• Report: #1170950

Complaint Review: Credit One Bank

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  • Submitted: Wed, August 20, 2014
  • Updated: Wed, August 20, 2014

  • Reported By: Crappy One Bank — Fresno California
Credit One Bank
585 Pilot Road Las Vegas , Nevada USA

Credit One Bank Allan Shutt ,Allan Shutt,  Las Vegas Nevada

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Credit One Bank is in the business of slinging Credit Cards like crack to people with bad credit, utilizing a near exact copy of Capital One's logo.  They advertise that you may qualify for $1,000 credit limit.  In fact, they rarely offer more than $300.  This does not help your credit.

Once you get your card in the mail, you will be responsible (depending on the card) for:

 

$75 annual fee billed at once

$99 billed monthly after the first year

23.9 percent interest rate, computed daily

customer service based in some third world country who could care less about you

A management system of thugs who will not help you

A near impossibility of closing the card.  If you read the cardmember agreement closely, unless you overpay and immediately call to cancel they will keep billing that annual fee monthly (to keep the account open)

Ownership by the Sherman Group, a DEBT COLLECTION company.

 

How can you get out of this web of greed?  You can complain to the CFPB.gov.

You can read the contract and arbitrate against Credit One Bank.  There is good information on this if you google credit one arbitration.

You can complain to their management.

You can complain to the Nevada Attorney General.

You can complain to the FTC.  Or do all of the above.

 

Good luck, you will need it against Credit One Bank.  Once you become late, they simply sell the account to themselves and earn interest at 23,9 until they sue you.  By then, you may owe thousands.  


This report was posted on Ripoff Report on 08/20/2014 01:03 AM and is a permanent record located here: http://www.ripoffreport.com/r/Credit-One-Bank/Las-Vegas-Nevada-89119/Credit-One-Bank-Allan-Shutt-Allan-Shuttnbsp-Las-Vegas-Nevada-1170950. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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