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.
- Regular credit line increases
- Free credit score summaries
- Options for bad credit
- High annual fee
- High interest rates
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 regardless if you decide you do not want the card.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.
A link has directed you to this review. Its location on this page may change next time you visit.
I was really in the negative comments on this site about Credit One, but I have to say I have never had any issues with that and I’ve been with them for about two years. People have to realize they are a small company and although I don’t necessarily agree with some of their fees they have to charge these fees for the company to grow they are not some huge company like Capital One or Chase. One thing people need to realize is they give credit cards to people with bad credit like myself. After my divorce my credit was ruined and nobody would give me a credit card except Credit One.
My only issue is every time I have called customer service it is someone with a heavy accent that I have a hard time understanding but they’ve always been able to handle my problem. They raise my credit limit out once and did not charge me for the increase. It’s only $450 but I came into this card with really really bad credit. Yes they are expensive yes they charge high interest but all this is explained in their terms and conditions. I love how people accept these terms then start blasting the company or year later like it’s the company‘s fault if you don’t like the term’s donuts up the card if you didn’t read the terms that’s your own fault. I’m happy with Credit One.
When I started to rebuild my credit, Credit One was the third card I applied and was approved for. They started me with a decent credit limit - for someone with very limited credit - of $500. After being with them a little over a year now, no missed or late payments, keeping a fairly high utilization rate, paying more than the minimum each month, and then paying it completely off with my taxes in one chunk and then leaving it be for the last month - I signed in today just to check on things, I was surprised to see 2 more offers than normal. Curious, I checked to see what they were and one was for a credit limit increase (which was approved immediately for another $200, raising my limit to $700) and the other was a pre-approved offer for a MasterCard because of my "good behaviour".
I was a little unsure at first, knowing it would be a hard pull (which actually hasn't shown up yet, but we're still less than 24 hours in) and I've worked really hard to get my credit to where it is now (started this credit repair journey around 550 or so and am now at 702 with 14 mixed accounts) I decided to take a chance and submitted my application... Within 30 seconds I was congratulated and approved for an $800 MasterCard! That's up a $1000, for a total of $1500 between both cards! (On a side note - I also got approved for a Discover It card with a $2500 limit - my biggest yet - just prior to this for a total of $4000 in less than 24 hours!) Overall I'm very satisfied with Credit One, and very grateful they took a chance on me when not many others would. So, Thank You Credit One! And to everyone else -YES, I WOULD RECOMMEND THIS CARD - if you're serious about rebuilding your credit responsibly, Credit One can help you achieve that goal! :)
Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.
Just about any time I have had a problem, Credit One bank has fixed it in a timely manner. They also do the right thing before I ever have to ask. Thank you for being available and for being friendly!
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. I have nothing bad to say about them, because they were there for me. I pay it off every month and now my limit is at 1700. By doing this, the high rates never affect me. So please, STOP! Pay your bills, get your scores up and THEN you can get rid of the card since it's so bad.
I just opened up my account 30 days ago. They hit me with a 75 dollar fee then I pay my first bill on time and they hit my credit score 39 points. What kinda of ** is this place? That should be illegal. This company clearly has no idea what they are doing. Let’s just screw all new customers over. Be warned about this fake ** bank. They did this to me when I’m a new “member”. Don’t be fooled by their **. Don’t even take a chance with this place because it’s a huge hassle to un** what they do to their “Customers”. I’m gonna making so much noise about this ** their CEO is gonna ** himself when this place gets utter ** by Bill Cosby. Shove it????
- 2,202,339 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.
I got this card for my husband to build his credit back up. He now has two of them. They have done their job for positive reports to the credit bureau. One card has $99 annual fee, the other is $60 annually. BOTH have a $19.00 annual fee for authorized users, any credit limit increase has to be PAID FOR - yeah there is a charge for that too. Authorized users are treated like dirt. Any other bank I'm able to contact with a name change (marriage), or dispute a charge. Credit One requires my husband to contact them with my name change, even though if I have a marriage certificate, it's obvious that he already agreed to change my name to his.
I ordered my husband a personalized gift. A surprise. A SECRET!!!! Now I need to dispute the charge and they REQUIRE HIM to file the dispute. They even refused to provide ME the fax number to send the dispute. Capital One changed my name immediately upon filing the legal proof with them that my name changed. Capital One allows me to dispute fraudulent charges, or items not received. After yesterday's conversation and even the refusal of the fax number to me, I applied him for another Capital One card, which I will be transferring these balances to IMMEDIATELY so I can close these cards.
Their online system is also sub-par. When I make a charge, it takes DAYS to be able to see that reflected in the balance on the app or website. Our other credit cards show new charges before even walking from the cash register to the car. When the statement is "ready" per the text alert I get, it is never actually ready. I had to wait 3 days to view it this month. Yeah, the card has done its job to bump up his credit score, but its usefulness no longer outweighs the high fees, terrible customer service, and sub-par online access. If you need a credit card to build credit, try Capital One FIRST!!!! This company is a complete joke.
I didn't know they charge Annual fee" every month! So I called Customer service and the lady who answered my call was unprofessional and yelled at me. Yes I have a heavy accent but she also has it! She said "I don't get your point" or " don't understand" repeatedly! She sounds so annoyed by my question. Also she doesn't listen carefully at all!!! Before I called Customer service, it took for a while to get a person! All automated machine. (I called several numbers they provided and all same.)
The mobile app is trash! Not updated at all. Can't chat with them, can't change my profile, you need 1 week ahead to pay online Otherwise you pay extra fee to pay and who actually write the letter for them in this generation?! If you have questions, you write the letter and send to them! What a joke!! Imagine, How many days it take to get the answer back?! I wish I could cancel my card. But I need it for my credit score! (I filed bankruptcy several years ago and they are the only a few credit card companies to get me cards. I thank them at first but after the phone calls with the Customer service, I may cancel the card....)
Worst credit card ever. First they charge you for any credit increase then charge $8.25 a month, but it gets better, then they charge you $6.22 interest on the $8.25, what a complete scam, I told them to cancel the monthly fee or close my account, they offered to not charge me a fee for 6 months. I ended up telling them to ** off and close my account. DO NOT GET THIS CARD IF AT ALL POSSIBLE, YOU'VE BEEN WARNED.
A few years ago I had my CC stolen. I reported it. They said they sent a affidavit that I had to sign but it needed got to me. I complained several different times. It was never resolved. The other CC I had worth other companies resolved it right away. And they have an annual fee that is why I had to cancel my account. Not happy at all.
I had a phantom charge appear from Amazon, here is the problem, I have never used this card for my Amazon Accounts. I called Credit One and not only was the customer service representative not helpful, after going through the explanation and obvious concern about a charge that shouldn't be there, I am told to call Amazon. I called Amazon and they confirmed that I have never used this card to pay for anything. Your credit card company is supposed to research disputed charges and clearly this does not apply to credit one. As soon as I get my return I will be paying in full and closing this account. I will make sure to send them a letter via certified mail, I will also call them and close it. I will monitor to make sure it is closed because from what I am gathering they try to do anything they can to leave it open even after you request to close it. It is really a shame they take advantage of people in precarious financial situations.
Credit One Bank Company Information
- Company Name:
- Credit One Bank
Keep an eye on your inbox, the latest consumer news is on its way!