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Credit One finally closed but wow....

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Established Contributor

Credit One finally closed but wow....

Unbelievable, ok so I called on Friday night to cancel my Credit One card, yay me! But we got disconnected before she could transfer me to a “account specialist “ so I never spoke to them and didn’t have time to call back during their business hours until this morning. Anyway I call this morning and they tell me my account is closed already!!! I only spoke with CSR rep Friday for about 30 seconds and told her I wanted to close my account but never went into specifics, nothing was verified as she was transferring me to some one else. Yet they closed it???
Well I’m happy it’s done but that’s so shady.
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



In the garden until 2020
Message 1 of 20
19 REPLIES 19
Regular Contributor

Re: Credit One finally closed but wow....

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.

Starting scores: EQ 420, EX 421, TU 405 (Jan 2011)
Bk Ch 7 Discharged Mar 2011
Current scores: Julty 2019: TU - 655, EX - 619, EQ - 640
FICO Dream Scores: EQ 700+, EX 700+, TU 700+

Credit accounts: 22% APR auto loan (Mar 2017), Secured [Coke (4000), Discover (1000)], Unsecured [CreditOne $1500, Walmart $150, Target $200], World Finance: $1500, Courtesy Finance: $700, Speedy Finance: $1200 (charged-off)
Message 2 of 20
Regular Contributor

Re: Credit One finally closed but wow....

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.

Message 3 of 20
Senior Contributor

Re: Credit One finally closed but wow....


@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.


Fico 08: 734/716/734 TU/EX/EQ
Message 4 of 20
New Contributor

Re: Credit One finally closed but wow....


@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. 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.


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. 

Started gardening on 10/23/18
Message 5 of 20
Established Contributor

Re: Credit One finally closed but wow....

@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.



In the garden until 2020
Message 6 of 20
Regular Contributor

Re: Credit One finally closed but wow....

I was with them when they were First National Bank of Marin. Before I knew anything about credit, the account charged off and I was on the rocky road of bad credit. When I decided to go for a job that decent credit was required I had to do something. I was bar tending as a side gig and my friends husband was a lawyer. For a small fee, box of contraband cigars, and a double of MacAllan he sent them a few letters and poof! Gone off the reports. They are a terrible company but I was lucky. He was the one who turned me to MyFICO. So for that, I do thank Credit One.
Message 7 of 20
Moderator Emeritus

Re: Credit One finally closed but wow....

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! Smiley Frustrated

Starting Score: 000
Current Score: 850
Goal Score: 850


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Message 8 of 20
Established Contributor

Re: Credit One finally closed but wow....


@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 :-)

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 10/12/19:


First Goal Score: 750+ Reached 3/2019

Next Goal all over 800
Message 9 of 20
Established Contributor

Re: Credit One finally closed but wow....

Well I Just received an email from that my account is closed and I’ll recieve a confirmation letter in the mail. Still keeping an eye on it for awhile though. Don’t want any surprises.



In the garden until 2020
Message 10 of 20
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