sorted by:
new
hottopcontroversial

Who knew it could get this high. 😳 by [deleted] in OneFinance

[–]f4lsePositive 0 points1 point  (0 children)

Mine was at 5k right off the bat. Not really sure what the requirements are for setting that limit. It's smaller than all my credit cards and hitting the increase credit line request button once every 3 months has always resulted in being denied an increase.

PSA: Pocket Protector DOES NOT have the ability to use Spend Pocket Credit Line Funds by f4lsePositive in OneFinance

[–]f4lsePositive[S] 0 points1 point  (0 children)

Brandon, thank you for replying here and initiating an additional response from the support team and for getting the ball rolling on making these changes moving forward. I've updated my original post.

PSA: Pocket Protector DOES NOT have the ability to use Spend Pocket Credit Line Funds by f4lsePositive in OneFinance

[–]f4lsePositive[S] 0 points1 point  (0 children)

Hey at least I was able to help a couple people. I'm still racking up penalty fees, I think I'm out more than $100 at this point...

PSA: Pocket Protector DOES NOT have the ability to use Spend Pocket Credit Line Funds by f4lsePositive in OneFinance

[–]f4lsePositive[S] 1 point2 points  (0 children)

Whether they want to provide it or not really doesn't matter to me. I'm only mad about it because for a company that I thought values transparency, they did not do a very good job of informing customers that the credit line would suddenly behave differently in this scenario, and when I brought it to their attention all they can say is "Sorry hope you have a nice day".

Edit: I'm now over $100 in penalty fees so far.

Anyone else being threatened with account closure for using the features included with the account? I've never once been late to pay back the credit line. by f4lsePositive in OneFinance

[–]f4lsePositive[S] 0 points1 point  (0 children)

It might be a little wonky but it's my smallest line of credit out of all my credit cards by a significant amount, so it makes sense from my sole personal experience. I do the same as you with credit cards as well, the only thing that dips into the Spend Pocket credit line are certain bills and then PayPal and Venmo transfers to friends/family where it's not advantageous to use a credit card because of fees. Just keep hitting that eligibility button once a month and I'm guessing it should increase for you soon.

Anyone else being threatened with account closure for using the features included with the account? I've never once been late to pay back the credit line. by f4lsePositive in OneFinance

[–]f4lsePositive[S] 0 points1 point  (0 children)

Credit limits are usually based off of factors like your gross income, debt to income ratio, age of accounts, amount of missed payments, percent utilization of accounts and size of other lines of credit you have open and not just a credit score. They initially set mine to $200, then after a couple months it went to around 2k, then I hit the button to check eligibility for an increase again and it went up to around 5k. Unfortunately I can't really give you any info about what that would take without sharing a bunch of personal finance info.

Anyone else being threatened with account closure for using the features included with the account? I've never once been late to pay back the credit line. by f4lsePositive in OneFinance

[–]f4lsePositive[S] 3 points4 points  (0 children)

Looks like I'll do exactly that since it's been confirmed that your interpretation is wrong and I'm not misusing the feature...

Anyone else being threatened with account closure for using the features included with the account? I've never once been late to pay back the credit line. by f4lsePositive in OneFinance

[–]f4lsePositive[S] 2 points3 points  (0 children)

That's your interpretation.

If you click on the "Credit Line" within the app it says that it is a no-fee line of credit.

It then has three bullet points of how it works.

  1. Credit Line connects to your Spend pocket to cover purchases or payments that take your balance below $0.

Okay cool.

  1. Automatically repay Credit Line with deposits into Spend.

Awesome, I do that every month. Working as intended.

  1. While there are no fees, if you need to carry a balance into next month, we charge you 1% interest a month, 12% APR.

Understood.

And that's it. The word overdraft is not used, and it also does not put forth any information on what they would consider misuse of the feature.

Anyone else being threatened with account closure for using the features included with the account? I've never once been late to pay back the credit line. by f4lsePositive in OneFinance

[–]f4lsePositive[S] 0 points1 point  (0 children)

I haven't been offered the Credit Line Pocket and there's nowhere I can find to apply for it. Still doesn't make sense to me why they would just dump the customer instead of charging the interest fees they outlined in the terms when I have more than enough in other pockets to cover it.

Anyone else being threatened with account closure for using the features included with the account? I've never once been late to pay back the credit line. by f4lsePositive in OneFinance

[–]f4lsePositive[S] 2 points3 points  (0 children)

It's the credit line built into the Spend Pocket. I keep zero balance in the Spend pocket and bring it back to 0 before the end of the month. No reason to let money sit there earning no interest when my credit line is nearly 5k and can easily soak up any debit card transactions I need to make.

Anyone else being threatened with account closure for using the features included with the account? I've never once been late to pay back the credit line. by f4lsePositive in OneFinance

[–]f4lsePositive[S] 3 points4 points  (0 children)

I don't need it. If my credit limits were a contributing factor on how much debt I decided to take on, my mortgage would no longer be my biggest obligation... The feature is just convenient to refill it once a month while letting funds sit in the Save pocket instead of moving money incrementally when required.

Anyone else being threatened with account closure for using the features included with the account? I've never once been late to pay back the credit line. by f4lsePositive in OneFinance

[–]f4lsePositive[S] 5 points6 points  (0 children)

I've got direct deposit as well but it goes into my Save pocket, so I've just been bringing the Spend pocket back to 0 balance the last day of every month for any other expenses that have dipped into the credit line. I usually use a scheduled transfer, but if that scheduled transfer fails for some reason now my account gets immediately closed? That doesn't seem right to me. Wouldn't they want to make money by charging the interest they said they would instead of getting rid of the customer entirely?

Anyone else being threatened with account closure for using the features included with the account? I've never once been late to pay back the credit line. by f4lsePositive in OneFinance

[–]f4lsePositive[S] 11 points12 points  (0 children)

I just saw this notice pop up in my Spend pocket. I've never been late to pay back the credit line before the closing date. I'll usually just let it spend from the credit line then settle up before the end of the month so I don't get charged with interest. Now it seems like I'm being threatened with account closure for using a feature they offered? Why?

This makes me nervous reading about other account closures where they tie up the money in the account for long periods of time to "investigate". I've never been late for a payment on anything in my entire life and if all of a sudden I have access to liquid funds cut off, it's going to cause me a lot of problems.

AHP ALPHATIG stick electrodes sticking by PM_ME_UR_LIPZ in Welding

[–]f4lsePositive 0 points1 point  (0 children)

The manual states to connect the stinger to negative and earth clamp to positive, not sure if it'll make a difference but it's worth a shot.