Report: Bank One
Category: Credit & Debt Services
Credit One Bank ,Bank One: flagrant misleading Las Vegas Nevada
*Consumer Suggestion ..i have to agree with Nikki
Bank One
Fax:
Las Vegas, Nevada,
U.S.A.
Submitted: 5/8/2007 8:50:04 AM
Modified: 12/31/2007 7:18:45 AM
Mansour
valparaiso, IndianaI received their offer to apply to credit card. There is no clear information of any fees. After I got their card I called their phone to activate my credit card. After I press yes to activate my card they told me that there is a one time enrollment fees $60 and $5 monthly fees and my remaining balance is $130 and something.
I called them to cancel my card but I'm not sure whether or not they canceled it because I received today new mail from them congratulating me for this account and credit. If I knew or should have known of the fees, I would not subscribe with them.
Mansour
valparaiso, Indiana
U.S.A.
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Updates & Rebuttals:
- Fee listed on separate disclosure Nikki [5/8/2007 8:52:38 PM]
- Thanks Nikki Juliet [5/9/2007 12:59:01 PM]
- read the details. Phil [11/4/2007 9:52:14 PM]
- i have to agree with Nikki Bay [12/30/2007 11:46:45 PM]
Fee listed on separate disclosure
When they send you the approved letter, there is a separate disclosure included in the envelope that lists the fees. It's usually folded and thrown in the envelope, something people might throw away, but keep the approval application.
Anyway, if you have bad credit and need a credit card to re-establish credit, this isn't a bad one to have. I have had mine for about 2 years and they have raised my credit limit twice (at Christmastime of course) without asking for additional money.
The yearly fee is paid in monthly installments of about $5.75 per month so your available credit isn't eaten up all at once. You also don't have to keep track of when your yearly fee is going to post to have enough available. They also post online payments rather quickly (faster than some of my other credit cards). The only drawback is their $5.95 fee to make an online payment, but I pay it rather than relying on regular mail.
They have never bothered me and they have been accurately reporting me to the credit bureaus.
However, you are right that the fees should be stated before you accept the card, rather than after. I guess they figure you read the insert (I also learned, the hard way, to make sure and read all disclosures from now on). There are some cards out there that really rape you. They give you about $20 available after the upfront fees.
Sorry, I sound like a commercial. No, I do not work for them.
Thanks Nikki
lololol Nikki, you do sound rather like a commercial, but when you LIKE a company, it does tend to come out that way!!
Thank you for the information about this particular card, you have clearly read all the fine print, and analyzed its value for you, and I appreciate knowing that. I have several friends who are messing around with these kinds of cards, and have had nothing but the $300 limit with $175 charged on it UPON RECEIPT of the card. So to hear of one that actually has a HAPPY user, who knows what the card is about - that's nice to hear without ME having to review all THEIR paperwork for them.
read the details.
With credit card applications, there is ALWAYS a 'terms and conditions' section that details not only the fees you didn't know about, but also the interest rate, etc...
Some advice for the future: read the details, and don't blame the bank for what you didn't bother to look up. With a credit card, they're there, sometimes you have to actually look for them. And why would anyone accept a credit card that they knew nothing about?! If you didn't know about the fees, I'm assuming that you also knew nothing about the interest rate??
Read the details. It's amazing how they clear things like this up.
i have to agree with Nikki
I too have this card and have very limited credit options and this was one of the few I had a option to have. When I got the invite I went to the site to get the card BUT before I actually signed up I made sure to read Everything first having been messed over by not reading in the past I make sure to do so now.
I had only one issue with the company and that was that I mailed in my payment I get my check on the first so the due date of the 7th would likely have me paying late fees on some months when holidays or weekends interfered.
I called and explained and they changed my due date to the 15th with no problems The lady was really nice about it too. They claimed it would take time to happen but they actually had it in effect within that month. No chance of late fees now and all has gone well I have not had it long but I do look forward to increases as they promised. Until than I will use and pay off and be happy to have it when I run into a situation where I have a need but have no cash. I live month to month on disability so this has been a help for me this Christmas.
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