I have recently been working to rebuild my credit after a bankruptcy. I applied and was approved for a Credit One non-secured credit card.
My warrning is validated as my girlfriend was also a Credit One customer, and had the exact same thing happen to her.
Beware! They have stated to me and her, on multiple occasions over the phone that their website is not working properly, and that they need to take payment over the phone!! This is the 'scam'. If you make a payment over the phone via a debit card they will try to charge you a $9.95 processing fee! DO NOT let them do this.
I set up my bank account information via their website and made my payment 1 day before the due date. Five days later they tried to charge me a late fee stating that the information I entered was incorrect. They of course had no way to vaidate this with me. Furthermore, they have no checks and balances if you're entering incorrect information?? (I find that suspect). However, I logged in while I was on the phone with them and verified I entered the correct information!! They waived the late fee, but said they would only do so if I made a payment over the phone with them. They tried to skip right by the $9.95 fee, only stating what the payment amount would be. When I questioned them, they said they'd waive $2 of the fee, then $5, and then in an "unprecidented, one-time only" they waived the $9.95 over the phone payment fee. I had to beat them up pretty hard about it.
I am positive this is a tactic to try and collect absurd 'instant' debit card payment fee's. When you enter your information in to make payment, take a screenshot, double check everything... take a picture, any other method you can think of to verify you entered the information correctly - just in case.
Now, I know the devils advocate response to this is - are you sure you just didn't enter in the wrong information? The answer is, according to when I logged in and it was correct; the fact they could not verify it with me; the fact they did the same thing to my girlfriend; and that they were so easily persuded to waive the late fee over the phone only to try and squeeze in the instant payement charge. Yes, I feel it's worthy of mentioning here.
Its too bad this happened to you, now that you are here you can get honest feedback on cards you intend on applying for before living through this kind of thing.
Although I personally didn't have this problem with creditone I did close the card at 11 months because I refused to pay monthly annual fee. \
Many will come and recommend you close the card and get something secured from a better bank if nothing else.
Do not waste time with Credit One.
I use to have them in the past and canceled it as soon as I learned what a mistake that was!
If you qualify for Credit One than most likely you can get Capitol One(If your not flagged with them)
A week after my Credit One I applied for CapOne and was approved for 3K.
Also you can get many Secure CCs that can grow or through credit unions.
You have find this website, this means you can find much better options. Cancel Credit One asap.
My CU lets you initiate the payment to the creditor, and pays the late fees if anything goes wrong. DW health insurance (Coventry) was pulling the same tactic.
Only problem with that is it takes a few days so you have to consider your "due date" is a few days earlier, but if you get on a schedule it's not that bad.
Time to call the CFPB or whatever it is and file a complaint. Call credit one after you get a replacement product. You should be able to get every cent in interest and fees you have paid them as well as a sizable increase. Stop using the card and use the replacement. Then a month before the AF is up, cancel it. If you are billed monthly for the product then I would hustle. BOA 99/500 is good, discover secured, not sure how citi secured works with unsecuring. Credit unions where you can show proof of income might help. All these single digit interest cards I have seen, a lot of them offer a secured version or something geard towards rebuilding.
I would be calling them daily until they remove the late payment. That is nothing to take lightly. I remember my credit one card. It had a $300 limit. I remember when I got to 280, I had a magical increase to 500. It sat there forever. Then I remember PAYING $9.95 or something to get my card increased a few hundred bucks. It wasnt until I called to cancel, they bumped my limit to 1050, and said dinner is on us by refunding fees. They do a good job of reporting to the bureaus. But man the way they have no grace period for interest is just nuts. I also think their name and logo is misleading it looks too much like capital one.
Thanks for the responses. I've become SUPER diligent about my credit since my bankruptcy. I have alerts set up, email, text, call me, page me, send me a letter!! Either way, I caught this immediately. They were more than happy to waive the late fee (and they did), but they tried to charge me the 'quick processing' fee in order to do so. I eventually had all fee's waived, and paid my balance in full, so - hopefully, no harm, no foul.
I just wanted to put this out there. The credit world is one big game, you have to be super involved and read all the rules. Make sure you're documenting everything you do, keep all reciepts, set all alerts; make sure everything is reporting correctly!