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Credit1 Bank Verification?

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Regular Contributor

Credit1 Bank Verification?

My husband got approved for a Credit 1 card recently. We have made 1 payment, but when we went to make the second payment, it asked for us to do a bank account verification via trial deposits. We completed it successfully, but I just wondered if anyone has has had this happen to them. I have never seen a credit card company do this, so I thought it was a bit strange, especially since the first payment went through just fine.

Discover It $2k // Target Red Card - $700 // Synchrony Home - $2,500 // Merrick $700 // Legacy Visa $750 // Ollo Rewards $500
TU FICO: 663 (2 derogs remaining) EX FICO: 635 (6 derogs remaining) EQ FICO: 607 (6 derogs remaining)
Message 1 of 4
3 REPLIES 3
Valued Contributor

Re: Credit1 Bank Verification?

Yup . . happened to me. No issues.

 

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU Cash Rewards/NFCU Platinum/PenFed Power Cash Rewards/PenFed Pathfinder AMEX/Citi Costco Visa - $96k total revolving
EQ/EX/TU: FICO 8's November 2019: 696/679/668, 14% utilization, AZE2 (w/ those 2 cards reporting 30% util), INQ's: 4/2/1
Message 2 of 4
Regular Contributor

Re: Credit1 Bank Verification?

They did this on my wife’s Credit One card as well. They deposited 2 small amounts and then debited the amount of the 2 deposits. PayPal did the same thing years ago when I opened my account with them.

My credit card journey started 3/2018



Summit Speed Card/Sync Car Care - $10000 CL
Discover It - $6500 CL
AMEX BCP - $10500 SL
BBVA Clear Points Rewards - $15300 SL
PayPal Mastercard - $6500 SL
Cap 1 Quicksilver - $1500 SL(DW’s card)
Credit One Platinum - $1500 (DW’s starter card)
Total CL - $51800

Cash back earned as of 12/1/19 - $1436

Less than 1% - Utilization at pretty much any given point

In the garden lettin’ ‘em grow!

FICO 8 Scores as of 11/28/19
747 Experian, 751 TransUnion, 758 Equifax

Goal cards:
Message 3 of 4
Senior Contributor

Re: Credit1 Bank Verification?

I don't have a credit one account, but I know they have some strange tendencies at times.

Currently rebuilding as of 04/11/2019.

Starting Scores:
EX 518
EQ 518
TU 521

Current FICO scores:
EX 576
EQ 567
TU 575
Message 4 of 4
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