When you compare Credit One vs. Capital One, you quickly understand just how different they are. Their similar names and logos lead many people to believe that Credit One is the same as Capital One, especially since both are financial companies that issue credit cards to consumers. But that’s pretty much where the similarities end.
Capital One is one of the largest and most diversified banks in America. They offer a wide range of financial products other than credit cards, including auto loans, checking accounts and savings accounts. Credit One is a relatively small bank that only issues credit cards and doesn’t have deposit accounts.
As credit card issuers, Credit One is the same as Capital One in the sense that it offers cards to people with damaged credit. But Capital One has cards for people of all credit levels, including those you need fair, good or excellent credit to get. Capital One also issues student credit cards and business credit cards, while Credit One does not.
Below, you can find a detailed look at the similarities and differences between these two companies and what they offer to consumers.
Credit One vs. Capital One Compared:
- Branches: Capital One has 755 branches in 8 states (Connecticut, Delaware, Louisiana, Maryland, New Jersey, New York, Texas and Virginia, plus Washington, D.C.). You can only do business with Credit One online.
- Types of products offered: Capital One offers a much wider range of products, with credit cards, auto loans, mortgages, checking accounts, savings accounts, and money market accounts. Credit One offers credit cards only.
- Card networks: Capital One has some credit cards on both the Mastercard and Visa networks. Credit One’s cards are all on the Visa network.
- Terms and conditions: All of Capital One’s credit card terms and conditions can be found online. Credit One only posts “sample” terms, and will give you the actual ones after you’re pre approved for a card.
- Minimum score requirement: There are Capital One credit cards for excellent, good, fair/limited or even bad credit. Credit One only makes cards meant for limited/fair or bad credit.
- Credit card for rebuilding credit: The Capital One Platinum Secured card charges no annual fee. It gives you a guaranteed $200 credit line with a $49, $99 or $200 deposit. The Credit One Bank Platinum Visa for Rebuilding Credit gives 1% cash back on select purchases but charges a $39 annual fee.
- Starter credit card: Capital One QuicksilverOne offers 1.5% cash back to the Credit One Platinum Visa’s 1%. QuicksilverOne’s annual fee is $39 and Credit One Platinum’s is $0-$99 depending on your creditworthiness.
- Cash back credit card: Capital One Quicksilver gives 1.5% cash back on all purchases and a $150 bonus when you spend $500 in the first 3 months. That definitely beats Credit One Platinum’s 1% on all purchases. And Quicksilver has no annual fee compared to Platinum’s $0-$99.
- Travel rewards credit card: Capital One Venture gives a huge bonus of 50,000 miles when you spend $3,000 in the first 3 months. It gives 2 miles per $1 on all purchases and has a $95 annual fee. Credit One Bank has no travel card.
- 0% APR credit card: Capital One Quicksilver offers 0% for 15 months on both purchases and balance transfers (3% transfer fee). None of Credit One’s cards have 0% intro APRs.
- Student credit card: Journey Student Rewards from Capital One offers 1% cash back on all purchases and 1.25% if you pay on time. It has no annual fee. Credit One lacks a student card.
- Small business credit card: Capital One Spark Cash for Business gives 2% cash back on all purchases. It also has a $500 bonus when you spend $4,500 in the first 3 months. There’s a $95 annual fee which is waived the first year. Credit One has no business credit cards.
Both Capital One and Credit One allow you to prequalify for their credit cards. Pre-approval generates a soft inquiry on your credit report and does not impact your credit score. This also provides you an opportunity to compare offers between the two issuers and determine which is a better fit for you based on your creditworthiness.