topic Re: Second Card from Credit One. in Rebuilding Your Credit

Second Card from Credit One.

Nikita2008 — Mon, 10 May 2021 02:52:44 GMT

I currently have a Credit One card that I have had for exactly a year ($400 limit) . My history with them is good , no lates. I've been at a 0 balance for a few months, I rarely use it because of the no grace period thing. I actually have a small credit balance because of rewards that posted after I paid my bill. The $99 annual fee is coming up. I was thinking about swallowing the fee for one more year because I just closed a First Premeir Card that was far worse, $49 annual fee, & $14.50 monthly fee, 36 % APR .Don't want to close them all at once.

I logged into Credit One, and it said that I was preapproved for a new card with a $1000 limit, with a slightly lower rate, $39 fee , and a grace period. In all honesty, I don't want or need another card right now.

I got some decent cards recently ( past month or so) NFCU Cash Rewards 15k, Discover Cashback 9k, Amex Blue Cash 2k. So the plan was to garden for 6-12 months and start working on my goal Jet Blue Card.

That said I don't want another hard pull ( I got 2 on Experian for Amex and Discover, and 1 on TU for NFCU ), nor do I want another new account to report. Anyone have any luck getting Credit One to convert the terms on existing cards?

Re: Second Card from Credit One.

Anonymous — Mon, 10 May 2021 03:43:49 GMT

You're in with Navy, Amex, and Discover. Not only would I not take this new Credit One card, I'd close the other before the AF hits and never look back. Your current good cards and their limits mean you're beyond the need for garbage subprime cards.

Re: Second Card from Credit One.

Brian_Earl_Spilner — Mon, 10 May 2021 04:59:44 GMT

@Anonymous wrote:
You're in with Navy, Amex, and Discover. Not only would I not take this new Credit One card, I'd close the other before the AF hits and never look back. Your current good cards and their limits mean you're beyond the need for garbage subprime cards.

Ditto

Re: Second Card from Credit One.

OmarGB9 — Mon, 10 May 2021 05:10:58 GMT

@Brian_Earl_Spilner wrote:
@Anonymous wrote:
You're in with Navy, Amex, and Discover. Not only would I not take this new Credit One card, I'd close the other before the AF hits and never look back. Your current good cards and their limits mean you're beyond the need for garbage subprime cards.
Ditto

Double Ditto

Re: Second Card from Credit One.

Brian_Earl_Spilner — Mon, 10 May 2021 05:58:48 GMT

@OmarGB9 wrote:
@Brian_Earl_Spilner wrote:
@Anonymous wrote:
You're in with Navy, Amex, and Discover. Not only would I not take this new Credit One card, I'd close the other before the AF hits and never look back. Your current good cards and their limits mean you're beyond the need for garbage subprime cards.
Ditto
Double Ditto

Tritto?

Re: Second Card from Credit One.

8in2years — Mon, 10 May 2021 07:27:25 GMT

triple ditto

Re: Second Card from Credit One.

Papa_Bear — Mon, 10 May 2021 11:57:20 GMT

Speaking as someone about to cancel their Credit One, you can probably kiss them goodbye and work on the better relationships you've started. I can't really say that they have great or even good growth potential so your worst card is probably way better then whatever they can offer you. Unless you just really love them that much.

Re: Second Card from Credit One.

Nikita2008 — Mon, 10 May 2021 12:35:28 GMT

@Papa_Bear wrote:
Speaking as someone about to cancel their Credit One, you can probably kiss them goodbye and work on the better relationships you've started. I can't really say that they have great or even good growth potential so your worst card is probably way better then whatever they can offer you. Unless you just really love them that much.

BertNo love at all. I don't even use the card lol. I thought it was bad to close everything all at once.

Re: Second Card from Credit One.

Nikita2008 — Mon, 10 May 2021 12:40:55 GMT

@Anonymous wrote:
You're in with Navy, Amex, and Discover. Not only would I not take this new Credit One card, I'd close the other before the AF hits and never look back. Your current good cards and their limits mean you're beyond the need for garbage subprime cards.

Is it not bad to close them all at once? I parted with First Premeir last week. I have to say that felt good.

Re: Second Card from Credit One.

Anonymous — Mon, 10 May 2021 14:12:14 GMT

I see no issue with it. It'll say "closed by consumer" and I think any good lender seeing it will understand completely.

Re: Second Card from Credit One.

nwa479 — Tue, 11 May 2021 03:52:03 GMT

You have several good cards. I have the $39 annual fee card for Credit One but will be closing it soon. They do offer a card with no AF but not sure how often they'll PC from the AF card to a no AF.

You can call to cancel and you'll be referred to their specialist who will offer to cut part or all of the AF. Rather than take a hard pull for the 2nd card you could see if they offer you a PC when you go to cancel the first card. Would be a good experiment but you really don't need it with the other cards you have.

Ive heard their top credit line is about $2500.

Re: Second Card from Credit One.

8in2years — Tue, 11 May 2021 05:09:47 GMT

Don't apply for the second credit one card. Instead call them and see if they can drop the upcoming annual fee if they want to keep you as a customer. If they decline, then cancel the credit one card you currently have with them. The new cards you have will report and you scores will continue to increase as you keep your overall monthy utilization between 3-7%. Just my 2 cents.

Re: Second Card from Credit One.

Anonymous — Tue, 11 May 2021 17:10:46 GMT

If Satan used credit cards, they would be with Credit One Bank. Undoubtedly the worst card(s), worst fees, worst customer service possible. GOOD LUCK getting them to close the card also ... 😂😂😂 They'll tell you it's closed, but it won't be. They'll tell you the annual fee is waived, but it won't be. Absolutely dreadful company. Just keep up with your good cards and do whatever you can to get those cards closed. Be ready for multiple phone calls.

Re: Second Card from Credit One.

Nikita2008 — Tue, 11 May 2021 22:24:50 GMT

@8in2years wrote:
Don't apply for the second credit one card. Instead call them and see if they can drop the upcoming annual fee if they want to keep you as a customer. If they decline, then cancel the credit one card you currently have with them. The new cards you have will report and you scores will continue to increase as you keep your overall monthy utilization between 3-7%. Just my 2 cents.

I never had much intention on opening the second card. I don't even use the one I have. I was more wondering what success others have had with a PC on existing cards with them. That's pretty much the only way I'd keep it.

Re: Second Card from Credit One.

OmarGB9 — Tue, 11 May 2021 22:43:07 GMT

@Nikita2008 wrote:
@8in2years wrote:
Don't apply for the second credit one card. Instead call them and see if they can drop the upcoming annual fee if they want to keep you as a customer. If they decline, then cancel the credit one card you currently have with them. The new cards you have will report and you scores will continue to increase as you keep your overall monthy utilization between 3-7%. Just my 2 cents.
I never had much intention on opening the second card. I don't even use the one I have. I was more wondering what success others have had with a PC on existing cards with them. That's pretty much the only way I'd keep it.

I don't think I've heard of any success stories from Credit One PCing a card.