I don't believe I've heard of that, though they DO sometimes offer cards with a grace period from the beginning, me being one example. I keep getting targeted offers with a 24 day grace period (and if I'm not mistaken, lower fees maybe [$39]?).
No upgrades for them. Understand that Credit One targets a very specific market group of consumers, and these consumers for better or worse are a high risk on paper. Credit One is a good stepping stone to get yourself away into a more prime status where they offer stuff like grace periods are mainstream banks and then quickly close Credit One. With the annual fee billed monthly, low limits, high APR, etc, I wouldn't;t keep them around any longer than I had to
DW’s Credit One card has a grace period, but it did from the beginning. She called to close it before the first year was up to avoid paying the AF, and they offered to waive it, so she left it open for now. We got this card for her Becca use she had no credit at all, and we didn’t didn’t know what kind of lender they were at the time. Call and tell them you want to close it and maybe they’ll do it. Just be prepared to close it if they don’t, if that’s what you want to do.
I reluctantly called to cancel the card because of the $39 annual fee. Interest rate is 15.99 but my limit was $1850 and I didn't want to really cancel the card but I decided no annual fees for me. The converted me to a Platinum Rewards card with no annual fee. I was getting the annual fee spread out monthly which was very annoying and frustrating. The initial CSR told me she couldn't change it but she elevated it to someone to cancel (not sure they even have a retention department) and she said she can convert it and I agreed to keep it without an annual fee. I got no break on the interest rate and my limit remained the same. As soon as it was done, she notified me I was prequalified for their AMEX....at $39 fee. Took her a few seconds before she chuckled that she doesn't know if that is something I would be interested in securing.
For now I keep the card.
When I had the annual I carried $0 balance but the monthly $3.25 was so annoying and i could never have a clear month. I asked to pay for the year and they would not do it. I could not even overpay the amount from the website but I was able to do a bill pay from my bank and kept the poitive balance from which they deducted every month.
@bustout wrote:I reluctantly called to cancel the card because of the $39 annual fee. Interest rate is 15.99 but my limit was $1850 and I didn't want to really cancel the card but I decided no annual fees for me. The converted me to a Platinum Rewards card with no annual fee. I was getting the annual fee spread out monthly which was very annoying and frustrating. The initial CSR told me she couldn't change it but she elevated it to someone to cancel (not sure they even have a retention department) and she said she can convert it and I agreed to keep it without an annual fee. I got no break on the interest rate and my limit remained the same. As soon as it was done, she notified me I was prequalified for their AMEX....at $39 fee. Took her a few seconds before she chuckled that she doesn't know if that is something I would be interested in securing.
For now I keep the card.
When I had the annual I carried $0 balance but the monthly $3.25 was so annoying and i could never have a clear month. I asked to pay for the year and they would not do it. I could not even overpay the amount from the website but I was able to do a bill pay from my bank and kept the poitive balance from which they deducted every month.
What you discovered is what is quickly becoming policy with Credit One:
They NEED your business...and faced with the prospect of losing it, they will often give you a better offer and/or card should you call to cancel.
And if they don't, you drop them like a hot potato...simple as that.
