Credit One Offer

[ecxpa]

Got a Credit One Visa offer in the mail today offering a CL up to 1500.  I have an old Credit One acct whic was one of my first rebuilding cards and I just keep it around to remind me where I started from.  I wouldn't mind having another 1.5K card but I don't want a 500 card.  Anybody else get this offer in the mail and if so what was your CL.?

[Involver]

Don't do it.

[Creditaddict]

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@ecxpa wrote:

Got a Credit One Visa offer in the mail today offering a CL up to 1500.  I have an old Credit One acct whic was one of my first rebuilding cards and I just keep it around to remind me where I started from.  I wouldn't mind having another 1.5K card but I don't want a 500 card.  Anybody else get this offer in the mail and if so what was your CL.?

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if you keep 1 around to remember where you have been then why would you go back with a 2nd one!!! are you kidding me.

[CreditMagic7]

Sound advice would be to dismiss it as if it never was there. Really!

[B335is]

I wouldnt do it just to keep the Credit One blemish off my CR. I wish I could dispute it off.

[MrCredit]

+1. Don't do it. The fees must be horrible.

[chalupaman]

Credit One sounds like a waste of time to me unless you're still rebuilding. I wouldn't bother even if they gave me a 10k limit cause there's no way I'd put up with their fees. Get something way better instead like a prime card and dump the Credit One card you already have ASAP.

[KJamesJR]

Dont do it. I got this same letter in the mail. It immediately found it's way in to my garbage. Correct me if I'm wrong but iirc, they charge a one time activation fee on top of the first years annual fee right up front. After the first year they break up you annual fee in to monthly charges of up to $8 depending on the card. Which could come out to an extra $96 dollars a year. If the card you're still holding on to is active, you may want to check the balance if you haven't in a while.

I wouldn't even rebuild with this card. They're right up there with first premier.

[Anonymous]

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@ecxpa wrote:

Got a Credit One Visa offer in the mail today offering a CL up to 1500.  I have an old Credit One acct whic was one of my first rebuilding cards and I just keep it around to remind me where I started from.  I wouldn't mind having another 1.5K card but I don't want a 500 card.  Anybody else get this offer in the mail and if so what was your CL.?

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Yes, don't do it bro. Take some time off and let those inquiries fall off, pay down those balances, and let AAoA grow. If you can just hold off the temptation of instant gratification, get a card with a $5-10k+ CL.

[ecxpa]

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@chalupaman wrote:

Credit One sounds like a waste of time to me unless you're still rebuilding. I wouldn't bother even if they gave me a 10k limit cause there's no way I'd put up with their fees. Get something way better instead like a prime card and dump the Credit One card you already have ASAP.

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just ripped up the offer.  Some improvement though when compared to my old card which evidently has a $96 AF as I get billed 8.00 a month,  and I do plan to cancel it; I have been paying a couple small items with the card just need to get them changed to a different card.  The new card had a $45 AF and no other fees which I think would be a good rebuilder card, APR 19.90.  I don't think they are much worse than a Cap 1 QS One. 

I do have numberous prime cards including Chase, Discover, USAA, Barclays, Wells Fargo, an array of Synchrony cards including Walmart and Sams Club store cards, just got the new Sams Club MC yesterday, waiting on the Walmart MC, (still have the old Discover), have Ebay and Ebates siggy.  Don't really need any more credit.   I'm well over 100K in credit lines with 7% utilization