"Incorrect Info"

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Written by: casey on 2007-10-10

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casey's review: Callout Comment Hello. I am very happy with this card. It reports to all 3 bureaus. It is very consistent with increases. My limit is OVER $1000, I read on here that someone said they do not give limits over $1000, that is wrong, I am living proof. I did call about that, just to find out, and was told that is only for new accounts, not for existing accounts. They even waived my monthly fee for 3 months because I was told I was a great customer. I don't like the $5.95 fee to pay your bill on line... Oh well. Next day avilability of payments, never a problem. Debit card payments post next day, checking account payments take 2 days to post. I am considering applying for their MasterCard as well because my experience has been so good. Thank you.


Comment 1 by craig
Credit Limit(s) User Icon on 2007-10-10

Remarks I also have one of these cards and the credit limit is *well* over those mentioned in previous reviews. There was no start-up fee and there is no annual (or monthly) fee, however the interest is rather high at 17.84%. Payments have always been posted the day they are received thru my bank's online bill pay service.
Comment 2 by dm
Re: Craig And Casey User Icon on 2007-10-10

Remarks Perhaps I was unclear in my post... They do not approve an OPENING CL of more than $1000. Sorry for the confusion. But I agree that it is a good rebuilding card.
Comment 3 by craig
Re: DM User Icon on 2007-10-10

Remarks At the risk of seeming argumentative; My initial credit limit was beyond the $1000 you mention. In fact, the invitation I received said that the *minimum* credit limit was $2000 for this particular offer. In my case, I don't consider (or use) this card as a "rebuilding card".

Respectfully, I hope this post will serve as notification that while one person is presented with certain terms, another person is/may be presented with entirely different terms.
Comment 4 by dm
RE Craig User Icon on 2007-10-10

Remarks Generally, I would agree about different terms offered to different people (tiered approvals), but Credit One Bank, formerly First National Bank of Marin, clearly states in their regulatory filings (FDIC and SEC) that they serve "customers that have experienced difficulties obtaining credit." That equates to subprime. Check it out. Do a Google search; or even better check out LexisNexis if you have access. Also if you visit their website creditone dot com, it informs applicants of "credit lines UP TO $1000." Are you certain that you are reviewing the correct card?
Comment 5 by dm
VISIT THEIR WEBSITE User Icon on 2007-10-10

Remarks For the sake of good order, I just visited their website: ALL PRODUCTS offer credit limits UP TO $1000. By any definition, that is "rebuilder" or "subprime."
Comment 6 by pat
Sub-prime User Icon on 2007-10-10

Remarks My understanding is that it is sub-prime. I got this card when my scores were mid 500s. The description on this site confirms this.
Comment 7 by karl
Fico 508 User Icon on 2007-10-10

Remarks FG says this card is for poor and bad credit with recommended FICO of 508. $1000 cl. DM is right.
Comment 8 by craig
FICO 786 User Icon on 2007-10-10

Remarks Since we're touting FICO scores, mine is 786. I have visited the Credit One website and am well aware of what it states. I'm not disputing what their website says. I was sent a pre-approval for *this* card stating the minimum credit limit would be $2000. For the record, my credit limit with this so-called subprime card is $8000. If you choose to believe everything (and nothing else but what) you read on this unmoderated site then that's your choice. It rather explains why so many here have gotten themselves in less than desirable credit situations. Further explanation seems to be wasted here. Believe what you choose to believe.

[Comment by Finance Globe Administrator: Please be advised that this site is moderated full time. Just like reviews for anything else, opinions about products will be different among customers.]
Comment 9 by dm
Ok User Icon on 2007-10-11

Remarks Call it what you want. I tend to believe what companies self-report in their business plans and on regulatory filings. I've received some useful information on this site that tends to check out in further research... Sorry that you have not had a positive experience. On a separate note, congratulations on the high FICO.
Comment 10 by jessica
Have To Be Desperate User Icon on 2007-10-11

Remarks I'm not sure how a 23.9% standard APR and an annual fee of $69 is not sub-prime. Credit One states clearly "Credit Line up to $1,000".

[Personal remarks removed by Finance Globe Administrator]
Comment 11 by craig
Re: Jessica User Icon on 2007-10-11

Remarks Well Jessica, had you read my posts/reviews on this card you would understand that my credit line is not $1000, APR is not 23.9% and neither do I pay an annual or monthly fee. If you are paying a $69 annual fee and 23.9% annual fee then yes, your account is so-called subprime. Your use of the word "pessimistic" is incorrect as well. For the last time; Just because Credit One says something on their website it is not carved in stone. They do send offers to better qualified persons with perks and enticements. My reason for posting this information is to let people know that not everything you read on here is accurate.
Comment 12 by casey
To All User Icon on 2007-10-11

Remarks I am so sorry, I didn't mean to open such a can of worms about this card. I just wanted to basically say it is a good card, and they will take care of you if you maintain a good account. I just like it because it growing with me, it was my second card out of my bankruptcy, I will probably never get rid of it out of loyalty. I did try to apply for their MasterCard too, but they said no because I already have this account, only one account allowed at this time, but here is the GREAT thing, they identified me as an existing customer, and did NOT pull my credit, so it didn't even cost me an inquiry. AWESOME!!
Comment 13 by kelly
Card Does Offer Limit > $1,000 User Icon on 2007-10-11

Remarks Good Morning,
I'm a newbie to this forum but want to let you all know that Credit one sent me a Pre-Approval about a month ago that offered a credit limit up to $2000. I too was skeptical but applied anyway(for some odd reason). I received card with initial limit of $1,500 and APR of 19.89% with 3 mos 0% APR

Comment 14 by dm
RE: Kelly User Icon on 2007-10-11

Remarks Thanks for bringing the tone down on this discussion... You are proof that one can offer information without resorting to personal attacks. I appreciate your information and I'm sure others do as well. Like I've said previously: I have only positives for this product, but now that my needs have changed, I'm moving on. Congratulations on your cl.
Comment 15 by meya
This Card User Icon on 2007-10-11

Remarks I was wondering when it was going to calm down... Lol. DM we both know the issue of this card, but I just say to the resolving issue... Halleluyer! And Peace!

The only thing I don't like about this card is the $5.95 every month. It is hard to remember to pay a fee on a card that you do not use. I just wrote checks out for the whole year in my check book. Everytime I pay my bills (monthly) I snatch the check out.
Comment 16 by dm
$5.95 User Icon on 2007-10-11

Remarks I wouldn't have minded being charged the annual fee at once... It's the installments that I find irritating. At least you and I agree Meya!
Comment 17 by pamela2
Meya User Icon on 2007-10-11

Remarks Hey girl, I just got a pre-approved letter in the mail filled it out and it said I was approved after I pushed the submit button and they gave me a approval number and my card would be in the mail. but when I went on their web site it said I was denied. I don't understand? I'm I or I'm I not approved???
Comment 18 by meya
Re: OG Pamela2 User Icon on 2007-10-12

Remarks Hey buddie! Check your message at the network. I am responding there asap.
Comment 19 by mustangguy
Visa User Icon on 2007-12-30

Remarks Well I applied for this credit card 4 times and decline?? Credit one must hate me or something lol
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