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.
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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.
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!
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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.
CreditOne is the absolute biggest crooks I’ve ever had the misfortune of dealing with. I don’t want to get into it, just know going in that they will lie, cheat and scam you out you hard earned money. Look at their abysmal rating before dealing with them. AVOID! AVOID! AVOID!
Very disappointment with this card. First there was an annual fee which I missed in the fine print. Second they charge interest on every transaction at a high rate. I realize that I have just gone through a bankruptcy due to a failed business. I really don't have the problem with the annual fee if I would have known up front instead of the fine print but interest on all purchases regardless of payoff no way no how. Could have gotten a prepaid card that builds credit without interest unless you are late on your payment.
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I would love to leave 0 stars or NEGATIVE stars. I tried to use my card and it was declined. Log into the website see my credit limit, shows the normal amount. Balance due $0 BECAUSE I PAY IN FULL EACH MONTH. Available credit 0. Call and told they closed my account....WHICH WAS IN GOOD STANDING. They could not tell me why but that a letter was mailed over a week ago. This company is a bunch of shysters. Waiting for them to reissue this letter that is supposed to tell me why someone who pays on time and IN FULL gets their account randomly closed. DO NOT TRUST THESE PEOPLE.
DO NOT OPEN AN ACCOUNT WITH THIS COMPANY! I have had two cards with them and pay them off every month. In March of this year I see my statement and there are over $800 in fraudulent charges. One of the charges is for $650 at at grocery store. The crooks had tried to use the card at a Walmart and it was declined. But the Kroger AND these idiots approved a charge for $650. So I call in and report this. I did NOT lose my card and it was in my possession. Furthermore these stores are nowhere close to where I live. The customer service rep flags my account, they send me another card, and do an investigation.
Fast forward to 3 weeks ago and I open my account app and see ALL the charges have been added back on to my account. I called again and was told that it was proven the card was used with a chip, and THUS I am accountable. I lost my everloving mind on these people. I told them they DID NOT do an investigation because if they pulled the security cameras they would have seen that it was not me. The brazen thief's even got gas at the Kroger gas station right next to the store. I use Exxon and Shell only for the detergents in the gas, and do not use grocery store gas due to the issues with my car.
I was told to REOPEN the investigation, I had to make a police report. And lo and behold, another credit card was stolen from my mailbox and somehow activated. The jerks went to Kroger again, and spent 350.00 and then filled up their car again. I called the police and also Chase Bank and they plan to open a very thorough investigation as I never even received this card. But obviously to anyone with a brain these are the SAME people.
So I have had to yet spend valuable time trying to deal with Credit One and resend in everything I had before with a police report. The very fact that Walmart turned the card down for no ID, and then they went across the street, would tell a fraud investigator that it WAS NOT ME! I have an ID to match the card. But not these people. Oh no. So when this is over I will close over 3 grand in credit just to get away from them and will tell everyone I can about this deplorable treatment. I let Credit One know in advance this was going to happen. They could care less. Try Merrick Bank if you need a good card without a sky high credit score and much better customer service. STAY AWAY from this outfit.
Absolute horrible customer service. Supervisors are never available to talk to. They cannot provide you with up to date banking information in a timely manner when requested. They give you the constant runaround. It took over 2 years to get a credit increase even though I pay off my balance every month, but they're quick to tag you with fees for everything. I'll be closing my account very soon and letting everyone know to avoid this company at all costs.
Only take this card if it is a last resort. They charge a very high yearly fee. They also charge a fee to get a credit line increase, and another fee to replace a stolen card. I called to let them know that my card was stolen and that it might get used for fraudulent charges. They did not seem to care and charged me $25 to get a replacement card. They were the only card to do this out of all of my accounts. If you can get a card anywhere else, do it, and stay away from this company.
The customer service lady was horrible!! She ask me three time why I am calling. I could understand if the phone was breaking up and she couldn’t hear me but it’s like her mind was somewhere else. I wanted to dispute a transaction that was on my account and it’s like she have no idea what to do about the situation. Of course am now upset that she can’t help me so my voice got louder and she went louder than me. She told me I have to hang up and select option 3. I asked her why she can’t transfer me to the department who handle my concern. She said she don’t have the ability to do that I have to hang up and go back to the main menu. I hang up and called again and option three does not have anything to do with disputing transaction. So I am left disappointed because I still have a charge on my account and I can’t get it resolved.
Credit One Bank Company Information
- Company Name:
- Credit One Bank