You can use a Credit One Visa credit card at nearly 11 million merchants nationwide, and you can use it abroad in more than 200 countries and territories. Your card will also come with various types of benefits, depending on whether it's a traditional Visa, Visa Signature or Visa Infinite card.
Ultimately, there are a few differences between Visa and Mastercard credit cards, but they are relatively small. The two card networks have a lot in common, including extensive worldwide acceptance. As a result, it's more worthwhile to compare individual credit card offers than to focus on getting a card from a particular network.
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.… read full answer
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.
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.
Yes. Credit One Bank is a legitimate bank that has been issuing unsecured credit cards for people with limited credit and bad credit since 1984. Credit One Bank has an A- rating from the Better Business Bureau and is considered to be a major credit card company by the market research firm J.D. Power.… read full answer
Some people question whether Credit One is real because it has no physical branch locations, operating online only. Another major reason people might think Credit One Bank might not be a legitimate company is that its name and logo are quite similar to Capital One’s. Both companies are real (and they’re not related). Capital One is just bigger, more well-known and has more credit cards to choose from. And Credit One does not offer financial products aside from credit cards.
Proof That Credit One Bank Is Legit
Credit One Bank is a legitimate company, founded in 1984.
10+ million people have a Credit One Bank credit card.
Credit One Bank has been accredited by the Better Business Bureau (BBB) since 2011.
Credit One has an A- BBB rating, though the BBB notes a pattern of customer complaints about billing and credit-reporting issues made against the company.
Credit One Bank has paid more than $100 million in cash back rewards to cardholders to date. The company also gave $7.5 million to charity in 2019.
Credit One Bank is among the major credit card issuers included in J.D. Power’s annual U.S. Credit Card Satisfaction Survey. Credit One does rank at the bottom among national issuers, though.
Credit One is a completely separate company from Capital One, even though their logos look similar. And Credit One actually had its logo first.
Credit One is legit. But a Credit One credit card may or may not be the best option for you. Your choices are the Credit One Bank® Platinum Visa®, the Credit One Bank® Platinum X5 Visa® and the Credit One Bank® Platinum Visa® for Rebuilding Credit. The first two are among the best unsecured credit cards available to people with poor credit. But using a secured card tends to be the least expensive way to build or rebuild credit history. Some good options are the Discover it® Secured Credit Card and the Capital One Platinum Secured Credit Card.
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