Credit One Bank

Allan Shutt, Robert Dejong and Narine Yenovkian of Credit One Bank defraud consumers by promoting a credit card that looks identical to Capital One Bank. In their solictations, you are told you will receive a credit line of up to $1, 000. It ends up being $300, with a monthly fee of $8.25 on top of the interest at 23.9.

When I paid off the alleged balance, which I dispute, it took two attorneys: both Allan Shutt and Narine Yenovkian to determine the final balance! Now they continue to report inaccurately.

This company is owned by the Sherman Group, the largest debt collector. LVNV debt collections and several other debt collectors are situtated adjacent to Credit One Bank at 585 Pilot Road. In fact, the collections manager for the bank also works for three other debt collection companies.

If you take issue with Credit One Bank, do a google search on "Credit One Arbitration" and you will find resources to combat Credit One Bank's deceptive practices and slimy attorneys, especially Allan Shutt.

This credit card company is the most deceitful I have ever seen! When I called to close my account, the Customer Service Rep said there would be no account closure fees while I was paying off the balance. I asked him 3 different times, and the answer was always a resounding "no." Got my statement and to my surprise I noticed there was a "closed account maintenance fee of $3.00." I immediately called and got the rudest CSR who said there was nothing he could do about it. I asked to speak to a supervisor and he was even worse! I explained what I was told the first time around and he said "We record every call and we will look into it." I asked if that meant they would get back to me or if I should call them back, to which his response was, "No, don't bother because we are not going to do anything about it." He was basically insinuating that I was a liar, but I remember nearly every word of my original conversation. Their customer service is absoltuely deplorable (not to mention you are talking with CSRs in an overseas call center). My advise is to avoid this company at all costs, unless you feel a compelling need to be a sado-masochist!

I received a credit card from credit one bank. I was not having any problems with them until I got married in 12/07 and requested a new card with my married name in 01/08. I have done what they have asked of me including cutting up my card & mailing it with a copy of the marriage license/photo id back to credit one bank and have faxed the docs 4 times. It is now 07/08 and I have yet to receive my card. I have been given the run around & am sick and tired of it. I would told it would take 2 days to process my new card then it would be rushed out immediately & I would have to be home to sign for it. Call back tomorrow to verify the fax was received. I did just that and was told they dont rush the cards and I would not need to be home to sign for the card. Are they going to pay me for the day of work I requested off already?! Nope! Dont think so! They must not care about keeping their word just as long as they get their money from us people once a month. When I spoke with the supervisor all he could say was "im so sorry. I dont know why they would say that!" well to me that reflects poorly on him as he is a supervisor and could do nothing to "fix" the situation except to tell me I would receive my new card in 7-10 business days. Very very very poor customer service!

I contacted them back in November when I discovered, upon reviewing my online statement, that someone had committed fraud using my card. I called them immediately and 5 times again to no avail. Yesterday on Feb 8th, 4 months later, someone finally called me from the Fraud Department who was completely unprofessional, rude, disrespectful and she could care less that I was a victim of any fraud violation. Not only that, she placed the fraudulent charges back on my account because "I didn't respond in a timely manner" in the middle of the holiday season (letter dated 12/15!) when I was out of the country! Are you kidding me? Why is it the victim continues to work their ### off trying to clear someone else's mistake? In the middle of all of this, my husband's mother passed away during the holidays and when I shared this with them explaining my already stressed out situation, no apology or anything was offered. This clearly reflects their total and complete lack of professionalism let alone humanitarianism.

When this happened to me years ago with American Express, it was cleared up within 24 hours and their CSR's were the epitome of true and caring employees. Shame on Credit One. I hope they go out of business before the end of 2008.
This company will NEVER survive. One can only pray...

Credit One Bank's unfair billing practices as described by many patrons throughout this website and other complaint boards.

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 [protected]@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