A credit-building option but be careful of its annual fee.
- Get this card if you’re rebuilding credit and want an unsecured card
- Pick something else if you don’t want the possibility of paying an annual fee, or if you want a grace period.
- You can get prequalified with any credit score, though prequalification doesn’t guarantee approval.
- Potential $0 annual fee.
Depending on your credit, you may pay no annual fee for your card.
- Rewards: 1% cash back on all purchases if you qualify.
You may receive 1% cash back in other categories — such as gas, groceries and dining — based on Credit One Bank’s discretion.
- You’ll get at least a $300 credit line.
You’ll also be regularly considered for a higher credit limit, though the bank does not disclose how often its customers will be considered or how the final evaluation is made.
- Monitor your credit score.
You can check your Experian Scorex credit score for free each month. This can help you track your progress as you build your credit. Note that this isn’t a FICO score, which is what most banks use to make lending decisions. Other providers will give you access to your FICO score.
- Visa benefits. You’re covered by travel accident and auto rental collision insurance when you pay for eligible itineraries with this card. You’ll also receive shopping discounts from Visa.
- Credit One extras.
You can opt in for Credit Protection, which helps cover your card payments if you’re involuntarily unemployed or disabled.
- You may pay a fee for a credit limit increase.
According to the credit card’s terms, this fee can be anywhere from $0 to $49. This fee can be incurred even if you did not request the increase.
- Benefits depend on your credit.
Your first-year annual fee may be as high as $75, and your ongoing annual fee may be as high as $99. With weaker credit, you may pay an annual fee at the higher end of these ranges, which will be deducted from your credit line. Your credit also affects your ability to earn cash back in select categories. With weaker credit, you might not qualify for 1% cash back on all purchases.
- You might not receive a grace period.
With most credit cards, you’ll receive a grace period of at least 21 days to pay your card balance. If you do, your balance won’t accrue interest. This card may or may not have a grace period. If it has one, the grace period will be at least 24 days after the close of each billing cycle. If it doesn’t, your purchases will accrue interest immediately after they post to your account.
- 18 years of age or older
- United States resident, residents of US territories aren’t eligible
- You have a valid Social Security number
- First and last name
- Email and phone number
- Mailing address
- Social Security number
- Date of birth
- Total monthly income
- Call Credit One to activate your card. The activation code will be printed on a sticker attached to your new card.
- Check if your card has a grace period. If it doesn’t, consider paying off your purchases soon after you make them. This will keep your balance from accruing too much interest.
- Set up your online account Go to the Credit One website and click Set up online account access in the login box.
- Avoid payment fees. There are two types of online payments: Standard Payment and Express Payment.
Standard Payment is free, but it may take up to seven days for your payment to post to your account. Express Payment costs $9.95, but your payments will typically post within two days.
- Contact customer service. If you have issues with your account, call the number on the back of your card.
- Avoid fees. There are few fees to watch out for. For instance, you might want to avoid making foreign transactions with this card as each transaction will incur a fee of $1 or 3%, whichever is greater. Late and returned payments come with fees of up to $39 per infraction. You’ll also incur high fees with cash advances.
|Product Name||Credit One Bank® Visa® Cash Back Rewards|
|Annual Fee||$0 to $99|
|Standard Purchase APR||20.24% to 26.24% variable|
|Intro Purchase APR|
|Intro Balance Transfer APR|
|Cash Advance Rate||26.24% variable|
|Cash Advance Fee Description||Either $5 or 8%, or $10 or 3% of each cash advance, whichever is greater (terms apply)|
|Foreign Transaction Fee||3% of the transaction value or $1, whichever is higher|
|Interest Free Period||Up to 24 days|
|Late Payment Fee||Up to $39|
|Late Payment Fee Conditions||Terms apply|
|Returned Payment Fee||Up to $39|
|Returned Payment Fee Conditions||Terms apply|
|Additional Cardholder Fee||$19|
|Minimum Age||18 years of age|
|Rewards||1% cash back on all purchases or in categories based on Credit One Bank’s discretion|
|Base Rewards||1% cash back|
|Rewards Points Expiry||Never|
Credit One Bank lets you pre-qualify for its cards. One product you may pre-qualify for is the Credit One Bank® Visa® Cash Back Rewards.
For a credit-building product, it might offer decent perks such as cash back and no annual fee. However, neither perk is guaranteed. And you won’t know your exact terms until after you apply for the card and are approved.
Overall, the Credit One Bank® Visa® Cash Back Rewards may be an option if you’re having trouble getting approved for other unsecured credit cards. But before applying, understand its significant weaknesses and potential fees.
Note Credit One is not affiliated with Capital One, though their name and logo appear similar.
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What should I know before I apply?
To apply for this card, you’ll need just a few pieces of information.
Information you’ll need
What do customers say about the Credit One Bank® Visa® Cash Back Rewards?
Many cardholders say they’ve encountered poor customer service and technical issues on Credit One Bank’s website. Others say the bank charges very high fees.
Credit One Bank has an A- rating from the Better Business Bureau. It currently has over 1,200 complaints on its profile.
Be sure to pay your bill as early as possible in case of technical issues, and read your card agreement in its entirety to avoid being surprised by any fees.
How to apply for the Credit One Bank® Visa® Cash Back Rewards
1. By applying for the card using this affiliate link, you can apply for pre-approval and get matched with the appropriate Credit One Bank card.
2. Complete the pre-qualification form with your name, contact details, Social Security number and total monthly income.
3. Review your information and click See card offers.
4. If you qualify, you’ll see the option to apply for a Credit One product. You may need to submit an additional application or other details. If you’re approved for a card, you can typically expect it in the mail within 7 to 10 business days.
I got the card. Now what?
The Credit One Bank® Visa® Cash Back Rewards may be an option if you’re having trouble getting approved for other unsecured credit cards.
However, one of its biggest weaknesses is you won’t know your terms until you apply and are approved. Prepare for the possibility of limited cash back, high annual fees and no interest grace period.
If you need another option for building credit, consider a secured credit card.