A Credit One credit card can help you rebuild your credit one step at a time.
Get back on the right track and build your credit history.
Rebuilding your credit history takes patience and time. It can be frustrating to set out with the intention of getting your credit score back on track, but then get your new card applications rejected. Credit One Bank offers several card options that are geared toward people who are looking to raise their score, as well as rewards cards for those who qualify.
Considering a new credit card is a big decision. It should be made only after you’ve looked over all of your options. Credit One Bank does have annual fees for some of their cards, which are on the higher end. So consider if you are willing to pay the fee.
Credit One Bank Platinum Visa Credit Card
Having poor credit can be limiting financially. If you have bad credit, you may be able to rebuild your score with this card from Credit One Bank.
- Rebuild credit. This card is designed for people with bad credit, and can help you rebuild your credit score.
- Track your score. Get free access to your credit score online. Credit One Bank reports to all three major credit bureaus.
- Quick application. You can get prequalified in 60 seconds, and it won’t affect your credit score.
The nuts and bolts
- Based on your creditworthiness, the monthly APR for purchases will be from 16.99% to 24.99% variable
- Each card has its own annual membership fee, which ranges from $0 to $75 first year and $0 to $99 each subsequent year
- The cash advance rate also varies based on creditworthiness and can be anywhere from 18.90% to 25.90% variable
- Each cash advance is $5.00/8% or $10.00/3%, whichever is greater (see terms)
- Cash advances are limited to 25% of your assigned credit limit
- At minimum your credit line will be $300
- When making purchases in countries outside the U.S., the currency conversion will mirror the rates of Mastercard and Visa
- Late payment fees – $37
- Returned payment fees are up to $35.00
- 5% of your outstanding balance is required as a minimum payment each month, or $25, whichever is greater
- Regardless of the chosen card, the minimum interest charge is no less than $1
- Must be 18 years of age or older
- U.S. citizen or resident with a local address
- Have a valid Social Security number
Application requirements checklist
- First and last name
- Email and phone number
- Street address
- Social Security number
- Date of birth
- Total monthly income
Fees & payments
- Annual membership is $0 to $75 first year and $0 to $99 every year after.
- If you would like an authorized user for your account, there is an annual $19 fee
- Cash advance fees are $5.00/8% or $10.00/3%, whichever is greater (see terms)
- Late payments cost up to $37
- Returned payments cost up to $35.00
Credit One Bank allows customers to build their credit score back up with a fairly straightforward program that includes reward cards that can give up to 1% cash back on eligible purchases. Cardholders also get the opportunity to see their credit score every month to track their progress.
When considering any credit card, it’s important to shop around. The variable APR and annual fees for Credit One Bank may be a bit steep for some customers’ liking. There is also some apprehension around the timeliness of customer service by other consumers. To avoid these pitfalls, it is important to fully understand the monthly payments you will be making (even if you aren’t carrying a balance) and the variable percentage rates.
If you’re considering a credit card and want to work with a customer service agent directly, or on a regular basis, this may not be the card for you. If you’re independent and confident you can pay the annual fee and make your monthly payments, you should be just fine.
How to apply
Always consider your options and your financial situation before you apply for a credit card.
To apply now, get together a few important documents. You will need your Social Security number, address, and monthly income. Click here to sign up for pre-approval and get matched with the card that is right for you.