Credit One Bank® Platinum Visa® Credit Card Review

Information verified correct on February 22nd, 2017

The Credit One Bank® Platinum Visa® provides a way for people with bad credit to grow or rebuild their score.

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.

Product NameCredit One Bank® Platinum Visa®
APR for Purchases ( Purchase Rate )15.90% - 24.40%
Annual fee$0 to $99 p.a.
Cash Advance Rate18.15% - 25.40%
Card TypeVisa
Returned Payment Fee$35
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Minimum Age18 years of age
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$300
Annual fee$0 to $99 p.a.
Returned Payment Fee$35
Late Payment Fee$37
Cash Advance Fee$5.00/8% or $10.00/3%, whichever is greater (see terms)
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Additional Cardholder Fee$19 annually
Internet Banking TransfersYes

Credit One Bank® Platinum Visa® Credit Card Review

If you are looking to rebuild your credit score, this card may be for you. Apply in less than 60 seconds without harming your credit score. Monthly credit score tracking is included for free, and Credit One Bank® offers flexible payment dates to help you make your payment on time. With the card, you can expect up to a $75 annual fee in the first year, and up to a $99 annual fee each additional year. The minimum credit line is $300, and the purchase APR ranges from 15.90% – 24.40%. Credit One Bank® starts with the pre-approval process. While their website does not have a page that explains each individual available card, the pre-approval process can match you up with a card that you qualify for. The pre-approval process will not affect your credit score.

Benefits of the Credit One Bank® Platinum Visa® Credit Card

  • 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 apply. You can get prequalified in 60 seconds, and it won’t affect your credit score.
  • No application costs. You don’t have to pay out-of-pocket costs to open an account.
  • Cash back. The card lets you earn 1% cash back on eligible gas and grocery purchases.
Rates last updated February 22nd, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Credit One Bank® Platinum Visa®
Good credit not necessary. Rebuild and grow your score with this card.
15.90% - 24.40% p.a. $0 to $99 p.a. Go to site More info
Credit One Bank® Unsecured Platinum Visa® Credit Card
If you need a credit card but don’t have the best credit score, the Credit One Bank Unsecured Platinum Visa Credit Card could be a helpful solution.
15.90% - 24.40% p.a. $0 - $99 p.a. Go to site More info

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Features

  • Credit line. Credit One Bank® monitors each account for credit line opportunities, and will notify you when you qualify for additional credit.
  • Purchase APR. APR is based on the Prime Rate, and varies with the market. Depending on your credit score, you can expect a purchase APR of 15.90% to 15.90% - 24.40%. The Prime Rate is 3.50%.
  • Cash advance APR. Cash advances have a higher APR of 18.15% – 25.40%.
  • Chip technology. For added protection, all cards are installed with microchip technology.
  • Apple Pay. Credit One Bank® makes it possible to set your credit card up with Apple Pay, so you can pay with your iPhone or iPad.
  • Account alerts. Get text or email alerts so you know when your payment is due.
  • Fraud protection. The Zero Fraud Liability feature protects you against any unauthorized charges or purchases.
  • Annual fee. In the first year of activation, customers can expect up to a $75 annual fee. For following years, customers can expect up to a $99 fee. Credit One Bank® can split up the fee into 12 equal monthly payments for some accounts.
  • Credit limit. Your minimum credit limit will be $300 when approved.
  • Transaction fees. Transaction fees depend on the account. For cash advances, you can expect a $5 fee, or 8% of the cash advance account, whichever is greater. Or, you may have to pay $10, or 3% of each cash advance amount, whichever is greater.
  • Annual membership fee. Cardholders can add an authorized card user over 15 years of age, and will pay an annual fee of per authorized user.
  • Penalty fees. Returned payments can result in up to a $35 fee, and each late payment can result in up to a $37 fee.
  • Grace period. Not all accounts will qualify for a grace period. For accounts with no grace period, interest starts accruing right after every purchase is made.

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

Eligibility criteria:

  • US citizen
  • At least 18 years old

Required documents & information:

  • Full name
  • Residential address
  • Birthdate
  • Phone number
  • Social security number
  • Income information
  • Email address

If you are looking for a way to rebuild your credit score, the Credit One Bank® Platinum Visa® Credit Card could be be a helpful solution. Before choosing the Credit One Bank® Platinum Visa® Credit Card, be sure to compare it with other credit card options.

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