Credit One VS. Capital One – What are the Differences?
Written by: Eric Bank
Eric Bank
Eric Bank has been covering business and financial topics since 1985, specializing in taking complex subject matters and explaining them in simple terms for consumer audiences. In addition to his work on CardRates.com, Eric has appeared regularly on Credible.com, eHow, WiseBread, The Nest, Get.com, Zacks, Chron and dozens of other outlets. Eric holds an M.B.A. from New York University and an M.S. in finance from DePaul University.
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.
Credit One vs. Capital One — what are the differences between these two credit card issuers? Although they sound and look alike, make no mistake that Capital One and Credit One are very different.
Capital One Bank is a dominant card issuer and suits folks of all credit scores. Credit One Bank is a smaller financial institution that mostly caters to consumers with bad or no credit. Capital One has more than 60 million cardholders; Credit One has 12 million and growing.
Capital One Is a Large Bank With Diversified Offerings
Capital One is a Fortune 500 diversified bank with a broad offering of financial services and products to consumers and businesses. It is among the top 10 largest banks in the U.S. with respect to deposits. It has more than 750 branches, primarily located in the District of Columbia, Louisiana, Maryland, New Jersey, New York, and Virginia.
Capital One offers credit cards with many benefits:
Online Banking Access: Allows you to easily and quickly manage your account whenever.
Capital One Wallet App: Provides instant purchase notifications, receipt capture, digitized gift cards, and purchase details.
24/7 Customer Service: Available from real human beings.
Automatic Account Alerts: Alerts via email or text keep you up to date on your account, as well as 24/7 monitoring and security alerts to inform you whenever unusual activity is detected.
Fraud Coverage: Interactive alerts in real time via email, text, or phone whenever fraudulent use of your card is attempted, with 100 percent coverage against fraud liability.
No Foreign Transaction Fees: Never any on international purchases.
Travel & Auto Rental Insurance: For peace of mind when you’re away from home.
Free Capital One Credit Tracker: Provides your credit score, a what-if simulator, and more.
Second Look Program: Recognizes and informs you of unusual or duplicate charges.
Digitally Enhanced Transaction Details: Allows you to keep track of all your activity.
Extended Warranty: Additional coverage on items purchased with a Capital One Card.
Capital One is always refining its card lineup and has one of the largest card portfolios of any major issuer. Below are some of our top recommendations:
Capital One Credit Cards for Excellent Credit
If you have excellent credit, you might select among these three Capital One cards:
Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
Earn unlimited 1.5% cash back on every purchase, every day
$0 annual fee and no foreign transaction fees
Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases
Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024
Earn 8% cash back on Capital One Entertainment purchases
Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), with 1% on all other purchases
Early Spend Bonus: Earn $50 when you spend $100 in the first three months
Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024
Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
Enjoy no annual fee, foreign transaction fees, or hidden fees
Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
The following cards are secured, meaning they require a security deposit for approval. But these cards offer the technology and convenience that comes with working from a large trusted bank, and a quick path to improving your credit and potentially upgrading to an unsecured card.
Credit One Bank Is a Smaller Financial Services Company With Limited Offerings
According to its website, “Credit One Bank is a technology and data-driven financial services company based in Las Vegas, Nevada.”
Credit One cards were originally targeted at consumers with poor credit, and it still primarily serves that demographic. But it has since introduced products for consumers with good to excellent credit, including its Platinum X5 Visa and Credit One Bank Wander™ Card with cash back rewards.
Their subprime cards offer various features, such as zero fraud liability, automatic alerts, automatic reviews for more credit, and free credit tracking, but usually have low credit limits ($300 to $500).
Similar names, similar logos.
Credit One reports monthly to all three major credit bureaus, which is important for rebuilding your credit. But beware that some Credit One cards don’t have a grace period and will charge interest starting on the posting date, not the monthly payment date.
All Capital One cards have an interest-free grace period.
Don’t Let the Similar Names Confuse You
These issuers may have similar names and logos, but they are very different. Capital One has a vast card portfolio and offers great benefits, reasonable rates, and leading technology features. Credit One generally charges higher fees, but they do report your activity to the credit bureaus, so over time you can raise your credit score and apply for better cards.
Before you apply for a new card, be sure you know which credit card company you are filling out an application for, and that your credit history aligns with the card’s requirements.
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