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Credit One Bank

Credit One Bank

 3.5/5 (849 ratings)
  • 5 stars
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  • 1 stars

About Credit One Bank

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

Credit One Bank was founded in 1984 and provides access to credit for those who are often overlooked by traditional banks. Currently the company serves more than 12 million customers across the United States. Credit One Bank offers a variety of cards, including cash back credit cards, travel rewards cards, and more. Customers can manage their accounts online or through Credit One's mobile app and can access the customer service team 24/7 by phone or email.

Overall Satisfaction Rating

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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.

Credit One Bank Reviews

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How do I know I can trust these reviews about Credit One Bank?
  • 4,188,258 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
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Page 1 Reviews 0 - 5
Rated with 4 stars
Verified Reviewer
Original review: Jan. 19, 2023

I applied for the card December 17th 2022, was approved on the 20th. Didn't get card until January 19th, but it was sent to me overnight, which I thought was nice. They also refunded me my annual fee because they were late sending my card. So overall I think they're very good and I would definitely recommend them. Thank you Credit One.

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Rated with 5 stars
profile pic of the author
Verified Reviewer
Original review: Nov. 16, 2022

I have been a customer of Credit One Bank credit card services for a year. I’ve read reviews with Consumer Affairs and completely disagree with many others. Do as you’ve agreed from the onset. I pay before the due date, have never had any issues and I’ve never gone over the credit limit! It’s that simple. It’s highly recommended to take advantage of their credit protection program as well. In the time I’ve had a Credit One credit card, I’ve been offered a second card with a huge credit increase and a huge interest rate decrease. The mobile app is great! It’s very simple to use to see your transactions, watch your balance or pay your bill. It’s equally as simple to reach customer service by phone if needed. I’ve called customer service twice in 1 year and there’s never a wait time. They’re extremely courteous and efficient! What more could one ask?

Also, cash back purchases most often offset the interest accrued so take advantage of those when one can. There’s a little more work involved to see who offers cash back but it’s worth the few minutes it takes to look. They’re available for viewing and redeeming right on the app. Oftentimes I’ll pay more than 1 payment at intervals during a single month. At one point, I attempted to pay more individual payments but had reached their payment limits for the month. Yes, there is an individual payment limit per month but I prefer to make the payments in the event I’m ever in an emergency situation and need to use the card. They’ll only accept 5 payments in a 1 month period, just fyi. How is there to be any issue? Simply put, there aren’t issues. Hold up your end of the agreement made upon origination and there’ll never be a problem.

I also avoid large interest payments by making larger payments than the minimum amount due before the due date and/or paying the balance in full. Bottom line, pay as little as the minimum due before or on the due date right on the mobile app and there will never be a problem. I’d suggest more but that’s just me. They offer 2 ways to pay on the mobile app. They’ll do an express payment from a debit card (my preferred route) and it’s immediately applied or they’ll do an ACH hold with your bank, just don’t use the amount you’ve set aside to be deducted. It’s super simple and an extremely easy, streamlined app. It appears to me that people complaining about their experiences probably didn’t meet the required standards of any credit agreement, regardless of the card issuer. I can think of no other reason why there would be a problem. Don’t be that person and you’ll have no reason to complain. The rewards of your diligence will come!

9 people found this review helpful

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    Rated with 5 stars
    Verified Reviewer
    Original review: Oct. 5, 2022

    There are many bad reviews, however, follow the rules and everything will be just great, high fees, what do you expect, you have bad credit, but if you pay it off every month no problem, the best way to make a payment is make payments through online banking, otherwise your payment will be held a few days to clear. Use it every month for small things and pay it off every month, that’s how you will get ahead. Those that have bad reviews are those that are not working the system smart, after your credit get straight, close the account if you choose to and get a regular card. This card will work if you abide by the rules and stay ahead of the game.

    16 people found this review helpful
    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.

    6 people found this review helpful
    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.

    31 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Feb. 2, 2023

    I have called five times, and also spoke to supervisor regarding card approved for in November. They keep saying they are shipping new card but it doesn't come. Funny, I did get a bill and letter from them though. Why are they not sending cards? Are they just using my information? Doesn't seem legit.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Feb. 1, 2023

    American Express should get out of business with Credit One fast. So I lost my card I called to cancel the old one and requested a new one. A month later I realized I still haven’t received it yet. So I go into my online account cause I know they have an annual fee of $95 and wanted to see if it was charged to the card for the new year. I found 599,00 charged on the card $400 at an Apple Store and 199 at a rite aide. I said how is this possible I didn’t even get the card yet. So I called them to tell them what’s going on and to let them know there are fraud charges on the card. They said we will have to review this but in the mean time you will have to send us a utility bill and your license so we can confirm who you are. I said, "Are you serious?"

    I said, "You should be looking to see who charge my card that purchases were made in another state and I never activated this card." No customer protection with their products or interest into looking into The matter. So I paid the balance cause I don’t want my credit getting hit while they wait to decide if they will look into this issue. I will be canceling my account with then once payment is taken from my bank account. Stay away from this credit card company they don’t care about their customers and the safety of people personal information. This company is bad news and American Express made a big mistake putting their name on this card looks very bad for them too!!!

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Jan. 28, 2023

    I have been a Credit One card holder for about 5-10 years. I have had several issues with transactions being declined to avoid fraud. Embarrassing, but not unique to them. I have always paid on time and usually try to pay off each month. One often you cannot pay completely off unless all your transactions are early in the month. Not sure, but this is a bit annoying. I do not care for the 7 days after paying to have credit available, but still not my biggest issue. For the second time after making a payment (to pay the card off), they have suspended the card because my payment could not verified. The first time I provided them with the information they requested (proof the payment came from our bank account) they never reinstated. Then when we called, they said they had closed the account because we had not submitted proof. We cut up the card and it is still showing as an open account.

    Now again, I paid the card off and 8 days later I received a letter "temporarily suspending" the account until I provide a copy of a bank statement (which I do not like) or a printed transaction detail. They have the account paid off, and I will keep it that way. Going to wait and get a credit card company I can use and count on having the credit they extend. I do appreciate the card at a time I had poor credit, but I am done with this company.

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    Rated with 1 star
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    Verified Reviewer
    Original review: Jan. 18, 2023

    Don't suggest anyone apply this bank.. They keep over withdrawal for no reason.. I paid on time and they keep over withdrawal... hidden fee or whatever ... Don't apply this bank.. and hidden high fee that I don't know.. hurt my credit cause this...

    2 people found this review helpful
    Rated with 2 stars
    Verified Reviewer
    Original review: Jan. 17, 2023

    Card itself is okay, so long as you never need help with anything. They have hands down the worst customer service I have ever had the pleasure of dealing with. No one I have interacted with speaks fluent English and on top of genuinely not being able to understand the CSR, the few of them that I have spoken with are beyond rude. They act extremely annoyed to have to be helping you and I use the term helping very loosely because helpful is the last thing they are. Not to mention not only can you not understand them, they can’t understand you either so it’s a phone call of constantly asking one another to repeat themselves, except they ask you to do so in an extremely rude, arrogant and condescending way.

    My other issue is that the Payments take like a week to post to your account, so don’t plan on using your card anytime soon after you make your payment if it is close to being maxed out. It will show online that you have available credit but it won’t actually be available to spend for approximately 5 days. This is 2023. What credit card company takes almost a week to process a payment? My other cards take 1 business day and I even have 1 that processes payments instantly. They need to train their customer service department how to actually be of service to their customers and actually process customer payments in a timely fashion and then they might be worth recommending but until then, it’s a no from me.

    6 people found this review helpful
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    Credit One Bank Company Information

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