topic Re: Credit One Cancellation Fail in Credit Cards

Credit One Cancellation Fail

torry590 — Sun, 18 Jul 2021 23:58:04 GMT

Well, I was trying to get rid of my fee harvester cards and this was the smallest and first on the list. It's the credit one Platinum 1.5% cash back. The annual fee is divided up after the 1st year at 8.25 a month. 🙄

Limit sits at $300 despite much improvement in my score and excellent payment history. They would not budge on the limit, but that's not the end of the world for me.

It has been paid off for a couple months now. I got tired of the 8.25 a month fee so I called to cancel because of it. Well they waived the fee for 6 months and credited the two I already paid.

They suckered me into staying lol. The month before the 6 months is up I'm calling again to cancel. Probably going to sock drawer it. Use it for a pack of gum and pay it off in 3 months or so.

Re: Credit One Cancellation Fail

Papa_Bear — Sun, 18 Jul 2021 20:43:39 GMT

I actually sent them a letter requesting the cancellation of my account. Luckily, it was done with no issues. I figured they might try the same with me and sometimes my anxiety gets in the way.

Re: Credit One Cancellation Fail

Anonymous — Sun, 18 Jul 2021 20:51:35 GMT

wow, $8.25 a month is bad enough, then they only give you $300. that makes it hard to stay at a low utilization rate. You are doing the right thing for sure

Thanks

Mark

Re: Credit One Cancellation Fail

Anonymous — Sun, 18 Jul 2021 22:03:44 GMT

That monthly fee thing is crazy. Why not just charge it once a year and be done with it. 😲

Re: Credit One Cancellation Fail

SUPERSQUID — Sun, 18 Jul 2021 22:42:20 GMT

I just dumped 2 of my bottom feeders, next gen first digital and applied bank visa. i dumped ngfd last month and it took a few calls to get the job done but i have an official cancellation letter from them. i just closed applied a few days ago and they promised me the letter in 7-10 days. august i plan to close reflex.

when you call them you need to write the date and time and

name and id number of csr

verification you owe zero

request written proof account was closed

Re: Credit One Cancellation Fail

Anonymous — Sun, 18 Jul 2021 23:25:07 GMT

I'd say call them back and close them. They're going to keep trying to get you to stay. Even after I closed mine many years ago they kept emailing me to come back lol.

Re: Credit One Cancellation Fail

torry590 — Sun, 18 Jul 2021 23:55:19 GMT

That was my main point. I could barely use it. The first year the annual fee was in a lump sum. The 2nd year they break it down monthly.

Now since they waived it, I have no issues with the card and can utilize the 1.5% without a fee eating any of it.

Re: Credit One Cancellation Fail

torry590 — Sun, 18 Jul 2021 23:56:43 GMT

I'll keep it open as long as they waive the fees. Could help with a small emergency that I want some cash back on, things like that. Plus it will age 6 more months. I'll definitely cancel if they refuse to waive again.

Re: Credit One Cancellation Fail

Remedios — Mon, 19 Jul 2021 00:25:37 GMT

@SUPERSQUID wrote:
I just dumped 2 of my bottom feeders, next gen first digital and applied bank visa. i dumped ngfd last month and it took a few calls to get the job done but i have an official cancellation letter from them. i just closed applied a few days ago and they promised me the letter in 7-10 days. august i plan to close reflex.
when you call them you need to write the date and time and
name and id number of csr
verification you owe zero
request written proof account was closed

Could you please refrain from calling anything "bottom feeder"

While you are referring to a lender/card, for many those are still necessary evil and referring to anything they might need at the moment as "bottom feeder" really doesn't help at all.

I'm sure you wouldn't want cards you have referred to via names that would make you feel less than others.

Re: Credit One Cancellation Fail

Remedios — Mon, 19 Jul 2021 00:26:55 GMT

@torry590 wrote:
That was my main point. I could barely use it. The first year the annual fee was in a lump sum. The 2nd year they break it down monthly.

Now since they waived it, I have no issues with the card and can utilize the 1.5% without a fee eating any of it.

Try again to get it waived at the end of six months. If they say yes, no reason to close.

If they say no, close it if you don't need it.

Re: Credit One Cancellation Fail

Loquat — Mon, 19 Jul 2021 00:37:54 GMT

@Remedios wrote:
@SUPERSQUID wrote:
I just dumped 2 of my bottom feeders, next gen first digital and applied bank visa. i dumped ngfd last month and it took a few calls to get the job done but i have an official cancellation letter from them. i just closed applied a few days ago and they promised me the letter in 7-10 days. august i plan to close reflex.
when you call them you need to write the date and time and
name and id number of csr
verification you owe zero
request written proof account was closed
Could you please refrain from calling anything "bottom feeder"
While you are referring to a lender/card, for many those are still necessary evil and referring to anything they might need at the moment as "bottom feeder" really doesn't help at all.

I'm sure you wouldn't want cards you have referred to via names that would make you feel less than others.

Many of around these here parts have had the need for Credit One. There was a point in my life when I had them in my wallet and it was at a time when I was less educated about this stuff and they were willing to give me a card with a limit (and a fee) when no one else would.

So while they may not be ideal for some in the long game, they still have a place in this space.

Re: Credit One Cancellation Fail

GrandBay — Mon, 19 Jul 2021 00:43:23 GMT

@Loquat well said

Re: Credit One Cancellation Fail

gingerflower — Mon, 19 Jul 2021 05:04:58 GMT

@Loquat

Well said, and I agree !

Re: Credit One Cancellation Fail

surferchris — Mon, 19 Jul 2021 06:10:09 GMT

This is just my two cents:

One of my older accounts is Fingerhut and once a year I buy something just to keep it open. Also have Credit One.

Just some DP's: household income of at least $500,000 this year and a handful of prime cards. Next year my personal spend will put me in line for Amex black, with about three times income of this year.

However, I have also only made less than $36,000 a year for many years and struggled to get ahead financially. And during those times when we lived paycheck to paycheck, with bad credit, Amex and Chase credit cards were nowhere to be found, both canceled us. Heck, one time we were on our last $1,000 of savings and Chase bank gave it to the IRS...lol and then charged a fee for doing so and closed our checking account. It was reported to Chexsystems which prevented us from getting another account.

I have had good credit then bad credit then good credit then bad credit and now good credit again (for the third time). Most people in our country are going to have this same situation multiple times in their lives due to globalization, etc. It is thus far better to have some low end cards that you stick with just in case you are one of those people. You might not be, but I also never thought I would be in that situation.

Bottom line, if I ever lose my income and have no credit again, Credit One and Fingerhut will still be there when Amex most likely won't. I am humble and accept anything that someone is gracious enough to give me and my family, including $300 Credit One, $1,500 Credit One and $500 Fingerhut credit cards.

Again, just my two cents...

Re: Credit One Cancellation Fail

Total80sKid — Mon, 19 Jul 2021 06:38:48 GMT

@surferchris wrote:
This is just my two cents:
One of my older accounts is Fingerhut and once a year I buy something just to keep it open. Also have Credit One.

Just some DP's: household income of at least $500,000 this year and a handful of prime cards. Next year my personal spend will put me in line for Amex black, with about three times income of this year.

However, I have also only made less than $36,000 a year for many years and struggled to get ahead financially. And during those times when we lived paycheck to paycheck, with bad credit, Amex and Chase credit cards were nowhere to be found, both canceled us. Heck, one time we were on our last $1,000 of savings and Chase bank gave it to the IRS...lol and then charged a fee for doing so and closed our checking account. It was reported to Chexsystems which prevented us from getting another account.

I have had good credit then bad credit then good credit then bad credit and now good credit again (for the third time). Most people in our country are going to have this same situation multiple times in their lives due to globalization, etc. It is thus far better to have some low end cards that you stick with just in case you are one of those people. You might not be, but I also never thought I would be in that situation.

Bottom line, if I ever lose my income and have no credit again, Credit One and Fingerhut will still be there when Amex most likely won't. I am humble and accept anything that someone is gracious enough to give me and my family, including $300 Credit One, $1,500 Credit One and $500 Fingerhut credit cards.

Again, just my two cents...

Very well said.

Re: Credit One Cancellation Fail

torry590 — Mon, 19 Jul 2021 07:47:21 GMT

@Loquat wrote:
@Remedios wrote:
@SUPERSQUID wrote:
I just dumped 2 of my bottom feeders, next gen first digital and applied bank visa. i dumped ngfd last month and it took a few calls to get the job done but i have an official cancellation letter from them. i just closed applied a few days ago and they promised me the letter in 7-10 days. august i plan to close reflex.
when you call them you need to write the date and time and
name and id number of csr
verification you owe zero
request written proof account was closed
Could you please refrain from calling anything "bottom feeder"
While you are referring to a lender/card, for many those are still necessary evil and referring to anything they might need at the moment as "bottom feeder" really doesn't help at all.

I'm sure you wouldn't want cards you have referred to via names that would make you feel less than others.

Many of around these here parts have had the need for Credit One. There was a point in my life when I had them in my wallet and it was at a time when I was less educated about this stuff and they were willing to give me a card with a limit (and a fee) when no one else would.

So while they may not be ideal for some in the long game, they still have a place in this space.

Agreed! This card was one of my stepping stones. A price I was willing to pay, and it paid off. These cards are necessary for some and do serve a good purpose in those cases.

Anyway, I'll keep trucking along for 6 more months with this card. Plus all my calls are recorded, I have the email, and when time comes to cancel I'll request in writing and the call will be recorded.