The Ultimate Guide to Credit Cards
Wednesday, April 17, 2024

Credit One Bank: Reviews & 5 Best Offers (April 2024)

Credit One Bank Reviews
Brittney Mayer

Written by: Brittney Mayer

Brittney Mayer
Brittney Mayer

Brittney is a Credit Strategist and Finance Expert who has spent years honing her knowledge of the credit industry both personally and professionally. Brittney applies her more than a decade of research experience to crafting in-depth consumer guides designed to help CardRates readers make better, more informed financial decisions.

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Edited by: Lillian Guevara-Castro

Lillian Guevara-Castro
Lillian Guevara-Castro

Lillian Guevara-Castro brings more than 30 years of editing and journalism experience to the CardRates team. She has written and edited for major news organizations, including The Atlanta Journal-Constitution and the New York Times, and she previously served as an adjunct journalism instructor at the University of Florida. Today, Lillian edits all CardRates content for clarity, accuracy, and reader engagement.

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Advertiser Disclosure

In the marketing world, mimicking another company’s logo can certainly cause confusion. Similar company logos can sometimes cause consumer confusion — take Credit One and Capital One’s swoosh-inspired designs, for example. 

But although these credit card issuers have similar logos, each has made its own distinct credit card contributions. Capital One may be the bigger name, but Credit One has also risen to become one of the largest credit card issuers in the US.

We’ll take a look at some of Credit One’s card offerings below and dive into some of the Credit One Bank reviews that can be found online. If you don’t think Credit One cards are the right fit for you, we’ll also explore a few alternate cards.

Our Take | Other Reviews | Top 3 Alternatives

Our Take: Credit-Building Visa Cards With Cash Back Rewards

At a glance, the Credit One line of credit cards is similar to a variety of other basic rewards cards. Qualifying applicants can receive cash back on eligible purchases and rebuild their credit scores while they earn.

The caveat here, however, is the “qualifying” part. Credit One has more than a dozen cards, including cash back credit cards, each with its own set of approval requirements and rewards structures.

For example, the bank offers several different cash back rewards programs. You may qualify for a Credit One Visa with 1% cash back on all eligible purchases while other cards limit rewards to purchases in specific categories, like gas and grocery purchases.

You may also qualify for a secured card or an unsecured card with no rewards. Its secured credit card requires a security deposit for approval. You can see which Credit One credit cards you qualify for by filling out the pre-qualification form, which is the first stage of the Credit One application process.

Credit One Prequalification Form
You can prequalify for a card on the issuer’s website without hurting your credit score.

In addition to your rewards varying with your credit score, so, too, will the size of your interest rate and annual fee. Interest rates range widely and vary with the prime rate.

The most qualified applicants may be offered a Credit One card with no annual fee, but applicants at the other end of the credit score range may need to pay an annual fee of up to $99. After the first year, the fee is broken into 12 monthly payments made throughout the year. Check your individual cardholder agreement for exact terms.

Whether your card comes with a new purchase grace period will also vary by card offer. The grace period is the time spanning from when a purchase is posted to when that bill is due, and most credit cards will not charge you interest if you pay off all of your purchases before the end of the grace period (i.e., your billing due date). Credit One cards without a grace period will start charging interest as soon as your purchase posts.

Because there is so much variation in the credit card company’s offerings, the quality of your Credit One credit card will depend entirely on which offer you get. If you’re one of the well-qualified applicants who obtain a card with no annual fee that can earn rewards on anything, then you may have found a solid card option for rebuilding credit.

For other applicants, the potentially high fees and lack of a grace period may be a dealbreaker.

Other Reviews From Across the Web

As you may expect from a credit card issuer with so many variations to its cards, the reviews on Credit One from across the web are also a mixed bag. Some users are content with their choice of credit-building cards, with particular emphasis being placed on how quickly some cardholders received credit limit increases.

This card does what it promises to do, promptly. If you’re rebuilding your credit, this is your big chance. I got this card with a $400 CL. An annual fee of $75 came out immediately after activating the card, which left me with a $325 spending limit. I used some of the funds and paid the balance in full before the due date. In one month, I got an email stating they’ve raised my CL by $200. Yes, one month. I was so excited. — a WalletHub Reviewer

At the same time, many reviewers complain about Credit One’s customer service, billing systems, and online services. Many cardholders report that the website and mobile app frequently have issues, making it difficult to make online payments,

The card itself is fine, but customer service & paying your bill is a nightmare. The phone options seem to be different for some users, I cannot get a person on the line at all, there is NO ‘speak to a customer service rep’ option, and there is NO phone pay option unless you are willing to pay the $9.95 ‘Express Pay’ fee. You cannot pay by phone as a regular payment, regular payments can only be done online. HOWEVER, their website seems to be down more than it’s up, and there is no way to contact anyone about it. Currently, their site has been down for over a week, but my payment (and, judging from the hundreds of online complaints, everybody’s else’s payment) is due tomorrow, and I cannot make it simply because Credit One has not provided any way to do so. Now I (and how many others…?) will be hit with a late fee because of Credit One’s inability to provide a working website. — a Credit Karma Reviewer

Making matters more frustrating for many, reviewers indicated that mailing payments aren’t always a sure bet, either, even when sent well before the due date.

I’ve had a $0 balance for about a year. They started adding 1/12th of my yearly device fee onto my monthly statement. I pay it. This month, I sent my $8.33 check out on the 11th, for a due date on the 23rd. They didn’t cash it, and added a late fee. It may be plausible to be late if my check went out a couple days before the due date, but not 11 or 12 days. It is incredibly hard to get someone on the phone, and the customer service is terrible. I’m closing my account as soon as they remove the charges, as promised. This company is garbage, and they prey on people. Beware. — a Consumer Affairs Reviewer

So, as with the actual card you get from Credit One bank, the experience you have with the company’s customer service and billing systems may also vary widely. For those who don’t run into these common problems, the card seems to offer a solid way to build credit and earn rewards. For everyone else, it may not be the best option.

Top 3 Alternatives For Bad Credit

Given the variations in offers from Credit One, your credit score may not qualify you for a card with low rates, a grace period, or rewards. In this case, your best bet for a quality credit-building card may be to explore other credit card options for bad credit. With a little research, you can likely find a wide variety of credit cards with flexible credit requirements, including some that charge no annual fee regardless of your credit score.

Your main options with poor credit will be store cards — which are often restricted to store-branded purchases — secured credit cards (which require a deposit), or unsecured subprime cards, which may charge higher fees. You can compare your options to find the best card for you, starting with our expert-rated picks.

Secured Chime Credit Builder Visa® Credit Card Review

at the issuer'ssecure website

BAD CREDIT RATING

★★★★★
4.8

OVERALL RATING

4.5/5.0
  • No credit check to apply
  • Adjustable credit limit based on what you transfer from your Chime Checking account to the secured deposit account
  • No interest* or annual fees
  • Chime Checking Account and qualifying direct deposit of $200 or more required to apply. See official application, terms, and details link below.
  • The secured Chime Credit Builder Visa® Card is issued by The Bankcorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.
  • *Out-of-network ATM withdrawal and OTC advance fees may apply. View The Bancorp agreement or Stride agreement for details; see back of card for issuer.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
$0
None
FIT™ Platinum Mastercard® Review

at Continental Finance'ssecure website

BAD CREDIT RATING

★★★★★
4.7

OVERALL RATING

  • $400 credit limit doubles to $800! (Simply make your first 6 monthly minimum payments on time)
  • All credit types welcome to apply
  • Monthly reporting to the three major credit bureaus
  • Initial Credit Limit of $400.00 (Subject to available credit)
  • Fast and easy application process; results in seconds
  • Use your card at locations everywhere Mastercard® is accepted
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
29.99%
$99
Fair/Poor/Bad

BAD CREDIT RATING

★★★★★
4.7

OVERALL RATING

  • Earn 1% cash back rewards^^ on payments made to your Revvi Credit Card
  • Perfect credit not required
  • $300 credit limit (subject to available credit)
  • Checking account required
  • Opportunity to request credit limit increase after twelve months, fee applies
  • *See Rates, Fees, Costs & Limitations for complete offer details
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
See website for Details
N/A
35.99%
$75.00 1st year, $48.00 after
Fair

+See More Cards for Bad Credit

Customize Your Credit One Card With More Than 20 Designs

While we’re not supposed to judge something solely on its appearance, we do anyway. Despite similarities in their respective logos, Credit One and Capital One are not the same company. If you are trying to apply for one and not the other, read your application carefully to avoid confusion.

If you happen to have cards from both issuers in your wallet, the easiest way to differentiate may be to choose a distinctive card image for your Credit One card. You can choose from more than 20 card designs to customize your Credit One credit card and really make it stand out. But be advised that you may need to pay a fee for a custom card.

Advertiser Disclosure

CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation for referrals for many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across CardRates.com (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.