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CREDIT ONE Visa question!

Established Member

CREDIT ONE Visa question!

Hi all!

So I started the slow painful process of rebuilding my credit... it’s not good with many delinquent accounts and charge offs, I went through a divorce 4 years ago and my credit went into a major tailspin.
Last month after not having any credit cards for 4 years I was able to get a Credit One Visa with a $300 limit, a capital one unsecur d platinum with $300, a secured Discover card with $300. I have been a bit crazy in watching my utilization.... reading so much on here has taught me all about That! I have used that thing that says to pay all cards in full except one, and leaving that one at about $25. It’s only been one cycle but with the credit one card I had put charges on it up to 30% and then would pay it off with each charge a couple of days later, I was not yet educated on the PIF by the statement end date. So then when I tried to pay the last charge of $29 three days before the statemen close, I got a message saying I reached the 4 payment limit.... saying I can’t make more than 4 payments in a 30 day period. So basically I got a small interest charge on that $29! I’m confused because The other cards let me pay as much as I wanted! Is this a typical thing for its credit one so they can be their interest????? Then they also raised my credit limit to $450 the other day!!
And then after The statement period ended the other day I tried to go in and pay that $29 and it’s still telling me I can’t pay it! I’m not sure if I should close this after I can pay that off. I’m worried now they won’t let me pay this and I’ll get a late fee!!!

Any help would be great! So many here have inspiring stories of their credit raising and I have some hope! Thanks so much!

Starting Score: 577EQ 529TU 569EX (2/28/18)
Current Score: 617EQ 634TU 565EX (3/22/18)
Goal Score: 700


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Message 1 of 3
2 REPLIES
Highlighted
New Contributor

Re: CREDIT ONE Visa question!

No need to make quite as many payments .. But kudos on gettin it done! 

 

Find the statement date... Pay any balance i say at least a minimum of 3 days before(due to closing dates could fall on weekends). Then for a second payment i would just target two weeks from that date.

 

Congrats again on starting the journey.

 

I would also , not close any of the accounts now. From what i read this will be helpfull during your rebuild to allow "gardening" .. Just dont apply for anymore and manage these as you are.


Starting Scores: EQ 681 TU 690 EX 674 - 3/13/2018
Current Score:    EQ 686 TU 698 EX 674 - 3/18/2018
Goal Score:         EQ 750 TU 750 EX 750 - 12/31/2018

Open:
Discover it - $0/$7500
Barclay       - $0/$2650
Ollo             - $0/$2000
Closed:
Sears (Citi)               - $1341
Lowes (Synchrony) - $3791

Utilization: 42.2%

NEVER EVER, close a card unless it is paid to $0... Even then reconsider.
#ILearnedTheHardWay
Message 2 of 3
Regular Contributor

Re: CREDIT ONE Visa question!

Keep them open for future needs for now, 

but dont use the credit one, use the others.

 

actually, use the credit one as one of the ALL ZERO ones!

(TUfico8 810)--(EXfico9 804)--(EXfico8 798)--(TUvs3.0 767)- CL- pers 175k+ util~5% biz $85k+
IHG 14.2k--BOA 15.5k--Amazon Prime Store 10k--Amazon PrimeVS 500--Amex Blue Cash Everyday 6k--WellsFargo Cash Wise 14k--PNC Core 10.2k--WalmartMC 10k--SearsMC 10k--Lowes 18k--Toyota 6.5k--Capital One 5250--BP 10k--Home Depot 24.2k--Chase FU 6.6k--Discover 15.5k
BIZ- Amex Plum NPSL--Amex SC+ $13.5k--Amex B4B $12k--Chase Ink $36k--PNC $25k
Message 3 of 3