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Yeah, I'm worried about how hard it will be to close my CreditOne account when the time is right. I plan on replacing it with a secured card at First TN bank.
Around mid-October I closed my Credit One Mastercard and Credit One Visa. At the same time, I also closed First National, First Savings and Blaze Mastercard. These cards had served their purpose - and I was done. I have trade lines totalling about $165K, with a utilization rate of just under 1% - BUT - my credit scores still dropped 44 points after I closed those 5 accounts. But, I am glad to report that the 44-point drop lasted only about a month. My credit scores have receoved. So it was worth it. I no longer have any open sub-prime credit card accounts.
@crys12065 wrote:
They said I’ll be getting a letter stating it’s closed and PIF within 30 days. Until then I’m monitoring my account like a hawk to make sure it is closed and they don’t tack on the annual fee because I can see that happening. SMH
If the account is closed as they claim then when you log into your online account it should say "closed" and "$0 available credit". If not, espeically if it shows available credit then they didn't close it. And it does sound suspicious, from what others have posted here about Credit One the "account specialist" is the one who gives you a hard sell to keep it open.
@DaveInAZ wrote:
@crys12065 wrote:
They said I’ll be getting a letter stating it’s closed and PIF within 30 days. Until then I’m monitoring my account like a hawk to make sure it is closed and they don’t tack on the annual fee because I can see that happening. SMHIf the account is closed as they claim then when you log into your online account it should say "closed" and "$0 available credit". If not, espeically if it shows available credit then they didn't close it. And it does sound suspicious, from what others have posted here about Credit One the "account specialist" is the one who gives you a hard sell to keep it open.
Congrats on getting rid of them! Can’t say I’m surprised that they closed it that easy or without verification. They are one shady company.
crys12065 what you found with the CL still showing but $0 balance is how my Barclay Card showed, "proof is in the puddin'" so check credit reports where it should state "Closed at Consumers Request". Sometimes they may only update their CBs once a month so it can drag along. I watched Barclay like a hawk!
@crys12065 wrote:
@DaveInAZ
Yes I just looked and it gives me my credit limit
But says available credit $0 and current balance $0. I’m still keeping an eye on it though until I have something in writing. I don’t trust them, super shady.
Probably a good idea, knowing this company, they probably charged a fee to close the account :-)