Credit One Bank Review

By 0 No tags Permalink 0
The products offered through Credit One Bank are a bit of a double edged sword. They offer people a chance at a credit card when no other company will give them one, meaning that anything received from this organization is going to have very high interest rates when compared to many of the credit products offered through popular banks like Capital One, Bank of America, Wells Fargo and so on.

This being said, the credit cards offered by Credit One Bank will see interest rates that range from high teens to high twenties in percentage, which can end up costing hundreds of dollars for those who only pay the minimum toward their accounts. These high interest rates will also ensure that those individuals will also be paying the minimum balance long after any credit card from Credit One Bank has actually expired.

You may allso be intrested on Credit One Bank payment methods and login guide

And that is precisely where our problems with Credit One Bank start. Even in the nicest terms, what this bank is doing by offering practically anyone these cards is taking advantage of the customer. At worst, their business practices might be illegal in a number of the places they operate in. And whatever you want to call it, we think they are a predatory company that preys on those unfortunate enough to have been hit with bad credit or a difficult financial situation.

What is very important to note, though, is that you will actually already have to be having hard times with money to even have the chance to get a credit card from Credit One Bank.  The reason that this is the case is because you have to be invited by Credit One to apply for one of their cards, there simply is not an easy to go to their website and fill out a card application, and you certainly are not going to find a real Credit One Bank popping up anytime soon.

Is This a Trick?

Whatever the case, it seems that many individuals feel like they have been tricked into applying for a Credit One Bank credit card due to the simple fact that the company certainly seems to be trying to trick potential cardholders into believing that they are Capital One. And why wouldn’t they? The logos and coloring are remarkably similar. However, we also believe that people need to be more aware of what they are doing in their financial lives, so this does not necessarily count as a strike against Credit One Bank, but it by no means is a plus on their behalf considering that, yes, it does seem a little shady the way they have designed their graphics – to the point that we would be hard pressed to call the stylings an accident by any means. Nevertheless, we do believe that many people do not take enough caution when approaching new lines of credit, and this article should stand as a warning to those who do not check and double check everything having to do with their money.

After all of the high-interest pitfalls associated with getting a credit card through Credit One Bank, let’s move on to the reports about the company’s customer service. One look at the Consumer Affairs page for Credit One and you can tell something is surely lacking in the customer service department. In fact, they barely have more than a single star in the overall satisfaction rating on the page, and the lowest number of stars available is one, meaning pretty much every single rating out of the 457 on the site rated Credit One Bank with a single star. Now, if you are thinking that might be circumstantial and that the people who use Consumer Affairs might hold businesses (and banks) to a higher caliber of customer service and that the low rating is due to that, you will be sorely surprised when looking anywhere else at Credit One Bank reviews.

Along dozens of review sites, the same story can be seen time and again from disgruntled customers of this creditor. There is report after report of people being hung up on, threatened, denied basic services and more, and these remarks spread across numerous sites through thousands of reviewers. It paints a bleak picture, for sure.

Conclusion

So, overall, we here at About Bill Pay simply can’t recommend doing business with Credit One Bank. Our biggest fear, really, is that this review will come far too late for most people as they will only look up information like this after their first bad encounter with a company. If, perchance, you read this while having a credit card application invitation that you have yet to act upon, please heed our advice and do not file for a credit card through this organization. Even in the best of the reviews, you are still going to have a painfully high interest rate and that’s not even worth dealing with a company with good customer service.

No Comments Yet.

Leave a Reply

Your email address will not be published. Required fields are marked *