topic Re: Credit one Amx Preapproved in Credit Cards

Credit one Amx Preapproved

gingerflower — Sun, 05 Feb 2023 18:10:26 GMT

Hello FICO Friends received an invitation to a preapproved credit one Amx with up to $2500 CL good grief it would be the lowest cl in my signature of Cc's I have. Lol 😆 I don't think so...

Re: Credit one Amx Preapproved

keekers — Sun, 05 Feb 2023 18:15:42 GMT

Nobody should ever get a card from Credit One. Like never ever.

Re: Credit one Amx Preapproved

gingerflower — Sun, 05 Feb 2023 18:24:31 GMT

@keekers

The offer ended up in the TRASH BIN LOL....

Re: Credit one Amx Preapproved

OmarGB9 — Sun, 05 Feb 2023 21:49:38 GMT

Yep. I've gotten it too. No thanks.

Re: Credit one Amx Preapproved

JoeRockhead — Mon, 06 Feb 2023 00:02:17 GMT

@gingerflower wrote:
@keekers
The offer ended up in the TRASH BIN LOL....

Nicely done, congratulations on your approval of the trash bin!

Re: Credit one Amx Preapproved

7774x — Mon, 06 Feb 2023 00:15:28 GMT

@keekers wrote:
Nobody should ever get a card from Credit One. Like never ever.

I would take a pass on credit one

Re: Credit one Amx Preapproved

gingerflower — Mon, 06 Feb 2023 04:54:35 GMT

@JoeRockhead

Lol .. Yes, into the trash bin it went😆

Re: Credit one Amx Preapproved

TRC_WA — Mon, 06 Feb 2023 19:15:00 GMT

@gingerflower

I don't much mind Credit One when there are no BS fees attached because they can help with the rebuild... which I am putting the finishing touches on as we speak.

My Wander card has no AF and I got a free National Park pass (I'm in WA state) and the x5 card gives 5% CB on the first $5k in purchases which will at least offset the $95 AF. The limit is high enough where I decided to pull the trigger on it.

Maybe these 2 are "upper tier" Credit One cards?

I would do the same though and trash bin a Credit One AmEx offer... I have an actual AmEx Delta Gold with a $10k limit already.

Re: Credit one Amx Preapproved

TMDSCT — Mon, 06 Feb 2023 21:28:32 GMT

LOL! Run far, far away from Credit One Bank!

Re: Credit one Amx Preapproved

NoMoreDebt — Tue, 07 Feb 2023 11:14:54 GMT

Ill admit, im unsure why AMEX would want their name attached to low end cards. I can only assume its beneficial to them monetarily with swipe fees and no risk of default?

Re: Credit one Amx Preapproved

ptatohed — Tue, 07 Feb 2023 20:26:02 GMT

1% cash back, $39 annual fee.

Must................. fight................... the.................. temptation...............

Re: Credit one Amx Preapproved

GZG — Tue, 07 Feb 2023 20:27:56 GMT

@NoMoreDebt wrote:
Ill admit, im unsure why AMEX would want their name attached to low end cards. I can only assume its beneficial to them monetarily with swipe fees and no risk of default?

I've always wondered that as well, are the swipe fees on subprime $700 CL cards really worth putting your name on?

they must have thought so

Re: Credit one Amx Preapproved

Horseshoez — Tue, 07 Feb 2023 20:55:02 GMT

@NoMoreDebt wrote:
Ill admit, im unsure why AMEX would want their name attached to low end cards. I can only assume its beneficial to them monetarily with swipe fees and no risk of default?

The only AMEX involvement with this card is to process the payment versus using the Visa or MasterCard networks. Other than the network used, this card is in no way, shape, or form an AMEX card.

Re: Credit one Amx Preapproved

hackersmovie — Wed, 08 Feb 2023 01:09:36 GMT

I know I'm going to be in the minority here but....

I got a Credit One Amex 5x card as my 2nd card after my BK DC on 3/22. I was approved via an offer from Experian's website for the card. After reading the terms, I noticed that I would be getting 5% back on Gas and Groceries up to 10k per year with a $95 af. Yes, the af stinks BUT, since getting the card back in May of 2022 they have sent me 3 months of additional 5% off Walmart and Amazon purchases for the month up to $500 of spend. That's an extra $75 in CB on top of $500 max cash back for year (which I will easily hit). So for $95 I get $480.

I was able to easily add my wife as an AU and other than their payments taking FOREVER to post and update available balance, I've had no issues with them at all.

I won't keep the card forever but, for the next 3-5 years I'll hold on.

Re: Credit one Amx Preapproved

Zoostation1 — Wed, 08 Feb 2023 06:15:57 GMT

True, but Amex also shills the Credit One card when they decline someone for one of their own cards. When Amex first tried out the SP approval I tried it knowing I'd be denied just to see what it would say since I wasn't past their 5yr1m milestone from BK. Just below the denial they were suggesting applying for a Credit One Amex with a link to them. I didn't go down that path and just waited out the period for a BCP (still getting Credit One offers from CK and in the mail though).

Re: Credit one Amx Preapproved

Horseshoez — Wed, 08 Feb 2023 15:52:03 GMT

Acting as a shill for CreditOne is logical following a denial. Why? AMEX would rather you put a card which uses the AMEX payment network in your pocket versus putting a Visa or MasterCard in it. To make this happen AMEX refers denied applicants to the lowest of the low cards on the AMEX network, yup, you guessed it, the card from Credit One.

Re: Credit one Amx Preapproved

gingerflower — Sat, 11 Feb 2023 19:03:43 GMT

@TRC_WA

I understand what you are saying about credit one bank and the offer I got had no annual fee. 2 of my relatives have credit one Amx no annual fees and it is a good bank to help those who are rebuilding their credit. I was told by the 2 relatives there haven't been any issues .

Re: Credit one Amx Preapproved

gingerflower — Sat, 11 Feb 2023 19:06:58 GMT

@ptatohedSo did you fight the TEMPTATION OR DID YOU GIVE IN LOL 🤔

Re: Credit one Amx Preapproved

gingerflower — Sat, 11 Feb 2023 19:13:49 GMT

@hackersmovie

You are not in the FICO FORUMS MINORITY HERE ON THE SUBJECT OF CREDIT ONE BANK....But, I am glad you and DW are enjoying credit one bank and not having any issues. Enjoy!

Re: Credit one Amx Preapproved

7774x — Sun, 12 Feb 2023 00:14:13 GMT

@GZG wrote:
@NoMoreDebt wrote:
Ill admit, im unsure why AMEX would want their name attached to low end cards. I can only assume its beneficial to them monetarily with swipe fees and no risk of default?
I've always wondered that as well, are the swipe fees on subprime $700 CL cards really worth putting your name on?

they must have thought so

Money , name recognition .. reeling in Amex cardholder wannabes for the future