The Credit One Bank® Platinum Visa® credit score requirement is 640 or better. That means people with fair credit or better have a shot at getting approved for the Credit One Platinum Card.
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Credit One Platinum Card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status and housing status.
If you excel in other areas, you might be able to get approved with a slightly lower credit score in some cases. But it’s best to wait to apply until you meet the Credit One Platinum credit score requirement. You can check your credit score for free on WalletHub.
The maximum credit line for a Credit One credit card is not publicly disclosed by the issuer. If approved for a Credit One card, applicants can expect a minimum credit line of $300 to $500 initially, depending on the card and their credit standing.
Credit One cards are designed primarily for people with bad credit (score of 639 or less) or no credit. The lower your credit score is, the lower your Credit One account’s maximum spending amount is likely to be. Credit One may periodically review your account for an automatic credit line increase. This usually occurs after you’ve had the card for at least 6 months. Credit One doesn’t release specific criteria for granting automatic increases.… read full answer
It’s important to know that if you’re approved, the amount of your credit line that’s available for spending may be reduced before you even use the card. Credit One charges an annual fee of $0 - $95 for the first year (up to $99 after). If there is an annual fee, it will be automatically applied against your credit line. So, if your initial credit line is $300, you could start out with as little as $205.
If Credit One’s maximum credit lines aren’t enough to meet your needs, focus on rebuilding your credit to the point where you can apply for a card with the potential for a higher credit line and lower fees.
You can request a Credit One credit limit increase online or by calling customer service at (877) 825-3242. To raise your chances of being approved for a higher credit limit, pay your bill on time for at least six straight months, reduce your outstanding debt, and update the income Credit One has on file. Credit One will be more likely to increase your credit limit if the revised income clearly shows that you can afford a higher limit.… read full answer
How to Get a Credit One Credit Limit Increase Online
Choose the Credit One card for which you're requesting the increase (if you have more than one card).
Click "Settings," and then "Credit Line Increase."
Enter your required information and click "Continue".
Confirm the information and click "Submit" to complete the request.
You should receive a decision in just a few seconds. If you're approved for a Credit One credit limit increase, the new limit will be effective immediately.
Impact of a Credit One Credit Limit Increase on Your Credit Score
When you request a Credit One credit limit increase, Credit One will conduct a hard pull of your credit report, which will cause a short-term dip in your credit score. Credit One cannot do a hard pull without your permission, though.
On the other hand, there are times when you could be eligible for a Credit One credit limit increase without even requesting one. Credit One may offer an automatic credit limit increase if its regular reviews of your account show a history of on-time payments and low debt. An automatic credit limit increase involves a soft pull, which does not affect your credit score.
Having one of these Credit One credit cards may increase your chances of landing a higher-tier credit card in the future, if you use it responsibly. That means paying your bill on time every month and keeping your credit utilization below 30% of your credit limit.
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