Credit One WARRNING

[Anonymous]

I'm very glad you were able to get everything sorted out with Credit One, but I would echo many other's advice on this thread and cancel Credit One immediately.

I'm a former customer of theirs, back when I was first on the road to credit repair, and I was constantly having to call to get shady fees removed, etc.

Shortly after I realized that they were a less-than-reputable company, I opened a Bank of America secured card for $300 (full deposit required), and used/paid on it diligently. 2 1/2 years later, I've grown to love Bank of America, and that $300 secured no-frills card has evolved into a Bank of America Cash Rewards Visa Signature with an $8,000 limit.

That was all to say, establish a credit relationship with a reputable bank, even if it's a secured card, and watch the relationship grow over time.

Best of luck!

[Anonymous]

I'm somewhat concerned with the effect it would have on my credit to canel the card with them.  Wouldn't that report as a closed account - credit line?  I was thinking just keep on top of it,  use it's bare minimum for at least 6 months,  and then consider closing.   

Thoughts?

[Blackswizz750]

Credit One are predatory at the least. When I had them years ago, they slipped in fees wherever they could, charging debit cards on the phone, pay for cli , and they old site is down trick. Look around and stay away from AF cards if you can.

[mrldp40]

they sent me a letter requesting  verification  I sent it in they sent card now they won't activate it  wanting me to fax docs again 

[Anonymous]

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@Anonymous wrote:

I'm somewhat concerned with the effect it would have on my credit to canel the card with them.  Wouldn't that report as a closed account - credit line?  I was thinking just keep on top of it,  use it's bare minimum for at least 6 months,  and then consider closing.   

Thoughts?

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Is it the only CC you have?  If so, find something else first.  Check out Capital One's prequal site, or a Discover-- secured if necessary.  They'll graduate. But look for no AF cards.

It's not going to hurt you any to close it as long as you have others, any risk to AAoA won't be seen for 10 years and hopefully you'll have lots of history between now and then...

If you're up to keeping on top of the shady practice you already are alert to, time it so you close it at the 10-11 month mark so you don't get hit with another year's fee.