@Cjaysmom wrote:So I called Credit One. This was a legitimate offer of a CLI. I asked why is it they've pre-qualified me for a $1500 MC and yet I have to pay for a $250 CLI. Answer: That was MC, yours is VISA. (Didn't feel like arguing, let it go....)
Then he checked into an increase on my VISA....declined (reason: I was approved for a CLI recently ---6 months ago ---).
I'm only keeping this card for age purposes. I refuse to use it and pay the $8.95 monthly fee. Ugh!!!
You can close the account and keep the age of the account on your CR for up to 10 years. Credit One is a sub-prime predatory lender and the sooner you can afford to boot them from your portfolio the better off your will be.
@Medic981 wrote:
@Cjaysmom wrote:So I called Credit One. This was a legitimate offer of a CLI. I asked why is it they've pre-qualified me for a $1500 MC and yet I have to pay for a $250 CLI. Answer: That was MC, yours is VISA. (Didn't feel like arguing, let it go....)
Then he checked into an increase on my VISA....declined (reason: I was approved for a CLI recently ---6 months ago ---).
I'm only keeping this card for age purposes. I refuse to use it and pay the $8.95 monthly fee. Ugh!!!
You can close the account and keep the age of the account on your CR for up to 10 years. Credit One is a sub-prime predatory lender and the sooner you can afford to boot them from your portfolio the better off your will be.
So, I just closed Credit One with a $0 balance. The account rep tried to get me to keep it open with an offer of no annual fees or charges as long as I kept it open. However, I told him that I wanted it closed. He said that it was closed with $0 balance. Should I trust that it is truly closed? Should they send me paperwork?
@Cjaysmom wrote:
@Medic981 wrote:
@Cjaysmom wrote:So I called Credit One. This was a legitimate offer of a CLI. I asked why is it they've pre-qualified me for a $1500 MC and yet I have to pay for a $250 CLI. Answer: That was MC, yours is VISA. (Didn't feel like arguing, let it go....)
Then he checked into an increase on my VISA....declined (reason: I was approved for a CLI recently ---6 months ago ---).
I'm only keeping this card for age purposes. I refuse to use it and pay the $8.95 monthly fee. Ugh!!!
You can close the account and keep the age of the account on your CR for up to 10 years. Credit One is a sub-prime predatory lender and the sooner you can afford to boot them from your portfolio the better off your will be.
So, I just closed Credit One with a $0 balance. The account rep tried to get me to keep it open with an offer of no annual fees or charges as long as I kept it open. However, I told him that I wanted it closed. He said that it was closed with $0 balance. Should I trust that it is truly closed? Should they send me paperwork?
Good for you, Congrats! You will probably only receive a final statement - not actual paperwork. But I would think your online account would show a status change within the next 24-48hrs. You can also call back in a day or two to confirm with a different rep. Keep an eye on it though -- since they do charge a monthly fee - make sure that $0 balance stays at $0 and they don't try to charge a prorated fee or something. Watch it until it updates on your credit report as closed with a $0 balance.
Good for you!!! Congrats!!!
@thornback wrote:
@Cjaysmom wrote:
@Medic981 wrote:
@Cjaysmom wrote:So I called Credit One. This was a legitimate offer of a CLI. I asked why is it they've pre-qualified me for a $1500 MC and yet I have to pay for a $250 CLI. Answer: That was MC, yours is VISA. (Didn't feel like arguing, let it go....)
Then he checked into an increase on my VISA....declined (reason: I was approved for a CLI recently ---6 months ago ---).
I'm only keeping this card for age purposes. I refuse to use it and pay the $8.95 monthly fee. Ugh!!!
You can close the account and keep the age of the account on your CR for up to 10 years. Credit One is a sub-prime predatory lender and the sooner you can afford to boot them from your portfolio the better off your will be.
So, I just closed Credit One with a $0 balance. The account rep tried to get me to keep it open with an offer of no annual fees or charges as long as I kept it open. However, I told him that I wanted it closed. He said that it was closed with $0 balance. Should I trust that it is truly closed? Should they send me paperwork?
Good for you, Congrats! You will probably only receive a final statement - not actual paperwork. But I would think your online account would show a status change within the next 24-48hrs. You can also call back in a day or two to confirm with a different rep. Keep an eye on it though -- since they do charge a monthly fee - make sure that $0 balance stays at $0 and they don't try to charge a prorated fee or something. Watch it until it updates on your credit report as closed with a $0 balance.
Thank you all for the advice. Before closing, I had the first rep change me from paperless billing to paper billing. Then, I closed my account. I am pretty sure that it won't show it closed until around December 8th. Now, even though I'm gardening, I do need to replace the CL$$ that I lost. I get anxiety when I apply for a card. I think I'll just garden and request for a CLI increase in January.
@Anonymous wrote:
🤔 drag this relationship out back, and put it out of it's misery.... 🤔
Hi All,
This is a follow up post. I decided to go ahead and apply for a Credit Card to replace Credit One. I felt that I should do this before there would be an obvious decrease in my fico score due to closing this account. So, I went on Discovers website and was pre-approved for their cashback cards. I applied for the one with the most cash back at 16.99% . I was approved for (I started shaking when I saw this) a $12,000 CL. So, I gave up $950 and got $12,000 without having to cash Credit One's check (a legitimate offer) of $250 to increase my CL to $1,200.
Again thanks to all who encouraged me to close my Credit One account. Without your advice, I would still have this card on my report for only $950 CL.
Happy Thanksgiving to you all.....Now back to gardening until 2020!!
