A guide to Credit One credit cards
Credit One Bank is a major leader in the credit card industry with humble beginnings that has expanded quickly into a national authority. For 35 years, Credit One has provided consumers, primarily within the fair to good credit range, with well-rounded and accessible credit card options that offer cash back rewards on everyday purchases.
Here, we delve into Credit One Bank and what their cards can offer you:
Editor’s picks: Credit One credit card details
Credit One Bank® Platinum Visa® for Rebuilding Credit: Best for bad credit
Why we picked it: If you have a bad or fair credit score, it can be difficult to find a well-rounded card in your credit range. Luckily, this card accepts a generous range of credit scores (300 to 670), allows you to check if you prequalify, doesn’t require a security deposit and comes with valuable perks.
Pros: There’s no set schedule, but your account will be automatically reviewed for credit line increases – an essential to improving your credit utilization (and your credit score). To regularly track your score, you’ll have access to a free Experian credit score and report summary every month. Cardholders also earn 1% cash back on eligible gas, grocery, mobile phone service, internet, cable and satellite tv purchases (terms apply).
Cons: The card starts with a low credit limit at just $300 and if you were to carry a balance, you’d face a high APR (23.99%, variable). The annual fee is $75 the first year and $99 in subsequent years. If you have good or better credit, you can likely be accepted for a more valuable card with better rewards.
Who should apply: This option’s ease of approval, credit-building benefits and cash back rewards make it a good starter card for those trying to climb towards good or excellent credit.
Read our Credit One Bank® Platinum Visa® for Rebuilding Credit review.
Credit One Bank American Express® Card: Best for fair credit
Why we picked it: This is a solid, low-cost card for those with fair credit looking to strengthen their overall credit health. Credit One and American Express have paired to offer low fees and a straightforward rewards structure of unlimited 1% cash back on all purchases (terms apply). Its simplicity gives this card a lot of value.
Pros: This card gives the opportunity to raise your credit line based on your overall credit performance and free access to your Experian credit score, two useful tools for improving your credit score. Plus, if you’re interested in applying, but worried about your credit taking a hit due to uncertain approval odds, you can check online to see if you prequalify with no impact to your credit score.
Cons: The card comes with a regular APR of 23.99% (variable), making it extra important to be sure you avoid carrying a balance. The card also comes with an annual fee of $39, so you can find more affordable, more rewarding cards if your credit score allows it.
Who should apply: Those looking for consistent rewards from a card that can help you get started on the path to a good credit score should consider this option.
Read our Credit One Bank American Express card review.
Credit One Bank® Platinum Rewards Visa: Best for rewards
Why we picked it: This card offers a lavish rewards structure that’s hard to beat among other credit-building cards: Earn 5% cash back rewards on eligible gas, grocery, internet, cable, TV and cell service purchases (up to the first $5,000 in purchases per year, then 1%).
Pros: You still earn 1% cash back on purchases that don’t fit the bonus categories (terms apply), making every eligible swipe worth something. Plus, you’ll get a whopping 10% cash back through Credit One’s More Rewards Program, which is a card-linked offer program. On top of the rewards, you can check if you pre-qualify online and track your credit score with free access through Experian.
Cons: Your earnings at the 5% rate are limited to $5,000 of purchases per year, then will go to 1%. Also, the card’s regular APR of 23.99% (variable) is pretty high and it comes with a $95 annual fee.
Who should apply: If you foresee yourself spending largely in the high-rate categories, this card can offer big benefits to your everyday shopping. To take full advantage of all this card has to offer, keep a close eye on rewards opportunities through the More Rewards Program and you could easily negate the annual fee.
Read our Credit One Bank Platinum Rewards Visa review.
Credit One Bank® Platinum Rewards Visa with No Annual Fee: Best for no annual fee
Why we picked it: You can track your credit score online with a free Experian credit report each month and have your account regularly reviewed for a credit limit increase with this card. There’s also no penalty APR for a late payment and some lucrative rewards available, all for no annual fee.
Pros: Cardholders get 2% cash back on eligible purchases at grocery stores and gas stations, as well as cellphone, internet, and cable and satellite television services. Plus, the Credit One’s More Rewards Program can take the value of these rewards up a notch, boosting them by as much as 10% from participating merchants. Potential cardholders can also check for pre-qualification ahead of time to see if they’ll have access to things like zero fraud liability and a flexible payment schedule.
Cons: You’ll want to avoid carrying a balance month to month due to this card’s 23.99% APR (variable). It also comes with a $300 credit limit, and although the short limit is meant to help new cardholders, it could hurt your credit score through your utilization. Managing a budget and tracking your spending will help salvage your score in the long-term.
Who should apply: Thanks to its widespread rewards and no annual fee, this is a great everyday-use card for those looking for a cash back and credit-building combination.
Read our Credit One Bank® Platinum Rewards Visa with No Annual Fee review.
Credit One Bank® Visa® Cash Back Rewards: Best for cash back
Why we picked it: You’ll earn unlimited 1% cash back on all eligible gas, cell phone, internet, grocery store, cable and satellite TV purchases, plus have access to free online credit monitoring and a flexible payment schedule while avoiding an annual fee.
Pros: This card gives access to many perks, including fraud protection, automatic account reviews for credit increases and discounts from participating retailers through Credit One’s More Rewards. You can also set up custom payment reminders to be certain you don’t fall behind on bills.
Cons: While the cash back earnings are nice for a starter card and those trying to improve poor credit, you can find more rewarding options elsewhere. It also features a short initial credit limit at $300 and a 23.99% variable APR.
Who should apply: While some of the other cards here may have more to offer, this is still a viable option for newcomers and those trying to grow their credit score thanks to its consistent rewards and perks to help credit building.
Read our Credit One Bank Visa Cash Back Rewards review.
Credit One Bank® NASCAR® Credit Card: Best for NASCAR fans
Why we picked it: Racing fans will appreciate 2% cash back rewards on every eligible purchase at the NASCAR shop and access to exclusive deals, discounts and experiences through participating NASCAR merchants.
Pros: This card comes with 1% cash back rewards on eligible gas and automotive purchases, plus access to a discounted membership with the Official NASCAR Members Club. As a way to help grow your credit score, you’ll also have the ability to check your credit for free every month through Experian. It also has the option to prequalify to avoid any harm to your score.
Cons: The card comes with an annual fee as high as $99 ($39 – $99) and a low initial credit limit of just $300.
Who should apply: A NASCAR fan in the market for a cash back card that’ll help improve their credit is a great fit for this card. If you want more generalized rewards, one of the Credit One Bank Platinum Rewards Visa options is a better choice.
Find out more about the Credit One Bank® NASCAR® Credit Card.
Comparing the best Credit One credit cards
|Card name||Best For||Annual Fee||CreditCards.com review|
|Credit One Bank® Platinum Visa® for Rebuilding Credit||Best for bad credit||$75 first year, then $99 annually||Review|
|Credit One Bank American Express® Card||Best for fair credit||$39||Review|
|Credit One Bank® Platinum Rewards Visa||Best for rewards||$95||Review|
|Credit One Bank® Platinum rewards Visa with no annual fee||Best for no annual fee||$0||Review|
|Credit One Bank® Visa Cash Back Reward||Best for cash back||$39||Review|
|Credit One Bank® NASCAR® Credit Card||Best for NASCAR fans||$39-99||N/A|
How we picked the best Credit One credit cards
Research Methodology: We analyzed Credit One Bank’s card catalog and identified their best offers currently on the market. The major factors we considered were:
- Ease of access: Many of the bank’s options are designed to help credit newcomers and those trying to improve a poor score, so we sought out cards that allow for all types of consumers. Most options here offer prequalification, allow low credit scores, have no security deposits and more.
- Credit-building features: We identified cards that will help boost your credit score as you make on-time payments and practice good habits. The options we found make your credit report available on a monthly basis for free and often will automatically review your account for a credit line increase.
- Affordability: We looked for cards with low annual fees and no extraneous costs to help consumers looking to manage their budget and grow their credit score.
- Cash back rewards: Some of Credit One’s options feature regular cash back as well as the potential for extra earnings. We identified options that give a little more on your purchases.
What is Credit One Bank?
Credit One Bank describes itself as “a technology and data-driven financial services company” that started as a single-standing full service bank in 1984. Since then, it has quickly grown into one of the top credit card issuers in the country, acquiring millions of accounts. As one of the largest issuers in the United States, Credit One Bank distributed $7.5 million in 2019 charitable donations and over $86 million in cash back rewards paid.
The bank offers an array of different cards and structures, but seems to have found a go-to customer they’re appealing to with some of their options. For consumers in the fair to good range who are still looking to be rewarded, don’t overlook the best Credit One credit cards. They’re also the official credit card for large sports teams and corporations, such as NASCAR, the Big 12 Conference, and Las Vegas’ new hometown squads – the Raiders and Golden Knights.
The quick growth of Credit One Bank
|July 1984||Starts out as a full-service bank in San Rafael, California|
|May 2002||Revises logo with arc, which symbolizes the positive path toward credit health between the bank and card members|
|December 2005||Acquires 1 million active accounts|
|October 2007||Launches free credit score access through Experian to cardholders|
|December 2013||Introduces 1% cash back rewards program on eligible purchases|
|January 2014||Becomes a top 10 issuer of Visa® credit cards|
|February 2016||Announces sponsorship as Official Credit Card of NASCAR|
|August 2017||Announces official sponsorship with NHL’s Vegas Golden Knights|
|July 2018||Receives $6 billion in receivables|
|August 2018||Launches Vegas Born Credit Card, the official Credit Card of the Vegas Golden Knights|
|October 2018||Announces official sponsorship of Big 12 Conference|
|December 2018||Announces sponsorship of Triple A affiliate of Oakland A’s, the Las Vegas Aviators|
Credit One Central™
Credit One offers a plethora of resources for credit building, financial education and credit basics. Credit One offers advice such as “5 Ways to Help Pay Down Debt” and “How to Improve Your Credit Score- 5 Quick Methods”, perfect for continuing or starting your credit-building journey.
Which Credit One card is best for you?
While other high-end credit cards may have flashier benefits and rewards structures, Credit One offers a better than average rewards structure for those with less than stellar credit. Here is who can benefit from Credit One products:
If you have thin or bad credit, The Credit One Bank® Platinum Visa® for Rebuilding Credit or the Credit One Bank American Express® Card can empower you to make wise credit and spending decisions. Both cards offer decent rewards structures and tools to help you manage your credit, but the annual fee for the Credit One Bank® Platinum Visa® for Rebuilding Credit is $75 the first year and $99 thereafter, while the Credit One Bank American Express® has a flat $39 annual fee.
The rewards seeker
The Credit One Bank® Visa® Cash Back Rewards card could be an ideal choice for the everyday shopper seeking to rack up the rewards. With a low annual fee and unlimited cash back earning potential, this card can offer you the tools you need to get some cash back rewards in the bank.
If you’re in the good to excellent credit range and looking to maximize your potential rewards earnings, the Credit One Bank® Platinum Rewards Visa with No Annual Fee is a good choice. Complete with a slightly higher rewards structure than the Visa® Cash Back, you won’t have to worry about an annual fee cutting into your cash back.
Comparing two Credit One Visa® cards…
|Features||Platinum Rewards Visa||Visa® Cash Back Rewards||CreditCards.com review|
|Rewards||Rewards 5% cash back on gas, groceries, cellphone services, internet, and cable or satellite TV service purchases (on first $5,000 in spending, then 1% on all other purchases) Terms apply.||1% cash back rewards on eligible gas and grocery purchases as well as mobile phone, internet, cable and satellite TV services. Terms apply.|
|Spend||$500 a mth/12 mths||$500 a mth/12 mths|
|Required credit||Fair, good||Fair, good|
|Total end of year?||$260-$95=$165||$60-$39=$21|
What are the benefits of having a Credit One card?
There are many credit-building features and benefits that come with having a Credit One credit card. When used responsibly, a Credit One card could be the tool you need to strengthen your credit health and stay on track. Here’s what this bank issuer offers:
- Free credit score – You’ll gain online access to your Experian credit score and a monthly summary of your credit report.
- Customizable account notifications – Tailor your notifications to help you stay on top of what’s important, such as when your payment is due and notices about account activity.
- Higher credit lines – Based on your overall account activity you can receive automatic reviews for increased credit lines.
- Zero fraud liability – This protects your account against unauthorized transactions.
- Counterfeit protection – EMV chip technology will protect your finances from counterfeit activity.
- Added peace of mind – Find security with Credit One’s Optimal Credit Protection (terms apply).
- Credit One bank mobile app – Manage your account, pay your bills, check your balance and more.
- Phone payments – Make secure payments through mobile wallets like Apple Pay, Samsung Pay and Google Pay.
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