Credit One

[SKBirdmind]

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@CYBERSAM wrote:

Most of us that went through rebuild process had Credit One and kept it under 2 years then moved on. Good luck with your rebuild.

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My Platinum X5 Visa's $3,000 limit is 2nd-highest in my entire wallet (only behind Capital One Quicksilver at $3,500), and I'd loosely expect that to at least match or possibly even exceed Capital One sometime in the next year. I'm keeping both my Credit One cards. But everyone's situation is different...

I think I read somewhere (possibly on this forum) that a grace period for Platinum Rebuilder is more-or-less a coin toss - some get it, others don't.

[CreditChallenged2022]

I have the Amex, and honestly I can't complain. I got a CLI after 2 months. I'm resigned to higher interest and fee structures at this point in my rebuild anyway so I'm not stressed about that. If it continues to grow, I'll keep it. While they may be considered predatory, I've been pre-approved for much worse annual fees with lower credit limits, not to mention insane interest. All in all, my experience has been pretty good with them. 

[OmarGB9]

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@FLSnowpiercer wrote:

27% for all. Did not see grace periods Mentioned.

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It'd be good to look into that prior to accepting an offer.

[user365735]

No issues here. They were my first card post bankruptcy. 2k limit. No fees. Don't care about apr since I pay it off. I use my bill payer, and they don't hold payments for me. Even in Dec I made about 3 payments.  I can see this staying with me for years to come..

[Chazzay12]

In my experience they aren't the worst, however, whenever you decide to close them you need to be firm. They will keep offering you this and that and anything to get you to stay and keep account open. People definitely use this to also remove fees as well as mentioned prior. 

As others mentioned high fees, no grace period usually. I'd recommend if you can to get a secured card with no fees like Discover, Cap1. Those are great. All you need is positive history building. If you burned them - maybe OpenSky. No experience here with them personally however.  Best of luck on your rebuild!

[OmarGB9]

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@user365735 wrote:

No issues here. They were my first card post bankruptcy. 2k limit. No fees. Don't care about apr since I pay it off. I use my bill payer, and they don't hold payments for me. Even in Dec I made about 3 payments.  I can see this staying with me for years to come..

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But how do you pay it off every month of they bill their annual fee monthly and don't add it to your balance until the new statement cuts? Unless you push a payment from your main checking account that accounts for your full balance PLUS the monthly annual fee charge well in advance of the due date.

[user365735]

My account has no fees, annual or Monthly. What I mean is I might make a 500 payment, next week make 600 etc. They don't hold payments at all for me. Ymmv. 

[Jeffster1]

Never had one. Don't want one.

A buddy of mine had a horrible time with Credit One when his card was compromised. I've seen a few horror stories on here how they mishandled people's fraud claims, resulting in dings to the cardholders' credit. 

Credit One is owned by the same company which owns LVNV.

[rmduhon]

We used Credit One to jump-start our credit rebuild in 2015. The AF was waived for the first year and it had a $500 limit (can't remember the APR). When it was 9 months old we had better cards so we canceled it before the annual fee started charging monthly. I will say that it took several calls and over a month for them to actually close it, and they didn't like multiple payments every month. I also set up daily balance notifications to make sure there was n trailing interest (continued to get those notifications for several years after it was closed). If you are careful and keep a close eye on it then it can help.