topic Re: PreApproved .... should I ??? in Credit Cards

PreApproved .... should I ???

Anonymous — Thu, 27 Jun 2019 09:55:29 GMT

I was sent a Credit One PreApproval in the Mail, is it a good idea to get this card??? I already have a Cap1 secured 200 cl & a Disco secured 300 cl.

Re: PreApproved .... should I ???

hawkins — Thu, 27 Jun 2019 10:34:50 GMT

Short answer: NO!, HELL NO!, and DEFINITELY NO! You will thank me later.

Re: PreApproved .... should I ???

Shooting-For-800 — Thu, 27 Jun 2019 11:03:39 GMT

I would skip it.

Keep checking Cap One, Discover, and Merrick for preapproval for unsecured cards.

Re: PreApproved .... should I ???

Anonymous — Thu, 27 Jun 2019 11:10:34 GMT

Guess that’s a NO 😆
Thanks for the advice!!!

Re: PreApproved .... should I ???

Anonymous — Thu, 27 Jun 2019 11:14:42 GMT

@Anonymous wrote:
I was sent a Credit One PreApproval in the Mail, is it a good idea to get this card??? I already have a Cap1 secured 200 cl & a Disco secured 300 cl.

IMO Credit One are for those who can not achieve what you have already achieved.....

"I already have a Cap1 secured 200 cl & a Disco secured 300 cl."
I think you will be better off without it and you will be free of paying that monthly fee.....keep up the good work!!...

Re: PreApproved .... should I ???

FicoGuy2019 — Thu, 27 Jun 2019 11:18:41 GMT

lol, I need to get around to axing my 2 C1's at some point.

Re: PreApproved .... should I ???

Anonymous — Thu, 27 Jun 2019 11:26:07 GMT

I had 2 of them also.....1 for about a year and the other about a year and a half. They served their purpose.....

Re: PreApproved .... should I ???

Anonymous — Thu, 27 Jun 2019 12:56:36 GMT

@FicoGuy2019, now would be a great time for that

Re: PreApproved .... should I ???

pinkandgrey — Thu, 27 Jun 2019 13:23:14 GMT

Nooooo. Avoid Credit One if at all possible. Check Discover and Capital One prequals instead.

Re: PreApproved .... should I ???

BallBounces — Thu, 27 Jun 2019 17:20:59 GMT

@Anonymous wrote:
I was sent a Credit One PreApproval in the Mail, is it a good idea to get this card??? I already have a Cap1 secured 200 cl & a Disco secured 300 cl.

"Is it a good idea to get this card?" For you, probably not, given what information we have. Better to focus on perfect payment on the secured cards you have, as well as all other debts. Unsecured versions will likely be available soon enough.

Re: PreApproved .... should I ???

coreysw12 — Thu, 27 Jun 2019 19:10:12 GMT

A credit one card isn't the end of the world. For some people, the monthly fee (around $8) is worth it to have an unsecured CC, when no other banks are offering them one.

Ya, paying $8/mo isn't fun, but really it's not that much money. And if you cancel the card after a short time, no harm no foul, it'll still continue helping your credit score for 10 more years. And if you charge more than $800/mo or so on it, the rewards will cancel out the fee. When the card is done serving its purpose, cancel it and move on.

There's nothing wrong with Credit One, you just have to know what you're signing up for beforehand. It has its purpose. Yes, it's decidedly a useless and terrible card for people that can qualify for something better, but not everybody can.

All that being said, since OP already has 2 secured cards, they don't need this credit one card. In a few months of good payments on the secured cards, better opportunities will come around soon.

Re: PreApproved .... should I ???

Anonymous — Thu, 27 Jun 2019 19:31:55 GMT

Burn it ! credit one is the epitamy of preditory lending......

@Anonymous wrote:
I was sent a Credit One PreApproval in the Mail, is it a good idea to get this card??? I already have a Cap1 secured 200 cl & a Disco secured 300 cl.

Re: PreApproved .... should I ???

stonedog23 — Sun, 30 Jun 2019 01:49:01 GMT

 wrote:

 
 
Ya, paying $8/mo isn't fun, but really it's not that much money. And if you cancel the card after a short time, no harm no foul, it'll still continue helping your credit score for 10 more years. And if you charge more than $800/mo or so on it, the rewards will cancel out the fee. When the card is done serving its purpose, cancel it and move on

Idk, paying an annual fee of $96 is problematic to me. And who’s to say the OP is pre approved for the rewards one, which is 1% if I’m not mistaken. A friend of mine has one and she has an annual fee along with a monthly maintenance fee. A rip off. I can never, in good conscience, tell anyone to go for a credit one product.