In the not too distant past, circa 2018, my credit was not good at all. It reflected many of the un-wise decisions of my youth: several derogs including charge offs collections a repo, and I even co-signed for someone's bail at one point (I know right)..
Lo and behold, I received an envelope in the mail from Credit One, offering me an unsecured credit card. Prior to this point, I only had ever had a credit card with Citibank, Wells Fargo, and Capital One. All of which were closed. The Citibank had aged off my report, but the Wells and Capital One were still reporting charged off.
I thought, "I might as well start building positive history, as I clean up this mess and allow Father Time to do his thing." After reading the terms of the agreement, I knew the fees were ridiculous, but I figured "hey let me choose who's choosing me right now."
She was exactly who she presented herself to be on our first date. No grace period, annual fees, which were charged monthly after the first year, and fees upon fees upon fees:
- You want to use your credit limit sooner than 7-10 days after you made a payment? There's a fee for that.
- You want a credit limit increase? There's a fee for that.
As time went on and I cleaned up my profile, I started dating again. Capital One forgave my past shortcomings and we began anew. I expanded my rotation w/ the Apple Card, and finally the Chase Freedom Unlimited: a lady I had been eyeing for years, but never had the courage to approach. Followed by a new lady in town, the X1, a very wholesome Patelco Pure who's a homebody, and finally the Chase Sapphire Preferred.
Credit One, I know you was there for me when these other women wouldn't even give me the time of day, and I appreciate your impact. The fact is, I have outgrown you. You're still charging me fees and I don't even do anything with you. The Chase Sapphire Preferred on the other hand just gave me a 60,000 point bonus in 1.5 months. I know we go back, so it's nostalgic. And even though you cost, at least you were consistent. But I have to let you go. Once I drop to the next tier of utilization, I'm out.. ✌🏾
Thats how you do it. Up the ladder to the next level. Congrats.
Where's Dr. CHOP CHOP @805orbust when you need him, hahaha
Seriously though, those Credit One cards are so bad I don't even know how they are legal. Hopefully you are able to successfully end your relationship with them without to many extra fees to do so. Make sure to watch the account for a couple months after just to make sure.
@Lou-natic dude I am dying!!! They are my #1 CHOP target here for good reason. Loan sharks give better terms 🤣
This story brings a tear to my eyes @Cali_King. THATS whats up!
@FireMedic1 Thank you!
@Lou-natic Thanks and that's funny. Now I picture @805orbust with a butcher's knife!
@805orbust I'm glad you enjoyed my anthropomorphic tale of my credit journey!
I'm down to 31% utilization across all cards. 6 report a zero balance + 3 I have been carrying & chipping away. I mainly snowballed w/ a couple avalanches. By January I will have 2 left with a balance. I will probably CHOP CHOP then. But for now, I'm keeping the Credit Ones because they are still helping my aggregate utilization..
I did a prequal for the Verizon Visa last month and they offered $4,000. Paid off another card then did a prequal this week:
Now it's $5,000 <= 😋
I'll test the waters again next month. 3 out of my last 5 cards have been metal.
Niiiiiice. I love it!