credit one, is it worth the head aches?

Anonymous · ‎03-13-2019

Hello all,

My credit score has been improving for over a year now. I have a Discover Card and a Cap One card that i am very happy with. I have an auto loan and a personal loan that is about to be paid in full. I realized that I need to add some additional credit cards to finally get the premium cards. I am under the impression that i need a decent mix. As a result, I tried a prequal with Credit One which stated I was approved and the card would be sent to me shortly. I never had the chance to read the terms, accept or decline the offer. I don't even know what they are offering me. I called and they said the card would be sent in the mail. After doing my research I learned how terrible are Cred One's policies. If I do not want to accept the card, can I just not activate it so it will not become a live account. I have read some horror stories such as getting a bill for annual fee before even receiving the card. Any suggestions on how to handle this would be appreciated.

Anonymous · ‎03-13-2019

No, it’s not. If you have Discover and Cap1, you don’t need Credit One. 👍🏾

Anonymous · ‎03-13-2019

Do u know if the card will stay off my credit reports if i do not activate it? They never gave me th chace to accept or decline.

Anonymous · ‎03-13-2019

@Anonymous wrote:
No, it’s not. If you have Discover and Cap1, you don’t need Credit One. 👍🏾

What he said.

You also have a car and personal loan, so you’ve got a good mix now. Another card would be good, but I would pass on Credit One

Anonymous · ‎03-13-2019

Thanks for the responses.

Anonymous · ‎03-13-2019

@Anonymous wrote:
Do u know if the card will stay off my credit reports if i do not activate it? They never gave me th chace to accept or decline.

Ime.....a few days before I found this forum, I applied and was approved for one of their cards. I never activated and cancelled the card. I had a HP report but the trade line didn’t. So basically, it looked like I applied but was denied. Also, I didn’t have to pay any of the fees.

Anonymous · ‎03-13-2019

Yes the hard pull is deceptive because it was supposed to be a prequal inquiry. Did you have to actually call them and cancel the card over the phone with them? I am kicking myself for not doing my homework first on them. It was a recommendation from one of the credit report sites.

Anonymous · ‎03-13-2019

Yes, call. And they will try to get you to reconsider, but stand firm. Also, keep checking to make sure the don’t charge you the fees. I’d hate for a 30 day late to set you back bc you didnt pay because you didn’t know they charged you.

Anonymous · ‎03-13-2019

Yes I figured would need to do some leg work. I was so surprised about how bad their practices are compared to other cards. If I never activate the card how would I know if they charged me fees. I am now worried about getting a bill, not paying and then ruining my perfect payment history after all this hard work to get back. Worse yet, not getting a bill but being reported as 30 days late to the cra. All these possible issues makes u wonder why haven't the authorities put a stop to these unethical practices.

Anonymous · ‎03-13-2019

I'm not sure how a pre-qual here turned into an application/approval for a card?

I would call immediately and say you never actually applied, don't want the card and want the supposed application destroyed as you never consented to an app/account. After that I'd go after getting the HP removed, but for now you just don't want the account to show up on your CR.