topic Re: Am I the only one who likes Credit One bank? in Credit Cards

Am I the only one who likes Credit One bank?

Joecooltech — Tue, 16 Apr 2013 14:30:55 GMT

Yes, there is a monthly fee and the interest rates are crazy but they are making my cap one cards just look sad. I started out with a $300 limit and now have $800 my cap one will be stuck at 500 until the next ice age. They have helped me build credit history and were the only one to say yes 2 + years ago when everyone was saying no. I have had no problem with them getting my payments no mysterious charges. Anyone else have a good story or bad? I am I nuts have all the plasic fumes from my cc got to me?

Re: Am I the only one who likes Credit One bank?

dodfire — Tue, 16 Apr 2013 14:33:42 GMT

The card does its job for those who cannot get a card. I had one also. But, once it has served its purpose, there is no need to pay the annual fee for that card. Not to mention they charge you like $20 to get a CLI.

You should contact the Capital One Executive Office and request a CLI on your card with them.

Re: Am I the only one who likes Credit One bank?

thepriceisright — Tue, 16 Apr 2013 14:33:45 GMT

They serve a purpose. They extend credit to very risky borrowers and have to cover their exposure using fees and such. Now, some of their behavior is pretty shady, like calculating interest daily, only allowing 4 payments per month, blocking aggregation sites such as Mint, not allowing auto pay, not supporting eBill services..

They really want their cardholders to miss payments, pay late fees, etc.

Re: Am I the only one who likes Credit One bank?

Boonie — Tue, 16 Apr 2013 14:34:32 GMT

I have no problem with them.... one of the few subprime cards that will give you a CLI every six months.

Re: Am I the only one who likes Credit One bank?

Joecooltech — Tue, 16 Apr 2013 14:39:27 GMT

EO office for Cap one is on my calendar for next Jan I am using and abusing that card all year first. next Jan will be 3 years with card

Re: Am I the only one who likes Credit One bank?

Anonymous — Tue, 16 Apr 2013 14:41:33 GMT

@thepriceisright wrote:
They serve a purpose. They extend credit to very risky borrowers and have to cover their exposure using fees and such. Now, some of their behavior is pretty shady, like calculating interest daily, only allowing 4 payments per month, blocking aggregation sites such as Mint, not allowing auto pay, not supporting eBill services..

They really want their cardholders to miss payments, pay late fees, etc.

I concur! There's so many other subprime credit card products out there that are offered by less shady companies that aren't hoping their customers default so they can gouge them more.

Re: Am I the only one who likes Credit One bank?

Boonie — Tue, 16 Apr 2013 15:10:24 GMT

I find it interesting that everyone wants a Capital One credit card when you have to contact their EO office just to ask for a CLI.... is Capital One worth the hassle to have it in your wallet?! I am not so sure.

Re: Am I the only one who likes Credit One bank?

boomhower — Tue, 16 Apr 2013 15:38:01 GMT

I'd rather have a $500 capone than a $2k Credit One. Paying a monthly fee for a credit card is just nuts. For those recovering it's acceptable but once you can obtain something better ditch them ASAP.

Re: Am I the only one who likes Credit One bank?

Anonymous — Tue, 16 Apr 2013 15:38:24 GMT

you're mixing up the discussion which is about Credit One Bank, not capital One bank.

Re: Am I the only one who likes Credit One bank?

codimom — Tue, 16 Apr 2013 15:40:56 GMT

@Anonymous wrote:
@thepriceisright wrote:
They serve a purpose. They extend credit to very risky borrowers and have to cover their exposure using fees and such. Now, some of their behavior is pretty shady, like calculating interest daily, only allowing 4 payments per month, blocking aggregation sites such as Mint, not allowing auto pay, not supporting eBill services..

They really want their cardholders to miss payments, pay late fees, etc.
I concur! There's so many other subprime credit card products out there that are offered by less shady companies that aren't hoping their customers default so they can gouge them more.

This is exactly my problem with this company. I posted about my recent 'pre approval" with tongue firmly in cheek, since it arrived in the same mail batch as other prime card offers. This company does serve a purpose for rebuilding. In some cases, i think it makes a cardholder be uber vigilent with their card, so as not to miss any payments and have to pay the higher fees etc.

Re: Am I the only one who likes Credit One bank?

Anonymous — Tue, 16 Apr 2013 17:53:23 GMT

@Joecooltech wrote:
Yes, there is a monthly fee and the interest rates are crazy but they are making my cap one cards just look sad. I started out with a $300 limit and now have $800 my cap one will be stuck at 500 until the next ice age. They have helped me build credit history and were the only one to say yes 2 + years ago when everyone was saying no. I have had no problem with them getting my payments no mysterious charges. Anyone else have a good story or bad? I am I nuts have all the plasic fumes from my cc got to me?

How much have you paid in fees and interest in 2 years? I suspect a Capital One secured card would have gotten you a better Cap1 card by now and you get your deposit back..

Re: Am I the only one who likes Credit One bank?

Joecooltech — Tue, 16 Apr 2013 18:16:33 GMT

To answer I am not sure never did the math don't want to. They are my longest running card so canceling the out at this point would kill my AAOA.. When i top 720 i will cancel it though And i have a cap card which the limt has never move.

Re: Am I the only one who likes Credit One bank?

phillyguy12 — Tue, 16 Apr 2013 18:21:05 GMT

if i had to choose between Credit One and 1st Premier I would take Credit One in heart beat! I still have my credit one account its servered its purpose and has allowed me to rebuild, i started out with 1150 limit and i have resisted the urge to take their small 100-150 bumps for 15-20 bucks. personally i think they are one of the better sub prime lenders for unsecured cards. i don't care for the high annual fee and payment holds but when you have limited options they aren't that bad, and i dont recall any setup fee either. 1st Premier on the other hand i wouldn't recommend to an enemy. Their cards typically come to your mailbox with most of the line taken up due to all of the fees they make up, account opening, account setup, 1 yr annual fee, then you have to pay some bs fee to get online access to your account, and the monthly servicing fee any month you have a balance. I closed my 1st premier account a few days after i got my discover card. I plan on closing my Credit One account out next yr or when i get a big bump in one of my prime cards or i finally get one of the amx blue revolvers. So yea i have no problem w/ Credit One but its def not a keeper.

Re: Am I the only one who likes Credit One bank?

Anonymous — Tue, 16 Apr 2013 18:36:47 GMT

@Joecooltech wrote:
To answer I am not sure never did the math don't want to. They are my longest running card so canceling the out at this point would kill my AAOA.. When i top 720 i will cancel it though And i have a cap card which the limt has never move.

For the billion-ith time that it has been explained on this forum, closing out a credit card will not affect your AAoA for 10 years! The account will continue to age as if it were open and will continue to grow with your AAoA for 10 more years. So there is never any AAoA concern when considering closing a credit card.

Re: Am I the only one who likes Credit One bank?

Anonymous — Tue, 16 Apr 2013 19:31:50 GMT

@Anonymous wrote:
@Joecooltech wrote:
To answer I am not sure never did the math don't want to. They are my longest running card so canceling the out at this point would kill my AAOA.. When i top 720 i will cancel it though And i have a cap card which the limt has never move.
For the billion-ith time that it has been explained on this forum, closing out a credit card will not affect your AAoA for 10 years! The account will continue to age as if it were open and will continue to grow with your AAoA for 10 more years. So there is never any AAoA concern when considering closing a credit card.

1,000,000,000,000 + 1

Re: Am I the only one who likes Credit One bank?

Anonymous — Tue, 16 Apr 2013 19:32:42 GMT

@Joecooltech wrote:
To answer I am not sure never did the math don't want to. They are my longest running card so canceling the out at this point would kill my AAOA.. When i top 720 i will cancel it though And i have a cap card which the limt has never move.

Math is not your strong suit.

Re: Am I the only one who likes Credit One bank?

Anonymous — Tue, 16 Apr 2013 19:37:56 GMT

@Anonymous wrote:
@Joecooltech wrote:
To answer I am not sure never did the math don't want to. They are my longest running card so canceling the out at this point would kill my AAOA.. When i top 720 i will cancel it though And i have a cap card which the limt has never move.
Math is not your strong suit.

When I'm dealing with my own money, MATH IS MY BIGGEST CONCERN.