Credit One Bank Approval

Anonymous · ‎08-28-2017

I'm not sure if this is the correct place to post this, but I need help. I'm sorry if it isn't. I recently had to report my Capital One card lost and was waiting for it in the mail. The other day, I got a mail and saw "One" and the capital one logo and my brain just automatically thought Capital One. I open the mail and saw it was a pre-approval! I got really excited as it was my first one and I hve only been using secured cards. I looked at the letters, got excited and applied. That's when after I sent in the application and got approved for $500 was when i realized this wasn't Capital One! It was Credit One! And I did some research and found so many bad reviews for the card. I just got an email saying my application has been complete and my card is coming. Is there any way to just straight cancel or not accept the new card

Anonymous · ‎08-28-2017

@Anonymous wrote:
I'm not sure if this is the correct place to post this, but I need help. I'm sorry if it isn't. I recently had to report my Capital One card lost and was waiting for it in the mail. The other day, I got a mail and saw "One" and the capital one logo and my brain just automatically thought Capital One. I open the mail and saw it was a pre-approval! I got really excited as it was my first one and I hve only been using secured cards. I looked at the letters, got excited and applied. That's when after I sent in the application and got approved for $500 was when i realized this wasn't Capital One! It was Credit One! And I did some research and found so many bad reviews for the card. I just got an email saying my application has been complete and my card is coming. Is there any way to just straight cancel or not accept the new card

I canceled a Milestone card that I never activated. It was early on in my rebuild. I only got approved for a $300 limit and didn't theink the $79 (or whatever the amount) was annual fee was worth it. They canceled and I ended up not having to pay the fee. The account does in fact show up on my credit report as closed.

If this is your first unsecured approval, I'd go ahead and keep it. Credit One was my first card post BK. Stay on top of it, double check your payments are made, pay attention to their policies and abide by them all, and this card is really just fine for a starter card. Mine was up to $2450 by the time I canceled after having it two years. I outgrew them but they served a very important purpose for me very well.

AverageJoesCredit · ‎08-28-2017

Thats exactly what Credit 2 wants and unfortunately you fell for it. That logo and name should be ripped from the credit ledgers and forced to rename themselves as they prey on the innocent, maybe call themselves Predator One.

Even though youve got the hp, i believe you might be able to not activate it or call and cancel. Sorry for your misguidance, they are sneaky .

Anonymous · ‎08-28-2017

I have Credit One as well and so far I have had no issues. Dont get me wrong, I dont plan on keeping this card forever, but it has been serving its purpose so far. I was approved a little over a year ago with 500, they raised it within 2 months with no fee to 700, then at the 1 year mark to 950 which is where Im at now. No fees for CLI so far. I called just before the year hit to waive my annual fee, they said since it hadnt been charged yet they coudn't waive it but instead gave me all interest charges back from the previous year-- about 30 bucks. I just recently called as the annual fee is now in effect monthly, they also did a credit back and gave me the remainder of the year free. So not every story is horrifying, but if you make your payments on time, I dont think you will have a real issue with them; rather you will grow into better prime cards and move on. They really dont want to lose customers, you can tell by the way they will almost do anything to keep you. I asked if I could have the card fee free from now on, the rep sounded like I was stepping on her oxygen cord or something. I guess I was asking for a bit too much with that one!

Anonymous · ‎08-29-2017

I also started my road to recovery with Credit One. They charge a monthly fee of about $9. I called to cancel the card and told them it was because of the fee. They waived the fee for 6 months, then told me to call to waive it again.