Credit One Bank

[jamesac2]

My wife has a Credit One Bank card and has a 0 Balance yet, they are charging her a $ 8.00 fee each month. Her limit is $500.00 and I am debating to close it rather then pay them this fee. Any Thoughts. Thanks

[Creditaddict]

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@jamesac2 wrote:

My wife has a Credit One Bank card and has a 0 Balance yet, they are charging her a $ 8.00 fee each month. Her limit is $500.00 and I am debating to close it rather then pay them this fee. Any Thoughts. Thanks

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They can be a great stepping stone... Has she established any other credit?

[yudeology101]

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@Creditaddict wrote:

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@jamesac2 wrote:

My wife has a Credit One Bank card and has a 0 Balance yet, they are charging her a $ 8.00 fee each month. Her limit is $500.00 and I am debating to close it rather then pay them this fee. Any Thoughts. Thanks

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They can be a great stepping stone... Has she established any other credit?

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+1.   If the card is being used for rebuilding purposes, then good.  the monthly fee + AF can add up in the long run, so i would suggest to close the card.

[gdale6]

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@jamesac2 wrote:

My wife has a Credit One Bank card and has a 0 Balance yet, they are charging her a $ 8.00 fee each month. Her limit is $500.00 and I am debating to close it rather then pay them this fee. Any Thoughts. Thanks

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I would close the card if she has other CCs. BTW Credit One Bank is owned by a CA/JDB

[fot1]

The $8 fee is probably the annual fee  broken up itno monthly payment.. that is how it is with mine.. As others have said it is a rebiulder card.. at some point you may want to close it and move on to better cards..  I have kept mine, because out of my first 4 rebuilding accounts that  is by far the best card and I want to keep one of the oldest accounts open.