Credit One Offers

[SSR]

I have a credit one card with a low $1000 limit but every time I login they have two card offers for me at $1000 each. Has anyone ever asked Credit One to just combine those cards into one with all 3 credit limit offers combined on that card? Makes no since to me to keep offering $1000 limits instead of just giving me a credit increase. THX!

[Brian_Earl_Spilner]

Depending on your credit, they could give you 3 cards with 3 annual fees instead of combining them into 1 card with 1 fee. 

[Scottisthename]

Unfortunately CreditOne will not combine accounts. They are trying to drive the total number of accounts they hold (and fees) thus the reason for opening more. You can have three accounts with them. Many report that accepting a pre approval never resulted in a hard pull. 

[SSR]

I just always heard that to many small limits on cards look bad for your file. My bigger limits around $5000 on my Bilt and Amex Hilton haven't reported yet which I assume will help my scores and utilization. 

[binaryhermit]

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@SSR wrote:My bigger limits around $5000 on my Bilt and Amex Hilton haven't reported yet which I assume will help my scores and utilization. 

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But will hurt your age metrics.

In the long run it'll probably help but I'd expect a bit of a short-term drop potentially

[FireMedic1]

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@SSR wrote:

I just always heard that to many small limits on cards look bad for your file. My bigger limits around $5000 on my Bilt and Amex Hilton haven't reported yet which I assume will help my scores and utilization. 

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You just got 2 new cards. Time to chill and let those hits settle down. Its a marathon and not a race. Once age grows your file. You wont need Credit One amymore 1 day. Pass.

[PNWRambler]

I agree that you should just farm for a while - let those inquiries drop off and get some history with the current cards.  CreditOne is a subprime lender and while they can be a useful rebuilding tool, you don't want to open 5 of them.  

[GZG]

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@SSR wrote:

Makes no since to me to keep offering $1000 limits instead of just giving me a credit increase. THX!

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it makes sense for them, not for you

you have better cards, I can't think of a reason to get another credit one card

[Jeffster1]

You don't need another subprime card from this predatory company, which they are only offering so they can compound your existing AF. People on this forum have posted that if you call them saying you wish to cancel, they will transfer you to their Retention Dept which will then offer you an...admittedly small...CLI to entice you to stay. 

Disclaimer: I don't have a Credit One card...nor have I ever had one...but I have read a lot about this company on here, and am just passing along what I read. 

[Jeffster1]

Early in my own rebuild, a buddy of mine had an AWFUL experience with his Credit One card being compromised. Credit One did nothing about it...despite his having reported it right away. He had to pay the fraudulent charge and then closed the account. They never refunded the money even though it was a very obvious case of a card being compromised. 

That was all I had to hear and, combined with what I read on here, it was enough for me to avoid Credit One like the plague during my rebuild.