topic Re: Credit One Offers? in Credit Cards

Credit One Offers?

JNA1 — Fri, 02 Apr 2021 04:52:23 GMT

We only still have this card because C1 waived the AF, and it's DW's oldest account. Unlike some accounts I've heard people mention here, it does have grace period.

I'm wondering if Credit One is trying to improve its status from being a rebuilder/predatory lender, or if they are just trying to keep account holders? Either way, I'll probably find $300 of uncategorized spend this month and get a little extra cheese again. If so, this will be $26 worth of cash back we've got from Credit One. Who'da thunk it??

Re: Credit One Offers?

dthaha — Fri, 02 Apr 2021 05:04:18 GMT

Doesn't Credit One still charge interest as soon as a transaction posts? Meaning that you have to basically pay the charge off day of so you can reap the cash back? Seems like Credit One is trying to get more customers because they'll probably make all the cash back offers back via interest charges.

Re: Credit One Offers?

Slabenstein — Fri, 02 Apr 2021 05:07:24 GMT

@dthaha wrote:
Doesn't Credit One still charge interest as soon as a transaction posts? Meaning that you have to basically pay the charge off day of so you can reap the cash back? Seems like Credit One is trying to get more customers because they'll probably make all the cash back offers back via interest charges.

Some of their cards don't have grace periods and some of them do. I think it varies by account, even for the same product.

Re: Credit One Offers?

JNA1 — Fri, 02 Apr 2021 05:15:34 GMT

@dthaha wrote:
Doesn't Credit One still charge interest as soon as a transaction posts? Meaning that you have to basically pay the charge off day of so you can reap the cash back? Seems like Credit One is trying to get more customers because they'll probably make all the cash back offers back via interest charges.

No, DW's doesn't do that, but I've where others do. Her card had a $1500 SL, 1% cash back, a normal 25 day grace period, and it only had a $39 AF. I've seen people who had no rewards $300 cards with $75 AFs, so they aren't all created equally.

It was her first CC and I fully expected to have closed it by now, but with them waiving the AF, we really have no reason to close it. We've literally used it once in over a year to get the $13 cash back a few months ago.

Re: Credit One Offers?

Brian_Earl_Spilner — Fri, 02 Apr 2021 06:05:17 GMT

@dthaha They have about 20 variations of a card where the af, monthly service fee, grace period, and apr will vary. Their best version has no fees, a grace period, and better rates than some banks