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Credit One Bank

Credit One Bank
Overall Satisfaction Rating 1.28/5
  • 5 stars
    7
  • 4 stars
    1
  • 3 stars
    1
  • 2 stars
    6
  • 1 stars
    158
Based on 173 ratings submitted in the last year

This company is not yet accredited. See reviews below to learn more or submit your own review.

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.

PROS

  • Regular credit line increases
  • Free credit score summaries
  • Options for bad credit

CONS

  • High annual fee
  • High interest rates

Top Credit One Bank Reviews We Found

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Rated with 5 stars
Verified Reviewer

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 Reviewer

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.

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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?
  • 2,380,360 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 - 10
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.

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Rated with 5 stars
Verified Reviewer
Original review: June 10, 2020

I didn't get a credit card in my teens/early 20s. BIG mistake. NO ONE would take a chance on me at 25+; not because of bad credit, but "insufficient credit history." Credit One at age 31 gave me a chance! Kept the card almost 3 years, now onto "bigger and better" cards with a score 700+. Had they not given me a chance, I'd be SOL as now my dad is passed on and I only have my own credit to rely on if I need it. Thank you Credit One! Product A+++; does as intended--CREDIT BUILDER (even at 31!).

5 people found this review helpful

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    Rated with 5 stars
    Verified Reviewer
    Original review: May 2, 2020

    I’m reading these reviews. Smh at the self entitled irresponsible people complaining about getting late fees when paying their bill late. Whether it be an hr or a month late is late. I was given a $2k limit and two months later they gave me a small but appreciated cli of $200 which brought my new cl to $2200. Since owning this card I have paid a total of $2 if I’m not mistaken. My credit score was in the 640’s when I decided to get back in the credit game because my wife and I were buying a house and would carry a relatively modest mortgage.

    In 10 months all of my scores have increased by a lot, Fico 8 Experian 725, Equifax 740, & Trans Union 737, Vantage 3.0 Experian 738, Equifax 744, & Trans Union 738 and one reason is because Credit One reports my onetime payments every single month like clockwork just like they would if you were late. And by the way credit card banks are not allowed to report a late payment to the credit bureaus unless you are at least 30 days late. Some of these reviews are exaggeration and or flat out lies and you only know the rules these cc issuers play by to know when some reviews are laughable!

    Btw I have never used the express payment and have had no trouble paying on time. Yep they take a few days to credit back posted payments to your cl but so does many other highly thought of banks. If you’re going to pay late and only pay a minimum balance every month by all means stay away from Credit One!! And Capital One, Chase, Citi, Wells, Amex, Apple Card, etc etc.. Thx & good luck.

    21 people found this review helpful
    Rated with 5 stars
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    Verified Reviewer
    Original review: April 3, 2020

    This company provided me two credit cards! One after I showed them after six months I was responsible with one account. I’m very thankful for this bank as they were my last resort to reestablishing my credit along with my Capital One that I have! When nobody else would approve me, This Bank was there for me when I needed them the most! If you’re going to have credit cards to pay interest and late fees and be Irresponsible, then of course you’re going to give a bad review... But if you are responsible and pay all your bills on time and not occur interest and late fees then I’m sure that you would give this company a four-star like I am!

    29 people found this review helpful
    Rated with 5 stars
    profile pic of the author
    Verified Reviewer
    Original review: March 21, 2020

    So anyone who knows of this company, may have pre-conceived ideas of who they are and what they offer. They were a company who helped me grow and establish my credit, the card offered great credit limits and pay dates and they have never given me problems with anything regarding my account. Yes they are fee driven and their rates are high, but well worth the time I have been with them. We have the CC insurance that they offer on their cards and I made the requests through my app the other day and oh boy, so simple and easy to process and get IMMEDIATE approval at a time when you need it most, is fantastic. I don't need to use the cards the 6 months of payments that will be made by the insurance coverage and that is no problemo. We APPRECIATE Credit One very much.

    16 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 4, 2020

    I have two cards with these crooks! One for $2250 and $500. First issue #1: I paid off my $500 card and decided not to use it because I wanted available credit from all my cards that I have for higher credit ratio. After a year of having my card they began charging $5 monthly for their annual fee. Mind you I had a “0” balance. I called and asked if they could charge it as a one time fee so I wouldn’t have a balance and they said they couldn’t it had to be monthly.. What!! Because of this I would always hold a balance with these ridiculous scammers!! Issue #2: Their scoring is crazy wrong. I mean not 5 or 10 points off. I mean 60-100 points off. I went to each of the bureaus site and got my score and credit one was off tremendously!! I’m not sure what system they use, but it’s totally inaccurate.

    Issue #3: On my $2250 card they were charging me $17 a month for credit protection which I did not sign up for!! I never noticed before until I looked at my statement. I immediately called them because I did not sign up for that. Please people look at your statements thoroughly.. I didn’t at first because I was spending crazy on that card and felt the charges were accurate. These people stole $17 a month for over a year because I was too stupid to look at my statements thoroughly. I say stole because I never ever signed up for credit protection!!! So they took it!!! Overall, since my $500 card is new I’m closing that card with those people. If I were you I would steer away!! They are crooks!!! Go somewhere who doesn’t charge annual fees or if so it’s a one time fee!

    4 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: July 30, 2020

    They gave me a chance when no one did and I made couple payments and automatic got a credit increase....I would recommend these cards to anyone. I absolutely love mine and it helps rebuild your credit....

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    Rated with 1 star
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    Verified Reviewer
    Original review: July 29, 2020

    My card got to a balance of less than $10. I submitted the payment, but they didn't process it by the due date, so they added late fees, reported it as past due. This went on for two months until I called them and had them process the payment over the phone and sent me a confirmation that the account was paid off and had a $0 balance. I would not recommend this credit card, under any circumstances. They do nothing to help you rebuild your credit.

    4 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: July 29, 2020

    Today, July 28, 2020 at 10:40 PM I was calling Credit One to make a payment to my card. A customer service agent answered the phone so fast and asked me for my social security and all my information to access my account, but he was being very very rude! His tone of voice was so aggressive! And since he was speaking so fast I couldn’t understand much of what he said, plus English is not my first language so I had to analyze first and then respond to his questions, and he got mad every time I asked him to repeat himself because I couldn’t understand, he spoke so fast and he was so aggressive in his tone of voice.

    I also told him that I wasn’t calling him specifically because I wanted to chitchat or something, I usually do my payments with the automated system but they don’t have one (which is a no no for me) so, I told him that I tried to use the online system to make the payment at first but the system wouldn’t take my information so I had to call and asked him if he knew why the system would not accept my information and he said “if you have questions it’s better that you call in the morning...” just like that. He didn’t gave his name or anything and that is so upsetting.

    3 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: July 27, 2020

    This bank charges you fees randomly and then charges you late fees when didn't use the card. The company claims to help customers build up credit, but they are a borderline fraudulent bank that should be shut down for their crooked practices. It is difficult to contact these crooks or pay your bill, absolutely no customer service. This bank is a joke and should be considered criminal for taking advantage of lower middle class and low income Americans. I WONDER WHY PEOPLE HATE BANKS, AND USURY IS CONSIDERED AN AWFUL SIN?

    7 people found this review helpful
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    Credit One Bank Company Information

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