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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
Recommended minimum credit score670

Review by


Steven Dashiell is a writer 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, 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. Click 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

Name Product Welcome offer Rewards Annual fee Filter values
Blue Cash Preferred® Card from American Express
Up to $350: 20% back on Amazon.com purchases in the first 6 months for up to $200 back, plus $150 statement credit after you spend $3,000 in the first 6 months
6% on select US streaming services, 3% on transit and US gas stations, 6% at US supermarkets on up to $6,000 annually, then 1% after that and on all other purchases (redeem as statement credit)
$0 intro annual fee for the first year ($95 thereafter)
Earn up to $350. In your first 6 months, you can earn a $150 statement credit when you spend $3,000, and earn 20% back on Amazon purchases made with your card, up to $200 total. Having 6 months to earn a welcome offer is a rare benefit as most cards give you only 3. Terms apply, see rates & fees
Blue Cash Everyday® Card from American Express
Up to $250: 20% back on Amazon.com purchases in the first 6 months for up to $150 back, plus $100 statement credit after spending $2,000 within the first 6 months
3% at US supermarkets on up to $6,000 per year (then 1%), 2% at US gas stations and select US department stores and 1% on all other purchases (redeem as statement credit)
$0
Earn up to $250. You'll get 20% back on Amazon.com purchases in the first six months for up to $150 back, and $100 after you spend $2,000 in the first six months. This is a higher-than-average welcome offer for a card with no annual fee. Terms apply, see rates & fees
Citi Custom Cash℠ Card
$200 cash back after spending $750 in the first 3 months. Fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back
5% cash back on purchases in your top eligible spend category each billing cycle on up to the first $500 spent, then 1% cash back thereafter and on all other purchases
$0
A new cashback card that automatically awards 5% to your highest eligible spending category each billing cycle, on up to $500 (then 1%).
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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 July 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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