Credit One Bank Wander® Card review

Credit One Bank Wander® Card review

Updated: November 4, 2022

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Updated: November 4, 2022

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Ratings Policy
Credit Building Rating:
2.6 rating
2.6 rating
2.6 / 5
Cost of Membership1.0
Ease of Building Credit4.0
APR2.0
Features5.0

In a Nutshell:

If your primary goal is building credit (not earning rewards), there are plenty of lower-cost options available, even if you don’t want to put down a security deposit.

See rates and fees

Learn more about this card

Average cost of membership per year (annual fee minus average rewards earned per year with $3,600 annual spend)
$14 ($95 annual fee minus $81 in cash back rewards)

Average

Security deposit required
$0

Excellent

Credit limit
Starting at $500

Average

Access to higher credit line?
Issuer may periodically review your account for credit line increases, but no set timeline

Fair

APR
26.99% Variable

Fair

Annual fee
$95

Poor

Other rates and fees

  • Foreign transaction fee: $0
  • Cash advance APR: 26.99% (variable)
  • Cash advance fee: $10 or 5%, whichever is greater (see terms)
  • Late payment fee: Up to $39 (terms apply)
  • Penalty APR: None
  • Returned payment fee: Up to $39 (terms apply)
Average

Other notable features: More Cash Back Rewards program, credit protection program, zero fraud liability

Rewards Rating:
3.2 rating
3.2 rating
3.2 / 5
Rewards Value 3.0
APR1.0
Rewards Flexibility 3.0
Features2.0
Issuer Customer Experience1.0

In a Nutshell:

While it’s far from the best travel card out there, the Credit One Wander card could be a good option for travelers who want to build credit without missing out on rewards.

See rates and fees

Learn more about this card

Rewards Rate

  • 10x points on eligible hotels and car rentals booked through the Credit One Bank travel site
  • 5x points on eligible travel, dining & gas
  • 1x points on all other purchases
Excellent

Sign-up Bonus

Earn 10,000 bonus points after spending $1,000 on eligible purchases in the first 90 days

Fair

Annual Bonus

None

Poor

Annual Fee

$95

Average

APR

26.99% Variable
Poor

Credit One Customer Service Ratings

  • J. D. Power 2022 customer satisfaction rating: 738 (all issuers in this category ranked higher)
  • 24/7 live customer service?: No
  • Online chat available?: No
  • Google Play Store mobile app rating: 4.6/5
  • Apple Store mobile app rating: 4.7/5
Poor

Other notable features: More Cash Back Rewards program, credit protection program, zero fraud liability

If you only have fair or average credit but still want a chance to earn cash back or travel rewards, the Credit One Wander card may be worth a look. Though the card comes with a $95 annual fee, it earns at an impressive rate on a wide variety of eligible travel spending, as well as on dining and gas purchases, making it almost tailor-made to fit road trippers and families on the go.

However, given its high cost and minimal perks, the card is hard to recommend purely as a travel rewards card. Instead, this card is best seen as a credit-building option for domestic travelers.

Earning rewards

Given it’s available with fair credit, the Credit One Bank Wander Card offers a relatively generous rewards program. The card’s most lucrative categories should be an especially good fit if you do a lot of traveling and dining out since it offers 10X points on eligible hotels and car rentals booked through the Credit One Bank travel site, 5X points on eligible travel, dining and gas, and 1x points on all other purchases.  Those rates rival some of the rewards rates you’ll find on the best travel cards on the market and it’s pretty remarkable that you can get access to them with only a fair credit score.

Redeeming rewards

You can redeem cash back rewards as a statement credit and for gift cards, merchandise and travel. Points are worth 1 cent apiece when redeemed for cash back, but vary in value for other redemption methods. Unfortunately, you can only redeem cash back in increments of 1,000 points, with points worth 1 cent apiece, so you’ll need to earn at least $10 worth of cash back rewards before you can redeem. Travel redemptions carry restrictions, too, as you can only redeem for travel through Credit One Bank’s own travel portal.

Solid sign-up bonus for its credit level

The Credit One Wander card also stands out for its impressive sign-up bonus of 10,000 points after you spend $1,000 on eligible purchases in your first 90 days, which you can redeem for a $100 statement credit, gift cards, or travel. While this is far from the best sign-up bonus out there (most no-annual-fee cards available with good credit offer at least $200 as a sign-up bonus), it’s a terrific perk considering only a handful of cards available at this credit level offer any sort of bonus. The bonus spending requirement is also relatively low, so it shouldn’t be too tough to reach if you use the card for most of your everyday spending.

Card rates and fees

The most obvious downside of the Credit One Wander card is its $95 annual fee, which is far higher than the fee you typically find on a card with fair or average credit and is more in line with the fee you’d find on either a card designed for someone with bad credit or a mid-tier rewards card that carries better perks and bonuses. The card also charges a relatively high APR (26.99% variable rate), regardless of your credit history.

Card perks

It may come as no surprise given the card is available with fair or average credit, but the Credit One Bank Wander Card doesn’t offer much in the way of cardholder perks. You can enjoy some bonus rewards with select retailers via the card’s More Cash Rewards card-linked offer program and enjoy peace of mind with zero fraud liability.

How the Credit One Bank Wander Card compares to other credit cards for fair credit

While the Credit One Bank Wander Card may make sense for cardholders with fair credit who want to work on their score while earning rewards on travel, you’ll almost certainly be able to find a lower-cost option at this credit level, which could help you improve your score and eventually move up to a more lucrative travel rewards card. Here are a few alternatives to consider:

Capital One QuicksilverOne

Capital One QuicksilverOne Cash Rewards Credit Card

Capital One Platinum

Capital One Platinum Credit Card

Petal 1 Visa Credit Card

Petal® 1 "No Annual Fee" Visa® Credit Card

Rewards rate

1.5% cash back on all purchases

Rewards rate

None

Rewards rate

None

Credit limit

See terms

Credit limit

See terms

Credit limit

$300-$5,000

Annual fee

$39

Annual fee

$0

Annual fee

$0

Other things to know

  • Account reviewed for possible credit limit increase after 6 months of on-time payments and responsible use
  • Automatic cash back redemption available
  • No foreign transaction fees
Other things to know

  • No foreign transaction fee and no security deposit required
  • Account reviewed for possible credit limit increase after 6 months of on-time payment and responsible use
Other things to know

  • No foreign transaction fee and no security deposit required
  • Issuer may consider alternative credit data (like income and bill payment history) when evaluating applications, not just credit score
  • Includes money-management tools and free credit reporting

Capital One QuicksilverOne Cash Rewards Credit Card
Not only does the card charge an annual fee of just $39 (versus $95 with the Credit One Wander card), but it also offers unlimited 1.5% cash back on every purchase, which will help offset the card’s cost even further and give it great long-term value. Plus, once your score improves, you may be able to upgrade to a more lucrative travel or cash back card from Capital One.

Capital One Platinum Credit Card
If you want to avoid an annual fee and have at least fair credit, the Capital One Platinum card is one of our top picks. It’s far from the flashiest card, offering next to nothing in the way of perks, but it carries a $0 annual fee, requires no security deposit and gives you a chance at a credit limit increase after six months of on-time payments and responsible use. If building credit is your top priority, it’s hard to go wrong with this streamlined card.

Petal® 1 "No Annual Fee" Visa® Credit Card
The Petal 1 card (issued by WebBank) is a terrific option for credit-builders since it’s available even with bad credit, charges no annual fee and offers a minimum starting credit limit of $300 (up to $5,000). The card is also notable for its flexible approvals process: The issuer can consider more than just your credit score when you apply and may take into account other financial data like your bill payment history. This will be a big help if you’ve had some credit missteps in the past but are otherwise on solid financial ground.

Is the Credit One Bank Wander Card worth it?

While the Credit One Bank Wander Card may be worth it for cardholders who want to earn rewards on eligible travel while building credit, the $95 annual fee is tough to justify beyond the first year. You’ll likely be better off going with a lower-cost credit-building card, working on your score and then upgrading to an inexpensive and more rewarding travel card.

All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.

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