Credit One Bank

Credit One Bank

 1.1/5 (143 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?
  • 4,010,481 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: Aug. 22, 2022

I have no complaints and thank you credit one bank for giving me a chance when no one else would. Yes the fees are high and interest rates are high, but they’re taking a chance on someone with a low credit score. It was Very easy to apply for online and they also have an app to keep track of your spending and to pay for your card. I applied for a secured credit card with Credit One bank to build my poor credit score after my own bank denied me for a secured credit card. After a couple months of paying the balance off in full each month I was given an automatic credit increase. My credit score skyrocketed!!! A year later I was pre-approved for another account with a massive credit increase. Thanks again Credit One.

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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.

21 people found this review helpful

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    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.

    20 people found this review helpful
    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.

    14 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 30, 2022

    I live in Orlando Florida and these people called my 32 times asking me to pay a bill during hurricane Ian. While my house is flooding and fence and trees breaking all around me they are asking for a payment. I said I'm in the middle of a cat 4 hurricane and you are asking me to make a payment... They responded, "Sorry you are having such a rough time. When can we expect a payment." Never in my life have I been so furious at the inhumane conversation. State of emergency doesn't mean anything to them! What happens next will be their own fault

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 28, 2022

    Received the Card a couple of months ago. Used it a few times. Paid it off before the due date $300 to 400 dollar payments at a time. Called customer service close the card, I told them the annual fee was too high. Customer service rep talked me into keeping the card after raising my credit limit to $500. And said I wouldn’t be charged any fees and so I agreed to keep the card. Made another $110 charge on the card to pay my AAA bill.

    Paid half of the balance off before the due date like $75. Try to use the card again another day and a card would not work so I called customer service. They said the card has been shut down for fraud so I told them to send me the final bill then I would close the card and pay the bill off so I did receive the final bill for $75.33 and I called them to pay the bill and they tell me now that the card has been turned over to collections. The card was never late. How is that possible??

    I told them to explain to me how that is even possible and the card was never late so the rep transferred me over to another department which said they were closed so I just wrote them a letter and mailed them a check for the full amount and told them to close the card. Sent the cut up card back to them. This is the worst credit card company I’ve ever dealt with. Seems like the right hand doesn’t know what the left hand is doing. They tell you all kinds of wrong answers and misinformation. I would recommend this company to anyone. I hope this review will keep other people from applying for this card. To be continued….

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    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 27, 2022

    Credit One is horrible. They get a -10 in customer service, communications, process, and they don't give a crap about their customers. I got approved for their Wander credit card. I received the card, use it 4 times and they decided to put a fraud block on it. I sent copy of my driver license, bank statement. They didn't feel the bank statement was good enough, however o one in their organizations emailed or called me. I've sent several documents to prove I am who I am. I've spoke to numerous reps and managers. Here we are 4 weeks later the issue still have not been resolved. I've been told by managers they would call me back but that never happened. There are no words to describe how horrible this company is. My next letter is to the Better Business Bureau and the FDIC since they are a bank.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 26, 2022

    I made a two month payment back in the early part of Sept, called to see when I could use my credit card and was told by two representatives the card would be available for use on the 26th. Went to use the card and it said declined. Called Credit One bank and the story changed. Had to wait another day and no one would refund the money or open the card for usage when two representatives told me on the 26th. Very bad business. Please don't ever get this credit card or do business with this people.. I beg anyone, please don't use this company, they're awful and I never put reviews on a credit card company... BEWARE...

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

    We made a payment to our credit card in the amount of $510 on August 21, 2022 from the same account and method all our previous payments have been made. Credit One accepted and posted this payment. On the app, it shows our credit available being $489. There was no correspondence to us nor did we receive our money back. However, we tried to use the card today to get supplies for a coming hurricane and there is a block on our card.

    We called and found out that the last payment we made was flagged "suspicious" which was a system error. Now they are telling us 1 month later after already accepting and posting the payment we have to "validate" what was once again already accepted and posted by supplying them with our bank statement. Fine no problem, BUT they tell us it will take 3-5 or 7-10 business days. We don't have that long. For anyone who has faced a category 3 hurricane, you know the urgency in having to be prepared. Credit One is a joke and NOT a reputable company. Stay Away!!!!

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

    Awful customer service! They charge you in order to make a quick payment which is clearly a scam in order to make people desperate for purchasing power even poorer. The only compliment I can pass along is that they have attractive card designs. Things got even worse when I called one day because of them erroneously reporting me as 30 days late on a payment, further damaging my already abysmal credit score. They then told me they're also closing my account because of a few returned payments, DESPITE the fact that I have always paid on time and have regularly gotten my account balance to zero. While sobbing on the phone to customer service they told me I couldn't do anything to stop them from closing the account, and that it couldn't be reinstated either. This company is so predatory and they can't even do the bare minimum for the well-disciplined customers like me.

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    Credit One Bank Company Information

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