Pre-Approved from Credit One Bank?

[Anonymous]

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@Anonymouswrote:

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.

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Here is my tale of CreditONE despair... http://ficoforums.myfico.com/t5/Credit-Cards/28-Days-Later-A-CreditONE-Tale/td-p/5167721

[Anonymous]

Go to a credit union instead of them. They are a waste of time. I closed mine 2 weeks ago.

[Anonymous]

Thanks for all the help you guys, I will go ahead and try a low limit discover card or a credit union since that seems to be the overall consensus here. Glad I checked before I jumped head first into hell lol. I assume by stats you mean my scores? @AverageJoesCredit how do I post them? Or do you mean just explain an overview of my credit scores? I ordered a report here at the beginning of this month, would that be recent enough?

[Anonymous]

You stated that you had an approval from Regions, that is a reputable bank. I would accept that preapproval.

[Anonymous]

Oh sorry, forgot to clarify on that one. It's a pre-qualification, not a pre-approval. Would that still be the same thing or different? I feel like its just a way for unqualified people to put more hard inquiries on their account if they apply lol.

[Anonymous]

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@Anonymouswrote:

Oh sorry, forgot to clarify on that one. It's a pre-qualification, not a pre-approval. Would that still be the same thing or different? I feel like its just a way for unqualified people to put more hard inquiries on their account if they apply lol.

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https://www.experian.com/blogs/ask-experian/pre-approved-vs-pre-qualified-whats-the-difference/?ty=ccall&pc=crm_exp_0&cc=emm_f_m_act_48768_mktfttFreeImprove_20180220_x_101

[Melinda0922]

I have Credit One and I love them. I received my first credit line increase from them awhile back. I'm due for another one soon.

[Anonymous]

One of the most bizarre experiences in the entire credit-card game has to be when, having just obtained a Visa Signature card with a $10K line the previous month, with a mix of credit-union, bank and store cards totaling some $50,000 in unsecured revolving credit, and with two out of three of your major CRA scores hovering close to 700, you keep on getting preapproved offers from junk issuers like Credit One.

And yes, this is happening to me. Right now. In fact, I got just such an offer in my paper mail yesterday.

[Anonymous]

RUN!!!!!!!!! Don’t even THINK about going with them!! PLEASE!!! We are all begging you!!

[Anonymous]

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@Anonymouswrote:

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.

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Please don't go with Credit One Bank an AF plus rotten customer service you can do much better.