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Approved for CreditOne CL $400 then (next day) approved for HouseHold Bank Platinum $300 CL

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New Member

Approved for CreditOne CL $400 then (next day) approved for HouseHold Bank Platinum $300 CL

Anyone have experience with CreditOne? Since I got the HSBC card today I'm thinking about just calling them and telling them I don't want it anymore....

 

The only other cards I have is a Cap1 $500CL and a Macy's which doesn't report a CL but they don't ever let me exceed $100.

 

I'm hardly going to use the CreditOne card, would it be a good idea to keep it for utilization?

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TU: 620 (03/13)
Chase Auto Loan $20k (05/12)
Discover It $1500 (03/13) / Amazon GE $1000 (02/13) / Wal-Mart GE $800 (01/13) / Chevron GE $600 (12/12) / Old Navy GE $300 (10/12) / Best Buy Cap1 $500 (11/11) / HSBC Platinum (Cap1) $500 (08/11) / Capital One Journey $500 (02/11)
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Valued Contributor

Re: Approved for CreditOne CL $400 then (next day) approved for HouseHold Bank Platinum $300 CL

I'm pretty new to all of this, but from what I've been reading on myfico it seems like it's never a bad idea to leave an unused account open.  It increases your AAoA and UTL.

In My Wallet:
AMEX BCE, Citi Forward, Chase Freedom

In My Sockdrawer:
AMEX Clear, Citi Platinum Select, US Bank Platinum, J.Crew
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Contributor

Re: Approved for CreditOne CL $400 then (next day) approved for HouseHold Bank Platinum $300 CL

And the good news is, if you don't use it at least a bit, eventually they get around to closing it anyway. Whether you want that or not is up to you.

FICOS 2/2012 EQ: 763 TU: 761 EX: 746 (1/2012 EX)
Cards: Associated Bank Visa 9000, Paypal Mastercard 3000, Amazon Store card 1100, Barclays Apple Financing 2500, Cap One Rewards Mastercard 3000
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New Contributor

Re: Approved for CreditOne CL $400 then (next day) approved for HouseHold Bank Platinum $300 CL

I hate to admit it but I have CreditOne card and I have a 752 FICO.

 

I will close it next year before the annual fee.

 

 

The annual fee is currently at $75 for the first year, then $99 the next. Billed MONTHLY at $8.25

 

You have Capital One which is far better than CreditOne. You honestly don't need them. After year 1 you'll have to pay $8.25 a month. Pretty much impossible to leave the card "dormant"

 

ALSO, there is no grace period whatsoever. Don't bother paying in full because you will get a bill for all accrued interest.

 

It could just be talk, but a user on here was allegedly informed by a CSR that Macy's will start reporting your CR and high balance again. 

 

If you have a good history on all your current accounts, and don't have any unsettled items, then you could probably get some store cards. I don't know if you're building or re-building.

 

If you can set aside money for a secured card, it will help your debt/credit ratio. Try for a couple more store cards. You'll be at 750+ like me in no time Smiley Wink

TU FICO - 752 (8/12/11)
EX PLUS - 721 (8/9/11)
EQ FICO - 648 (2010)

(21 years old)
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