Credit One Bank review: fraudulent billing practices! 173

Relax Deborah, they won't be anywhere near suing you until you actually start hearing from a collection agency or attorney doing physical business in your own home state. And even if they do eventually sue you, that is simply a judgment, they still have to collect it, and in your case, sounds like that would just mean more annoying phone calls. Just hang up on them and don't take it so personal. Or act like you don't understand their english when they call you, I have had fun with that. You call America? Hello? I sorry, I do not understand. Huh? What?

How about just paying your bills. Yes they are charging fees. All credit card companies charge fees. You agreed to those fees when you accepted the card. Quit whining and pay the debt you owe.

I came to this website seeking information via google on Credit One. I received an offer in the mail and wanted to make sure the bank is not some type of scam, so I am grateful for there being a communication board.

While we ALL understand how important it is to pay our bills, simply put: life happens and in a heartbeat a job can be lost or a death of a spouse that supports the monthly needed income which can have detrimental effects on our budgets-- and then comes DEBT. People such as the person who tells you to pay your bills hasn't experienced that-- and let's hope that "what comes around goes around" will not come back to bite them in the butt! No matter the circumstance-- life happens, and we all are presented with challenges in life.

Jim Edward's comments above are very much so accurate, so I hope you find some relief and comfort in all of that. If you ever find yourself in this situation where the debt has eventually gone to a collection agency-- they are more than likely to work out a promising repayment plan. If not, and circumstances begin to get out of control-- contact your local FDCPA attorney. They can usually be found on the web. :) CHIN UP!

Credit One Bank received my payment, cashed my check, then did not credit my account. I sent them a copy of the check, a bank statement from the bank, a copy of the bank manager's card and a letter. Then Credit One told me that another company had cashed the check. Because we are a law firm, our mail is picked up by a private company and delivered directly to the post office. I also use unwashable ink on my checks to prevent theft. I don't think so. It has been over a month and I am still being harassed by phone calls, up to four a day, by Credit One. It took 13 faxes to get a response from someone, and then they tell me that another company cashed the check. I find this highly implausible when my copy of the check still says Credit One Bank. I am still considering my next steps which include the Better Business Bureau, an investigative reporter and a possible lawsuit.

Look this is not a bank----this is a very high risk CC company------they charge you to even make a payment cause no "real" bank will work with them on setting up a no fee to them fix-----what you should do is apply for a loan thru a bank or simply stop paying them and let the court set up payments for you and the judge can impose a "no fee" and freeze the amount owed where all the money you send in via court order will be applied as princible and no interest will be charged----people please read the small print when dealing with these types of high risk companies----they in the bussiness to make money off of people that have had problems with thier credit in the past----and to the smart guy that posted "just pay your bills" ---everyone including you sir has or will have problems sometime in thier lifes with paying bills----so I hope you get thru this and in the future deal with "real banks" only when you need to get a credit card not these very high risk ones. Thank you

I've had a card from them for awhile now and so far all seems well. But, I can't seem to get their website online. I've tried and tried and tried and googled and yahoo searched, but to no avail. It comes up that there isn't such a page. So, if anyone can send me the link I'd appreciate it. Thanks.

You may not like the rules but you did agree to the terms and conditions of the credit card. If you did not read the terms and conditions before you got the card that is your fault. You need to take responsibility for your actions!

I came to this site because credit one bank sent me a letter
saying I can settle my account, to send a certain amount of money.

The thing is, I never had a Credit one bank account. I called and asked them why they sent me the bill. he confirmed my name and SS# and said some credit card #. I looked at my old credit card and the numbers didn't match, then I realized my credit card is Capital One Visa, not credit One bank. I asked the man on the other end if Capital One Visa and Credit One bank are the same and he said no. I said, Well then you made a mistake r someone committed fraud. He told me I still have to pay it unless I prove it is not me. I said, I have never had another credit card besides Capital One Visa, and a prepaid one.
I am planning t pay off my Capital One visa, and if this was a letter from them, I would pay it... what gets me is he told me I have made a payment of $20. on the card on a certain date, and I for the life of me can't remember ever paying for something I don't have. Any advice on this one?

They do not post payments on time. Online payments should not take over ten days. They also try to come up with lame excuses as to why it did not process. Funny all my other online payments went through just fine. I also have my online receipt of payment for proof. They are trying to be sneaky and charge you fraudulent late fees. They tried to charge me a 29.00 late fee. Little do they know not everybody was born yesterday. Total ### that take advantage of low income or bad credit citizens. The web site is so ridiculously slow on updating payments. (not surprising because of how sneaky they are. The only reason I got the card with a low limit was to build my credit back up. I am paying the balance and canceling my account. NEVER DO BUSINESS WITH NO-NAME CREDIT COMPANIES... VERY SHADY BLOODSUCKERS... THE BETTER BUSINESS BUREAU SHOULD SHUT THE COMPANY DOWN! ONLY IN AMERICA... GOTTA LOVE IT... CORPORATE PIGS!

TO MR. JUST PAY YOUR BILLS WELL WE DID JUST THAT. PAID THE CARD OFF THEN HERE THEY PRESENTED FEES AND MORE FEES TO THE TUNE OF 139.00. THE CARD WAS PAID IN FULL. THEN THEY TOOK A PAYMENT FROM MY CHECKING ACCOUNT WITHOUT AUTHORIZATION. THE FEES WERE BOGUS THE COMPANY AND THINK TWICE BEFORE YOU DO BUSINESS WITH THEM EVER. I HAVE TO CLOSE MY CHECKING ACCOUNT BECAUSE IF THEY DID IT ONCE NO TELLING WHAT THEY WILL DO NEXT. CLEAN IT OUT! I AM ALSO FILING A COMPLAINT WITH THE BETTER BUSINESS BUREAU.

I have been monitoring this and posts like this for some time since my disagreement began with Credit One. I have also posted reports on sites like /link removed/ From Deborah's post and the following comments:

I believe in all that support the belief of Credit One's fraudulent billing, pyramiding late charges, and predatory lending practices. I have been with this bank well over 4 years. Like millions of Americans, I had slow credit and I submitted to an offer from this bank, as they prey people with slow, no, or bad credit simply because we're vulnerable. We felt left out in a nation and world that pushes the idea of credit upon everyone, and if you don't have it, you're nobody. I disagree. You don't need credit to survive. Break away from these people and YOU will have more power of your future, I guarantee it.

My situation: I was just around a balance of $220 out of a $500 credit line by Credit One when I had problems financially and work. I did what I can to cover the necessities but a lot of my bills and credit cards got out of hand. I am a fighter and sucked it up, paying what I can and getting back to my feet. For my credit cards, I enrolled all of them in Consumer Education Services, Inc, a Care One Credit service for helping consolidate my credit cards and pay them off. CESI worked with me well and negotiated substantially lower interest rates, and set me up with a payment plan on my cards. Within a few months, I was on schedule and pretty much back on my feet. Every card accepted my proposal and worked with me no problem except Credit One. They refused every proposal CESI sent them and refused to work with me in helping to pay them off. I admitted I fell behind, had problems but was willing to settle and most of all PAY THEM. I just wanted to have them stop their charges so I can work on negating the principal. They refuse every time and there is a new charge on my card every other week. I pay them every month still, and yet they charge back more on my account than I'm paying them. It's called Pyramiding Charges, and it's against consumer rights according to the FDIC. Now I am in a situation where I am attending school, paying health insurance, working full time, paying a car & insurance along with several housing and utility bills. Not that I'm crying for help because I do what I have to do. Just Credit One's refusal to work with me, and still charge me ridiculous charges seems unfair. Yes, I accepted the card and agreed to the conditions, but why weren't charges such as a "closed account maintenance fee" in the Terms? You find it let me know. I will be writing my full story and follow up on this bank. Please email me for more details.

To all those who simply say "pay your bills" and "it's your fault," I say you are ignorant. You are ignorant to post such a thing because you don't understand the situation, and your knowledge of it shows. This is obviously happening to more people than anyone can keep up with. Google "Credit One Bank Complaints" and see how many results you get. They have an "F" rating with the BBB and every other Consumer Complaints Board that looked at them. They are NOT a legit Bank, and the practices they use are not only fraudulent and predatory, but they're wrong. This company should not be in business. To simply say they can get away with it because it was in their "Terms & Disclosures" is wrong because A)They are not accurate, and B) They do not disclose changes in their polices as required by the consumer rights by the FDIC. They simply leave it open to "can change without notice." They use loopholes to jump through the system and that's how they can get away with it. Email me to challenge me on it, I not only welcome it, but encourage it. I did my research. They violate several rights on the FDIC. Check them out on this page: http://www.fdic.gov/consumers/consumer/rights/index.html.

The only way, we as consumers (AKA: the powerless) can do anything is by petitioning to the government, and attacking them at a "customer service" level. Their refusal to follow up disputes, work with customers, work with agencies such as the Better Business Bureau, their call center agents' knowledge of the business, and their lack of customer commitment is the way, en masse we can effect them. On Credit One's website, their customer service motto states:

"Our Customers
We are proud of our accomplishments as a company, and perhaps just as important to us is the genuine concern and attention we strive to show towards every one of our customers. We are dedicated to serving the needs of our customers with superior customer service." -Credit One Bank

Is it just me, or is there anyone else that not only disagrees with that statement, but has felt Credit One has not lived up to that statement in you dealing with them? I am in the process of creating a petition, and a beginning a report on all who have been affected by the wrongful business practices of this bank. They must not get away with these practices and prey on the hard-working consumers who just want a fair credit card company, and wish to not hurt their credit, but work past mistakes and be on the way to establishing good credit.

It is hard enough to survive and make a living as a working-class citizen without companies like this taking waste money from you to feed their corporate CEOs and officials. Enough is enough. I ask all who have been affected by this bank to email me at MAPLE2008@aol.com to share their story. With each series of complaints I will forward them to the FDIC, FTC, BBB, and other government agencies in charge of funding, insuring, and governing these corporations. The only way we can do anything is with everyone's help. Stop throwing your rent, food, clothes, gas, insurance, mortgage, utilities, and overtime pay to these greedy companies who are in business not to help you, I promise, but to harm you and take whatever they can from you before people start speaking up. It's NOT OK to just sit back and let them ruin your credit and take YOUR working dollars. Don't listen to people who tell you to do nothing. Don't be afraid of companies like this. Please email me and together we can work to alleviate one of these companies from crushing us with their fraudulent charges. Don't be taken advantage of. This is not a case of only a handful of people being robbed by this company, this is THOUSANDS of people. Read the reports online, I'm not making this up. If we expose this company for who they are and especially to the media, and once people know who they are, WE as consumers have the power to stop them, but only if you fight.

I do thank you for reading this post and I thank everyone in advance for any support. Please, I do not wish to be emailed by people who will only say "just pay them" that's not what this is about. Keep your advice to yourself. If you tell people to "just pay your bills" you must not have it that hard, so how about sharing a little dough with the rest of us? Keep those things to yourself. Mistakes happen, accidents happen, and unfortunately people get in debt. You're not alone. But fessing up to those mistakes and fighting back can make a difference. This company cannot ignore everyone and together as consumers, we can make a difference.

Please join in the new Members Against Predatory Lending & Extortions (MAPLE). I am asking for only those consumers who have been taken advantage or feel they have been taken advantage of by this Credit One Bank company. You're not alone .. help yourself, and help others now.

Thanks for listening, please email me for any updates and questions on MAPLE.

Matthew Decker.

I payed off my account and called to close. MY ACCOUNT WAS PAID IN FULL! All of a sudden, the next month, I get a bill for $5.95 for "monthly service charges". So, I went online and paid it figuring it was my final payment... no big deal. Well, get this... I just now received a bill for $6.00 for a "direct check fee"! Are you kidding me? I didn't even pay with a check, I paid with my visa check card! Well, as I type this complaint, I am sitting on hold waiting to speak with someone in regards to this FRAUD! Very VERY horrible company to get involved with!

Hey - I work for Credit One Bank and let's start by clearing up a few things. The whole point of this card is to help those rebuild their credit. Plain and simple. Yes, the APR is high, but at the same time, no one else will touch you - so it's either this...or another card just like it. The payment processing fee is a hot topic I see. What people do NOT SEEM TO UNDERSTAND is that it costs money to process those payments. Since we are not a part a huge corporation, we foot the bill for all payments done via phone or web. There are free options though...like...mailing in your payment 7-10 days before your due date, using a bill pay service through your bank, MoneyGram & Western Union.

As for other complaints...we do not prey on the unsuspecting public. We send out pre-approvals to those who qualify. No one is putting a gun to your head to accept the offer. When you get the pre-approval letter, you were "pre-approved" at that time. However, something could change on your credit report within the time of the mailer being printed and mailed out and you applying. Maybe a collection account appeared since the "soft pull" was done, maybe you were late on a payment..who knows. Anyone with common sense knows when you accept a pre-approval offer, your credit report will get pulled to see if you qualify. It is a application for credit. Plain and simple.

Now, let's break down these fees that people seem to disagree with. Keep in mind - they are listed in the Terms & Conditions on the pre-approval, the disclosure information when the card arrives and on the website. If you don't agree with the terms...then don't apply. Once you activate the card, it is considered a legal contract and you accept all fees incurred. It is not anyone's fault but your own if you do not read these.

Enrollment Fee - $69. Standard fee, one time only that covers the cost of setting up the account and is also standard with cards like these.

Late Fee - $29. Your payment is due 25 days from your statement cycle date. That also is stated on the Terms & Conditions. If your payment is not posted to your account by Midnight Pacific Time on your due date, you are assessed a late fee. We have no control of the US Postal Service. Any rep will tell you to give 7-10 days before your due date to allow for mail time. If you can't manage that, change your billing due date to make it easier for you. Now, MoneyGram and Western Union post to your account the same day payment is made. Debit Cards post same day to your account as well. Debit Cards have a cutoff time of 2pm PST to post same day. MoneyGram is 2pm PST as well and Western Union is 1:30pm PST. Any of those payments received after the cutoff times will post the next business day and backdate to the day the payment was received. ACH payments or "electronic checks" will post within 48 hours of the payment being made. Reason why is that the checking account has to be verified before payment can be posted. Why would we post a payment from a closed account? With debit cards, we get instant authorization. For compliance reasons, we state this on the website and when you pay by phone. If paying by ACH is the way you want to pay, then make it 48 hours before your due date to allow for this verification. If the payment was received on your due date and a late fee bills, just call us and we will remove it. You will be educated on the posting times for ACH payments and given advice to pay your bill 2 days before your due date. Also, if your statement states your minimum payment is $20 and you pay $10, you will be assessed a late fee. Your minimum payment is required by the due date to avoid any late fees.

Overlimit Fee - $29. Here is how to avoid this - DO NOT GO OVER LIMIT! Keep track of your balance and do not ride your limit. Easiest way people get overlimit is by maxing the card out the first day they get it and just make the minimum payment. Well, when your statement bills, you get your finance charges on the balance you carry from one statement to the next. Also, the annual fee of $5.75 . I tell people to leave $30. of available credit so these fees can bill and not put the card over limit. Each card has a "threshold" of $40 - Meaning, you can go overlimit by $40 before an Overlimit Fee is billed.

Annual Fee - $5.75. Our yearly fee of $69 broken up into monthly installments. This bills like this for one reason: By having this fee bill every month guarantees activity and therefore requires a payment to be made. This allows the bank to report to all 3 credit agencies on a monthly basis. Besides, if you cancel before the year is out, you only pay the months you had the card. You are not out the entire $69 fee. A lot of cards like ours have you pay the enrollment fee and the yearly fee up front.

APR (finance charges) - Don't carry a balance and you won't pay the interest. Gee. What a concept.

In closing,

This card is not for everyone. By making your payments on time, by not going overlimit, and keeping this card under control, you will rebuild your credit faster. It has been proven and done numerous times. However, if you get the card and max it out, late on payments and so forth...you only hurt yourself and you are responsible for ALL CHARGES INCURRED. Limit increases are given to those who take care of the card and pay their payments on time and never go overlimit. That is common sense. Why would a lender give more money to someone who can't handle the current loan amount?

Just an F.Y.I though - and this is listed in the Terms & Conditions as well. The day your statement cycles will be the same each month. The statement is a "snapshot" of your account on that day and that is what gets reported to all 3 credit agencies.

Now,

If the account is late, overlimit...the account is going to be transferred to a 3rd party to assist us in getting payment or getting the account back under limit. The calls are set on auto-dial and comply with each state's laws. We can call as many times as allowed by law to get payment. It is a debt you owe, so we are trying to get the monies owed. If you don't want collection calls, pay your bill. Pretty simple stuff.

Reason for this response is because I am sick and tired of people NOT READING ANYTHING before they sign up for something, and thinking this is free money and wonder why they have a bill.

Oh yea..Cash Advances.

23.9% per day until the advance is paid in full. Also, the fee for a cash advance is $5 or 4% of the advance amount. Also, the fees assessed by the ATM you use will not be cheap either.

A payday advance is cheaper.

a $20 Cash Advance will cost you $28 including all the fees. If you carry that over, the APR keeps adding up.

Pretty simple stuff. If you just read the T&C and are responsible with credit.

Also - we are audited every year by the Office of the Comptroller of the Currency...and we pass the audit every year with flying colors. They determine if we are open for business or not.

In the way of debt consolidation agencies and Credit One Bank not participating in the program - The account needs to be current before going into debt consolidation. If you are current, no problem. If you have not paid your bill in 6 months...ain't going to happen. Read the letters you and the agency you are working with when the proposal is declined.