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Credit One Bank - Edger to Close

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Regular Contributor

Credit One Bank - Edger to Close

I am very tempting to close this peice of crap card. Their business practice sucks as hell. If you want pay and get funds immediate, you pay $9.95. You want CLI? you pay $9.95? AF sucks too.

 

The customer service people are very rude and has no **bleep** patience, wow!

 

I'm on 4th statement and I really want to ditch that POS card, should I or wait?

Thoughs?

Message 1 of 17
16 REPLIES 16
Senior Contributor

Re: Credit One Bank - Edger to Close


@IrishGuy77 wrote:

I'm on 4th statement and I really want to ditch that POS card


Any product I don't like, I dump.  It doesn't matter the reason, if they tick you off that much then cut them loose, I would.  Just make sure to continue to monitor your acct. to make sure no AFs or any other charge sneaks back on there in the next few months or whenever the year ends with them.  GL!

"MY TAKE HOME PAY WON'T TAKE ME HOME"
Wayfair $8.5k
Message 2 of 17
Community Leader
Super Contributor

Re: Credit One Bank - Edger to Close

If you have Credit One, that generally means you can't get accepted by many other banks. What's your profile look like? Maybe you can try Merrick or Mission Bank. Regardless, I would wait until I have another card to replace them before closing.







Message 3 of 17
Valued Contributor

Re: Credit One Bank - Edger to Close


@Brian_Earl_Spilner wrote:

If you have Credit One, that generally means you can't get accepted by many other banks. What's your profile look like? Maybe you can try Merrick or Mission Bank. Regardless, I would wait until I have another card to replace them before closing.


This.

 

You can try get a card from a credit union, or some secured card from more reputable lenders, but you do need something on your file to build credit.

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Message 4 of 17
Regular Contributor

Re: Credit One Bank - Edger to Close

Dump it for a secured card if you can't get approved for a unsecured card with a grace period. MUCH cheaper in the end free if used correctly and graduated or closed when approved for a unsecured card. 

 

You will take a hit to your credit utlization closing it but it's much better in the end. 

 

The no grace period is one biggest jokes about CreditOne and the fact the annual fee is billed monthly and you have no choice to pay for it annually so you can never carry a zero balance on the card and always paying interest. 

 

 



Currently planning gardening until December 2021 when all HPs drop. Perhaps a bit extreme but want more history before applying again.
Message 5 of 17
Community Leader
Super Contributor

Re: Credit One Bank - Edger to Close


@credit-user-19 wrote:

Dump it for a secured card if you can't get approved for a unsecured card with a grace period. MUCH cheaper in the end free if used correctly. 

 

You will take a hit to your credit utlization closing it but it's much better in the end. 

 

The no grace period is one biggest jokes about CreditOne and the fact the annual fee is billed monthly and you have no choice to pay for it annually so you can never carry a zero balance on the card and always paying interest. 

 

 


You do realize that Credit One offers different terms dependant on a person's credit profile, right? You can get a 1% cashback card with no annual or monthly fees, with a 25 day grace period, and a lower interest rate than more popular banks. The last offer they sent me had a lower APR, by 2 points, than almost all of my cards.







Message 6 of 17
New Contributor

Re: Credit One Bank - Edger to Close

I closed mine so fast and it was the best move i made 6 mos ago, had that card less than 1 year, i ditched it and went with discover

Message 7 of 17
Regular Contributor

Re: Credit One Bank - Edger to Close


@Brian_Earl_Spilner wrote:

@credit-user-19 wrote:

Dump it for a secured card if you can't get approved for a unsecured card with a grace period. MUCH cheaper in the end free if used correctly. 

 

You will take a hit to your credit utlization closing it but it's much better in the end. 

 

The no grace period is one biggest jokes about CreditOne and the fact the annual fee is billed monthly and you have no choice to pay for it annually so you can never carry a zero balance on the card and always paying interest. 

 

 


You do realize that Credit One offers different terms dependant on a person's credit profile, right? You can get a 1% cashback card with no annual or monthly fees, with a 25 day grace period, and a lower interest rate than more popular banks. The last offer they sent me had a lower APR, by 2 points, than almost all of my cards.


I was under the impression they gave zero grace period to anybody regardless of credit. They've sent me some offers both with the zero grace period. 

 

I guess we'll see if I get one eventually with no grace period... 



Currently planning gardening until December 2021 when all HPs drop. Perhaps a bit extreme but want more history before applying again.
Message 8 of 17
Regular Contributor

Re: Credit One Bank - Edger to Close

My credit is very good and I am at 744 score and I have several cards total near $20K. Credit One was my 2nd car during rebuilding 5 mos ago. I was testing them out and realized its garbage. I'll wait for my next paycheck and I'lll pay off the balance and wait few days to update to ensure its $0 then I'll dump them.

Message 9 of 17
Community Leader
Super Contributor

Re: Credit One Bank - Edger to Close


@credit-user-19 wrote:

@Brian_Earl_Spilner wrote:

@credit-user-19 wrote:

Dump it for a secured card if you can't get approved for a unsecured card with a grace period. MUCH cheaper in the end free if used correctly. 

 

You will take a hit to your credit utlization closing it but it's much better in the end. 

 

The no grace period is one biggest jokes about CreditOne and the fact the annual fee is billed monthly and you have no choice to pay for it annually so you can never carry a zero balance on the card and always paying interest. 

 

 


You do realize that Credit One offers different terms dependant on a person's credit profile, right? You can get a 1% cashback card with no annual or monthly fees, with a 25 day grace period, and a lower interest rate than more popular banks. The last offer they sent me had a lower APR, by 2 points, than almost all of my cards.


I was under the impression they gave zero grace period to anybody regardless of credit. They've sent me some offers both with the zero grace period. 

 

I guess we'll see if I get one eventually with no grace period... 


Nope. They have grace periods. My last offer from them was $39 AF, no other fees, 25 day grace period, and 23.xx% APR. Have no idea if rushed payment, rushed credit, CLI fees would still apply.







Message 10 of 17
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