Best way to manage CreditOne card?

[vertekal]

I was approved for a CreditOne Visa with a $300 limit. What's the best way to use it? Charge one small thing a month and pay it off immediately? Use it constantly and pay it off at the end of the month or multiple times a month? The interest rate sucks and I don't want to pay any more than I have to.

And yes I know this card sucks. Its the only non secured card I could get. I also have a secured Capital One card on the way, as soon as I make the deposit. 

[Anonymous]

Keep in mind that there is no grace period whatsoever on a Credit One card, so I would suggest paying off stuff as soon as it posts and then paying again when the interest hits at statement.  The important thing here is getting your paid as agreed and low utilization going so you can grow beyond Credit One and get something that won't charge you out the wazoo.

I won't say the card sucks - it DOES have its place - but the sooner you outgrow it, the better for your wallet

[Anonymous]

What i did was pay my AF and let it sit. I think i have swiped it one time and only because i did not have my Freedom on me at the moment. Got 3 100 Cli's for the first 3 months. I SD'd it. I would not use it unless it was my only card. Also, right whn you get the card, call and say you want to cancel. They will cut the AF in half so you don't.

[ScoreOrBeScored]

Close it

[core]

Push a small payment from your bank to give yourself a credit balance before making your small purchase and you won't have to pay any interest.  This also saves you the trouble of having to pay that 2nd statement.

[Anonymous]

The best way to manage it is to close it and forget about it lol

[vertekal]

I'll close it once I can get a better card.

Thank you everyone else for the helpful info!

[Anonymous]

I would just charge gas or groceries on it once and then pay it right away, rinse and repeat. Good luck!

[Imperfectfuture]

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@vertekal wrote:

I'll close it once I can get a better card.

Thank you everyone else for the helpful info!

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Have you tried a secured card from a credit union?  I skipped credit one type cards for this route.  Since you already paid the annual fee, if you get a secured card, just sock drawer the credit one card.  JMHO.

[Anonymous]

I agree with those who say to close it but I would probably fart on it first.