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Which Credit One Bank credit card is best for you?

The bank offers options for every kind of cardholder

Summary

Whatever your credit history or spending habits, you should be able to find a Credit One Bank credit card that fits your needs.

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The following post has been sponsored by our partner, Credit One. The analysis and opinions in the story are our own and may not reflect the views of Credit One. Learn more about our editorial policy

Whether you’re looking to score big cash back rewards on everyday purchases or rebuild your credit after a few stumbles, Credit One Bank’s cash back rewards cards are worth a look. We’ve broken down four of Credit One Bank’s offerings – some just launched, some familiar – so you can decide if any are a good fit for you.

See related: How to prequalify for a Credit One Bank credit card

Credit One Bank credit cards: At a glance

 

Credit One Bank Platinum Rewards Visa

Credit One Bank Platinum Rewards Visa with No Annual Fee

Credit One Bank Visa Cash Back Rewards

Credit One Bank Visa Credit Card

Rewards rate
  • Get 5% cash back rewards on the first $5,000 of eligible gas, grocery, internet, cable, satellite TV, and mobile phone service purchases each year, and then 1% thereafter.
  • Get 1% cash back rewards in all other categories.
Get 2% cash back rewards on eligible gas and grocery purchases as well as mobile phone, internet, cable, and satellite TV services. Terms apply.

 

Get 1% cash back rewards on eligible gas and grocery purchases as well as mobile phone, internet, cable and satellite TV services. Terms apply.

 

Get 1% cash back rewards on eligible gas and grocery purchases as well as mobile phone, internet, cable and satellite TV services. Terms apply.
Annual fee$95$0$39$0-$75 first year, $0-$99 after that
Minimum Credit Line$500$500$300$300
Credit neededFair and aboveGood and aboveFair and abovePoor and above
Who should get this card?
  • Cardholders looking to maximize cash back rewards in the card’s eligible categories
  • Cardholders who want to earn ongoing cash back rewards on all other eligible purchases

 

  • Cardholders looking to avoid an annual fee
  • Cardholders who value simplicity
  • Cardholders who want to build their credit history without putting down a deposit
  • Cardholders hoping to rebuild credit
  • Cardholders looking for free credit monitoring tools

 

Best for maximizing cash back rewards with fair credit: Platinum Rewards Visa card

If a big chunk of your annual spending goes toward everyday staples like gas and groceries, the Platinum Rewards card could be a great fit. You’ll earn 5% cash back rewards on your first $5,000 in annual spending on eligible gas, grocery, internet, cable, satellite TV and mobile phone service purchases each year and 1% back after that. You’ll also get 1% cash back rewards on all other eligible purchases.

The card does charge an annual fee of $95, but its 5% cash back rewards categories line up very well with the average person’s spending habits, so you shouldn’t have much trouble making up for the fee with cash back rewards.

In a recent CreditCards.com poll, rewards cardholders pointed to grocery shopping as their most lucrative method of earning points and cash back, with grocery spending eating up more than $500 of their monthly budget. Following close behind in monthly spending was gas, with those surveyed spending around $150 per month at the pump.

Say you spent around $350 per month on groceries, $150 per month on gas and $200 total per month on internet, cable, satellite TV and mobile phone service bills. That would be $8,400 of spending per year, just in this card’s 5% eligible categories.

As a Platinum Rewards cardholder, you’d get 5% back on the first $5,000 spent each year, earning $250 in cash back rewards, plus 1% on the next $3,400, earning $34 in cash back rewards, for a total of $284 of cash back rewards, which more than covers the annual fee.

But don’t forget: The card also offers unlimited 1% cash back rewards on all other eligible purchases. If you spent just $300 on eligible purchases per month with the card, you’d add another $36 per year to your cash back rewards earnings, boosting your annual total to $320.

Additionally, while many competing 5% cash back cards require excellent credit to qualify, the Platinum Premier card is designed for cardholders with fair credit or above.

Best for budget-savvy users with good credit: Platinum Rewards Visa with No Annual Fee

While it can’t match the Platinum Rewards card’s 5% cash back rewards rate on eligible purchases, the Platinum Rewards Visa with No Annual Fee card could still be a fit for savings-minded cardholders. Not only will you get unlimited 2% cash back rewards on eligible gas, grocery and mobile phone, internet, cable and satellite TV service purchases, you won’t have to pay an annual fee.

Let’s crunch those numbers again: Say you spend $350 per month on groceries, $150 per month on gas and $200 total per month on internet, cable, satellite TV and mobile phone service purchases, for a total of $8,400. Since this card offers unlimited 2% cash back rewards in these categories, that comes to $168 per year in cash back rewards, with no annual fee to cut into your earnings.

If you have good credit or above and want to earn solid cash back rewards on some of your everyday spending without paying an annual fee, the Platinum Rewards with No Annual Fee card should fit the bill.

Best for no-fuss cash back with fair credit: Credit One Bank Visa Cash Back Rewards

You can qualify for the Credit One Bank Visa Cash Back Rewards card with fair credit or above, so it’s a good option if you want to build up your credit history without sacrificing cash back rewards. You’ll earn cash back rewards at a flat rate of 1% on all eligible grocery, gas and mobile phone, internet, cable and satellite TV service purchases, with no limit to the amount of cash back rewards you can earn.

Since you won’t have to do any complicated math to know exactly how much you’ve earned in cash back rewards, it’s ideal if you value simplicity and ease-of-use above all.

The card does carry an annual fee of up to $39, but this could pay for itself, depending on your credit limit. Even if you spent just $300 per month in card’s eligible bonus categories, you’d earn $36 per year in cash back rewards. This would put the cost of card ownership at a measly $3 per year – a small price to pay for the chance to build credit while avoiding security deposits.

And while you won’t earn cash back rewards on purchases outside of eligible grocery, gas and mobile phone, internet, cable and satellite TV service purchases, you can take advantage of Credit One Bank’s More Rewards program, a card-linked offer program, to boost your cash back rewards earnings by as much as 10% at select merchants.

It may not be the flashiest of the cards profiled, but the Credit One Bank Visa Cash Back Rewards card is our top pick if ease-of-use and steadily building your credit history are your top priorities.

Best for getting bad credit back on track: Credit One Bank Visa

When you’re trying to recover from past credit missteps, your options for a new credit card can be limited. You’ll have a hard time getting approved for most cards, and the ones you can get will often require you to put down a security deposit upfront while getting next-to-nothing in the way of rewards or cardholder perks.

The Credit One Bank Visa card, by contrast, offers a refreshingly simple cash back earning scheme and a chance to rebuild your credit with an unsecured card. You’ll earn 1% cash back rewards on all eligible purchases of gas, groceries and mobile phone, internet, cable and satellite TV service purchases, with cash back rewards automatically applied to your account each statement as a statement credit. If you’ve struggled with budgeting in the past, automatic cash back redemption could be a great “set-it-and-forget-it” way to reduce your balance and control your spending.

While the card charges an annual fee of between $0 to $75 for the first year and between $0 to $99 after that, it offers a minimum credit line of $300, regardless of your credit history. This will not only give you room to earn cash back rewards and thus chip away at the total cost of card ownership, but also help you keep your credit utilization in check – a key factor in credit scoring. Plus, you’re incentivized to stay on track, as you may be eligible for a future credit line increase if you demonstrate responsible card use.

The card also offers free online access to your Experian credit score each month and lets you check if you prequalify online without hurting your credit score, both essential perks if your focus is protecting and rebuilding your credit.

Bottom Line

Whatever your credit history or spending habits, you should be able to find a Credit One Bank credit card that fits your needs.

If you’re looking for an all-purpose card that helps you maximize cash back rewards with fair credit, the Platinum Rewards Visa card is a great fit. You’ll not only earn cash back rewards at a terrific rate in several categories of everyday spending, but also enjoy unlimited 1% cash back rewards in all other categories. Make the card your go-to payment method and its annual fee should easily pay for itself.

On the other hand, if you have good credit and would rather avoid an annual fee, the Platinum Preferred card is the smart choice, offering solid ongoing cash back rewards in popular everyday spending categories without charging an annual fee.

If you have fair credit or above and point to ease-of-use as your top priority, the Platinum Plus card should fit your needs, thanks to the simplicity of earning and redeeming cash back rewards.

Finally, if your focus is on improving your credit score and sticking to a budget, the Credit One Bank Visa is the obvious choice, allowing you to build credit without putting down a deposit or drowning in hidden fees.

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

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Credit Card Rate Report Updated: October 21st, 2020
Business
13.91%
Airline
15.50%
Cash Back
15.85%
Reward
15.75%
Student
16.12%

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