Credit One Bank...seriously?!!

[joltdude]

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@mrldp40 wrote:

i would close my credit one card as well,but its 8 months old. discover secured is 2 months and navy is brand new.

so without them i have no major credit card history.   i do have overstock for 14 months too

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I'd close it now, but if you want a little bit of a more "sure thing" close it at least in the 11th month.  Im also presuming you have an annual fee/monthly fee... 

It will stay on your CR for 7 years...

-J

[joltdude]

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@Anonymous wrote:
Thank you everybody!! My only known FICO8 is with TU at 603. VS3.0 scores are all roughly around 595.

I have the capital one quicksilver $1500 limit and Platinum $1000 limit.

I don't need credit one anymore! So I should just pay off and close?? Thank you!!!

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Yes

Close it already....

Do keep around your account info for a month or so... want to make sure that final payment is applied and they dont play games with you....

Shred the card, and the baggage. 

=)

[Anonymous]

In the words of Elsa from 'Frozen' **LET IT GO!!! LET IT GO!!!** lol

I had the Credit One Visa from August 2016 until I closed it last month. My CL initially was $300 but after paying the first bill with them they gave me one (1) free increase which brought the limit to $450. I had no problems with the card, or customer service, who I spoke to only twice. It wasn't so bad, however, the huge deal-breaker was this card had no grace period, so I had to stay on top of my game of keeping my payments current and on-time. I called them to close my account and of course, the CSRs tried to pitch different offers at me, which I firmly and flatly refused, and just to make sure, I sent them a letter stating that I wanted the account CLOSED and I WAS NOT interested in any of their other offers or products, and that I wanted it listed on my credit reports "account closed per customer request." I received a letter from them today stating that my account was "closed at consumer's request with a zero balance." I've since then received a new card from a different issuer with a CL of $1,000. I have no intentions of ever opening an account with them again.

[mrldp40]

What offers did they offer to get u to stay?

[Anonymous]

Greetings from the Windy City of Chicago 😊 I'm a newbie here on the boards, and since everyone is sharing experiences with Credit One, who I call Capital One's evil twin because of the logo similarities *cue Twilight Zone music*

I had this card from August 2016 until April 19 of this year as I just recently closed this account. I really didn't have too much trouble with them: I paid my bill using their online app using the standard payment, and used it as I needed it. The credit line initially given me was $300, but because of a $75 fee, it was reduced to $275. I paid the $75 ASAP, and after about a month, they gave me a free increase of $150, bringing the limit to $450. I really had no intention if using the card at all, but an emergent situation happened where my daughter and my grandson were both injured from a reckless driver, and had to be hospitalized. Going back and firth to the hospital I was using Uber, which can add up pretty quickly as well as other unexpected situations that snowballed right along with my daughter's accident (she and my grandson are fine now thank God) Unfortunately, this card did not come with a grace period, so i had to stay on top of my payments, which I did. Finally, I just got tired of this card last month, and paid it off and called their customer service to close my account. The CS reps were trying to fast pitch products to me to keep from closing the account, but I held firm and said NO. And just to err on the side of caution, I sent them a letter stating that I wanted the account "closed at customer's request" and I received a letter from them stating that they did indeed close it.

This was the first unsecured card I got, and it did help my credit to improve, because shortly after I received the Credit One card, I got an invitation by mail for the Merrick Visa Double Your Limit card with a $700 limit that is due to double on May 8. Also I was approved for my union's SEIU Platinum Visa with a $1,000 limit.

All I can say is, use the card for what you need, keep your bill paid, and though its been said it's not a good idea to close a card, being that Credit One has no grace period, let it go and hopefully other better offers will come to you. Good luck everybody 😊

[Anonymous]

They offered to waive the annual fee, and was trying to offer me other products and services they had, like credit protection, getting a new card design, blah blah blah. I told them firmly no I was not interested, just CLOSE MY ACCOUNT. Period.

[Anonymous]

Sorry for the double post, I wasn't sure if the first one made it on here smh lol

[MrDisco99]

I heard they bill interest on transactions in the current statement period.  Is that true?

I got their pre-approved letters in the mail for a while and threw them away after looking at their ridiculous fee structure.  I get it if you have recovering credit, but surely there are better options out there?

[HeavenOhio]

Yeah, people here have said that interest kicks in immediately. And if you don't use the card at all, you're still paying interest on the monthly fee.

The bottom line is to explore other options and only go with Credit One if those options have been exhausted.

[Anonymous]

HeavenOhio when I had the Credit One card I didn't get hit with interest fees (unless they were lurking in the shadows somewhere lol) but I closed the card anyway because it didn't have a grace period, and, well, quite frankly I was tired of it. I remember when they were First National Bank of Marin many moons ago and I closed my account with them. Who knew they would try and be a clone of Capital One, even to stoop so low as to copy their logo....tsk tsk tsk shame on you Credit One....