topic Re: I Just Closed My CreditOne Account!!! in Credit Cards

I Just Closed My CreditOne Account!!!

Anonymous — Fri, 06 Apr 2018 22:05:30 GMT

I am so happy that I am finally to a point where I no longer need the card! I called to cancel a few months ago, but they offered to waive the AF (charged monthly) for three months so I kept it around a little longer. I am slightly miffed that they didn't even try to keep me around this time, but I don't think I have used the card in 6 months, so that is probably why...

Re: I Just Closed My CreditOne Account!!!

pipeguy — Fri, 06 Apr 2018 22:25:50 GMT

Thumbs up to anyone that dumps that vulture card!

Re: I Just Closed My CreditOne Account!!!

Anonymous — Fri, 06 Apr 2018 22:28:00 GMT

Congrats...onward and upward!!

Re: I Just Closed My CreditOne Account!!!

ryder32244 — Fri, 06 Apr 2018 22:37:00 GMT

I have had a Credit One account for a while and the limit sits at 1300. Thiking of closing the card as I never use it, but it helps my debt ratio a little. Why did you close? Just asking to weigh on what I need to do with my CO card.

Re: I Just Closed My CreditOne Account!!!

Anonymous — Fri, 06 Apr 2018 22:44:21 GMT

The limit was $950, which with my new cards really wasn't very useful to me and I didn't see the point in the AF. If they were willing to waive the AF, completely or just for 3-6 months, I would have kept it around a bit longer. For the most part, I am keeping my utilization under 10%, although I am putting a big purchase on my Discover next week, so I didn't really need the cushion. My Discover is 0% for the next 12 months, so they are currently getting 95% of my attention anyways.

Re: I Just Closed My CreditOne Account!!!

pipeguy — Fri, 06 Apr 2018 22:48:28 GMT

@ryder32244 wrote:
I have had a Credit One account for a while and the limit sits at 1300. Thiking of closing the card as I never use it, but it helps my debt ratio a little. Why did you close? Just asking to weigh on what I need to do with my CO card.

Just google Sherman LLC and their companies along with horror stories on CreditOne fees/penalties/et al - also search MyFico, lots of threads. I understand (not really) maybe using CreditOne for getting started or rebuilding, but the second you get a real credit card break your deal with the devil and dump it!

Re: I Just Closed My CreditOne Account!!!

AverageJoesCredit — Fri, 06 Apr 2018 23:12:45 GMT

Good for you. Looking at your limits, i wouldnt have kept them even if the offered 3 or more months no af. You dont need that card or its limit imo.

Re: I Just Closed My CreditOne Account!!!

sueblue34 — Fri, 06 Apr 2018 23:54:21 GMT

Kudos to you!!

I’m planning on getting rid of mines at the end of May. My limit is $1950. I’ve had it for about 2-3 years. Just waiting on my next statement to reflect $0 balance for a month or so then that’s it.

Re: I Just Closed My CreditOne Account!!!

TiggerDat — Sat, 07 Apr 2018 08:13:54 GMT

Feels great doesn't it?

Re: I Just Closed My CreditOne Account!!!

jenrn123 — Thu, 19 Apr 2018 14:45:09 GMT

Way to go! I just spent less than 10 minutes on the phone to close mine as well. They offered no AF for 6 months, but I politely declined. Asked me if I was sure and I said "Yes". Account (purportedly) closed. It wasn't as difficult as I feared after reading other threads, but I will remain vigilant and monitor to make sure that no further charges are added. I do have another account with them that I will be closing within the next 6 months, but it is still in it's no AF first year. The cards served their purpose for rebuilding, but now I have more substantial CLs with major issuers with no AF plus rewards.