Here's my story:
I've had my Credit One CC for far too long. Honestly i didn't really get into the credit game until last year and i wasn't aware how bad Credit One actually was. I got myself into trouble back in 08 during the financial crisis, so i closed ALL my accounts, cut up my cards, and decided i never needed a credit card. I owned my first house at 23, had no car payments, and just swore cards off. I quickly realized a few years later when i tried to rent a car, that having a CC was a necessity. So, my credit was damaged from a few items and i stupidly went after Credit One in 2012. They gave me $750 i believe, and was given a CLI every 3-6 months with paying them something like $20 each time. Again, i didn't know any better and had too many collections to get approved for anything else. During the 4 years of no credit cards I just didn't care about my credit because i already had a mortgage and paid for everything in cash.
A year later, after opening the Credit One i was approved at $6700 for a Barclays Apple card which i used to purchase my 2013 MacBook Air. I had the cash in hand, but used the 0% interest on the card, to pay it off in three months instead. Again, not being smart or knowing anything about the credit game, i kept the Credit One card open. Paying their dumb monthly AF and continuing to pay their fees to raise my CL to their max of $2500.
The card has had a $0 balance for a while, and when i went after, and was approved for the CSP last year, i called Credit One to close the account however they offered me a retention offer of $0 AF until December. I decided to keep it open because it's my oldest open card, and to utilize the additional $2.5k util padding. I recently was approved for the last card on my "goal list" until i'm back under 5/24 in 2021, and my $0 AF with Credit One expired so i called again to close the account. They didn't flinch, didn't try to keep me, didn't offer any retention offers, simply just read their lines to me and closed my account. My experian score in their system is showing 802, so i think they realized i'm no longer in their demographic and just wanted me off the phone asap.
So, they're out of my life for good 
Here's to Credit One for allowing me to rebuild, but to good riddance to them and all the money i wasted on them!
Monthly? Fee? Did I read that correctly?
That's insane, glad you got rid of it and have better options now
That's insane, glad you got rid of it and have better options now
@Nomad3 wrote:
Monthly? Fee? Did I read that correctly?
That's insane, glad you got rid of it and have better options now
Credit One charges interest on day 1, with no grace period. They also charge a "fee" to increase your CL when they send you the offer to do so.
The AF on the card was $99, however they didn't charge a lump sum once per year they charged it to my card at $8.25 monthly.
This and more, are all reasons for ANYONE to stay away from them.
Nice! Credit One served it purpose.
Congratulations on your closure!
Good riddance, even their logo is a Cap1 imposter...good decision
I went through a similar experience My Fault, and am sooo glad I'm free of Credit One Horror! Like you I did the fee for credit increase when I didn't know better. The annual fee and extra fees pissed me off too. I truly wish there was a way to inform struggling American families out there of which cards to stay farrrr away from.
I also have a problem with Barclays because they sold my account to a bank the Dakota's...MERCURY CARD SUCKS and I am just waiting for them to close the account due to inactivity.
I closed the Credit One account which impacted my credit score dramatically for a few months.
