"Rebuilder Card"
Credit One Bank® Platinum Visa® Review
Written by: jemannie on 2012-05-02
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
jemannie's review: 
I was in the process of rebuilding my credit after filing bankrupt and being discharged in 2008. I received a pre-approved offer in the mail for this card in January of 2010. I applied and was approved with a cl of $250. After 6 months of paying the balance either off in full or down to below 20%, I was declined for a cli. My credit was not all the best at the time so I left it alone only to be denied again about another 6 months later.
I applied for a Capital One card and was approved with a $500 cl. The following month, Credit One decided all of a sudden to give me a cli from $250 to $450. The customer service is terrible and I've threatened to close the card a couple of times but it is one of the oldest that I have had since rebuilding my credit. I actually just received another cli of $100 but for a fee of $24.95 but I don't charge anything on the card anyhoo. I just keep paying my bill every month and will be closing it once I get the balance paid off. Why keep the card if I now have 2 Capital One cards and a Sears Mastercard (all of which have no montly fees)? My score has improved drastically though from paying my bills on time & a large chunk if I can so it served its purpose.
I was in the process of rebuilding my credit after filing bankrupt and being discharged in 2008. I received a pre-approved offer in the mail for this card in January of 2010. I applied and was approved with a cl of $250. After 6 months of paying the balance either off in full or down to below 20%, I was declined for a cli. My credit was not all the best at the time so I left it alone only to be denied again about another 6 months later. I applied for a Capital One card and was approved with a $500 cl. The following month, Credit One decided all of a sudden to give me a cli from $250 to $450. The customer service is terrible and I've threatened to close the card a couple of times but it is one of the oldest that I have had since rebuilding my credit. I actually just received another cli of $100 but for a fee of $24.95 but I don't charge anything on the card anyhoo. I just keep paying my bill every month and will be closing it once I get the balance paid off. Why keep the card if I now have 2 Capital One cards and a Sears Mastercard (all of which have no montly fees)? My score has improved drastically though from paying my bills on time & a large chunk if I can so it served its purpose.
3 Comments
Comment 1 by wanderer
Re: Rebuilder Card 
on 2012-05-02
Thanks for laying it out on this card. Many of us started with sub-prime rebuilders and after they out lived there usefulness we sent them down the road. The hit on the FICO Scores is short lived once there is an established credit history.
on 2012-05-02 Thanks for laying it out on this card. Many of us started with sub-prime rebuilders and after they out lived there usefulness we sent them down the road. The hit on the FICO Scores is short lived once there is an established credit history.
Comment 2 by sintanjin89
Re: Rebuilder Card on 2012-05-03
I recently dumped Crapital One because of the low credit limits and unwillingness to raise the limits. Their customer service sucked as well. They have served their purpose but now I have prime cards such as Discover, Chase and Wells Fargo.
on 2012-05-03 I recently dumped Crapital One because of the low credit limits and unwillingness to raise the limits. Their customer service sucked as well. They have served their purpose but now I have prime cards such as Discover, Chase and Wells Fargo.
Comment 3 by creditcardaddict
Re: Rebuilder Card on 2012-05-03
I've never had a secured card of any type, but as to how they describe the card you should close it. It's no worth using it or having it since your credit scores have improved, and can keep doing it by using your Sears MasterCard and Capital Ones's and making on time payments or PIF.
on 2012-05-03 I've never had a secured card of any type, but as to how they describe the card you should close it. It's no worth using it or having it since your credit scores have improved, and can keep doing it by using your Sears MasterCard and Capital Ones's and making on time payments or PIF.
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Disclaimer: This content is not provided by Credit One Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Credit One Bank. Review content is powered by Finance Globe.
