Credit One Trick for better terms ;)

[TraumaMomm2]

Not sure if anyone knows this or not-- but I found a rather helpful trick for obtaining a Credit One card with better terms. I did the pre-qual thing on their site, but just couldn't wrap my head around all the fees and such, so I didn't pull the trigger. A while later and I get an email from them with "A Better Offer".... Instead of the absurd interest rate, horrible fees, and $350 limit, their new offer was 19% interest, a $500 limit, and only $45 annual fee!!!! Also comes with 1% back on gas purchases, free credit score and automatic credit increase reviews. Of course I said yes  

Just got the card today  

[Anonymous]

That is good news for people who do not want to Fork out the money for secured card type of card for a year or more. My Experience with credit one was positive. most will tell you to get rid of it as soon as your scores make it possible which is good advice but we all have to start somewhere. I skimmed over their site last month and I think that NASCAR cards zero fees unless I read it wrong

[NattyPButter]

There credit score is BS. Has my score at 609 while my Fico scores are all at 695 or a point or two more and my Fako scores are at 705. Other then that I have not had a problem with them and never even paid a dime in interest. When I use the the card (rarely now) I paid it off within a week. People kept saying you get charged interest the moment you make a purchase but that was never the case for me. I even did a cash advance and never got charged interest on that and the CA fee is waived the 1st year. Will cancel the card in Oct since the limit is small even though they gave me an auto CLI in the 1st month. Like the other poster said it's not a bad card if you don't want to hand up money for a secured card, but if you plan to keep the card for more then a year, carry a balance and pay for those CLI then it's a horrible card. 

[Anonymous]

Another trick, if they offer the cli for 19.95, ignore it. You'll eventually get it for free. Credit one has a horrific reputation, but really if you play the waiting game with them, they're no different than any other card. I never paid interest with them either. Their APR was lower than my QS1, and the annual fee is only $6 higher. Still a boring card, and has long been in the sock drawer, but if you do it right, they're not that thaaaat bad for starting out.

I think credit one trolls people. They throw these absurd terms out there and figure if you're willing to accept them, they own you. If you're smart about it they play nice. I was going to close before my annual fee hit in February, called them and they waived that fee. I've literally put $61 on this card in 15 months (all in 1st month), with 0 interest paid. Yet they still waived that fee.

[Samac]

Just curious why would you sock drawer a credit one card with an annual fee? How does it benefit you sitting there paying the fee?

[Anonymous]

I got the fee waived this year. When next February rolls around I'll see if they will waive it again, if not, I'll close it.

[Anonymous]

+1 For every well informed credit one user, there's 20 who are not, just like chase or amex.

[creditguy]

A $45 annual fee, 1% back on gas and a free fako credit score? Oh I see how any would totally jump on that. Sarcasm aside a credit one by any other terms is still a credit one, sorry but a $45 AF is still ridiculous. But hey if your happy then congrats!!!

[Anonymous]

I'd take credit1 over a secured card with an annual fee that never graduates. As subprime as they are, they report to the bureaus very quickly very consistently which is what you want.

There are better options out there I agree if you have a credit one I would be banging on that quick silver prequal every two weeks

[NattyPButter]

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@creditguy wrote:
A $45 annual fee, 1% back on gas and a free fako credit score? Oh I see how any would totally jump on that. Sarcasm aside a credit one by any other terms is still a credit one, sorry but a $45 AF is still ridiculous. But hey if your happy then congrats!!!

 

probably can get that annual fee waived or cut short each time you try to shut off card. So I see no big deal if someone can get in at that low annual fee since a lot of secured cards are sitting at the same annuel fee or a little less and make you put down a deposit. Regardless most ppl shut down their secured card in a year or two and you can do the same with the Credit One card and put that extra money into savings. Also most of the secured cards don't offer any rewards; though the Credit One card is 1% it's still something along with their crappy credit score. Don't forget the you can also not qualify for a lot of the secured cards out thier especially if you filed BK recently. So you can be sitting their watching your score drop with each application until you find out Credit One will accept you.