Credit One

[Anonymous]

Shoot, I'd apply for anything even for a $100 CL.  But even I passed on a CreditOne and First Premier...that should tell you something.

[Broke_Triathlete]

I'm cancelling mine in 5 minutes.

[Anonymous]

I'm canceling my Credit One card once I get to the 1 year mark, as I don't need a card with an AF now....but for all the horror stories I've read, I have to say my experience with them was very positive.  They sent me a pre-approved offer and I declined due to the $99 AF - I actually called and told them this. Then they sent me another offer with a $49 AF and a $300 CL. I accepted, as it was my very first card in my rebuild journey.  I immediately paid the AF, then charged almost up to $300 that first month, paying it off completely, before the statement cut. My interest was so little, I got the $1 min. int. charge. They immediately raiesed my CL to $700. I've used the card this same way for 5 months now, always using almost all of my CL, then paying off the entire balance the last day of the month. To date, I've paid less than $15 in interest and I've never been charged an extra fee or had any other issues at all.  I know this isn't everyones experience, obviously, but I feel like they get a bad rap a lot.  For a company who gave me credit before anyone else would, took the chance on helping me rebuild - when it could have cost them.....I think they deserve at least one good plug.

[Broke_Triathlete]

H2 I too had a great experience with them. Other than the reps not speaking English real well I've had nothing but good things. I'm just tired of paying the monthly fee (which could result in a late payment if you aren't careful for people who use the line for padding like me) and I don't need the card for padding anymore. I'd do it again if I had to. It wasn't a terrible experience by any means.

[Anonymous]

---

@Broke_Triathlete wrote:

H2 I too had a great experience with them. Other than the reps not speaking English real well I've had nothing but good things. I'm just tired of paying the monthly fee (which could result in a late payment if you aren't careful for people who use the line for padding like me) and I don't need the card for padding anymore. I'd do it again if I had to. It wasn't a terrible experience by any means.

---

I've heard a lot of people talk about a monthly fee, I guess I was lucky in that I didn't get a card with a monthly fee - only the $49 AF which I paid immediately. Glad to hear someone else had a positive experience with them tho!!  When researching them on the net *before I found this forum* I noticed a lot of people who were compaining about them, weren't using their credit responsibly, but still insisting they were the victim. 

And I lol'd at the "reps not speaking English" because I got the same thing when I called the first time to say I didn't want the card with the $99 AF. The (presumably) Indian lady I spoke to was very confused.  I actually activated the card with the $99 AF then called and closed/canceled it without making any charges on the card. I knew they would come back with a better offer at that point.  I knew what I was doing, but she didn't! Sure enough, 2 weeks later, a better offer was in the mail!

[Anonymous]

Got approved back in July last year, horrible limit, paid on time, never missed payments and even paid my balance in full and they still will not increase my limit past $400.00. Based on my payment history would have expected at least 1000-1500 CL but no.  My card is still open I will give them a few more months but if they don't increase my limit by May 2015 I'm dropping them, and sticking with Capital One.

[Anonymous]

You are trying to get blood from a turnip.

Are you confusing them with Capital One?

[Anonymous]

I had one. i hated it. I finally closed it.

[Anonymous]

I agree with H2 -- my experience with Credit One has good and while I would have preferred Cap One, they were the one baddie on my report from years ago and my experience with Cap One was on a par with the stories about Credit One.   I started with a $500 limit 14 months ago with Credit One and they raised it at 6 mos to $750 and then to $950 at 12 mos.  Yes, the 4 payments in a 30 day period is a pain especially for those of us rebuilding.   But, I also have to say that it was their FAKO credit score on the monthly statement that finally got me to focus on getting my act together and helped me find my way here to MyFico.  That being said, I can't wait to age my new Chase and BOA accounts a bit (I've only had the new cards in my hands for less than 24 hours) and then I will be closing my Credit One account!  

[Anonymous]

I opened my Credit One account about a month ago after they sent me a pre-approval letter. Started at a puny $400 limit, charged some and paid it before the due date, and in this one month they've increased my credit limit by $200 without my asking for it. I haven't been charged any fees beyond the annaul (which is high, admittedly) and haven't had to call customer service so I can't say if they are helful or not. All in all it hasn't been a negative experience (no more so than the 2 Citi cards I've had for >20 yers).  I figure I'll keep it open until I qualify for a Discover It card, or until I have a negative experience. All in all, though, I'm very glad I didn't toss that envelope!