Credit One Bank Visa Cash Back Rewards review | finder.com

Credit One Bank® Visa® Cash Back Rewards review – December 2018

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Credit One Bank® Visa® Cash Back Rewards Learn more Apply now

Don't worry, clicking "Apply now" won't leave a mark on your credit report. It may only appear on your report after you submit an application.

What happens when I click Apply now?
  • Clicking Apply now will take you to your online application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will typically receive your credit card within 1-2 weeks
Click here to start your application >>

Rebuild your credit while earning rewards.

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With the cash back card from Credit One Bank, you can be rewarded for spending while boosting your credit score.

Product NameCredit One Bank® Visa® Cash Back Rewards
Card TypeVisa
Annual Fee$0 to $99
APR (Annual Percentage Rate) for Purchases19.99% to 25.99% variable
Cash Advance Rate25.99% variable
Foreign Transaction Fee3% of the transaction value or $1, whichever is higher
Cash Advance Fee$10 or 3% of the cash advance amount, whichever is greater
Interest Free PeriodUp to 24 days
Late Payment Fee$38
Returned Payment Fee$38
Additional Cardholder Fee$19
Minimum Age18 years of age
Apply now

Credit One Bank® Visa® Cash Back Rewards review

Getting rewarded for your everyday spending can make a difference between a good card and a great one. The Credit One Bank® Visa® Cash Back Rewards card provides rewards and a straightforward approach to building your credit.

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’s annual fees for some of their cards are on the higher end. Though those fees are broken up over each month the second year, they may not be to your liking.

The nuts and bolts

  • Based on your creditworthiness, the variable monthly APR for purchases will be from 19.99% to 25.99% variable.
  • The cash advance rate is 25.99% variable.
  • Each cash advance is $10 or 3% whichever is greater.
  • 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.
  • At most, late payment fees are $38.
  • Returned payment fees will also only go up to $38.
  • 5% of your outstanding balance is required as a minimum payment each month, or $25, whichever is more.
  • The minimum interest charge is no less than $1.

How much cashback rewards can I earn with the Credit One Bank® Visa® Cash Back Rewards?

Depending on your credit, you may earn 1% cash back on all purchases. Here’s how much cash back you might earn at that rate, based on these sample budgets:

  • $300 a month x 1% = $36 cash back a year
  • $500 a month x 1% = $60 cash back a year
  • $1,000 a month x 1% = $120 cash back a year

How much do I have to spend to make the annual fee worth it?

Your cashback rate depends on your credit, and so does your annual fee. If your annual fee is $99, you’ll want to earn enough cash back to make it worth paying.

At a 1% cash back rate on all purchases, you’d need to spend $9,900 to break even on a $99 annual fee.

Compare cash back credit cards

Name Product Filter values Annual Fee APR for Purchases (Purchase Rate) Intro APR for Balance Transfer
$0
16.99% to 25.74% variable
0% for the first 15 months (then 16.99% to 25.74% variable)
0% intro APR for 15 months from account opening on purchases and balance transfers.
$0
16.99% to 25.74% variable
0% for the first 15 months (then 16.99% to 25.74% variable)
0% intro APR for 15 months from account opening on purchases and balance transfers.
$95
14.99% to 25.99% variable
0% for the first 12 months (then 14.99% to 25.99% variable)
Earn $200 bonus cash back after you spend $1,000 on purchases in the first 3 months. Rates & Fees
$0
14.99% to 25.99% variable
0% for the first 15 months (then 14.99% to 25.99% variable)
Earn a $150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & Fees
$0
14.99% to 25.99% variable
0% for the first 15 months (then 14.99% to 25.99% variable)
Earn up to $250 back. Earn $150 back after you spend $1,000 or more in purchases with your new card within the first 3 months of card membership. Plus, earn an additional $100 back after you spend an additional $6,500 in purchases within your first 12 months. Rates & Fees
$0
14.99%, 18.99% or 24.99% variable
0% for the first 15 months (then 14.99%, 18.99% or 24.99% variable)
Earn unlimited 1.5% cash rewards on purchases. See Rates and Fees.
$0 to $99
19.99% to 25.99% variable
Get 1% cash back rewards on eligible purchase, terms apply.
$0
15.49% to 25.49% variable
0% for the first 18 months (then 15.49% to 25.49% variable)
Earn 1% cash back when you pay off your card, on top of the 1% cash back you earn when you make purchases. No annual fee.

Compare up to 4 providers

Fees & payments

  • If you would like an authorized user for your account, you will be charged $19
  • Cash advance fees are $10 or 3% whichever is greater, of each cash advance
  • Late payments cost $38
  • Returned payments cost up to $38

The perks

  • Qualified applicants will receive a card with a competitive APR and no annual fee along with 1% cash back rewards on all purchases, terms apply
  • View updates to your Experian credit score with free online access, terms apply
  • Make paying your bill easier with the ability to choose your payment due date, terms apply
  • Access your account on-the-go with the Credit One Bank mobile app
  • Never miss an account update with customizable text and email alerts
  • Show off your personality by selecting from a variety of card designs, a fee may apply

Landmines

The variable APR and annual fees for Credit One 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.

Pro tip

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 know your way around credit cards, you should be just fine.

Apply now

How to apply

To apply now, just get together a few important documents. You will need your Social Security number, address, and monthly income. By clicking our affiliate link, you will be able to sign up for pre-approval and get matched with the card that is right for you.

Eligibility requirements

  • 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

How do I redeem rewards from the Credit One Bank® Visa® Cash Back Rewards?

You don’t need to do anything to redeem your rewards — Credit One Bank will redeem them as statement credit every month.

Bottom line

When considering any credit card, it’s important to shop around. However, if you’re after an all-around rewards credit card that can get you cash back on your spending and let you to keep tabs on your credit score, the Credit One Bank® Visa® Cash Back Rewards could be the card you’ve been searching for.

FAQs

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2 Responses

  1. Default Gravatar
    RafaelMay 19, 2018

    What is minimum interest charge $1.00?

    • finder Customer Care
      JeniMay 19, 2018Staff

      Hi Rafael,

      Thank you for getting in touch with finder.

      A minimum finance charge is the least amount of interest a borrower will have to pay their credit card company in a particular billing cycle if a balance has accrued. For most credit cards the minimum finance charge is usually $1.00.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

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