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Pre-approved CREDIT ONE Card Invite---Accept It or Trash It??

tag
Credit-hoarder
Valued Contributor

Pre-approved CREDIT ONE Card Invite---Accept It or Trash It??

Around the very beginning of my app spree 3 weeks ago I received a pre-appr. offer from Cred-1. This isn't the first one I've gotten though. They first started showing up after I got my car loan from Wells Fargo back in April-and after being out of the credit card game for about 8 years. . After reading some of the things I've read about them on this board I decided "HECK NO!", but now I'm TEETERING on changing my mind. I have garneed 4 store cards (including Pay-Pal SC), a gas card, a Discover IT, and a credit union Visa since the beginning of my app spree, and wasdenied BB&T Visa and AMEX.-my only 2 denials so far. Should I bite the bullet and accept this card-and maybe just use it as a general purpose "knock-around" card?

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 1 of 19
18 REPLIES 18
myjourney
Super Contributor

Re: Pre-approved CREDIT ONE Card Invite---Accept It or Trash It??


@Credit-hoarder wrote:

Around the very beginning of my app spree 3 weeks ago I received a pre-appr. offer from Cred-1. This isn't the first one I've gotten though. They first started showing up after I got my car loan from Wells Fargo back in April-and after being out of the credit card game for about 8 years. . After reading some of the things I've read about them on this board I decided "HECK NO!", but now I'm TEETERING on changing my mind. I have garneed 4 store cards (including Pay-Pal SC), a gas card, a Discover IT, and a credit union Visa since the beginning of my app spree, and wasdenied BB&T Visa and AMEX.-my only 2 denials so far. Should I bite the bullet and accept this card-and maybe just use it as a general purpose "knock-around" card?


Seeing how you have saved it for 3 weeks go ahead app ..........Shred

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 19
zerobacan
Established Contributor

Re: Pre-approved CREDIT ONE Card Invite---Accept It or Trash It??

SHRREEEEDDDD IIITTT

 

 

hehehe

 

dude you have a prime cc with Discover... why you need to pay $75 annual fee deducted at the second you hit submit, to have what. $225 availabe credit?

 

I had and closed that three times in the last 4 years... everytime they sent me a preaproval and no one approved me i fell... but they outsource cs sucks, they read from a script. no cli ever, just random 100 and you need to pay $25!! to get it

 

 

you make the decision...

Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Message 3 of 19
Credit-hoarder
Valued Contributor

Re: Pre-approved CREDIT ONE Card Invite---Accept It or Trash It??

Did you mean go and "and. shred"?

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 4 of 19
Credit-hoarder
Valued Contributor

Re: Pre-approved CREDIT ONE Card Invite---Accept It or Trash It??

I had been leaning in the shred direction myself for the last couple of weeks until now. Just looking to get some good HONEST opinions of them! (Cred-1)

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 5 of 19
JMills
Frequent Contributor

Re: Pre-approved CREDIT ONE Card Invite---Accept It or Trash It??

Trash it, I have been receiving them in the mail too, but its not a quality card and its seem like it is sub-prime. Just wait and something better will come

Starting Score: EX: 705 EQ: 711 TU: 750 01/06/2014
Current Score: EX: 673 EQ: 673 TU: 643 05/06/2020

Last App: 05/06/202020 / In the Garden Until: 12/31/2024

Desired Scores EQ 800 EX 800 TU 800

PSCEU $20,000 Navy Signature $6,600 Navy Rewards $2,500
Message 6 of 19
Shock_
Frequent Contributor

Re: Pre-approved CREDIT ONE Card Invite---Accept It or Trash It??

i wouldnt. creditone will charge you fees for everything. as one has mentioned, you have a prime card and can get more. i assume you are financially stable and not desperate for credit so don't do it. its a waste of time and money, and obviously a wannabe/ripoff of capital one.

 

if you want a knock around card get a capitalone instead. they are conservative lenders but your card has a chance to grow. with creditone, it wont grow an inch. its designed for people with bad credit and will stay that way.

 

STAY FAR AWAY.

Capital One Quicksilver MC $3000 6/2011 | Chase Amazon Visa $1400 8/2012 | Citi Diamond Preferred MC $4200 7/2013 | AMEX Green NPSL 8/2013 | Chase Freedom $1000 Visa 8/2013 | AMEX BCE $7000 2/2014 ==> 2/2013
Message 7 of 19
Shock_
Frequent Contributor

Re: Pre-approved CREDIT ONE Card Invite---Accept It or Trash It??

Yep...i went from credit one offers to merrick bank, to citi diamond preferred and then amex green. when i got the amex green preapproval, i knew my rebuilding as over lol!

 

just kidding..im still building..came a long way. score now in the 650's because of app spree. that leads me to another point. dont get a HP unless the card is worth one.

 


@JMills wrote:

Trash it, I have been receiving them in the mail too, but its not a quality card and its seem like it is sub-prime. Just wait and something better will come




Capital One Quicksilver MC $3000 6/2011 | Chase Amazon Visa $1400 8/2012 | Citi Diamond Preferred MC $4200 7/2013 | AMEX Green NPSL 8/2013 | Chase Freedom $1000 Visa 8/2013 | AMEX BCE $7000 2/2014 ==> 2/2013
Message 8 of 19
ForMyBiz
Frequent Contributor

Re: Pre-approved CREDIT ONE Card Invite---Accept It or Trash It??

I'd say away personally(wish I had).  If you've got Discover IT it would seem you're already on you way to prime land.  Credit One is pretty bad in terms on what they offer.

Message 9 of 19
bobbay
Established Contributor

Re: Pre-approved CREDIT ONE Card Invite---Accept It or Trash It??

Why is everyone so down on Creditone?  There is a time and place for all of these cards and this is a rebuilder.  I got one for the sock drawer/back-up card.  I was approved for $1,500 instantly and now it helps provide a utilization buffer for my cap one card that is my daily card. 

 

If you already have a bunch of cards and can pick and choose your relationships shread it.  If you are starting the fees are high, the bar is low.  It is not the best card but IMO it has it's place.


Current Score: EX 712 4/28/15, TU 713 4/14/14 lender pull, EQ 723 9/16/15, 740 EQ bankcard 8 6/1/15 lender pull
Last app 03/12/17


Message 10 of 19
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