Credit One Bank Questions?

[Anonymous]

pattycake - do you know how long your brother has had his card before getting the AUTO CLI?

[pattycake]

I don't, but at least a year or two.  He was surprised, but his scores are probably in the 700 range by now. 

[Anonymous]

OK I went on an app spree as I was starting to read on this site and trying to rebuild. I wasted alot of apps on prime cards before I applied for Credit One. I was going to just garden this one and try for a CLI every 6 months but decided to try for 1 more card so I apped for Household Bank and got approved for their Platinum Mastercard. It looks to be similar in that it had a $39 sign up fee instead of $69 but its annual fee is $74 instead of $69. SO it will be similar but I figured while I went on an app spree if I could add one more card for one more inquiry it would prob be worth it to be able to garden two and help my AAoA later and lucked up and got approved. Card should be here in 10-14 days so when I get it I will garden these two and app for CLI every 6 months and reevaluate about this time next year with 1 year good payment history on each and by then our auto loan should be reporting and we should have about 14 months positive history on it and hopefully our scores will be in the high 600's by then.

[BungalowMo]

I have a Credit One card too.  My initial limit was $350.  I had just happened tobe on the ph one day with a csr & she told me I was eligible for a CLI...do I want it?  You Bet!  $100.  Now, every 6 mos I ask for another increase & get it. 

If you're considering switching banks...go to wherever...let them know your main goals.  Tell them you need free bill pay, also ask what are the criteria for a CC through them!  You may have to start with a secured card.  I have wachovia.  I had low 6's when I apped online for a card...I got 7k!   

I cried!  I couldn't believe that I got a card with that kind of limit, NO FEES and my average int rate has been about 9%.

Find yourself a good bank to stick with for the long haul.

Also....right now I have ao bal on my Cr One...in fact, my balance is a  -$20.00  Yes...negative.  That way if I don't use the card, the monthly fee is already covered.  They tripped my up a few mos ago.  I knew I was PIF, didn't use the card all month...then next statement had something like a $35.00 balance due to late fees!  I had totally forgotten about the $6.50 monthly fee!

I called, spoke with a manager (csr was clueless...said I had to pay) & I got the late fee removed.  Now...my backside is covered!

This is a good card to start with, but after maybe 6 mos...try with a good reputable bank in your town, or better yet...a credit union.  Better cards, they will know you and their fees won't kill ya!!

[Anonymous]

Thanks for the advice. Where I live there are NO national or even large chaing banks. THe largest chain serves all around the state. But I am switching to one that has free billpay and lots of checking/savings/and lending options. They seemed friendly when I talked to them so on the next payday we are switching banks and I will start using their billpay to pay credit one and all my other bills for that matter. The bank I am with now gave me a free student checking when I first moved here so I bit but they are a limited bank only two or three savings options and do virtually no lending. I will just wait til the sixth month and chase that CLI. Until then on to using and PIF to hope I hit the magic usage payment ratio for max CLI.

[Karatz]

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@Anonymous wrote:
Thanks for the advice. Where I live there are NO national or even large chaing banks. THe largest chain serves all around the state. But I am switching to one that has free billpay and lots of checking/savings/and lending options. They seemed friendly when I talked to them so on the next payday we are switching banks and I will start using their billpay to pay credit one and all my other bills for that matter. The bank I am with now gave me a free student checking when I first moved here so I bit but they are a limited bank only two or three savings options and do virtually no lending. I will just wait til the sixth month and chase that CLI. Until then on to using and PIF to hope I hit the magic usage payment ratio for max CLI.

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You might consider going over to one of those big credit unions everyone here talks about. Get yourself in for $5-25 and maybe even put a little bit of savings in it. A year from now your scores may well be in the eligible range and having a year history with the credit union may even help you get a card.