How will this impact my score (Credit One)

[TRU_]

I had read a few bad things about Credit One, but this is just sad:

 

 

I applied for barclay rewards & this one at the same time. Barclay was declined but approved after i called the recon line. I read and re-read both application. When i did the credit one card it showed nothing for the card, (it was the default one), Didn't say anything about the "authorized user fee", & the annual fee was supposed to be billed monthly (there was a box on the upper right corner that showed that). HOWEVER, when i got the card & logged in i saw those charges. IMMEDIATELY i wanted to cancel, but the fine print says only if i haven't used it yet.

 

If i pay this off in the next 2 weeks then close it, how much damage would it do? (the $7 transaction was lunch lol)

Edited May 5, 2014 by TRU_

[Cabledude]

Just threw one of their invitations to apply away today. It is a bit of slick wording, but it states the first annual fee of $75 is up front and then $99 every year thereafter. The $99 is then billed monthly at $8.25 per month. The $19 authorized user fee is buried in there too it looks like. Too steep for me, but if you need a good trade line it may be worth it to rebuild.

[shifter]

that's an expensive lunch ...

[TRU_]

that's an expensive lunch ...

IKR! i may end up just doing a BT of this to my Discover it card. then close it. not sure yet. may end up just letting them charge the monthly fee & eat lunch once a month then pay it off just for the TL

[Remo]

I made the same mistake a while back. Its a fee farmer card. On the plus side though I did get an unsolicited (free even) $200 CLI one month after activation with no use other than paying in full all the initial fees. Its a positive TL so I'll keep mine awhile longer.

[casemodgod]

I made the same mistake a while back. Its a fee farmer card. On the plus side though I did get an unsolicited (free even) $200 CLI one month after activation with no use other than paying in full all the initial fees. Its a positive TL so I'll keep mine awhile longer.

 

Get it, keep it till the next AF is gonna start rotating, then cancel it. If they'll cancel the AF, then you can keep it longer, otherwise, its too expensive

 

I'm doing the same thing with mine

[funkiehouse]

It doesn't make any sense at all to pay the AF and then close it and it doesn't make sense to BT. You have to pay it since you used the card.

 

I'm still trying to figure out why you would apply if you read bad things and got a Barclays card, but then again I have made mistakes in my credit history.

 

All of the fees you pointed out are stated on page one of each of their credit card agreements and when they will charge you. You can find your exact one when you login in to your account or look at these:

 

https://www.creditonebank.com/assets/CardholderAgreements/CreditOneBankCreditCardAgreements.pdf

 

Keep it for 11 months and close it. Don't bother using it at all. Cut it up and set about 12 reminders on your computer, phone, wall calendar, your friends computers and phones, get a tattoo of the date you should close it in 11 months or whatever else you need to do to remind yourself, but since you have the Barclays, get rid of this crap before the next AF. Oh and cut up the AU card too.

[ronsetoe]

It doesn't make any sense at all to pay the AF and then close it and it doesn't make sense to BT. You have to pay it since you used the card.

 

I'm still trying to figure out why you would apply if you read bad things and got a Barclays card, but then again I have made mistakes in my credit history.

 

All of the fees you pointed out are stated on page one of each of their credit card agreements and when they will charge you. You can find your exact one when you login in to your account or look at these:

 

https://www.creditonebank.com/assets/CardholderAgreements/CreditOneBankCreditCardAgreements.pdf

 

Keep it for 11 months and close it. Don't bother using it at all. Cut it up and set about 12 reminders on your computer, phone, wall calendar, your friends computers and phones, get a tattoo of the date you should close it in 11 months or whatever else you need to do to remind yourself, but since you have the Barclays, get rid of this crap before the next AF. Oh and cut up the AU card too.

what he said

[TRU_]

It doesn't make any sense at all to pay the AF and then close it and it doesn't make sense to BT. You have to pay it since you used the card.

 

I'm still trying to figure out why you would apply if you read bad things and got a Barclays card, but then again I have made mistakes in my credit history.

 

All of the fees you pointed out are stated on page one of each of their credit card agreements and when they will charge you. You can find your exact one when you login in to your account or look at these:

 

https://www.creditonebank.com/assets/CardholderAgreements/CreditOneBankCreditCardAgreements.pdf

 

Keep it for 11 months and close it. Don't bother using it at all. Cut it up and set about 12 reminders on your computer, phone, wall calendar, your friends computers and phones, get a tattoo of the date you should close it in 11 months or whatever else you need to do to remind yourself, but since you have the Barclays, get rid of this crap before the next AF. Oh and cut up the AU card too.

 

done