topic Re: Anyone Seen This Before? in Credit Cards

Anyone Seen This Before?

Anonymous — Sat, 09 Mar 2019 05:33:59 GMT

Got an email from Credit One Bank today. Wondering if anyone has gotten anything like this before since my curiosity is peaked now.

Re: Anyone Seen This Before?

Anonymous — Sat, 09 Mar 2019 05:56:13 GMT

Be afraid. Be very afraid...

Re: Anyone Seen This Before?

frugal47374 — Sat, 09 Mar 2019 05:59:35 GMT

I never got an advance notice before, but it looks like an offer of a cash advance with the related fees and interest charges. I just tear them up since I never want to pay more than 0% to borrow money.

Re: Anyone Seen This Before?

Anonymous — Sat, 09 Mar 2019 06:02:42 GMT

@Anonymous wrote:
Be afraid. Be very afraid...

Not too much to be afraid of, I already have their card, have no AF with it and only a 6% interest rate. Only reason I keep it open is because I went on a wild app spree Sept-Dec last year and its keeping my age of my accounts over 2 years. And maybe because I want to see where they will cap out on a SL.....

Re: Anyone Seen This Before?

Anonymous — Sat, 09 Mar 2019 06:04:04 GMT

@frugal47374 wrote:
I never got an advance notice before, but it looks like an offer of a cash advance with the related fees and interest charges. I just tear them up since I never want to pay more than 0% to borrow money.

Now that makes more sense to be afraid of as the other poster commented. I didn't even think they did stuff like that.

Re: Anyone Seen This Before?

Anonymous — Sat, 09 Mar 2019 06:15:38 GMT

@Anonymous wrote:
@frugal47374 wrote:
I never got an advance notice before, but it looks like an offer of a cash advance with the related fees and interest charges. I just tear them up since I never want to pay more than 0% to borrow money.
Now that makes more sense to be afraid of as the other poster commented. I didn't even think they did stuff like that.

That would be my guess. Some sort of cash advance checks tied to obscene rates, though I could be completely wrong.

Re: Anyone Seen This Before?

AverageJoesCredit — Sat, 09 Mar 2019 11:51:18 GMT

How do you have a Credit One card with no af and a 6% apr? That would make it one of the best cards out there and would go against everything ive ever read on Credit One

Re: Anyone Seen This Before?

Anonymous — Sat, 09 Mar 2019 12:30:51 GMT

its credit1. I am not intrigued.

Re: Anyone Seen This Before?

LittleSal — Sat, 09 Mar 2019 13:55:48 GMT

They send a check for $250. If you deposit it they give you a $250 cash advance and increase your credit line by $250. Not a bad deal for rebuilders wanting a CLI.

Re: Anyone Seen This Before?

Anonymous — Sat, 09 Mar 2019 13:20:17 GMT

@AverageJoesCredit wrote:
How do you have a Credit One card with no af and a 6% apr? That would make it one of the best cards out there and would go against everything ive ever read on Credit One

I had the same question but since their signature says 25% on that card I decided not to ask.

Re: Anyone Seen This Before?

Jnbmom — Sat, 09 Mar 2019 13:29:22 GMT

I saw that too 25% but 6% confused.

Re: Anyone Seen This Before?

Jnbmom — Sat, 09 Mar 2019 13:33:33 GMT

So they send you a check and you deposit it as a CASH ADVANCE , yeah shred that. That's not a good deal at all

Re: Anyone Seen This Before?

coldfusion — Sat, 09 Mar 2019 14:18:42 GMT

This pretty much sums up the best course of action.

https://www.youtube.com/watch?v=7FPELc1wEvk

Re: Anyone Seen This Before?

Remedios — Sat, 09 Mar 2019 14:29:27 GMT

I still want to know what that 6% is

Re: Anyone Seen This Before?

RickNATL — Sun, 10 Mar 2019 11:24:41 GMT

Dodge that bullet...

Re: Anyone Seen This Before?

joltdude — Sun, 10 Mar 2019 14:14:04 GMT

Hmm i wonder if the % in the OPs signature are util vs APR?

A little convoluted but makes sense..

and if the card is that low of an APR.. Which sound crazy but is possible... I actually got some competitive offers for CreditOne a few years back.. not that low but competitive even on APR and grace period .. But im still not their target audience and that would have been a deal with the devil incarnate IMHO....

Even so.. Just say NO to that check .... only place it belongs is in the shredder.

-J

Re: Anyone Seen This Before?

Anonymous — Sun, 10 Mar 2019 18:24:56 GMT

Sorry all that I was MIA...

I haven't updated the signiture since the APR change, thanks for pointing that out I will get that changed. The APR is 6% and no AF. Some companies go above and beyond for SCRA benifits and Credit One is one of those companies they just dont advertise it. That is how I have a 0% APR PayPal 2% Cashback card and 6% Discover Card. Highly suggest anyone that was in the military or still in to apply for those benefits as I was paid back quite a bit between Cap1 and Synchrony and my coworkers got a bit back from Discover as well. Those checks back were the turn around for my rebuild actually, I woke up and instead of buying random stuff I wanted I paid down all my debt and went from 98% util to well under 10%.

Sorry for the winded reply but thought I would throw that out there to other people that could benefit.

Re: Anyone Seen This Before?

Anonymous — Sun, 10 Mar 2019 18:35:48 GMT

@Remedios wrote:
I still want to know what that 6% is

I want to know if that's an actual NyQuil card (yes I know that sounds crazy but there are crazier things...) or just a card you put NyQuil on and if that is how it looks in person? That is hilarious if it looks like that in person.

Re: Anyone Seen This Before?

Anonymous — Tue, 12 Mar 2019 00:09:34 GMT

It came today and you guys were right its a cash advance for a $250 CLI. It keep's the 6% APR and $0 for fees. I was thinking about waiting until my post date for this month to come since its a few days away then cashing the check and paying it right back once it post to the account. Get the CLI and next months payment all done at once. Unless I am missing something I don't see how that is a bad deal?

Wouldn't mind the CLI since my Cap1 will graduate credit steps this month and Disco in 1 or 2 months and I'm losing a $3200SL card in 2 months so this would help negate some of that.

Re: Anyone Seen This Before?

AverageJoesCredit — Tue, 12 Mar 2019 02:54:35 GMT

Thank you for your service. Thats an awesome benefit. Just be careful with Credit One. Once you past the need for them its always best to just move on. Im not sure how long the miltary benefits last but enjoy them for what they offer