CreditOne and Indigo

[Anonymous]

So as part of my rebuilding I got these two cards a few months back, built up balances, and paid them down to zero. Today I have cancelled both because neither seem to be worth the effort, and I already have a couple other cards with higher limits and lower APR. From what I've read on these boards, it's probably a good thing to stay as far away from CreditOne and Indigo as possible.

[Loquat]

I know these companies get a lot of bad press around these parts of town, and for good reason.  But the truth of the matter is they serve a unique/nitche market.  They are who they are and in my opinion should be avoided if at all possible or in the very least, utilized as a stepping stone in efforts to get to the next place in your place in your credit life.  I would honestly suggest obtaining a secured card from a more reputable company where one has a chance to either evolve from the secured card or at least start building history with them.

[Anonymous]

I need to cancel credit one and merrick but I need to wait and see if I get bce from American express already got American everyday card. Although I am due to get an increase with merrick but I might keep it for now. Just get rid of credit one. I never use it.

[Anonymous]

Their websites certainly seem designed to promote failure, and the "credit score" from CreditOne is way out of line with every one of my FICO models and even further out of line with my Vantage 3.0 scores.  They list me as a 563 when my Ficos are all 618+ and my vantage are all 670+.  I used them to build some width to my credit file since the only thing I *need* credit for now is to lower my mortgage rates years down the road if I ever choose to purchase a home.  Since I don't have any need for a credit score in the next year it made some sense for me to open too many TLs in a short time.  They got me out to 6 TLs on a spree and got my credit file wide enough that when I pick up a card in the future my AAoA won't take much of a hit.  From here on out I pick one card a year I really want and when I get them I will replace my worst card.  I imagine Indigo and CreditOne will be closed within 2 years for me.

[Anonymous]

What was the PLAN?

Something does NOT make sense....

If there were already 'a couple of other cards with higher limits and lower APRs' that being the case
WHY open the 2 TLs in the first place...what was the purpose?

And to quickly proclaim the cards weren't worth the "EFFORT" after a few months shows ..no offense to the OP ...a disconnect with how the manage one's credit profile

Grab some cards run up balances, pay down balances, blame THE cards for not being worth the 'effort'...What the?

That's just nowhere near proper rhythm or reason towards credit profile management....

What was EXPECTED of the TLs
Especially during such a short time frame
With built up balances???
Doesn't connect, at all...
______

Yes, I'm one of Credit One's (and throw Indigo in to) non fans for....as a 1st option or for a long-term suitor

However, I also make it clear if
a) You've already bitten the bullet or
b) Have limited other choices and need an extra leg
So be it

Either TL works for the purpose of adding positive data for a builder....if the HPs have happened and the accounts open, the milk's open just drink it and upgrade later you don't WASTE the progress made at that point....

Lots of folks start dating this girl or that guy and several MORE before the 'soul mate' shows up....

I know when we share info here many ppl think 'oh I made a mistake....let me go BACKWARDS = hale no don't do that....we are doing two things
1) Sharing next step info but also
2) Have better options for those who haven't acted yet

So again for a haven't made a move yet person I'd say No to Credit-1.... however for a person who just received it in the mail, ok we can work with that, be careful here's what to avoid but we ARE gonna use that bad boy to build our profile...it's here now!

[Anonymous]

Yes, their websites are designed to promote 'failure', consumption, overspending, debt and to harvest FEES

Which again the fee harvesting is the worst BUT the rest is marketing in America, period no different from Apple, the NFL or Krispy Kreme..."they" want us to consume, consume and consume, we must get IVER that.
There are no choir boys in big business, ALL of them prefer to enslave us into debt from the cutest Capital One commercial with Jennifer Gardner to a bottom dweller like Credit One or Indigo, let that part go!!!
___

The credit scores are like GENERICS...their the Store brand...
WHY keep crying about them NOT being the same as real Frosted Flakes....get it straight it's Sugar Caps, there will NEVER be a day your FREE Sugar Caps are the SAME as genuine Frosted Flakes with Tony the Tiger
Tony's sheet ain't the Free one...Got it?

It's amazing that the Free sheet clearly says it's a tool, an alternative measure, another version = GENERIC...the ppl say the numbers aren't the same as real Coke....dude you got a Vons store brand 'Cola' why are you complaining that the taste ain't the same duh???

CK gives a very decent Free REPORT, the scores are 'store brand' = Monopoly 💰= You can't spend it IRL?

Credit Scorecard, Discover and several other issuers that give a Free legitimate FICO generally don't accompany it with full report like CK

Each Free option is going to have a glaring HOLE...ladies and gentlemen, have folks forgotten how the CRAs make MONEY?

Of course their not going allow their products to be just thrown around for FREE...where the freak would the VALUE be then?

You can giveaway Spike but Coke Cola Corp ain't letting you ruin Sprite's value by having their product be the monthly freebie door prize....

No the game is show a LITTLE leg, not to giveaway the farm to non PAYERS....who just arrive on this planet...are you serious?😎

Please STOP with the but my store brand score is X points different than my FICO... c'mon HEAR what you're saying...there different formulas, so OF COURSE their gonna spit out different numbers....

If they didn't, that would mean somebody STOLE someone sheet and is going to jail or at least getting sued

FICO sued the CRAs (and lost) for even creating a GENERIC alternative, the courts said c'mon you can't stop 'em from making up some their own risk calculation score but obviously the formula/recipe HAS to be different enough not to infringe on FICO's property....

This is so obvious, can't understand why ppl don't just THINK for a moment and understand why Sugar Caps can't employ Tony cause Tony's likeness belong to Kellogg's and Frosted Flakes but if you're in a pinch and can't or won't pay for the real thing a cheap box of the Fako stuff will FEED the family 😃

[Anonymous]

Your post makes a lot of sense, but I should clarify that by "already have other cards with higher limits and lower APR's" I meant that I have already obtained these since I got C-One and Indigo, not that I already had them. I'll try to be clearer in the future.

[Anonymous]

---

@Anonymous wrote:
Yes, their websites are designed to promote 'failure', consumption, overspending, debt and to harvest FEES

Which again the fee harvesting is the worst BUT the rest is marketing in America, period no different from Apple, the NFL or Krispy Kreme..."they" want us to consume, consume and consume, we must get IVER that.
There are no choir boys in big business, ALL of them prefer to enslave us into debt from the cutest Capital One commercial with Jennifer Gardner to a bottom dweller like Credit One or Indigo, let that part go!!!
___

The credit scores are like GENERICS...their the Store brand...
WHY keep crying about them NOT being the same as real Frosted Flakes....get it straight it's Sugar Caps, there will NEVER be a day your FREE Sugar Caps are the SAME as genuine Frosted Flakes with Tony the Tiger
Tony's sheet ain't the Free one...Got it?

It's amazing that the Free sheet clearly says it's a tool, an alternative measure, another version = GENERIC...the ppl say the numbers aren't the same as real Coke....dude you got a Vons store brand 'Cola' why are you complaining that the taste ain't the same duh???

CK gives a very decent Free REPORT, the scores are 'store brand' = Monopoly 💰= You can't spend it IRL?

Credit Scorecard, Discover and several other issuers that give a Free legitimate FICO generally don't accompany it with full report like CK

Each Free option is going to have a glaring HOLE...ladies and gentlemen, have folks forgotten how the CRAs make MONEY?

Of course their not going allow their products to be just thrown around for FREE...where the freak would the VALUE be then?

You can giveaway Spike but Coke Cola Corp ain't letting you ruin Sprite's value by having their product be the monthly freebie door prize....

No the game is show a LITTLE leg, not to giveaway the farm to non PAYERS....who just arrive on this planet...are you serious?😎

Please STOP with the but my store brand score is X points different than my FICO... c'mon HEAR what you're saying...there different formulas, so OF COURSE their gonna spit out different numbers....

If they didn't, that would mean somebody STOLE someone sheet and is going to jail or at least getting sued

FICO sued the CRAs (and lost) for even creating a GENERIC alternative, the courts said c'mon you can't stop 'em from making up some their own risk calculation score but obviously the formula/recipe HAS to be different enough not to infringe on FICO's property....

This is so obvious, can't understand why ppl don't just THINK for a moment and understand why Sugar Caps can't employ Tony cause Tony's likeness belong to Kellogg's and Frosted Flakes but if you're in a pinch and can't or won't pay for the real thing a cheap box of the Fako stuff will FEED the family 😃

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You might want to consider meditation.  Stressing out this much over something as simple as a casual discussion among consumers trying to evaluate whether specific credit companies meet their needs cannot be good for your health.  

[Loquat]

Lets remember that we're all here trying to seek help and/or to educate others.  No need for non FSR comments. 

[Anonymous]

After reading through the entire thread, I have one big question, what does FSR stand for?