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Credit One Card experience.....


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Hey guys

 

My wife has that card and right now she has a 740 score across the board, she just got approved for a 15k CitiAA and a Chase Ink for 15k. Now i added her to give her a AU of 12 years and thats what bumped her score so i wanted her to cancel this card cause it's horrible. I think shes had it for 5 years, do you think it will drop her score by alot?

 

No.

 

Even if it dropped it by 300 points she we would be way better off.

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My mom is almost finished rebuilding her credit when her bad marks come off next year. She put a lot of money on secured cards and had a credit one card. The only card she regretting getting was her credit one card. Just find secured cards that un-secure AND that give you back your money fairly quickly. Her Wells card took 73 days literally to return her funds lol. The ones that unsecured for her were Bank Of America, First National Bank of Omaha and Citibank. Only her Bank Of America card had a reward structure.

 

Navy also has a rewards secured card if you are eligible for membership. I don't know if it un-secures as easily as BofA, FNBO or Citibank.

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Because of the equity I had in the car when I traded it for the Jeep. I got my Jeep paid for and a Surplus check. I owed only 7 grand on a car that was $15K KBB because of the large down payment I had on it. The Jeep was only $4,500 so I got a check for the rest.

 

Are you aware that KBB is a FAKO?

 

Did you ever wonder why dealers always tell you how much a car is priced UNDER KBB? No one EVER says, "This is a great deal. We're only asking KBB value for this car!"

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Hey guys

 

My wife has that card and right now she has a 740 score across the board, she just got approved for a 15k CitiAA and a Chase Ink for 15k. Now i added her to give her a AU of 12 years and thats what bumped her score so i wanted her to cancel this card cause it's horrible. I think shes had it for 5 years, do you think it will drop her score by alot?

It doesn't matter. Read my ownership comments above.

 

How I recommend closing a Credit One account:

  • Get the account to a $0 balance
  • Push a payment of about $25 from bill pay to create a credit balance
  • Call and cancel, and ask for a letter that the account is closed. The letter will show the credit balance.
  • You'll get a refund check in the mail in a few weeks.
This keeps them from trying anything shady with you.

the best advice that I have ever seen on this board +1000

I need to do this. Soon.NOW!

 

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Credit one... we all make financial mistakes, and that's why we read and follow this board.

 

Close it as soon as you can. The advice to overpay them a small amount before hand is wise. Credit one makes snake oil salesmen and politicians look like saints. Save what you were making in payments and apply it to a secured card. Just the annual fee and the credit limit increase fee alone are enough to get a better secured card than their product.

 

At least close it the month before the annual fee is due at the latest. Get a secured card or a Cap1 starter card when you can depending on your scores.

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I dont expect to get love from those who have options. When you DONT have options other than secured cards- check my signature- you take what you can get. By the way, my statement shows $0 in interest.... though I carried a balance most of the month. I will keep the card for the full year and then close it after it serves its purpose. I am find with my Santander loan as well. I know how to pay early and extra to maximize payments going to principle. Credit One is already reporting to my credit report and my score went up. Again, no judgment needed, but I'd appreciate more respect for the success than the above comments give. Every situation is different.

 

You are taking the lazy way out. Respect is earned. You want touchy-feely goody congrats? MyFAKO is the place for it. Not here.

 

Good luck with your junk card.

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I dont expect to get love from those who have options. When you DONT have options other than secured cards- check my signature- you take what you can get. By the way, my statement shows $0 in interest.... though I carried a balance most of the month. I will keep the card for the full year and then close it after it serves its purpose. I am find with my Santander loan as well. I know how to pay early and extra to maximize payments going to principle. Credit One is already reporting to my credit report and my score went up. Again, no judgment needed, but I'd appreciate more respect for the success than the above comments give. Every situation is different.

 

I've been in your exact shoes, that why I felt I could comment and let you know where I've been. I actually started with First Premiere and they're even worse than Credit One. After my D/C in 13 I went: First Premiere < Credit One < Merrick Bank < Capital One < Barclay. I axed the first 3 a few months ago so my only 3 cards now are with Cap One and Barclay. I did exactly what you did and kept all cards open for at least a year and got all the lines up to $1000 so if there was ever a manual review on my account they would see that I didn't have a limit of anything under $1,000.

 

I don't think my comments were out of line. I felt I was giving you a heads up for what you're in store for.

 

At any rate, we wish you luck and we're here to help.

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Zobelle...Lazy my foot. I love that you assume that without having any facts or data to back up that asinine assumption. You dont have to post on my post if you dont agree if you can do so respectfully. I never would make that judgment call about someone I dont know based on them making what is the best possible decision for THEIR situation. Instead of assuming, it would be more intelligent of you to ASK for details regarding WHY the decision is made before you label someone in ignorance. It really shows a wise judgment call.

 

I dont expect to get love from those who have options. When you DONT have options other than secured cards- check my signature- you take what you can get. By the way, my statement shows $0 in interest.... though I carried a balance most of the month. I will keep the card for the full year and then close it after it serves its purpose. I am find with my Santander loan as well. I know how to pay early and extra to maximize payments going to principle. Credit One is already reporting to my credit report and my score went up. Again, no judgment needed, but I'd appreciate more respect for the success than the above comments give. Every situation is different.

 

You are taking the lazy way out. Respect is earned. You want touchy-feely goody congrats? MyFAKO is the place for it. Not here.

 

Good luck with your junk card.

 

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No your comments arent disrespectful or anything at all. I appreciate HOW you said you disagree, unlike others. My comment was NOT directed at you. I tried to remain professional by not calling out folks. When you CANT get approved for a secured card or dont have the liquid cash to do so, but NEED to reestablish now, then it makes a difference. Due to some other personal factors going on, I did not have the cash to do everything I wanted, hence I only have one secured card, which is why I suggested folks read my signature. I do appreciate your advice. I will cut down on the interest I pay with Santander by using smart consumer methods to pay more to principle. Then, my credit unions will help me refinance after six months. To take the 75 hit for the annual fee- Capital one got more than that out of me over the years, its worth it to reestablish in my view.

 

 

I dont expect to get love from those who have options. When you DONT have options other than secured cards- check my signature- you take what you can get. By the way, my statement shows $0 in interest.... though I carried a balance most of the month. I will keep the card for the full year and then close it after it serves its purpose. I am find with my Santander loan as well. I know how to pay early and extra to maximize payments going to principle. Credit One is already reporting to my credit report and my score went up. Again, no judgment needed, but I'd appreciate more respect for the success than the above comments give. Every situation is different.

 

I've been in your exact shoes, that why I felt I could comment and let you know where I've been. I actually started with First Premiere and they're even worse than Credit One. After my D/C in 13 I went: First Premiere < Credit One < Merrick Bank < Capital One < Barclay. I axed the first 3 a few months ago so my only 3 cards now are with Cap One and Barclay. I did exactly what you did and kept all cards open for at least a year and got all the lines up to $1000 so if there was ever a manual review on my account they would see that I didn't have a limit of anything under $1,000.

 

I don't think my comments were out of line. I felt I was giving you a heads up for what you're in store for.

 

At any rate, we wish you luck and we're here to help.

 

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I never would make that judgment call about someone I don't know based on them making what is the best possible decision for THEIR situation. Instead of assuming, it would be more intelligent of you to ASK for details regarding WHY the decision is made before you label someone in ignorance. It really shows a wise judgment call.

Yup

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No is trying to be mean here. We're just sharing our pooled expertize on this particular bank with you. While some may have had overall positive experiences with Credit One, the majority have not.

 

If you feel they are doing you right, and don't want to close it, that's your call, and I hope it works out well for you.

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No your comments arent disrespectful or anything at all. I appreciate HOW you said you disagree, unlike others. My comment was NOT directed at you. I tried to remain professional by not calling out folks. When you CANT get approved for a secured card or dont have the liquid cash to do so, but NEED to reestablish now, then it makes a difference. Due to some other personal factors going on, I did not have the cash to do everything I wanted, hence I only have one secured card, which is why I suggested folks read my signature. I do appreciate your advice. I will cut down on the interest I pay with Santander by using smart consumer methods to pay more to principle. Then, my credit unions will help me refinance after six months. To take the 75 hit for the annual fee- Capital one got more than that out of me over the years, its worth it to reestablish in my view.

 

 

I dont expect to get love from those who have options. When you DONT have options other than secured cards- check my signature- you take what you can get. By the way, my statement shows $0 in interest.... though I carried a balance most of the month. I will keep the card for the full year and then close it after it serves its purpose. I am find with my Santander loan as well. I know how to pay early and extra to maximize payments going to principle. Credit One is already reporting to my credit report and my score went up. Again, no judgment needed, but I'd appreciate more respect for the success than the above comments give. Every situation is different.

 

I've been in your exact shoes, that why I felt I could comment and let you know where I've been. I actually started with First Premiere and they're even worse than Credit One. After my D/C in 13 I went: First Premiere < Credit One < Merrick Bank < Capital One < Barclay. I axed the first 3 a few months ago so my only 3 cards now are with Cap One and Barclay. I did exactly what you did and kept all cards open for at least a year and got all the lines up to $1000 so if there was ever a manual review on my account they would see that I didn't have a limit of anything under $1,000.

 

I don't think my comments were out of line. I felt I was giving you a heads up for what you're in store for.

 

At any rate, we wish you luck and we're here to help.

 

 

 

That's a good plan of attack with the credit union. I checked with mine prior to selling the car and they were going to refi at 10%. Which sounded great to me coming from, I think 26%, but still wanted to be done with it. If you have the ability try to keep accounts open for 2 years because that's considered no longer knew, at least that's what I've been told.

 

Keep your head up, one day at a time, and make sure you take care of the lines you acquire from here on out.

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No your comments arent disrespectful or anything at all. I appreciate HOW you said you disagree, unlike others. My comment was NOT directed at you. I tried to remain professional by not calling out folks. When you CANT get approved for a secured card or dont have the liquid cash to do so, but NEED to reestablish now, then it makes a difference. Due to some other personal factors going on, I did not have the cash to do everything I wanted, hence I only have one secured card, which is why I suggested folks read my signature. I do appreciate your advice. I will cut down on the interest I pay with Santander by using smart consumer methods to pay more to principle. Then, my credit unions will help me refinance after six months. To take the 75 hit for the annual fee- Capital one got more than that out of me over the years, its worth it to reestablish in my view.

 

 

I dont expect to get love from those who have options. When you DONT have options other than secured cards- check my signature- you take what you can get. By the way, my statement shows $0 in interest.... though I carried a balance most of the month. I will keep the card for the full year and then close it after it serves its purpose. I am find with my Santander loan as well. I know how to pay early and extra to maximize payments going to principle. Credit One is already reporting to my credit report and my score went up. Again, no judgment needed, but I'd appreciate more respect for the success than the above comments give. Every situation is different.

 

I've been in your exact shoes, that why I felt I could comment and let you know where I've been. I actually started with First Premiere and they're even worse than Credit One. After my D/C in 13 I went: First Premiere < Credit One < Merrick Bank < Capital One < Barclay. I axed the first 3 a few months ago so my only 3 cards now are with Cap One and Barclay. I did exactly what you did and kept all cards open for at least a year and got all the lines up to $1000 so if there was ever a manual review on my account they would see that I didn't have a limit of anything under $1,000.

 

I don't think my comments were out of line. I felt I was giving you a heads up for what you're in store for.

 

At any rate, we wish you luck and we're here to help.

 

 

 

That's a good plan of attack with the credit union. I checked with mine prior to selling the car and they were going to refi at 10%. Which sounded great to me coming from, I think 26%, but still wanted to be done with it. If you have the ability try to keep accounts open for 2 years because that's considered no longer knew, at least that's what I've been told.

 

Keep your head up, one day at a time, and make sure you take care of the lines you acquire from here on out.

 

 

Thanks so much for the admonition. Ive been down this credit building path twice before. The world is VERY different... especially as a self-employed person. As the other facets of life allow me to go mainstream, I will do so. Im preparing for another house in two and a half years. Thats the benefit of bk lol. I so appreciate your words. Many blessings to you.

If you can't scrape up $500-1,000 for a decent secured card or two, Then you have zero business messing with credit.

 

Thank you for your opinion.

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No your comments arent disrespectful or anything at all. I appreciate HOW you said you disagree, unlike others. My comment was NOT directed at you. I tried to remain professional by not calling out folks. When you CANT get approved for a secured card or dont have the liquid cash to do so, but NEED to reestablish now, then it makes a difference. Due to some other personal factors going on, I did not have the cash to do everything I wanted, hence I only have one secured card, which is why I suggested folks read my signature. I do appreciate your advice. I will cut down on the interest I pay with Santander by using smart consumer methods to pay more to principle. Then, my credit unions will help me refinance after six months. To take the 75 hit for the annual fee- Capital one got more than that out of me over the years, its worth it to reestablish in my view.

 

 

I dont expect to get love from those who have options. When you DONT have options other than secured cards- check my signature- you take what you can get. By the way, my statement shows $0 in interest.... though I carried a balance most of the month. I will keep the card for the full year and then close it after it serves its purpose. I am find with my Santander loan as well. I know how to pay early and extra to maximize payments going to principle. Credit One is already reporting to my credit report and my score went up. Again, no judgment needed, but I'd appreciate more respect for the success than the above comments give. Every situation is different.

 

I've been in your exact shoes, that why I felt I could comment and let you know where I've been. I actually started with First Premiere and they're even worse than Credit One. After my D/C in 13 I went: First Premiere < Credit One < Merrick Bank < Capital One < Barclay. I axed the first 3 a few months ago so my only 3 cards now are with Cap One and Barclay. I did exactly what you did and kept all cards open for at least a year and got all the lines up to $1000 so if there was ever a manual review on my account they would see that I didn't have a limit of anything under $1,000.

 

I don't think my comments were out of line. I felt I was giving you a heads up for what you're in store for.

 

At any rate, we wish you luck and we're here to help.

 

 

 

That's a good plan of attack with the credit union. I checked with mine prior to selling the car and they were going to refi at 10%. Which sounded great to me coming from, I think 26%, but still wanted to be done with it. If you have the ability try to keep accounts open for 2 years because that's considered no longer knew, at least that's what I've been told.

 

Keep your head up, one day at a time, and make sure you take care of the lines you acquire from here on out.

 

 

Thanks so much for the admonition. Ive been down this credit building path twice before. The world is VERY different... especially as a self-employed person. As the other facets of life allow me to go mainstream, I will do so. Im preparing for another house in two and a half years. Thats the benefit of bk lol. I so appreciate your words. Many blessings to you.

If you can't scrape up $500-1,000 for a decent secured card or two, Then you have zero business messing with credit.

 

Thank you for your opinion.

 

 

If you listen to the advice here, you can do it correctly this time. All of the fees that you are going to pay Credit One could go towards the deposit on a secured card.

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SDFCU, Try them.

 

Also, it doesn't compare to the interest you will pay them over the next year.

 

I didnt pay any interest last month. We will see about this month. SDFCU... I will look into it. Ive got a SLEW of inquiries from car shopping.

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SDFCU, Try them.

 

Also, it doesn't compare to the interest you will pay them over the next year.

 

I didnt pay any interest last month. We will see about this month. SDFCU... I will look into it. Ive got a SLEW of inquiries from car shopping.

 

 

Car shopping doesn't cause inquiries. You can (and should) shop for a car with your reports frozen, after you've already arranged financing.

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I didnt get approved for the secured cards I want, except for Discover.

Of course you didn't! Why would you? When people apply for cards "that they want" with not so perfect credit, they are never approved. Were you aware of their approval requirements?

 

Have you even browsed the secured card thread?

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