Be very careful with them. I ran away from them the moment I saw their web page, the fact they purposely mimic their logo to cap1 is enough to warn me.

Re: 28 Days Later: A CreditONE Tale

AverageJoesCredit — Mon, 18 Feb 2019 14:29:56 GMT

Fun fact , which i never knew until last year, Credit One actually had their logo first so if anyone copied was Capital One. Mind blown. Though they do nothing to dissuade the illusion that they arent Caputol One