Thanks Credit One

[Danique]

Well, I've been living on the wild side and started requesting CLIs. I called Credit One today and made a few requests. First, I called and listened to their automated system tell me I was eligible for a CLI of $100 but that would cost $20. I didn't accept, just pressed '0' for an operator. I then asked the rep if I could be credited the late fee I was charged on last month's payment. I missed their pay online option by 15 minutes or so. To my surprise, they waived it. Probably also because this card now has a $0 balance. My CL is $350 so I asked the rep why only $100 and why would I have to pay $20? It would seem to make my CLI amount to only $80. She begins to read from her script and after listening, I tell her I want to close my account. She has the nerve to ask why. I told her because this is my lowest limit CC, even with the $100 increase. Not to mention, I already pay an annual fee, maintenance fee and now they want another fee for a CLI? No thanks I tell her. I was like, at least increase my limit by $150 to make my CL $500. She was like they only increase in $100 increments. So, I told her, if my limit cannot be increased by more than $100, I want to close the card. She asks if I will accept a CLI of $200. (Start grin here) I say yes, I will..The rest, as they say is history. Yeah, they charged $20 for the CLI, but they also credited me $32 for the late payment so it all worked out. I still have a credit on the account. GO ME!!! Gonna request CLIs from First Premier tomorrow. Wish me luck!!!

[Anonymous]

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@Danique wrote:

Well, I've been living on the wild side and started requesting CLIs. I called Credit One today and made a few requests. First, I called and listened to their automated system tell me I was eligible for a CLI of $100 but that would cost $20. I didn't accept, just pressed '0' for an operator. I then asked the rep if I could be credited the late fee I was charged on last month's payment. I missed their pay online option by 15 minutes or so. To my surprise, they waived it. Probably also because this card now has a $0 balance. My CL is $350 so I asked the rep why only $100 and why would I have to pay $20? It would seem to make my CLI amount to only $80. She begins to read from her script and after listening, I tell her I want to close my account. She has the nerve to ask why. I told her because this is my lowest limit CC, even with the $100 increase. Not to mention, I already pay an annual fee, maintenance fee and now they want another fee for a CLI? No thanks I tell her. I was like, at least increase my limit by $150 to make my CL $500. She was like they only increase in $100 increments. So, I told her, if my limit cannot be increased by more than $100, I want to close the card. She asks if I will accept a CLI of $200. (Start grin here) I say yes, I will..The rest, as they say is history. Yeah, they charged $20 for the CLI, but they also credited me $32 for the late payment so it all worked out. I still have a credit on the account. GO ME!!! Gonna request CLIs from First Premier tomorrow. Wish me luck!!!

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Doesn't First Premiere charge even more for CLI.  I think the whole concept of charging a big fee for a CLI should have been made illegal.  With these guys you are paying as much as with a secured card but they keep the money. 

I suggest you look for something better so you can dump both these losers.  

[Anonymous]

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Wolf3 wrote:  I suggest you look for something better so you can dump both these losers.  

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Hi Danique,

I've gotta agree with Wolf3.  Use these cards for rebuilding until you can slip into something more comfortable card-wise.  Paying for CLI's on these cards doesn't help your credit.  Make sure you PIF, and keep your eyes focused on getting your scores and reports in good shape, so you can get a more well-behaved card. 

[Danique]

Well, that 's what I have been doing using them for rebuilding. I have a cc from my credit union that now has a $1500 limit. And since they have placed credits on my account, I don't feel as if I'm paying for the CLI. First Premier gave me the 7-10 day response. When I asked to cancel, they claim they no longer give instant decisions because of the CC Act. I said that sounds bogus because I still get instant decisions from all my other accounts. I was able to get my annual fee credited to my account. (it was paid back in May) so I will wait for their letter and if it says declined, then I'm closing the accounts... I've received $1500 in CLIs in the last week so losing 400 or 800 is not going to kill me... Plus I'm steadily paying other cards off...

[score_building]

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@Anonymous wrote:

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@Danique wrote:

Well, I've been living on the wild side and started requesting CLIs. I called Credit One today and made a few requests. First, I called and listened to their automated system tell me I was eligible for a CLI of $100 but that would cost $20. I didn't accept, just pressed '0' for an operator. I then asked the rep if I could be credited the late fee I was charged on last month's payment. I missed their pay online option by 15 minutes or so. To my surprise, they waived it. Probably also because this card now has a $0 balance. My CL is $350 so I asked the rep why only $100 and why would I have to pay $20? It would seem to make my CLI amount to only $80. She begins to read from her script and after listening, I tell her I want to close my account. She has the nerve to ask why. I told her because this is my lowest limit CC, even with the $100 increase. Not to mention, I already pay an annual fee, maintenance fee and now they want another fee for a CLI? No thanks I tell her. I was like, at least increase my limit by $150 to make my CL $500. She was like they only increase in $100 increments. So, I told her, if my limit cannot be increased by more than $100, I want to close the card. She asks if I will accept a CLI of $200. (Start grin here) I say yes, I will..The rest, as they say is history. Yeah, they charged $20 for the CLI, but they also credited me $32 for the late payment so it all worked out. I still have a credit on the account. GO ME!!! Gonna request CLIs from First Premier tomorrow. Wish me luck!!!

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Doesn't First Premiere charge even more for CLI.  I think the whole concept of charging a big fee for a CLI should have been made illegal.  With these guys you are paying as much as with a secured card but they keep the money. 

I suggest you look for something better so you can dump both these losers.  

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+2

[FicoScore626]

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@Danique wrote:

Well, that 's what I have been doing using them for rebuilding. I have a cc from my credit union that now has a $1500 limit. And since they have placed credits on my account, I don't feel as if I'm paying for the CLI. First Premier gave me the 7-10 day response. When I asked to cancel, they claim they no longer give instant decisions because of the CC Act. I said that sounds bogus because I still get instant decisions from all my other accounts. I was able to get my annual fee credited to my account. (it was paid back in May) so I will wait for their letter and if it says declined, then I'm closing the accounts... I've received $1500 in CLIs in the last week so losing 400 or 800 is not going to kill me... Plus I'm steadily paying other cards off...

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Unfortunately the 7 -10 day response will probably turn out to be a double-edged sword with First Premier. If they approve the increase then they're probably going to increase you by $100 - $150, charge you a $25 fee for the increase and also hit you with a hard inquiry for your troubles...

And if they deny you then you might still end up with a hard inquiry on your reports.

[Danique]

Again, I am using these cards to rebuild my credit. While paying for a CLI may not be ideal for most. It is the option available to me right now and the one that serves my purpose. In addition, I don't really pay for the CLI because they end up crediting it to me anyway. I have some other cards that do not charge for a CLI. Majority of my cards are being paid off. I have gotten my scores up by 20 points in just a little over a week. No doubt the increases will help me get to where I want and then be able to apply for better cards. I have learned a lot from people here on the boards and especially how to take better care of my credit. I had what I thought was good news and wanted to share it but instead, I get messages with the same thing being said over and over again. Honestly, that's why I pretty much stay a lurker on here. If there is nothing new that you can add, then please, don't comment. Just read my post and move on... Thanks...

[score_building]

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@Danique wrote:
Again, I am using these cards to rebuild my credit. While paying for a CLI may not be ideal for most. It is the option available to me right now and the one that serves my purpose. In addition, I don't really pay for the CLI because they end up crediting it to me anyway. I have some other cards that do not charge for a CLI. Majority of my cards are being paid off. I have gotten my scores up by 20 points in just a little over a week. No doubt the increases will help me get to where I want and then be able to apply for better cards. I have learned a lot from people here on the boards and especially how to take better care of my credit. I had what I thought was good news and wanted to share it but instead, I get messages with the same thing being said over and over again. Honestly, that's why I pretty much stay a lurker on here. If there is nothing new that you can add, then please, don't comment. Just read my post and move on... Thanks...

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The fact is that many here have had v. similar experience and want to share their constructive opinion and in many cases are trying to encourage others to avoid making the same mistakes they did.  No one is bashing you here, quite the opposite.

It may not be typical to congratulate a fellow member for paying for CLI since it is not a good option in almost any circumstance, no matter how your credit picture looks there ARE better options:  making the best possible choices for rebuilding is encouraged.

if it works for you now- ok, but since you've been around for a while it should be abundantly clear that it is not something that would typically be promoted or encouraged for newbies reading the thread, sorry.  I am happy for you if satisfied and trust that you'll continue to make the best choices for you.

[Danique]

Point taken. I don't believe in paying for CLIs either which is why I made sure I would get it credited back before accepting. Otherwise, the account would have been closed.

[Anonymous]

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@Danique wrote:
Point taken. I don't believe in paying for CLIs either which is why I made sure I would get it credited back before accepting. Otherwise, the account would have been closed.

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Your original post gave the impression that you were thankful and happy to pay for a CLI.

Sounds like you are doing good in your rebuilding, even though you have chosen an expensive way to do it.  You have a CU card with a good limit and other cards so it time to move on.  Good for you for negoitating a better deal before you dump them. 

I discourage people from doing business with First Premiere and the like because I think their fees are excessive.  In todays market, there are better alternatives for almost everyone.