Pre-Approved from Credit One Bank?

[Anonymous]

I got a letter in the mail a week ago about being pre-approved for a card from Credit One Bank. How seriously should I take this? Are they a good company? I have been looking to build my credit due to lack of history and revolving accounts. I got one from Regions as well and they are who I bank with, would Regions be a better option? Thanks.

[Anonymous]

Almost anything else is better. Stay away from them if you can. 

You can go with Regions if you received a solid preapproval or you can try cap1 or discover pre-qualify tool. 

[Anonymous]

Of course Region is a more reputable bank than Credit One. Credit One charges high fees. Read the terms on both preapproval, you should be able to see the difference.

[Anonymous]

Definitely take a closer look at the Regions offer. IMHO you'd even be better off going with a secured card than the Credit One. Only reason I haven't gotten rid of mine yet is because when I called to cancel after 6 months they refunded my annual fee, refunded all the interest I paid and increased my credit line. But I'm definitely canceling before the anniversary date.

[AverageJoesCredit]

If you have other options, do not go for Credit One. If you need options, you can always post your current stats and plenty of people here can give you good solid options that do not include Credit One.

[ShatteredK]

I received a pre approval mail from them too. Almost thought it was Capital One until I had to recheck who sent it. Like many others have said, there are better choices out there. Credit One is just trying to pull you in and charge ridiculous fees by being sneaky.

[MrDisco99]

[sueblue34]

Do regions.

Credit one is when you don’t have better options

[Anonymous]

Run away.  You would be better off going secured card with Discover, BoA, or Cap One.

[Anonymous]

I got a letter in the mail a week ago about being pre-approved for a card from Credit One Bank. How seriously should I take this?

Not seriously.

Are they a good company?

No.

I got one from Regions as well and they are who I bank with, would Regions be a better option?

Always a better option than Credit One.

I have been looking to build my credit due to lack of history and revolving accounts.

If you are looking to build up a credit history, there are a lot of options out there where you don't have to pay a hefty fee, start paying interest as soon as you make a purchase, or "enjoying" the lousy service.

You can start with the bank you currently have a banking relationship with, or a local credit union. Sometimes you may also be approved by Discover with a relatively low limit when you don't have a credit history. Most of these options you don't have to pay an annual fee. If none of these work out, consider a secured card.