Jhobart
Croydon,#2Author of original report
Thu, October 18, 2007
With respect to "Ms. A", I do not know if you are employed by Credit One Bank and tasked with countering charges made against them on this website, but it appears that is likely the case. Why someone would jump to the defense of Credit One Bank I cannot imagine. It is difficult in the extreme to zero your account with Credit One Bank. They are not forthcoming with respect to the fact that if you pay them by phone they charge an additional fee which you are not permitted (by them) to include in your payment and must appear on your next statement. This is completely independent of whether you close the account or not. If you pay them by mail they will, as a rule, take so long to "process" the payment that it is likely to post late and leave additional late fees on your account. Should you find yourself unable to get Credit One Bank to close your account with a zero balance please *do* contact the Federal Reserve Consumer Help division and file a formal complaint. We have reviewed the Terms and Conditions from the lender and while they do stipulate an impressive list of charges, they don't make any mention of the deceptive practices they use to maximize the chance you will be left with a small charge on your account. While they may follow the letter of the law (I don't really know) they are definitely not acting in the spirit of it. It is only through effective use of state and federal agencies set up to police the actions of unscrupulous lenders that we (as consumers) can protect ourselves from companies like this one. There exist sub-prime lenders with which people with new or damaged credit can begin to build a credit rating. Credit One Bank is not a good choice for doing so though. They're more likely to do you harm than good in the long run. Best to all! J
Jhobart
Croydon,#3Author of original report
Thu, October 18, 2007
With respect to "Ms. A", I do not know if you are employed by Credit One Bank and tasked with countering charges made against them on this website, but it appears that is likely the case. Why someone would jump to the defense of Credit One Bank I cannot imagine. It is difficult in the extreme to zero your account with Credit One Bank. They are not forthcoming with respect to the fact that if you pay them by phone they charge an additional fee which you are not permitted (by them) to include in your payment and must appear on your next statement. This is completely independent of whether you close the account or not. If you pay them by mail they will, as a rule, take so long to "process" the payment that it is likely to post late and leave additional late fees on your account. Should you find yourself unable to get Credit One Bank to close your account with a zero balance please *do* contact the Federal Reserve Consumer Help division and file a formal complaint. We have reviewed the Terms and Conditions from the lender and while they do stipulate an impressive list of charges, they don't make any mention of the deceptive practices they use to maximize the chance you will be left with a small charge on your account. While they may follow the letter of the law (I don't really know) they are definitely not acting in the spirit of it. It is only through effective use of state and federal agencies set up to police the actions of unscrupulous lenders that we (as consumers) can protect ourselves from companies like this one. There exist sub-prime lenders with which people with new or damaged credit can begin to build a credit rating. Credit One Bank is not a good choice for doing so though. They're more likely to do you harm than good in the long run. Best to all! J
Ms. A
Las Vegas,#4UPDATE EX-employee responds
Thu, October 18, 2007
F.Y.I.....If you have a remaining balance of any kind you will continue to acrue fees on ANY credit card. With Credit One, you will be assessed a closed maintenance fee until you reach a zero balance. Also, if you are late you will receive a late fee. DUH!!!!!
Jhobart
Croydon,#5Author of original report
Thu, October 18, 2007
We record our phone conversations with them. You're required to ask if they consent to having the phone call recorded. They will always hang up immediately if they are informed you're recording the call.
Jhobart
Croydon,#6Author of original report
Thu, October 18, 2007
We record our phone conversations with them. You're required to ask if they consent to having the phone call recorded. They will always hang up immediately if they are informed you're recording the call.
Jhobart
Croydon,#7Author of original report
Thu, October 18, 2007
We record our phone conversations with them. You're required to ask if they consent to having the phone call recorded. They will always hang up immediately if they are informed you're recording the call.