Finally cut ties with Credit One!

[FireMedic1]

Congrats! Nice rebuild. Check your reports often and make sure they really closed it. There have many complaints they'll do anythng to hold to you. And not shut it down.

[Crowhelm]

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@jcooks wrote:

Since rebuilding my credit, I was approved for Amex Gold, Amex Blue Business Plus, Amex Blue Business Cash, Chase Freedom Flex and Chase Sapphire Preferred.  A few months ago I called to cancel Credit One and they offered me $0 AF (which is charged monthly) for a few months.  I lost track of when that was supposed to end, but I knew it was soon.  Just yesterday I saw it post as a charge for the AF, paid it off and shortly called them to cancel.  When they asked me the reasons why, this card doesn't fit my profile anymore.  I get charged a crazy fee for a card that I don't use because it offers no more benefit to me.  A card never reached me and I get charged a replacement card fee.  I get charged for any CLI's.  My BBP credit limit was recently raised to 27k, was instantly approved for the CSP for 12.7k.  This was stuck at $450 (could have been higher if I had paid the $25 to raise it by $50, which I declined).  

Thank you Credit One for helping me in my rebuild, but now, it is finally time to say goodbye!

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Congrats on getting rid of them. I see their practices as predatory but I know opinions vary. We went the credit union route, got a mortgage first, then a car loan, and getting a credit card after that was easy. Never went the secured route especially since our dilemma was mainly caused by the reckless behavior of the banks causing the housing collapse. I wouldn't have more than one credit card today if it wasn't for all those great cash-back cards.

[jcooks]

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@FireMedic1 wrote:

Congrats! Nice rebuild. Check your reports often and make sure they really closed it. There have many complaints they'll do anythng to hold to you. And not shut it down.

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I received an email showing that the account is closed.  When I log in it shows 0 available credit limit with a 0 balance.  I will continue to check just in case until next billing cycle.  Thank you.

[Total80sKid]

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@Anonymous wrote:

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@Total80sKid wrote:

Congrats on your growth!

I'm one of the lucky ones with a CreditOne card without an AF. They do serve their purpose.

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The only "purpose" I can see using this company for is if there are absolutly no other options (and there always are... and better ones at that) in order to obtain better cards in the near future.  Do yourself a favor, T8K, and have a look around at the offerings of the many legit companies that you could probably be doing business with instead of these predators.

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They are only predatory if you allow them to be.

2% cash back, no fees, my 2nd highest limit. I'm fine with them right now.

[BronzeTrader]

I do not think Credit One has good reputation....

[practical1]

Credit One does serve a purpose, much like payday lenders and loan sharks do.... and understand when people have no alternative.

In my darkest days, with scores hovering around 450 and not a penny to my name, I took the plunge.  As soon as the card arrived, I cancelled it, before making any transactions or incurring fees.  Never regretted the decision although it probably cost me a couple of more years to get started in my credit rehabilitation process. 8 years later, don't regret my decision and appreciate your difficult choice.

Good for you that they're in your rear-view mirror!  May the seas be smooth an winds in your sails, as they appear to be, now!

All the best!

[Anonymous]

My Credit One AMEX has only a 39 AF. I can deal with that. I don't need the card but I keep it around. My Credit One VISA has a 95 AF, and I don't need it either, but I've found out something interesting recently - a reason to keep the card around you could say. Have gotten into buying crypto recently. It's a pain in the butt to use my debit card. All these hoops to jump through for conducting international currency purchases. Several credit card companies don't allow crypto purchases including Capital One. The ones that do allow it seem to always treat crypto purchases as cash advances! That gets pricey fast! Guess who doesn't? My Credit One VISA! Just another regular transaction to them. That makes me laugh. I'll take it though...

[Anonymous]

Good for you.. There's no reason to hold on to a credit builder card once you've become a responsible credit user. 

[Total80sKid]

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@Anonymous wrote:

Good for you.. There's no reason to hold on to a credit builder card once you've become a responsible credit user. 

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My CreditOne card isn't a credit builder.

Not all CreditOne products are for bad/no credit.

[Ilinferno]

Congrats on moving on!