Credit One Really Reaching Out...

[Anonymous]

Hello all, 

I'm just taking the opportunity to shine some light on some less than stellar lending practices and in combination of BB&T card in August and couple Disco CLI's I'm prob gonna drop this lender before the next statement cuts. 

(Insert unsuccessful attempt to share screenshot) 

Basically Credit One sent me an email stating a $200 Convience Check was in the mail and a $16 Cash Advance fee would post to my account when the check was cashed. Pretty uncalled for if you ask me..

[Jnbmom]

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@Anonymous wrote:

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Hello all, 

I'm just taking the opportunity to shine some light on some less than stellar lending practices and in combination of BB&T card in August and couple Disco CLI's I'm prob gonna drop this lender before the next statement cuts. 

(Insert unsuccessful attempt to share screenshot) 

Basically Credit One sent me an email stating a $200 Convience Check was in the mail and a $16 Cash Advance fee would post to my account when the check was cashed. Pretty uncalled for if you ask me..

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Don't cash it......................................

[Jnbmom]

@Anonymous 

Credit One is a subprime lender, they send these" convenience checks" out to customers hoping they will cash it, but it's really no different then other lenders sending out "balance transfer checks" that also have fees, while prime lenders offer much better terms. it's about the same thing.

[Anonymous]

Never trust any checks that come in the mail from CCCs, IMO.  They always hope to catch someone in a moment of weakness.  I got some in the mail a couple of years ago from a solid lender... I want to say Citi and I shredded them up. 

[Jnbmom]

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@Anonymous wrote:

Never trust any checks that come in the mail from CCCs, IMO.  They always hope to catch someone in a moment of weakness.  I got some in the mail a couple of years ago from a solid lender... I want to say Citi and I shredded them up. 

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Never??   I have gotten several nice BT offers from  above average lenders through the years and some have even been really good offers and I have even utilized some of them on occasion. Obviously the credit one is shredding materia along with quite a few othersl, however not all offers are bad and only for the weak....................................

[Anonymous]

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@Anonymous wrote:

Hello all, 

I'm just taking the opportunity to shine some light on some less than stellar lending practices and in combination of BB&T card in August and couple Disco CLI's I'm prob gonna drop this lender before the next statement cuts. 

(Insert unsuccessful attempt to share screenshot) 

Basically Credit One sent me an email stating a $200 Convience Check was in the mail and a $16 Cash Advance fee would post to my account when the check was cashed. Pretty uncalled for if you ask me..

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How is this a "less than stellar lending practice"?  Or at least any less stellar than any of Credit One's other practices (which you seem to accept since you have one of their cards...)

BTs, and BT offers have their place, but everyone simply weighs the benefits of accepting them. If it doesn't work for you, shred and carry on. 

[NoMoreE46]

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@Anonymous wrote:

Hello all, 

I'm just taking the opportunity to shine some light on some less than stellar lending practices and in combination of BB&T card in August and couple Disco CLI's I'm prob gonna drop this lender before the next statement cuts. 

(Insert unsuccessful attempt to share screenshot) 

Basically Credit One sent me an email stating a $200 Convience Check was in the mail and a $16 Cash Advance fee would post to my account when the check was cashed. Pretty uncalled for if you ask me..

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It is kind of sketchy but this lender is kind of predatory and this is their practice.

While you maybe upset/insulted, it is a simple attempt by CreditOne to grab at least 8% from you.

Feel empowered when you shred that check!

There are plenty of other better lenders that provide these type of checks.  The fee is 3-5 % with no interest for 9-12 months are common.

I gladly took advantage of one of these checks from Wells Fargo.

[RickNATL]

CREDIT ONE....runnnnnnnnnnnnn

[Remedios]

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@RickNATL wrote:

CREDIT ONE....runnnnnnnnnnnnn

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Out of curiosity, are you rebuilding? 

[Stralem]

I miss getting those BT checks before the pandemic. Chase and Discover would send me stacks of them on the regular... Good times.

But Credit One, I would think hard before cashing anything from them. Especially if you're rebuilding.