topic Re: Finally cut ties with Credit One! in Credit Cards

Finally cut ties with Credit One!

jcooks — Wed, 20 Oct 2021 12:22:51 GMT

Since rebuilding my credit, I was approved for Amex Gold, Amex Blue Business Plus, Amex Blue Business Cash, Chase Freedom Flex and Chase Sapphire Preferred. A few months ago I called to cancel Credit One and they offered me $0 AF (which is charged monthly) for a few months. I lost track of when that was supposed to end, but I knew it was soon. Just yesterday I saw it post as a charge for the AF, paid it off and shortly called them to cancel. When they asked me the reasons why, this card doesn't fit my profile anymore. I get charged a crazy fee for a card that I don't use because it offers no more benefit to me. A card never reached me and I get charged a replacement card fee. I get charged for any CLI's. My BBP credit limit was recently raised to 27k, was instantly approved for the CSP for 12.7k. This was stuck at $450 (could have been higher if I had paid the $25 to raise it by $50, which I declined).

Thank you Credit One for helping me in my rebuild, but now, it is finally time to say goodbye!

Re: Finally cut ties with Credit One!

difringe — Wed, 20 Oct 2021 12:57:57 GMT

@jcooks wrote:
Since rebuilding my credit, I was approved for Amex Gold, Amex Blue Business Plus, Amex Blue Business Cash, Chase Freedom Flex and Chase Sapphire Preferred. A few months ago I called to cancel Credit One and they offered me $0 AF (which is charged monthly) for a few months. I lost track of when that was supposed to end, but I knew it was soon. Just yesterday I saw it post as a charge for the AF, paid it off and shortly called them to cancel. When they asked me the reasons why, this card doesn't fit my profile anymore. I get charged a crazy fee for a card that I don't use because it offers no more benefit to me. A card never reached me and I get charged a replacement card fee. I get charged for any CLI's. My BBP credit limit was recently raised to 27k, was instantly approved for the CSP for 12.7k. This was stuck at $450 (could have been higher if I had paid the $25 to raise it by $50, which I declined).

Thank you Credit One for helping me in my rebuild, but now, it is finally time to say goodbye!

Congratulations on moving on from Credit One! I knew about the monthly fees and whatnot, but they freaking charged you for a CLI, that's just nuts! Goodbye indeed!

Re: Finally cut ties with Credit One!

rostrow416 — Wed, 20 Oct 2021 12:45:42 GMT

Credit One is fine as a tool to use when rebuilding your credit. It's perfectly fine when options are limited, but a big congratulations for moving on from them and onto bigger, better cards.

Re: Finally cut ties with Credit One!

NYC_Fella — Wed, 20 Oct 2021 13:49:53 GMT

No complaints about Credit One. They are what they are and you know what you're getting into. Having two Credit One cards helped immensely with building my credit. But I paid a lot for that help and felt no compunction about cutting them loose when I didn't need them any more. The two annoying things to me, apart from the fees which I accepted knowingly, were the lack of an auto-pay function and the time they took to credit "standard" (i.e., free) payments.

As an aside, I also got rid of Merrick, Aspire, Indigo, Total, First Access, Ollo, First Premier, and two bucketed Capital One cards all at the same time.

Re: Finally cut ties with Credit One!

jcooks — Wed, 20 Oct 2021 14:21:03 GMT

I wish they had the option to PC into a non-AF version, but didn't. They didn't even try to keep me as a customer anymore, so it was a lost cause for them. Haven't charged anything on that card in a long while. Just the monthly fee.

Re: Finally cut ties with Credit One!

HowDoesThisAllWork — Wed, 20 Oct 2021 23:41:55 GMT

@jcooks wrote:
Since rebuilding my credit, I was approved for Amex Gold, Amex Blue Business Plus, Amex Blue Business Cash, Chase Freedom Flex and Chase Sapphire Preferred. A few months ago I called to cancel Credit One and they offered me $0 AF (which is charged monthly) for a few months. I lost track of when that was supposed to end, but I knew it was soon. Just yesterday I saw it post as a charge for the AF, paid it off and shortly called them to cancel. When they asked me the reasons why, this card doesn't fit my profile anymore. I get charged a crazy fee for a card that I don't use because it offers no more benefit to me. A card never reached me and I get charged a replacement card fee. I get charged for any CLI's. My BBP credit limit was recently raised to 27k, was instantly approved for the CSP for 12.7k. This was stuck at $450 (could have been higher if I had paid the $25 to raise it by $50, which I declined).

Thank you Credit One for helping me in my rebuild, but now, it is finally time to say goodbye!

Amen! I did the exact same thing in June of this year (so, some four months ago) and am rather grateful to Credit One for the one year that I had their credit card. They have some very interesting "requirements". Anyway, good point. Great post!

Re: Finally cut ties with Credit One!

Total80sKid — Thu, 21 Oct 2021 04:18:30 GMT

Congrats on your growth!

I'm one of the lucky ones with a CreditOne card without an AF. They do serve their purpose.

Re: Finally cut ties with Credit One!

Anonymous — Thu, 21 Oct 2021 14:51:12 GMT

@Total80sKid wrote:
Congrats on your growth!

I'm one of the lucky ones with a CreditOne card without an AF. They do serve their purpose.

The only "purpose" I can see using this company for is if there are absolutly no other options (and there always are... and better ones at that) in order to obtain better cards in the near future. Do yourself a favor, T8K, and have a look around at the offerings of the many legit companies that you could probably be doing business with instead of these predators.

Re: Finally cut ties with Credit One!

SoCalGardener — Thu, 21 Oct 2021 18:01:19 GMT

@jcooks wrote:
Since rebuilding my credit, I was approved for Amex Gold, Amex Blue Business Plus, Amex Blue Business Cash, Chase Freedom Flex and Chase Sapphire Preferred. A few months ago I called to cancel Credit One and they offered me $0 AF (which is charged monthly) for a few months. I lost track of when that was supposed to end, but I knew it was soon. Just yesterday I saw it post as a charge for the AF, paid it off and shortly called them to cancel. When they asked me the reasons why, this card doesn't fit my profile anymore. I get charged a crazy fee for a card that I don't use because it offers no more benefit to me. A card never reached me and I get charged a replacement card fee. I get charged for any CLI's. My BBP credit limit was recently raised to 27k, was instantly approved for the CSP for 12.7k. This was stuck at $450 (could have been higher if I had paid the $25 to raise it by $50, which I declined).

Thank you Credit One for helping me in my rebuild, but now, it is finally time to say goodbye!

Congratulations! Not just for getting rid of Credit One, but for the *great* job you're doing of rebuilding your credit. Keep up the good work!

Re: Finally cut ties with Credit One!

jcooks — Fri, 22 Oct 2021 08:40:12 GMT

@Anonymous wrote:
@Total80sKid wrote:
Congrats on your growth!

I'm one of the lucky ones with a CreditOne card without an AF. They do serve their purpose.
The only "purpose" I can see using this company for is if there are absolutly no other options (and there always are... and better ones at that) in order to obtain better cards in the near future. Do yourself a favor, T8K, and have a look around at the offerings of the many legit companies that you could probably be doing business with instead of these predators.

For me there weren't any other options unless I went with another predatory banks. I couldn't even get approved for a secured card. After getting this card, I was then finally approved for 2 secured and moved up from there.

Re: Finally cut ties with Credit One!

FireMedic1 — Fri, 22 Oct 2021 12:09:09 GMT

Congrats! Nice rebuild. Check your reports often and make sure they really closed it. There have many complaints they'll do anythng to hold to you. And not shut it down.

Re: Finally cut ties with Credit One!

Crowhelm — Fri, 22 Oct 2021 14:24:37 GMT

@jcooks wrote:
Since rebuilding my credit, I was approved for Amex Gold, Amex Blue Business Plus, Amex Blue Business Cash, Chase Freedom Flex and Chase Sapphire Preferred. A few months ago I called to cancel Credit One and they offered me $0 AF (which is charged monthly) for a few months. I lost track of when that was supposed to end, but I knew it was soon. Just yesterday I saw it post as a charge for the AF, paid it off and shortly called them to cancel. When they asked me the reasons why, this card doesn't fit my profile anymore. I get charged a crazy fee for a card that I don't use because it offers no more benefit to me. A card never reached me and I get charged a replacement card fee. I get charged for any CLI's. My BBP credit limit was recently raised to 27k, was instantly approved for the CSP for 12.7k. This was stuck at $450 (could have been higher if I had paid the $25 to raise it by $50, which I declined).

Thank you Credit One for helping me in my rebuild, but now, it is finally time to say goodbye!

Congrats on getting rid of them. I see their practices as predatory but I know opinions vary. We went the credit union route, got a mortgage first, then a car loan, and getting a credit card after that was easy. Never went the secured route especially since our dilemma was mainly caused by the reckless behavior of the banks causing the housing collapse. I wouldn't have more than one credit card today if it wasn't for all those great cash-back cards.

Re: Finally cut ties with Credit One!

jcooks — Fri, 22 Oct 2021 21:30:09 GMT

@FireMedic1 wrote:
Congrats! Nice rebuild. Check your reports often and make sure they really closed it. There have many complaints they'll do anythng to hold to you. And not shut it down.

I received an email showing that the account is closed. When I log in it shows 0 available credit limit with a 0 balance. I will continue to check just in case until next billing cycle. Thank you.

Re: Finally cut ties with Credit One!

Total80sKid — Sat, 23 Oct 2021 04:22:43 GMT

@Anonymous wrote:
@Total80sKid wrote:
Congrats on your growth!

I'm one of the lucky ones with a CreditOne card without an AF. They do serve their purpose.
The only "purpose" I can see using this company for is if there are absolutly no other options (and there always are... and better ones at that) in order to obtain better cards in the near future. Do yourself a favor, T8K, and have a look around at the offerings of the many legit companies that you could probably be doing business with instead of these predators.

They are only predatory if you allow them to be.

2% cash back, no fees, my 2nd highest limit. I'm fine with them right now.

Re: Finally cut ties with Credit One!

BronzeTrader — Mon, 15 Nov 2021 15:00:31 GMT

I do not think Credit One has good reputation....

Re: Finally cut ties with Credit One!

practical1 — Tue, 16 Nov 2021 13:25:47 GMT

Credit One does serve a purpose, much like payday lenders and loan sharks do.... and understand when people have no alternative.

In my darkest days, with scores hovering around 450 and not a penny to my name, I took the plunge. As soon as the card arrived, I cancelled it, before making any transactions or incurring fees. Never regretted the decision although it probably cost me a couple of more years to get started in my credit rehabilitation process. 8 years later, don't regret my decision and appreciate your difficult choice.

Good for you that they're in your rear-view mirror! May the seas be smooth an winds in your sails, as they appear to be, now!

All the best!

Re: Finally cut ties with Credit One!

Anonymous — Fri, 19 Nov 2021 01:32:14 GMT

My Credit One AMEX has only a 39 AF. I can deal with that. I don't need the card but I keep it around. My Credit One VISA has a 95 AF, and I don't need it either, but I've found out something interesting recently - a reason to keep the card around you could say. Have gotten into buying crypto recently. It's a pain in the butt to use my debit card. All these hoops to jump through for conducting international currency purchases. Several credit card companies don't allow crypto purchases including Capital One. The ones that do allow it seem to always treat crypto purchases as cash advances! That gets pricey fast! Guess who doesn't? My Credit One VISA! Just another regular transaction to them. That makes me laugh. I'll take it though...

Re: Finally cut ties with Credit One!

Anonymous — Fri, 19 Nov 2021 01:38:46 GMT

Good for you.. There's no reason to hold on to a credit builder card once you've become a responsible credit user.

Re: Finally cut ties with Credit One!

Total80sKid — Fri, 19 Nov 2021 05:13:58 GMT

@Anonymous wrote:
Good for you.. There's no reason to hold on to a credit builder card once you've become a responsible credit user.

My CreditOne card isn't a credit builder.

Not all CreditOne products are for bad/no credit.

Re: Finally cut ties with Credit One!

Ilinferno — Fri, 19 Nov 2021 06:19:20 GMT

Congrats on moving on!