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Credit One Bank® Platinum Rewards Visa Review

The strongest card available from a bank known for entry-level cards.

finder.com’s rating: / 5

★★★★★

  • Get this card if you have credit on the lower end of the good range and want a chance at a 5% cashback card.
  • Pick something else if you can qualify for a stronger 5% card from another provider or if you prefer a flat-rate cashback card.
  • Apply with a good credit score of 670 or higher.
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Up to 5%

Cash back

$95

Annual fee

23.99%

Purchase APR (variable)

670

Recommended credit score

Details

Annual fee$95
Welcome offerN/A
Rewards5% cash back on the first $5,000 of eligible gas, grocery, internet, cable, satellite TV and mobile phone service purchases annually, then 1% on all other purchases
Purchase APR23.99% variable
Balance transfer APRN/A
Minimum Credit Score670

Review by


Steven Dashiell is Senior Writer, Personal Finance at Finder specializing in all things credit cards. With more than 300 articles under his belt, he aims to help readers embrace credit cards and maximize their rewards. Steve is studying to become a Certified Educator in Personal Finance, and is a frequent face on Finder’s YouTube channel, offering the latest in credit card hacks and advice. His expertise has been featured on numerous outlets, including U.S. News & World Report, NASDAQ, Time, CBS, Fox Business, Lifehacker, Martha Stewart Living and more.

Expert review

The Credit One Bank® Platinum Rewards Visa is one of the more powerful cards you can obtain from Credit One, if not the most powerful. It requires a $95 annual fee and earns 5% cash back on eligible gas, groceries, internet, cable, satellite tv and mobile phone purchases on up to $5,000 in combined purchases each year, reverting to 1% back after that. It also can earn up to 10% cash back on purchases with select merchants and possesses a 23.99% variable APR.

How to apply for the Credit One Bank® Platinum Rewards Visa

You can apply for the Credit One Bank® Platinum Rewards Visa only if you prequalify. Find out if you prequalify by doing the following.

  1. Go to the provider's site and select Apply now.
  2. Fill out your requested information, including your name, address, email address, phone number, Social Security Number, date of birth and monthly income, and click See card offers.
  3. You’ll be taken to a screen with your credit card offers. If the Credit One Bank® Platinum Rewards Visa is on this list, you can apply as normal.

You may also receive a pre-qualification letter in the mail. You can follow the instructions listed in the letter to apply for the card.

Credit One Bank® Platinum Rewards Visa benefits

  • Earn cash back. You’ll earn 5% cash back on eligible gas, groceries, internet, cable, satellite tv and mobile phone purchases on up to $5,000 in combined purchases each year, reverting to 1% back after. You’ll earn 1% back on all other purchases. This is a wide variety of included categories for a 5% card, which means it’s easier to max your rewards on this card compared to your average 5% card.
  • Bonus earnings. You can earn 10% back on eligible purchases with participating retailers without the need to activate these offers.
  • Access to your credit score. You can view your credit score with Experian for free once a month.

Credit One Bank® Platinum Rewards Visa drawbacks

  • No signup bonus. You can’t earn a signup bonus with this card after reaching a certain spending threshold. Most cashback cards on the market as of July 2021 offer anywhere from $50 to $200 as a bonus.
  • No intro APR. You won’t find an intro APR on either purchases or balance transfers with this card.
  • Annual fee. This card costs $95 a year to use. This is a bit pricey for the overall lack of features.

Compare cashback credit cards

1 - 3 of 26
Name Product Welcome Offer Rewards Annual fee Filter values
Capital One Quicksilver Cash Rewards Credit Card
$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 and % cash back on hotels and rental cars booked through Capital One Travel (terms apply)
$0
More than an unlimited 1.5% cash back card: you'll also earn % cash back on hotels and rental cars booked through Capital One Travel (terms apply).
Capital One SavorOne Cash Rewards Credit Card
Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
3% cash back on dining, entertainment, popular streaming services and at grocery stores, 1% on all other purchases. Plus, earn % cash back on Capital One Entertainment purchases and tickets at Vivid Seats, and % cash back on hotels and rental cars booked through Capital One Travel (terms apply)
$0
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. Plus, earn 8% cash back on Capital One Entertainment purchases and tickets at Vivid Seats.
Venmo Credit Card
N/A
3% cash back on your eligible top spend category, 2% back on your second top spend category and 1% on the rest
$0
A cashback credit card that lets you auto-purchase the crypto of your choice from your Venmo account.
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Credit One Bank® Platinum Rewards Visa customer reviews and complaints

Credit One Bank is accredited with the Better Business Bureau and has an A- rating as of September 2021. However, they’ve also posted an alert noting a pattern of complaints from consumers through their site regarding billing/collection issues.

The provider currently sports a 1.5 out of 5 rating on Trustpilot, with site complaints including mention of poor customer service and unusual account charges.

Bottom line

The Credit One Bank® Platinum Rewards Visa is a respectable card from Credit One bank and best serves as a credit-building tool for people on the cusp of good credit that just so happens to offer rewards. Once your credit is in better shape however, you’re better off applying for a stronger cashback card on the market.

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