Since I can't seem to get Credit None off my back after taking advantage of free FICO scores periodically (don't think they do this anymore) Was curious and got this interesting offer.. No AF/Grace Period/High but in line APR (seen mainstream rewards cards with this interest).....
(I'm well beyond needing this type of product but it still is fascinating)
I used to be of the premise that onr should get rid of cards from t his issuer as soon as possible... But this kind of offer could be reasonable for some folks rebuilding....
(very similar to a Merrick type offer)...
Almost of the thought that Credit None is trying to shed its reputation and cater to a wider audience..... Kind of like how Cap One is improving its lower tier products...
-J
DISCLOSURES AND TERMS & CONDITIONS FOR YOUR CREDIT CARD AND CREDIT PROTECTION PROGRAM Scroll down and read carefully for important information on rates, fees and other costs.
| Interest Rates and Interest Charges | |
Annual Percentage Rate(APR) for Purchases | 22.15% |
Annual Percentage Rate(APR) for Cash Advances | 25.15% |
Paying Interest | Your due date is at least 24 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the Payment Due Date each month. We will begin charging interest on cash advances on the posting date. |
Minimum Interest Charge | If you are charged interest, the minimum Interest Charge will be no less than $1.00 for any billing cycle in which an Interest Charge is due. |
For Credit Card Tips from the Consumer Financial Protection Bureau | To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau. |
| Fees | |
• Annual Membership Fee | $0 |
• Authorized User Participation Fee | $19 annually (if applicable). |
| Transaction Fees | |
• Cash Advance | Either $5 or 8% of the amount of each cash advance, whichever is greater. Credit lines less than $400 will not receive a Cash Advance Transaction Fee in the First year (Introductory period). |
| Penalty Fees | |
• Late Payment | Up to $37 |
• Returned Payment | Up to $35 |
@Anonymous wrote:
@fltireguy wrote:
CO_NATIVE. - I had no idea that's who Credit One was...Yep. In all fairness, changing a name alone is not necessarily bad, credit unions do it all the time (usually to painfully cheesy names but I digress). But to blatantly use a logo and name that is very similar to Capital One's had to have been intentional.
One of the scarier facts about Credit One, in my opinion, is that they are a subsidiary of Sherman Financial Group, LLC the owner of Sherman Acquisitions LP (and others, like LVNV Funding), a debt collector. If a rebuilder uses Credit One responsibly, short term, they do have a place in certain profiles, but again, in my opinion, a secured card from a
more reputablebank that at least offers a grace period on new purchases is always the better option.
I do know a bit about this company's sordid history due to MyFico..... Still not my first choice for a rebuilder card.. But...it is something to consider if a rebuilder got an offer like this... But this offer does hit all the right checkpoints for a decent rebuilder offer... (and as i stated it has No AF, and actually a Grace Period which hasn't been offered much from them)....
In that aspect of the company in general being seedy... Not sure if you remember this but Milestone used to issue credit cards to PAY OFF bills in collections with them.. The bill was put on the card and when you paid it off, you still had an open CL with them... (at least thats what I understood)... That had some seediness to it but wasn't a bad deal in some aspects if you had some blemishes and baddies....
Just threw it out there because I did want to hear folks discuss it.. and perhaps it is a reminder we should ask the terms on a card from folks posting before just saying ditch it... esp if they dont have many TL's... Its still very easy to wear out its useful life esp when more reputable issuers come into play ...
