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Credit One

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FLSnowpiercer
Member

Credit One

So I'm starting my rebuilding process and credit one already sent me an approval but everything I see on them seems to bash them. How bad are they really

Message 1 of 19
18 REPLIES 18
Scottisthename
New Contributor

Re: Credit One

I have three accounts with them, the oldest five years. In the beginning every payment I made was held for about one week before available credit updated. After about a year now all payments update the available credit in a couple days.

 

each account has received credit limit increases every six months.


with the exception of that first year or two I have not paid them any annual or monthly fees if they post I call and they give me the "valuable customer" fee credits and sometimes a credit limit increase.

 

had fraud once a few years ago and as I recall it was not as easy to resolve compared to the big banks.

 

never paid them for a CLI or cashed one of their silly checks


my first card with credit in the toilet was $350 I now have $5550 in limits with them.

 

 

 

Message 2 of 19
7774x
Established Contributor

Re: Credit One


@FLSnowpiercer wrote:

So I'm starting my rebuilding process and credit one already sent me an approval but everything I see on them seems to bash them. How bad are they really


They have high Aprs,  AF, wait 3-5  days for account payments to be available ,may charge Interest immediately on purchases.. sometimes  charge for  CLIs.. Customer service .. spotty. But if  need a  credit card .. non other to be had ..grab it 

Message 3 of 19
OmarGB9
Community Leader
Super Contributor

Re: Credit One

I guess it depends which version you're approved for. If you're approved for the bottom-of-the-barrel, high AF, no grace period, sky-high APR version, then it's pretty bad.

 

However, they do offer versions of their card with no/low AF, normal grace period and only moderately high APR. Those are...decent I guess. However,  I will say they are better than some other subprime lenders such as First Premier.


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 4 of 19
7774x
Established Contributor

Re: Credit One


@OmarGB9 wrote:

I guess it depends which version you're approved for. If you're approved for the bottom-of-the-barrel, high AF, no grace period, sky-high APR version, then it's pretty bad.

 

However, they do offer versions of their card with no/low AF, normal grace period and only moderately high APR. Those are...decent I guess. However,  I will say they are better than some other subprime lenders such as First Premier.

 

Credit  one has a 5% back card .. with a $95 AF .. with the 25 day grace period


 

Message 5 of 19
SKBirdmind
Regular Contributor

Re: Credit One

I like them - started out with a Platinum Visa Rebuilder. $400 limit, annual fee starting $75 then $99 billed monthly. No grace period for interest, closed it out after a year or so. Then they pre-approved me for a Platinum Visa with $800 limit, currently $1,400 and $39 annual fee.

 

About 4 x months ago, they gave me another pre-approval for Platinum X5 Visa, $3,000 limit with $95 annual fee. Grand total of 2 x accounts currently, combined limit of $4,400 all unsecured.

 

Payments post quickly for me, and credit line increases seem to happen (automatically) more often than Capital One. YEMV...

"If people want to pigeonhole you, then just view it as an opportunity to prove them wrong and show that you are different to what they think you are." -E. Gordon Gee

I Am Not My Credit Score - it's just a made-up number that we all have to live with.

NOW HIRING - senior credit analyst, account manager, or high-end specialist from American Express National Bank.


Don't Listen To Anyone In The Delta SkyMiles-AmEx Facebook Group

Travel Cards:                                                                                                       Cashback Rewards Cards:
Screenshot-2023-06-16-at-10-22-48-AM                                  

Still Active, Less Used:                                                                                      Banks and Credit Unions:
                                    
Former Accounts, Closed Cards, RIP:

Message 6 of 19
FLSnowpiercer
Member

Re: Credit One

These are the pre-approved from credit one:

Credit One Platinum Visa: 

Annual fee

$75 for the first year, $99 thereafter

Credit One AMEX

Credit One Wander

 

 

 

Message 7 of 19
OmarGB9
Community Leader
Super Contributor

Re: Credit One


@FLSnowpiercer wrote:

These are the pre-approved from credit one:

Credit One Platinum Visa: 

Annual fee

$75 for the first year, $99 thereafter

Credit One AMEX

Credit One Wander

 

 

 


But what APR are they offering you, and is there a grace period on them?


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 8 of 19
FLSnowpiercer
Member

Re: Credit One

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

Message 9 of 19
CYBERSAM
Senior Contributor

Re: Credit One


@FLSnowpiercer wrote:

So I'm starting my rebuilding process and credit one already sent me an approval but everything I see on them seems to bash them. How bad are they really


Credit One would approve you (very likely) and would report to all 3 major credit bureaus!

However they have many fees and unnecessary practices that they wish to do, some already mentioned!

This is not a credit card that would grow!

 

There are many other options, but Credit One is the very easy to start with. So if your options are very limited and you don't feel like going extra steps for better banks, then have at it.

 

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.







                
Message 10 of 19
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