Chip Lupo, Credit Card Writer
@CLoop
The biggest disadvantage of the Credit One Bank® Platinum Visa® is that it has lackluster rewards and a high interest rate, at 29.24% (V). This is due largely to the fact that the card is targeted toward people with fair credit.
Credit One Platinum Disadvantages
- Annual fee: The annual fee is $39.
- High APR: The Credit One Platinum has a relatively high APR, at 29.24% (V).
- Low credit limit: The Credit One Platinum has a relatively low credit limit compared to similar cards.
- No 0% APR on purchases: The Credit One Platinum does not currently offer a 0% APR promotion on purchases, so it is not good for people looking to finance big purchases.
In addition, there are plenty of other disadvantages applicable to all or most credit cards. Some examples are the hard credit pull that usually happens when you apply, interest charged on balances that are carried from month to month, and the potential to overspend.
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People also ask
What is the Credit One Platinum card credit score requirement?
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.
Note that while your credit score is very important, plenty of other things will impact your chances of being approved for the Credit One Platinum. Some other key criteria include your income, existing debt load, recent credit inquiries, number of open accounts, housing status, and employment status.
If you...
read full answer by Lisa Cahill, Credit Cards ModeratorWhat is the Credit One Platinum Visa interest rate?
The Credit One Bank® Platinum Visa® interest rate is 29.24% (V). This Credit One Platinum card interest rate is variable, meaning it can change based on certain economic conditions.
In addition, the Credit One Platinum card has a cash advance APR of 29.24% (V). The Credit One Platinum card doesn't charge a penalty APR for late payments.
You can learn more by reading WalletHub’s guide to credit card interest rates.
read full answer by Evelyn Boros, Credit Cards ModeratorWhat kind of card is the Credit One Platinum Visa Card?
The Credit One Bank® Platinum Visa® card is a rewards credit card for people with fair credit that offers 1% cash back eligible gas, grocery purchases, mobile phone service, internet, cable and satellite TV services. It has an annual fee of $39.
Key Facts About the Credit One Platinum Card
- Type of credit card: Rewards credit card
- Rewards: 1% cash back eligible gas, grocery purchases, mobile phone service, internet, cable and satellite TV services
- APR: 29.24% (V)
- Annual fee: $39
- Credit required: fair credit
- Foreign transaction fee: 3% or $1, whichever is greater
You can learn more about the best rewards credit cards on WalletHub.
read full answer by Chip Lupo, Credit Card WriterDid we answer your question?
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