topic Re: Credit One Bank, change of mind after applying! in Rebuilding Your Credit

Credit One Bank, change of mind after applying!

adifferentme — Wed, 26 Apr 2017 20:42:50 GMT

I recently applied for a card from Credit One and was approved w/ a $400CL, after reading all the horrible reviews across the internet I decided to cancel the application before the card was sent out. I called and asked to cancel my app since a card had not been sent out yet. It was almost impossible. The rep repeatedly asked me why I no longer wanted the card, offered to remove AF for the first year.... I truly don't see any purpose in this card, not even for rebuilding. I figure if I'm going to have to pay a $75 AF as soon as I get the card and interest from the date of purchase & $9.95 to make a payment; I'd be better off putting $200 & getting a secured card which I would eventually get the $200 back at some point. I guess some ppl chose Credit One simply because they have to pay no money upfront. But " everything free is not good!"
I cancelled the app and at the end of the conversation I asked for confirmation. She told me I would immediately receive an email. I have not received any email from them at all. I went back on the page to check my application status and it now says " our system indicates the application was cancelled" I printed a copy of it because I Do Not Trust this company after reading so many horrible, nightmarish reviews about them! Does any one else have any experience with them after canceling or not activating a card from them?

Re: Credit One Bank, change of mind after applying!

Anonymous — Wed, 26 Apr 2017 21:40:26 GMT

If you receive the card just don't activate it. I got a pre approval offer from them and accepted it then found out how awful they were and called and told them never mind and the guy told me just don't activate it when I get it, so that's what I did. This was about 6 months ago and it didn't go on my credit or anything so obviously the rep was correct in telling me not to activate it.

Re: Credit One Bank, change of mind after applying!

rmduhon — Wed, 26 Apr 2017 21:48:27 GMT

I wouldn't trust that not activating a card would be considered canceling it. And a card doesn't have to be activated to report. Synchrony is famous for reporting new accounts within a day or two of approval before the cards reach the customers.

Re: Credit One Bank, change of mind after applying!

Anonymous — Wed, 26 Apr 2017 21:53:27 GMT

@rmduhon wrote:
I wouldn't trust that not activating a card would be considered canceling it. And a card doesn't have to be activated to report. Synchrony is famous for reporting new accounts within a day or two of approval before the cards reach the customers.

As I stated, it's been about 6 months, maybe more, since I received the card and they told me not to activate it. It has not reported to my credit at all. I am now getting pre approval offers from them again. Just my experience with them.

Re: Credit One Bank, change of mind after applying!

rmduhon — Wed, 26 Apr 2017 21:57:16 GMT

I understand that this is your experience. My point of view comes from having a card and having to deal with cancelling one. My fear for you is that even without activating the card the account is open and will show up on your reports later as a charge off/collection.

Re: Credit One Bank, change of mind after applying!

adifferentme — Wed, 26 Apr 2017 21:58:10 GMT

I read where ppl would receive a bill for the $75 AF before ever activating the card. Also read online that activating a card is only for security reasons and that the account is open after approval. I was approved for Walmart & Amazon and they both appeared on my credit report 2 days after being approved before I ever got a card.

Re: Credit One Bank, change of mind after applying!

Anonymous — Wed, 26 Apr 2017 22:00:48 GMT

@rmduhon wrote:
I understand that this is your experience. My point of view comes from having a card and having to deal with cancelling one. My fear for you is that even without activating the card the account is open and will show up on your reports later as a charge off/collection.

In that case I should have good reason for dispute/removal since it's been 6 months or more and I was advised by credit one just to not activate it. I called them and said I wanted to close it/didn't want it and he said since it wasn't activated it's not open and there's nothing to close/cancel just don't activate the card and everything will take care of itself. I'll continue to keep an eye on my credit though, as always.