How and when will Credit One card offer a credit limit increase?!

[Anonymous]

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@Anonymous wrote:

I  got one after my first statement of $200. I had to verify my bank account after the first few payments. I would just use it then paid in full to avoid any fees and made like 3 payments in the first month. I don't plan on keeping this card to long but it is a nice starter card for those of us in the rebuilding process. I have read so many bad things about Credit One but they were the first to offer me a unsecured card and I appreciate them for that. Yeah the fees are not great (way better then some of the other sub prime cards that I have seen) but that is something as a rebuilder that I have accepted right now. Here's to hoping for bigger and better cards in the future. Good luck on your journey!!

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I wish I could undo this kind of thinking. They are vulturous lenders and being the first to offer unsecured credit with terrible terms shouldn't be something appreciated. You can build a credit profile worthy of some mid tier cards on a single Capital One secured TL.

I feel like these terrible cards are an instant gratification. The fees and terms (and customer service from what I've read) are what you pay to stave off having the patience to earn an offer from a decent lender. 

[Anonymous]

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@Anonymous wrote:
I haven't seen anything different from what's been shared already, either an almost immediate auto CLI or nothing till you request then it COST $ & a HP...

Their pretty upfront but still NOT the best out there and in fairness I guess they aren't the worst, either.

IMO, I wouldn't worry too much about developing a long-term relationship with them anyway, they are a wham bam thank you ma'am type vendor.

Use them for what it's worth and RUN....it almost works BEST not for the card to grow because it makes it easier to drop it like a bad habit, once you're qualified for better opportunities.

Otherwise you may stick with them to long...
A nice limit might entice 'spending' ...now you're stuck with that duck...a low limit hopefully forces more ppl to keep the usage on this crap card low,making it easier to pay off and run off to something better.
There doing you a favor by giving you more reason to dump, that thing 1st chance you get.

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+1 Yup. Drop them as soon as you can get a second Cap One card.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I  got one after my first statement of $200. I had to verify my bank account after the first few payments. I would just use it then paid in full to avoid any fees and made like 3 payments in the first month. I don't plan on keeping this card to long but it is a nice starter card for those of us in the rebuilding process. I have read so many bad things about Credit One but they were the first to offer me a unsecured card and I appreciate them for that. Yeah the fees are not great (way better then some of the other sub prime cards that I have seen) but that is something as a rebuilder that I have accepted right now. Here's to hoping for bigger and better cards in the future. Good luck on your journey!!

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I wish I could undo this kind of thinking. They are vulturous lenders and being the first offer unsecured credit with terrible terms shouldn't be something appreciated. You can build a credit profile worthy of some mid tier cards on a single Capital One secured TL.

I feel like these terrible cards are an instant gratification. The fees and terms (and customer service from what I've read) are what you pay to stave off having the patience to earn an offer from a decent lender. 

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I try to discourage this as well. They simply are NOT an option to consider. For one, they are wholely owned by Sherman Capital, a very large Junk Debt Buyer - in essence, they ARE the enemy. Yes, I consider JDB's and CA's to be our "enemy".

[Anonymous]

Thanks guys. This was the first card I applied for in almost a decade and my scores were low. They're nearly 100 points higher now so maybe I should just look for a better card elsewhere when my mortgage is done. I am definitely not paying for a CLI and I shouldn't waste a HP on them!

[Anonymous]

Oh and I pay off every month within a few days of making the charges. I don't carry a balance and haven't paid any interest.

[Anonymous]

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@Anonymous wrote:
Oh and I pay off every month within a few days of making the charges. I don't carry a balance and haven't paid any interest.

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Are you paying before the charges post to your account? AFAIK that's the only way to avoid interest.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
Oh and I pay off every month within a few days of making the charges. I don't carry a balance and haven't paid any interest.

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Are you paying before the charges post to your account? AFAIK that's the only way to avoid interest.

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Credit One charges interest at time of purchase (no 25 day grace period) I found that out after my first payment and will never use that card again. Only going to keep it and First Premier until my score is high enough for a Discover card.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:
Oh and I pay off every month within a few days of making the charges. I don't carry a balance and haven't paid any interest.

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Are you paying before the charges post to your account? AFAIK that's the only way to avoid interest.

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Credit One charges interest at time of purchase (no 25 day grace period) I found that out after my first payment and will never use that card again. Only going to keep it and First Premier until my score is high enough for a Discover card.

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They charge interest at the time the charges post to your account, it's illegal to charge interest on pending charges. If you post a payment before the chargest post, your account remains at a $0 balance, and I've heard that is how some are getting around paying interest. I don't have the card, so I can't verify that, but that is what some say.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:
Oh and I pay off every month within a few days of making the charges. I don't carry a balance and haven't paid any interest.

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Are you paying before the charges post to your account? AFAIK that's the only way to avoid interest.

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Credit One charges interest at time of purchase (no 25 day grace period) I found that out after my first payment and will never use that card again. Only going to keep it and First Premier until my score is high enough for a Discover card.

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They charge interest at the time the charges post to your account, it's illegal to charge interest on pending charges. If you post a payment before the chargest post, your account remains at a $0 balance, and I've heard that is how some are getting around paying interest. I don't have the card, so I can't verify that, but that is what some say.

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Oh didn't know so that maybe gives you a 2-3 day window? Anyways no 25 day grace period is pretty much a deal breaker for me, I already called customer service and complained with no results but may try again.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:
Oh and I pay off every month within a few days of making the charges. I don't carry a balance and haven't paid any interest.

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Are you paying before the charges post to your account? AFAIK that's the only way to avoid interest.

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Credit One charges interest at time of purchase (no 25 day grace period) I found that out after my first payment and will never use that card again. Only going to keep it and First Premier until my score is high enough for a Discover card.

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**bleep**?? I thought it said on my statements that I wasn't paying interest. I'm going to lose my mind if it turns out that I have been. I make the payments as soon as they post and never carry a balance. What a stupid, ridiculous card. **bleep**.