Worst Credit Card Ripoffs - Credit One Bank (creditonebank.com)
January 23rd, 2009 | by HelpingU |
It seems that for every good credit card company out there, there’s an equal number of shady credit card companies preying on unsupecting consumers. Credit One Bank (creditonebank.com) is one of those companies consumers should avoid like the plague. If you receive and offer from them in the mail saying you’ve been pre-approved, throw the letter out and forget about it.
There are a number of negative reports from consumers regarding Credit One Bank and poor customer service, exorbinant interest rates and incredibly high fees for late payments. There are also numerous complaints about consumers trying to cancel their accounts with Credit One Bank…
| I was trying to find a cancellation dept. or at least a 1 800 number to call them but couldn’t find any to cancel my account. Instead, a bunch of answering machine will assist you. I knew then that there is something wrong. For some reason they don’t want to deal with this kind of situation. |
Source: http://www.complaintsboard.com/complaints/44767/page/2
It seems so bad with this company that some consumers are calling Credit One Bank a downright scam…
| Basically, this company LIES and when you try to pay your bill on-time, they do not take payment and then charge you astronomical fees. Its a total scam and its not worth the $300 or $400 credit limit they give you. |
Source: http://www.gripevines.com/index.php?topic=102.0
| Credit One Bank is a group of total scam artists. You have to call 3 times to get something done that should take once. They charge you fees for having no balance on your credit card… and charge you a late fee on the fee for having no balance…. normally people think… I have no balance… so I don’t need to send money. |
Source: http://www.yelp.com/biz/credit-one-bank-city-of-industry
We checked into Credit One Bank a little deeper, and found out that while Credit One Bank offers credit cards they claim will help you rebuild you’re credit, in most cases will actually ruin your credit. For example, their Platinum Mastercard makes this claim while sticking consumers with a whopping 23.9% APR. Are these people crazy? 23.9% is more than your neighborhood loan shark would charge you.
Another disgusting tactic Credit One Bank uses is charging consumers a $7 fee for an electronic payment in attempts to keep the consumer’s account open with them. Yes, you read that correct, they charge you $7 for making an online payment.
| i recently got another card that has better apr and i want to get rid of this card BUT i read in the fine prints tht they charge u 7.00 for electronic payment so tht means even if u pay evrything off u still have another fee added to ur credit…how do i get rid of this card? |
Source: http://answers.yahoo.com/question/index?qid=20080714014849AADF2c2
Credit One Bank also charges a $69 annual membership fee and a $69 enrollment fee which means consumers are bilked out of almost $140 just for accepting the card. For cash advances they rip consumers off for $5.00 or 3% of the advance, whichever is greater. They also charge a $29 late fee and a $29 overlimt fee which is slightly higher than the national average.
According to the Better Business Bureau of Nevada, where Credit One Financia is headquartered, the company has a rating of “F” which is the absolute lowest rating a company listed with the BBB can muster. The BBB report states that Credit One was given an “F” rating because of the number of complaints filed against this business, failure to respond to complaints filed against them and the number of complaints filed against this business that were not resolved.
For any consumers who are having difficulty obtaining accurate information about Credit One Bank, here is their information pulled from the BBB report.
| Company Name: | Credit One Financial |
| Company Address: | 585 Pilot Rd. Las Vegas, NV 89119 |
| Phone Number: | (702) 269-1000 |
| Business Start Date: | September 2000 |
| Type of Entity: | Corporation |
| Incorporated: | 12/17/1998 in NV |
| Principal: | Robert DeJong, President |
| Customer Contact: | Jim Shaughnessy, Vice President - Director |
| BBB Accreditation Status: | This company is not a BBB Accredited Business. |
| Type of Business: | Credit Card & Other Credit Plans |
| Web Site Address: | www.creditonebank.com |
It is highly recommended that consumers steer clear of Credit One Bankk and their credit card offerings. The BBB rating alone is more than enough reason to avoid Credit One Bank but when you add in the plethora of fees and their penchant for nickle and diming consumers, it’s apparent that Credit One Bank is one of the worst credit cards out there.
2 Responses to “Worst Credit Card Ripoffs - Credit One Bank (creditonebank.com)”
By Candlestick Pattern Indicator on Jan 27, 2009 | Reply
It is pathetic what a company will try and do to get more money. With an F rating I don’t see how this company is staying afloat. I would think they would have sunk by now and well on their way to the bottom of the ocean to be eaten by giant squids and all sorts of horrid creatures of the deep. We will see them sink soon, until then I hope that others don’t fall for the trap they lay.
By Credit Cards Credit Score on Jan 29, 2009 | Reply
Thanks for the heads up on Credit One Bank credit card. I get offers from them too and was going to fill out the application but now I won’t. My credit is not good but 24% APR is outrageous!