Credit One Credit Card Benefits

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Credit One Bank has made a name for itself by offering credit cards for people with less-than-stellar — and, in some cases, downright awful — credit. It should be noted that Credit One bears no association with Capital One.

Credit One Credit Cards

If you’re interested in applying for a Credit One card, you’ll need to see if you pre-qualify on its website, first. Fill in your personal and Credit One will tell you which cards you’re pre-qualified for — but that doesn’t mean you’ve been approved.

What exactly does Credit One offer in terms of credit cards, and what are their respective benefits?

Credit One Bank® American Express Card

Best for: Retail purchase protection

With the Credit One Bank® American Express Card, cardholders can earn unlimited 1% cash-back rewards on all purchases in the form of automatic credits to their account. The card also sports retail protection, meaning purchases are covered if a qualifying item is damaged or stolen within 90 days of purchase. Cardholders also have access to select American Express, Member FDIC, offers and can check their credit score through the app.

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As for fees, cash advances cost either $5 or 8% of the amount of each cash advance, and foreign transaction fees are $1 or 3% of each purchase in U.S. dollars — in both cases, the fee amount is the greater of the two amounts. Late payment and return payment penalties are each up to $39. The annual fee to use this card is $39, and the APR is

Credit One Bank Platinum X5 Visa

Best for: Gas and groceries

With the Credit One Bank Platinum X5 Visa card, holders can earn 5% cash back rewards on the first $5,000 spent on gas and groceries, as well as internet, cable, satellite TV and mobile phone services each year, after which they’ll earn 1%, plus 1% on all other purchases. They can also get up to 10% more cash back from certain merchants and can check their credit score through the app. Credit One reviews accounts regularly to see if they’re eligible for a credit line increase.

The annual fee to carry the Credit One Bank Platinum X5 Visa card is $95, and the late payment and return payment penalty fees are up to $39. Foreign transaction fees are either $1 or 3% of each purchase in U.S. dollars, and cash advances cost either $10 or 5%. The APR is 27.74% variable.

Credit One Bank Platinum Visa for Rebuilding Credit

Best for: Building credit

With the Credit One Bank Platinum Visa for Rebuilding Credit, cardholders get 1% cash back on gas and grocery purchases, as well as on their monthly mobile phone, internet, cable and satellite TV services. They can also snag up to 10% more cash back rewards from some from select national retailers. Credit One indicates that it rewards responsible behavior — it reviews cardholders’ accounts to check eligibility for credit line increases. And, of course, users can access their credit score for free.

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The annual fee associated with the Credit One Bank Platinum Visa for Rebuilding Credit is $75 for the first year, then $99 for every year after — billed in monthly increments of $8.25. Cash advances cost either $5 or 8% of the amount of each cash advance, and foreign transaction fees are either $1 or 3% of each purchase in U.S. dollars. Late payment and return payment penalty fees are up to $39. The APR is 27.74% variable.

Credit One Bank Platinum Rewards Visa with No Annual Fee

Best for: No annual fee

With the Credit One Bank Platinum Rewards Visa with No Annual Fee card, cardholders get 2% cash back on gas, grocery, internet, cable and satellite TV and mobile phone service purchases, along with up to 10% more cash back from select national retailers. Users can also access their credit score at no cost.

As the name says, there is no annual fee with this credit card. There are other fees, however, including the late payment and return payment penalty fees are up to $39, the foreign transaction fees of either $1 or 3% of each purchase in U.S. dollars and the cash advance fees of either $10 or 5% of the amount of each cash advance. The APR is 27.74% variable.

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Credit One Bank Wander Card

Best for: Travel rewards

Unlike most Credit One cards, the Wander card comes with a bonus offer for new cardholders — spending $1,000 on qualifying purchases in the first 90 days of card ownership will net you 10,000 bonus points, which you can redeem for gift cards, travel or a statement credit of $100.

The Wander card also offers 10x points on hotels and rental cars booked through the Credit One Bank travel partner, along with 5x points on flights, dining and gas. You’ll also earn 1x points for all other purchases, and the card offers 10% more cash back from some national retailers.

However, this card does come with a higher annual fee of $95. It also carries late and returned payment fees of up to $39, and the cash advance fee is the greater of $10 or 5% of the amount of the advance. It does not list a foreign transaction fee. The APR for the Wander card is 27.74% variable.

Credit One Bank Platinum Visa

Best for: Simple rewards

With the Credit One Bank Platinum Visa, cardholders earn a simple 1% cash back on gas and grocery purchases, as well as on mobile phone, internet, cable and satellite TV services. They can also earn up to 10% cash back rewards from select national retailers. Naturally, they can also access their free credit score, as they can with all Credit One cards.

The annual fee for this card is $39. Cash advances cost either $5 or 8% of the amount of each cash advance, and foreign transaction fees are either $1 or 3% of each purchase in U.S. dollars. Late payment and return payment penalty fees cost up to $39. The APR is 27.74% variable.

Does Credit One Help Build Credit?

All Credit One cards are designed to help consumers build or rebuild credit by enabling them to track their credit score and to sign up with subpar credit scores, but the Credit One Visa for Rebuilding Credit does it best, chiefly because it enables people with very poor credit to get a credit card and, ideally, start building up their credit by starting fresh.

But Credit One does tout astronomically high APRs, and one shouldn’t dive into these cards unless they’re desperate and know that they can pay their debts on time going forward. If you’re curious, check to see if you pre-qualify today.

FAQ

Here are the answers to some common questions about Credit One.
  • Is Credit One a legitimate card company?
    • Credit One is a legitimate card company that is designed for people with poor to middling credit scores.
  • What's the highest credit limit for Credit One?
    • Credit One does not publish a maximum credit limit. Cardholders can expect a minimum credit line of $300 to $500 initially, depending on the type of card they get and their current credit standing.
  • What score do you need to get a Credit One Bank card?
    • According to various reviews, you need at least a score of 500 to potentially be eligible for Credit One Bank cards. This is considered a very poor credit score.
  • Does Credit One increase credit?
    • Credit One may up your credit limit automatically over time, if you're in good standing with the company in terms of payment history, but you can also call and request a credit line increase, highlighting your solid reputation as a customer.
    • With the Credit One Bank Platinum X5 Visa and the Credit One Bank Platinum Visa for Rebuilding Credit, cardholders receive regular account reviews for credit line increases.
  • Does Credit One have an annual fee?
    • The Credit One annual fee can be as low as $0 or as high as $99, depending on the credit card.
  • Does Credit One have an app?
    • Yes, Credit One does have a mobile app. You can download it for free for both Android and iOS.

Amber Barkley contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Jan. 9, 2023.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

All information about the Credit One Bank American Express Card has been collected independently by GOBankingRates. The Credit One Bank American Express Card is not available through GOBankingRates.

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About the Author

Nicole Spector is a writer, editor, and author based in Los Angeles by way of Brooklyn. Her work has appeared in Vogue, the Atlantic, Vice, and The New Yorker. She's a frequent contributor to NBC News and Publishers Weekly. Her 2013 debut novel, "Fifty Shades of Dorian Gray" received laudatory blurbs from the likes of Fred Armisen and Ken Kalfus, and was published in the US, UK, France, and Russia — though nobody knows whatever happened with the Russian edition! She has an affinity for Twitter.
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