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Credit One Bank® Credit Card

 

 
Overview
 

Product Details:
  • Visa Platinum status
  • 1% cash back on all gas and grocery purchases
  • Automatic credit line Increase reviews
  • Free online monthly credit score tracking
  • Updates on payment history sent to all major credit bureaus
  • $0 fraud liability
 
Card Reviews: ,
 
Card Features
 
 
 
 
 


 
Initial Fees
 
 
 
 
 


 
Average Monthly Fees
 
 
 
 
 


 
Bill Pay Fees / Features
 
 
 
 
 


 
Loading Fees / Options
 
 
 
 
 


 
Total Score
 
 
 
 
 


User Rating
3 total ratings

 

Things We Like


Pre-qualification means that applying for the card won’t negatively impact your credit score. One percent cash-back bonus on all gas and grocery purchases. No initial deposit required. And this card reports to all 3 major credit bureaus, meaning if you use it responsibly you will increase your credit score.

Things We Dislike


High APR and membership fees.


3
Posted February 17, 2015 by

 
Full Article
 
 

It happens to plenty of us. A few lean months or years may have led you to be late or even miss a mortgage or car payment. Or maybe you’re a student who has never had the chance to build credit at all. In either case, you may find yourself among the millions of other Americans who are deemed to be in the poor credit category. If you’re looking to build or rebuild that credit, you may want to consider the Credit One Bank Credit Card. This is an unsecured card – meaning that you don’t need to put down a deposit before you start using it – that offers a way to boost your credit score. In addition, this card offers Platinum Visa benefits as well as free online monthly credit score tracking. Cardholders can get unlimited 1% cash back on gas and grocery purchases, a nice benefit.  The card also offers customers the chance to choose a personalized design.

The annual membership fee is between $75 and $99 per year, with it being $75 for the first year and $99 thereafter.  The website says $0 to $75 and $0 to $99, but it is not made clear what qualifies for the $0 annual fee. The APR is pegged to the Prime Rate and typically varies between 15.65% and 24.15%. At the time of the review update, users had to click to apply for the card and then click on the Terms and Conditions link before they could see the rate and the information on the annual fee.  Most secured cards will carry some annual fee, but $75 and $99 are definitely on the very high end.

Bottom line: Customers who need to build or rebuild credit are considered high risk by card issuers. Because of that, high APRs and annual membership fees are the norm. There are definitely better interest rates and lower annual fees out there. but pending one's credit score and history, they may be difficult to obtain.  One can compare this versus secured credit cards, but, this card is unsecured and does not require the initial upfront deposit.  By using this card properly – which means paying your bills on time – means raise your credit limit over time and you can eventually upgrade to a card with better terms.

 


Curtis Arnold

 


3 Comments


  1.  
    Harley Merrick

    My wife was scammed by Credit One. Can you help us with this or send us in the right direction?

    She signed up for the card thinking it was a Capital One card. Then, the online section said no annual fee. They just sent the first statement and charged us the $75 annual fee. She doesn’t even have the card yet. We can’t get anybody in customer service. We would like to cancel it completely & not pay. However, we are struggling with the fact we might have to pay the annual fee and get stuck with a cancellation fee. Then, late charges if we wait. Any suggestions??




  2.  

    I checked the website and they report in their Terms & Conditions that they will refund the annual fee if there are no transactions on the card. Unfortunately, it may just mean spending some time on the phone until you can actually speak to someone.

    I found this website that offers tips on getting to speak to a person to help take care of the issue.

    https://gethuman.com/phone-number/Credit-One-Bank

    Good luck!




  3.  
    Harley Merrick

    Got it cancelled! Finally got a human voice. They didn’t want us to cancels and tried every incentive imaginable. Thanks for your help!





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