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Credit One Bank

Credit One Bank

 3.7/5 (1464 ratings)
  • 5 stars
    384
  • 4 stars
    593
  • 3 stars
    294
  • 2 stars
    67
  • 1 stars
    126
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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
    384
  • 4 stars
    593
  • 3 stars
    294
  • 2 stars
    67
  • 1 stars
    126

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?
How do I know I can trust these reviews about Credit One Bank?
  • 3,240,901 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 - 5
Rated with 5 stars
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Verified Reviewer
Original review: April 15, 2021

Let me start by saying I am very thankful to Credit One for giving me the chance with no deposit on my initial card. I have had their card since December of 2019 and love it! I started with a $300 limit and used it wisely paying all fees on time and as of now have about 11 cards as they just approved me for $1500 on another card! I see many people complaining about fees and such, they make this VERY clear when you apply for the card. If you can't afford the fees...don't get the card. There are cards out there with no fees like the Capital One Secured Visa which is what I started on with a $250 deposit over a year ago.

Since I have been with Credit One I have had absolutely ZERO issues with this company and will continue to use their services. I have approximately 14 accounts in total and have not missed one payment. This is because if I have an issue I don't wait until my closing date or due date to address it. I check all my accounts daily even if it is tedious, it's responsibility. If you can't afford $99 a year then you probably shouldn't have a credit card as the interest on a card adds to that and this is MADE CLEAR WHEN YOU APPLY. If you dont have the income, do what I have done, go work at Sonic and put in 50-60 hours a week.

These companies take a high risk as most people are NOT honest about their actual income then blame the card companies because they don't do the math BEFORE getting a card to see what the interest would be with a $300 card maxed with $99 in fees every year so let me try to help. So, if you have $300 and it's maxed with a 29% interest rate that's about $87, then you have the $99 fee every year. So that's actually $186. If you make the minimum payments of $30 it will take FOREVER to pay off that balance. So in total you would have $486 for that year if you maxed the card. In order to pay that card off in 12 months you would have to have a minimum payment of about $45 each month. These are rough numbers but it's to give a general idea.

In closing, Credit Cards are not YOUR MONEY. It is BORROWED money and should only be used sparingly, in an emergency, or to invest bringing in more than what your TOTAL credit line is. Literally, 11 cards and 3 merchant accounts all above 25% interest on a median income of $52k a year with about $1500 in car, truck, and insurance payments and never missed a payment. Stop blaming these companies for y'all's shady practices for not reading and doing the math BEFORE getting these cards. They make it VERY clear if you READ about the $7 design fee.

7 people found this review helpful
Rated with 5 stars
profile pic of the author
Verified Reviewer
Original review: Dec. 31, 2020

Well I was with Credit One Bank in the past. They gave me a chance. Then later on the account was closed due to hard times. But this year I applied and got a approval of $400. Then the next month was given a increase of $500 I am so grateful for this card.

3 people found this review helpful

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    Rated with 5 stars
    Verified Reviewer
    Original review: Oct. 31, 2020

    They are really on the ball. Their fraud prevention people are the best. They stopped a company from charging over $80.00 I did not authorize after saying they would send a full size product. If I paid only shipping and handling to get my payment information. I am a sucker for a sample, of almost anything in the wee hours of the morning.

    2 people found this review helpful
    Rated with 5 stars
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    Verified Reviewer
    Original review: Oct. 12, 2020

    I read a lot of reviews when deciding to apply for this card. Most of them were negative. I read that if you make multiple payments in a month they give you a hassle. Not true, I make 2-4 payments a month usually paying in full each time, never had a issue. I read payments do not post on time, not true, they post the same day made. Although the available credit sometimes takes 2-3 days to become available that was never a problem for me as we got this card to build credit not to live off of.

    Here is my thoughts, yes there is high fees, yes they are a little slower in releasing available credit (because they want to make sure the payment is not returned) and yes they are a little antiquated. If you are looking to build credit and use it and pay as you agree, this card is great, it serves the very purpose it is designed for and most people intend on using it for. With that said I find the low review rating and negative reviews are so many because so many of us poor people with crap or no credit get this card, then can't afford to pay on time or keep too high of a balance and get mad when there are fees or no credit. If you want o fix or build your credit follow the rules and this card is perfect. If you want a no fee card Discover offers a secured card for as little as $200 and will return your deposit after 8 months if you behave! We did both and it's working excellent.

    32 people found this review helpful
    Rated with 5 stars
    profile pic of the author
    Verified Reviewer
    Original review: July 31, 2020

    Higher fees but good customer service, great card to help rebuild your credit. Easy online payments. Easy to understand statements. Easy to increase your credit limits, I would reco'd this card and approval is easy to get, I like this card compared to others on the market, apply today and help your credit score, I did and have raised my score by close to 100 points. This is a good company to work with.

    10 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 16, 2021

    No autopay. Applied twice for a credit line increase and have been denied but was offered a $1500 new line of credit. It doesn’t make sense. If they can offer me a new line of credit of $1500 then why can’t they increase my current account with them? None of the customer service representatives have an answer for this and I can’t get anywhere with asking for a higher up. My current account has always been on time and my credit score is above the 700s and I still can’t get a credit line increase on my current account. I don’t want a new credit card with a new limit. If they can offer that then they can increase my current. I have had nothing but problems with Credit One in the few years I’ve gone business with them.

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    Rated with 1 star
    Verified Reviewer
    Original review: June 13, 2021

    This place is a scam. They never sent me a card. They said they sent it but it never showed, but the bill would show up. Had 2 or 3 replacement cards they said they sent. each time never showed but the bill would always show. Got a notice saying I had charged 300 and disputed it. They took it off and said they would send a replacement card. It never showed but the bill did with the original charges on it. Now it's in collections for 400 and I never received a card.

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    Rated with 1 star
    Verified Reviewer
    Original review: May 19, 2021

    Credit One charges INTEREST on PAYMENTS!! After making the payment for the annual fee, interest was charged as "Interest charges on purchases." The "purchase" displayed was the PAYMENT for the ANNUAL FEE. This is patently wrong and possibly illegal.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: April 30, 2021

    I did not open the card with this company and they still trying to hold responsible for it. They won't take it off my credit. I'll advise nobody to go through this card company because they will mess up your credit and you did not even do it.

    10 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: April 16, 2021

    This has to be by far the WORST credit card company I've ever experienced. I recently got a new credit card with them, with a small credit line of $300. I have higher credit lines that I have never missed a payment. After 1 month I paid $100. Since I was 10 days late because of an issue with my deposit, I get SIX PHONE CALLS every 15-30 minutes in 2 hours. At first I didn't even know it was them. They did not leave any voicemails until the 6th phone call. I called them back and expressed how disturbing and creepy it was to get called, and they explained to me that they do it (for my sake) so that they don't report me negatively to the credit bureau. Which is understandable, but then she wanted to social security number and personal info.

    Seriously lady? You want me to give you my PERSONAL INFORMATION AFTER YOU CALLED ME SIX TIMES? You think I'd trust someone who calls me 6 times in 2 hours? No way I said. So then she'd have to take the time to verify that the company is legitimate. All that time wasted. Could've left a message after the 1st call. I'm paying off the $213 and closing out my card. Will never do business again with people who will harass you like that.

    7 people found this review helpful
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    Credit One Bank Company Information

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