Credit One Bank

Credit One Bank

 1.1/5 (125 ratings)
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About Credit One Bank

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Regular credit line increases
  • Free credit score summaries
  • Options for bad credit

Cons

  • High annual fee
  • High interest rates

Bottom Line

Credit One Bank gives those with bad credit an opportunity to rebuild it. Interest rates and annual fees are higher, but cardholders can earn cash back rewards and track their credit score through Experian.

Top Credit One Bank Reviews

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Rated with 5 stars
Verified

Credit One gave me a credit card when no one else would. I admit, their rates are high, but if your credit is bad, what do you expect. If you pay on time, they WILL NOT bother you...

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Rated with 2 stars
Verified

Credit One charges you a yearly fee. This I did not see prior to getting card - my fault not theirs as it is in the fine print - but once you have the card you get the charge rega...

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What is Credit One Bank?

Credit One Bank helps people with less-than-perfect credit get secured and unsecured credit cards, which can help improve credit scores over time with responsible use. Through the Credit One Bank mobile app, cardholders can track their credit scores for free and access their accounts from anywhere.

About Credit One Bank credit cards

Credit One Bank offers seven credit cards with varying cash back benefits and fees for those with limited or bad credit. People with credit scores from 300 to 670 can qualify for a secured or unsecured Credit One credit card. You can find out if you pre-qualify on the Credit One Bank website.

The Credit One Bank Platinum Visa an unsecured option that doesn’t require a deposit and is available to those with fair credit. Since most credit-building cards require a security deposit, Credit One Bank Platinum Visa might be a good option for people who don’t have extra money and want a larger credit limit. It’s also a fit for people who have trouble getting approved for other cards. The Platinum Visa allows you to build credit and earn cash back rewards at the same time.

Credit One Bank benefits

Credit One Bank offers a variety of benefits to its cardholders. Cardholders have the option of choosing their payment due date. After a few months of responsible credit usage, Credit One reviews your accounts to see if you’re eligible for a credit limit increase. Other benefits include:

  • Cash back rewards: Credit One cardholders can qualify for different cash back rewards programs. Credit One Bank Platinum Visas for rebuilding credit earn up to 2% cash back on eligible purchases, including gas, groceries, mobile phone service, internet service and cable or satellite services.
  • Zero fraud liability: You are not responsible for unauthorized charges if your card is stolen or lost.
  • Free credit score: View your Experian credit score and credit report summary for free each month online.
  • Credit limit increases: Credit One automatically reviews your accounts for credit limit increase opportunities.

Credit One Bank fees

Credit One annual fees
Credit One Bank’s annual fees range from $0 to $99. Credit One charges the first annual fee when you open your account, which decreases your initial credit limit. After the first year, Credit One bills the annual fee once a year or divides it into 12 equal portions and bills it monthly. If your credit score improves, you may qualify for a lower annual cost.
Credit One ATM withdrawal fees
Since Credit One Bank only issues credit cards and doesn’t offer checking or savings accounts, you’re taking out a cash advance when you withdraw cash at an ATM with your Credit One credit card. Depending on the card you have, cash advance fees are either $5 or 8% of the amount of each cash advance, whichever is greater, or $10 or 3% to 5% of each cash advance, whichever is greater. Most banks also charge non-account holders a fee to use their ATMs.
Credit One foreign transaction fees
Foreign transaction fees are either $1 or 3% of each purchase in U.S. dollars, whichever is greater.
Credit One penalty fees
The fee per late payment or returned payment is up to $39.

Credit One Bank credit card FAQ

What is the minimum credit limit for Credit One?

If approved, the minimum credit limit is $300. Your credit limit amount depends on your financial history and creditworthiness at the time of your card application. Credit One does not publicly disclose a maximum credit limit for any of its cards.

How do I request a credit limit increase with Credit One?

Credit One automatically reviews accounts for credit limit increases. If you aren’t notified of an available increase offer, you can request a credit limit increase by calling customer service.

How can I check on my Credit One Bank application status?

You can check on your application status on the Credit One Bank website. Select “Application Status” on the menu of the home page.

How long does it take Credit One to send my card?

It takes Credit One up to 10 business days to deliver a new card.

Are Capital One and Credit One the same bank?

No, Capital One and Credit One are not the same. Capital One is one of the largest banks in the U.S. and offers bank accounts, credit cards, loans, and investment products, while Credit One only issues credit cards. It's easy to confuse the two since they have similar names and logos.

Is Credit One Bank a legitimate company?

Yes. Credit One Bank is a major credit card company that operates online and does not have any physical branch locations. Credit One Bank was founded in 1984 and issues secured and unsecured credit cards to people with limited or bad credit.

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How do I know I can trust these reviews about Credit One Bank?
How do I know I can trust these reviews about Credit One Bank?
  • 3,827,741 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 6
Rated with 5 stars
Verified Reviewer
Original review: March 18, 2022

I have been fighting with the company to close my credit card over over 4 months now. Fees keep racking up and they will not close account. They keep telling me it closed but not delinquent on my credit report. You can not talk to anyone here in the US.

11 people found this review helpful
Rated with 4 stars
Verified Reviewer
Original review: Nov. 8, 2021

Long story short, huge mistakes in my youth and missed chances to grow because of ignorance caused me to not only make my life harder, but to also scare me away from thinking any bank in the world will even talk to me. I have finally opened a successful bank account with a local credit union, started looking at credit much more seriously and developed a huge drive to not only fix my credit, but to get approved for the best cards I NEVER DREAMED of getting approved for before, and all of this is thank to Credit One giving me a yes on my application.

Just like the fear of rejection from a person, running your credit and putting yourself out there is a hard thing to do, especially when you always see or hear a no, but a closed mouth doesn't get fed and eventually, someone will say yes and that someone's is Credit One. Don't listen to the talk about the fees (unless you genuinely cannot afford them), don't let the APR deter you (do everything you can to pay it off monthly!). This card started my growth, and in just shy of 2 years since I started I now have 4 other cards with limits exceeding 4k a piece, a used car loan, and a fico score on the verge of 710. You can do it, you can fix it, don't run from a future where you have options for help and rewards you've earned, it all starts somewhere.

13 people found this review helpful

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    Rated with 5 stars
    Verified Reviewer
    Original review: Oct. 26, 2021

    I've only been doing business with Credit One for a few months but thus far, I have had nothing but positive experiences with them. Their website is easy to navigate and their customer service is friendly. Yes, the rates are a bit high but for those of us rebuilding our credit, that's the nature of the beast. I appreciate them for taking a chance on me when no one else would. All-in-all, I think Credit One is a great bank to do business with if you're trying to rebuild your credit or trying to establish credit.

    9 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Aug. 15, 2021

    This is my second card with Credit One. I see a lot of people bashing this bank. But they tell you everything upfront...you just have to do your part and read it. Yes there a lot of fees, but they take risks on a lot of people and get shafted by a lot of people. They gave me a card when most wouldn't. I have had ZERO issues with them. I know when I make a payment, it will take a few days to show on my available credit. No problem. These cards were not designed to live off of. If you can be responsible, this is a good card to rebuild your credit. Every time I check my credit file, both Credit One and Capitol One show exceptional payment history. It is allowing me to slowly build back the credit I so foolishly ruined.

    28 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 26, 2022

    My payment wasn’t even due and on a Sunday called me so early in the morning and when I didn’t answer because I was at church they kept calling me all day. Finally I got a call that I could pick up and it was harassment for no reason when my payment isn’t even due. It was just to stress me out and I don’t appreciate that call. For no reason just to have something to do they want to bother me. No thank you to this company; I’ll pay them off and never go to them again. They bothering my peace on my holy day for no reason just to disturb me.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 25, 2022

    First off if there was zero mark I would’ve gave them so that one star is not my true feelings. This won’t be short ok. I’m a apologize upfront but it’s all facts. They are quick to add fees just cause you looked at the card (the card is phony anyways). I had it for 3 months with a pitiful $300 limit (I’m starting over don’t judge me) and I used it 3x total. First monthly payment my bank account couldn’t link with them which isn’t my fault, as they state “We will send micro deposits to verify your account”. How convenient. These ** would get the .10 an .03 to me the day my bill is due. So I’m late. Next month I noticed my $300 limit is saying $370 (not limit) so I calls them and tell them exactly what happened and honestly I couldn’t tell you what they said cause you can’t understand them. I mean they’re most likely in a tent in Bangladesh.

    Regardless the second month I pay the $5 for it to go thru instantly like it’s cause that’s why you pay the extra money you’d figure. So 5 days go by and I get an email saying there was insufficient funds so guess there’s another 4 to 13 different fees adding up. Once again I called those folks and tried to explain to them Their own policies but they don’t know what I’m talking about.

    Long story short which is a little late for that I canceled the card and all of a sudden I got 400 and some dollar bill which the guy I canceled it with was trying to give me a credit limit increase to 500 which I told him to kick rocks and he told me that there would be no fees added on unless If I canceled my card. I’m sure you can guess they lied so my experience was miserable. Not saying you as will be but just pay attention. They got a fee for everything if you stay on hold too long. They bill your phone company if you talk why they’re talking. They bill big bill bill bill bill. Thanks for reading this if you did and if not that’s cool too. I’m a man. Honesty is very important to me so please believe everything I’m saying in this.

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    Rated with 1 star
    Verified Reviewer
    Original review: June 24, 2022

    I called and made a claim about a fraudulent charge that was done by someone else and somehow got a hold of my card. And yet this stupid bank is saying that they took the merchant's favor. As if I would lie about 21.99.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 24, 2022

    This is the worst company with the severely terrible customer service! I wish I never applied for this card. Customer run not walk away from applying to this company's credit card. There are hidden fees. They will freeze your account without notification when you have made many payments and you have to provide written proof of your account. Even though, they take your payment. When you provide the proof no one ever tells you that the account is activate again. If I had to do it over again, I would have never applied for this card with this company.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 23, 2022

    I bought this card to build credit some years back. I terminated my account a few months ago after paying the balance off (A card company usually doesn't even let you close until your balance is settled). Since Closure, my card was still building fees and charges - I called and they said a late charge went through afterwards. Since my account was closed - I never got notifications nor could I log into my account and I was buried with a ton of charges and fees. Nightmare support and support. Borderline fraudulent.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 22, 2022

    I've had this card for a little over a year. When I initially signed up, I was charged a $75 fee plus a $99 fee ALL AT ONCE. This is crazy being, the limit was only $500. Never even used the card at the time by the way. As soon as I activated it, I downloaded the app and there were the fees. Didn't really have a lot of money but I paid it piece by piece. Worst mistake. The fees on this card is astronomical!! I kept getting hit with $30 fees every time I logged in because of interest. If you don't pay the statement balance in full, you have will come to regret it. Also, I recently noticed a charge on my account that I didn't authorize. I don't even use this card anymore and don't know where it is so where did this charge come from? They also charge a monthly maintenance fee of $8 on top of the other fees.

    Another issue I had was that they don't want to approve you for a credit line increase on the same card. I waited a year to apply and they told me I didn't have my card long enough for an increase. Yeah right. I got a credit line increase of $500 in 6 months at another company which is the standard if you consistently make on time payments. Not to mention, I have NEVER missed a payment, they were always on time. Moving on, they magically send me another pre-approved card letter with a $800 credit limit urging me to accept, telling me it was a credit line increase. It was not. It was just another card.

    So really, I would have had two cards and guess what? More fees!! When my credit started to go up because of my other cards, they tried again and sent me an offer for a card with a $1,000 balance. Of course I refused. I was approved for 3,500 at Discover when I couldn't even get an increase at a company I have been with for over a year. I wish I never got this scam of a card. I don't even use it. Now I'm stuck paying monthly maintenance fees for a card I never use. Go anywhere else.

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    Credit One Bank Company Information

    Company Name:
    Credit One Bank
    Website:
    www.creditonebank.com