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About Credit One Bank
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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.
Pros & Cons
- Regular credit line increases
- Free credit score summaries
- Options for bad credit
- High annual fee
- High interest rates
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.
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...Read full review
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...Read full review
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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Reviewed Nov. 25, 2023
All payments I tried to make with Credit One except for 1 was declined, but credit one called demanding payment for all. So I asked them to send me a detailed brakedown sheet on all payments and all but 1 that was sent back to them was paid by other credit cards, I called them back and of course they are recording me so I turned the tables on them and recorded them with my android a14 phone built in feature! And after they tried to tell me I was double billed I told them I was recording them and they declined to speak. In the meantime I have all the evidence they are scamming me. They need to be shut down so what should I do next?
Reviewed Nov. 24, 2023
I called the corporate office and ask them to fix my credit reporting and it’s showing incorrect on my credit report but they refused and it’s showing my credit card has been open since October 2021 but the payment history for 2019-2021 is missing and Credit One Bank refused to update my credit report and ruined my credit report and charged me 5$ Monthly fee
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Reviewed Nov. 20, 2023
Credit One is the worst company to build credit. They charge high interest rates and outrageous annual fee. Soon as I pay off my balance I‘m closing this card. It a total ripoff. By all means stay away from credit one bank credit card.
Reviewed Nov. 20, 2023
Don’t get this card! Open my online account to register one day and the very next day I had to charge an annual fee of $95 before I’ve even gotten my card in the mail. Spoke to the service representative and he stated I don’t use the card. It’ll be charged at the end of the year like a regular annual fee. A complete joke and fraud. Who charges an annual fee before the year is over. I can already see this card is going to be a mess so I do not plan to use it.
Reviewed Nov. 19, 2023
Closed credit card on me without having zero reason for it. I was never late, not one time! Messed up my credit when they abruptly closed the card as well. Credit score went down a whole 32 points, not cool. Especially because they had no reason and when I called, they couldn't do anything for me.
Reviewed Nov. 15, 2023
I had a credit card with this company for 3 months. Every step of the process to make a payment made me regret my choosing this company. It takes up to 5 days for them to pull the payment and about double for it post to the account. Then they called me at all hours of day and night even after the payments processed claiming it was not paid when I had proof it was. I called them to inquire why my balance was still negative and they closed my account without any notice. But welcomed me to apply again?
Reviewed Nov. 13, 2023
This credit card is one of the worst credit cards I have ever had. They charge random interest fees which that’s not how credit cards work. That is in your payment. When you make your payment they bill you for things you don’t sign up for. If you lose your card they charge you $25 for a new card which is outrageous. The yearly fee is astronomically high, it is the worst credit card you could ever sign up for. Never ever try for this credit card. Go to Capital One always!
Reviewed Nov. 11, 2023
This call center I dread every time I have to call, (this is not a one or two time occurrence literally over a span of at least 10 calls consistently getting the same thing) incompetent people who don't speak or understand English are tasked to help you. The same mundane questions are asked over and over again. If I wasn't in need of rebuilding credit, I would cancel this immediately. They are HORRIBLE. I asked to speak to someone else because the rep couldn't help me and she said you can call back and get someone. They are reading off a script and do not make sense, nor are trained to actually answer your questions or provide customer service or even a explanation of what they are saying because they do not even understand themselves!!. Altogether this company really sucks.
Reviewed Nov. 9, 2023
Credit One has decided to take the side of scammers in Mexico for a $113 charge on my card. Wants me to write a letter with documentation (Not sure what documentation I can provide on something I have no knowledge of). Canceling cards. I have been a good standing customer with Credit One. That ends today!
Reviewed Nov. 8, 2023
I was approved for a credit limit and while waiting for the card to come in the mail I did some more research and found a lot of disappointing information about this company. Once receiving the card I immediately cut the card up in small pieces and threw it away. A few weeks go by and I just received a bill in the mail for the annual rate. How are you going to send someone a bill when they haven't even activated the card much less used the card. So I call the customer service line and of course I get connected to someone that barely speaks English.
They tell just because a card was sent to me that the account is active and I'm responsible for the annual fee. I asked to close the account and they tell me they have to transfer me to a different department. After being on hold for a while someone picks up and says hello and immediately hangs up. This happen on 3 different occasions. Now I'm either forced to pay the amount or take legal action. In the enstate... AVOID this company. They are scam artist.
Credit One Bank Company Information
- Company Name:
- Credit One Bank
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