Credit One Bank's Settlement: What You Need to Know

Credit One Bank, a prominent credit card issuer in the United States, has been embroiled in legal troubles for several years due to accusations of unfair debt collection practices. A pivotal class action lawsuit against the company has culminated in a substantial settlement, with payments now being distributed to qualifying individuals. If you have ever managed a Credit One account or endured unwanted collection calls, you might be eligible for compensation.

The lawsuit asserted that Credit One and its associated debt collectors engaged in unauthorized robocalling to customers’ cell phones using automatic dialing systems, breaching the Telephone Consumer Protection Act (TCPA). The TCPA restricts companies from using auto-dialers or prerecorded messages to contact consumers without their explicit consent ahead of time.

The lawsuit highlighted that millions of such calls were made by Credit One and its partners from 2014 to 2019. These calls were not only frequent but allegedly persisted even after consumers demanded they cease—another clear violation of federal law. Instead of admitting liability, Credit One chose to settle the case, allocating millions for compensation to affected individuals.

To qualify for a payment, you must have received calls from Credit One or its debt collectors during the specified period without having given prior consent. Specifically, this includes:

• Receiving a robocall or prerecorded message on your mobile phone.
• The call originating from Credit One or its associates between 2014 and 2019.
• Lacking prior express consent for such communications.

Potentially eligible class members would have received a notification. Nevertheless, if you did not get such a notification, you can still check your eligibility by visiting the official settlement website or reaching out to the settlement administrator.

The settlement fund totals around $14 million. Individual payments will vary based on the number of legitimate claims submitted. Early predictions suggested payouts of about $100 per claimant, although the actual amount may adjust depending on the response rate.

To stake your claim:

1. Visit the official settlement website (typically something like www.CreditOneTCPASettlement.com).
2. Use the Claim ID and PIN found in your notice, or confirm your identity via an online lookup tool.
3. Ensure you submit your claim by the deadline—typically within 60 to 90 days post-notice.
4. Select your preferred method of payment: check, direct deposit, or PayPal.

Missing the deadline for claims will result in losing your right to payment. If you disagree with the settlement terms, you also have the option to opt out or oppose the settlement within a specified timeframe. All deadline details are clearly stated on the settlement website and within your official notice.

This class action underscores the significance of consumer rights and the impact of collective legal action. If Credit One’s alleged robocalling affected you, be sure to confirm your eligibility and submit your claim before the deadline. Every dollar matters, especially when it comes from entities that may have breached legal parameters.