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Whats the deal with credit one bank?

Trooper2003
Established Member

Whats the deal with credit one bank?

i asked for a credit line increase with credit one been a rebuild for about 6 months it was my first card. it has a $300 credit limit when i used it, within a couple i paid it off when it posted never left a balance. since then i gotten a sams club card for $3,000 a capital one mastercard for $1,000 a ollo mastercard for $2,000 and a discover it cash back for $3,000 lines all with 0 balances paid them off every time i have used them. since credit one was my oldest line i asked for  CLI and was denied they reason they gave was my account usage doesnt meet their criteria. I use there card a couple times a month for small purchases and as soon as i use it i pay it. can anybody help me thank you so much.

Message 1 of 14
13 REPLIES 13
Saeren
Mega Contributor

Re: Whats the deal with credit one bank?

You have Capital One, Ollo, and Disco. It's time to cancel Credit One. It's a card that's just meant to build or rebuild and you get rid of it once you have cards with better companies. 

Make sure you check after it's canceled that they don't hit you with any extra fees and that it's actually canceled. 



Message 2 of 14
TraumaNurse
Valued Member

Re: Whats the deal with credit one bank?

A terrible financial institution is the deal.
Message 3 of 14
JR_TX
Valued Contributor

Re: Whats the deal with credit one bank?

OP just Follow @Saeren advice. Credit One is just a necessary evil that you exorcise the first chance you get!
Mission Accomplished on Dec 07 2020! Rebuild Complete!

New cc TLs : 2/6 ; 2/12 ; 3/24
HPs EX 3 EQ 3 TU 1
AAoA 5y4m
UTIL 1% - 3%

$250K+ Total Limits











Message 4 of 14
CreditInspired
Community Leader
Super Contributor

Re: Whats the deal with credit one bank?

Hi OP and welcome

 

Yes, we can all help you. In unison, we say, "get rid of CreditOne."

 

You don't need them!


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 5 of 14
Remedios
Moderator

Re: Whats the deal with credit one bank?

Keep it!




Just kiddin'.
Burn it with fire after you makes sure it's really dead. Those things tend to come back.
Message 6 of 14
TraumaNurse
Valued Member

Re: Whats the deal with credit one bank?

Yes! They are the worst! Must rid yourself.

Message 7 of 14
ImTheDevil
Community Leader
Senior Contributor

Re: Whats the deal with credit one bank?

^^^ agreed, rid yourself of it ASAP.



Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | PenFed PCR | Navy Platinum | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)





TCL $112,400 | Agg. Util under 10%
Message 8 of 14
Adkins
Super Contributor

Re: Whats the deal with credit one bank?

If you've already paid the yearly fee, keep the card until just before you're due to get charged it again and then call and cancel. Ask for a letter to be sent confirming cancelation, and that it shows you owe a zero balance. Keep that letter with this year's taxes, as a CYA because credit one will occasionally do stupid things and it's best to have proof of account closure.

 

They are a low level rebuilder company but not the worst I've seen. You have better cards now and no longer need them - time to move on. 



Last HP 09-14-2020



Message 9 of 14
disney2
Regular Contributor

Re: Whats the deal with credit one bank?

They are awful.  First close the account. and the phone call goes like this "yes, I really want to cancel", "no there's nothing you can do to keep me", "JUST CLOSE IT ALREADY".  Secondly, they send you letters for the next year about how you need to reopen that card and they are holding your awesome credit limit for you.  (You burn those too)  Third, you sit back and enjoy life without Credit One.

Message 10 of 14
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