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Credit One Bank® Platinum Visa® for Rebuilding Credit

8,109 User Reviews (8,109)
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minimum credit needed Bad

Minimum Credit Score Needed

Bad

Editor’s Take

Review: Credit One Bank® Platinum Visa® for Rebuilding Credit

The Credit One Bank® Platinum Visa® for Rebuilding Credit is one of the best options for a very particular type of person: someone with bad credit who needs what amounts to an emergency loan. If, for example, you need credit to cover the cost of vehicle repairs or unexpected medical expenses that you can’t afford in cash, then paying up to $95 in first-year fees for a $300 initial credit line might actually be the most attractive offer you’re going to get. The ability to earn cash back rewards sure doesn’t hurt, either.

With that being said, if you don’t absolutely need emergency spending power, you’re better off placing a refundable deposit on a secured credit card. You’ll get the money back when you close your account, assuming you’ve paid your bill in full, and you should be able to find an offer with no annual fee. Plus, secured cards are just as good for credit building as unsecured cards.
  • Good way to get an emergency loan with bad credit. Getting an unsecured credit line can be quite expensive when you have bad credit. But that’s less true for the Credit One Visa. There’s no one-time fee for application processing and no monthly fee. And your first-year annual fee will be at most $95 (up to $99 every subsequent year), depending on your creditworthiness. Given that new cardholders begin with a $300 credit line, you’ll essentially be paying as much as $95 for as little as $205 in immediate spending power with the Credit One Bank Card. After all, the first annual fee is assessed when you open your account, thereby reducing the spending power at your disposal.
  • Secured credit cards are much cheaper. If you don’t absolutely need an emergency loan or $205 to $300 in spending power isn’t enough for your needs, you’re better off focusing on improving your credit at the lowest possible cost. That means getting a secured card instead of an unsecured offer such as the Credit One Card. Secured credit cards require a refundable security deposit, the amount of which acts as your spending limit. This reduces both your costs and the issuer’s risk. There are a number of secured cards with no annual fee, and opening one will help you improve your credit score to the point where you can qualify for a decent unsecured card.
  • The APR varies widely based on creditworthiness. Your rate could be well above 20% with the Credit One Bank Credit Card, especially if you have damaged credit. But if you have damaged credit, you’ll probably be assigned a rate toward the high end of the range. As a result, you should try to pay for your charges as quickly as possible. WalletHub’s credit card payoff calculator will help you make the best plan for your situation.
  • Credit-line increases aren’t guaranteed. Credit One Bank says it will consider cardholders for higher credit limits based on their “overall credit performance.” They don’t elaborate about what you need to do or when you can expect a higher limit. Most cards require at least five consecutive months of on-time payments before considering an increase, but you still shouldn’t get your hopes up.
  • Rewards aren’t that helpful. The roughly 1% cash back that you will earn on eligible purchases pales in comparison to the rate at which you’ll have to pay interest. And if you really want rewards, you can do better with a secured card.
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Credit One Bank® Platinum Visa® for Rebuilding Credit's Rewards

  • Receive 1% cash back rewards on eligible purchases, terms apply

Credit One Bank® Platinum Visa® for Rebuilding Credit's Key APRs & Fees

  • ONE-TIME FEES None
  • ANNUAL FEE $0 - $99
  • MONTHLY FEE None
  • REGULAR RATE 19.74% - 25.74% (V)
  • GRACE PERIOD 0 or 24 Days (see terms)

Credit One Bank® Platinum Visa® for Rebuilding Credit's Highlights

  • See if you Pre-Qualify without harming your credit score
  • Track your progress with free online access to your Experian credit score, terms apply
  • Looking to rebuild credit? We report to the major credit bureaus monthly
  • Accounts are automatically reviewed for credit line increase opportunities
  • Make paying your bill easier with the ability to choose your payment due date, terms apply
  • Stay in-the-know with customizable account alerts via email and text
  • Enjoy peace of mind with $0 Fraud Liability

Credit One Bank® Platinum Visa® for Rebuilding Credit's Additional Info

  • MAX LATE FEE $39
  • MAX OVERLIMIT FEE None
  • MAX PENALTY APR None
  • FOREIGN TRANSACTION
    FEE
    3% or $1, whichever is greater
  • SMART CHIP Yes, chip-and-signature
  • CASH ADVANCE APR 25.74% (V)
  • CASH ADVANCE FEE $5/8% or $10/3%, whichever is greater (see terms)
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at Credit One Bank's secure site

Editor's Pick

Credit One Bank® Platinum Visa® for Rebuilding Credit is an Editor's Pick for:

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Customer Questions and Answers

Don't see what you're looking for? Submit your question about Credit One Bank® Platinum Visa® for Rebuilding Credit to our community.

140

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Where is the card sent from? Reply 1815

Photo of WalletHub
@WalletHub

Credit One Bank cards are shipped from Omaha, Nebraska. Please let us know if you have any other questions!

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18 Upvotes

How much money could I take out at an ATM? Reply 1815

Photo of WalletHub
@WalletHub

Your cash advance limit should be listed on your statement or in the materials mailed along with your card. Credit One’s customer service department should also be able to tell you, and they can be reached at: 877-825-3242. However, please make sure to note that cash advances are quite costly. You can learn more about cash advances here: http://wallethub.com/edu/credit-card-cash-advance/25829/ Please let us know if you have any other questions!

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18 Upvotes

How many payments can I make a month? I thought I read somewhere that you can only make 3 payments a month? Reply 1713

Photo of WalletHub
@WalletHub

You can make up to 4 electronic (internet) payments within 1 billing cycle. For security reasons, Credit One Bank has procedures in place to restrict the number of electronic payments that may be made within a rolling 30-day time period. You can also send a check, pay by MoneyGram or Western Union money order, or use Express Payments (for a fee of $9.95) to pay over the phone. There are no restrictions on the number of payments you can make using those methods. Hope this helps!

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17 Upvotes

Which bureaus do you report to and how often? Reply 1716

Photo of WalletHub
@WalletHub

This card reports to the three major credit bureaus (TransUnion, Experian and Equifax) on a monthly basis, which means it will help you build credit if used responsibly. WalletHub also has a new tool that could help in that effort. It provides free credit reports and scores, updated daily, as well as free 24/7 credit monitoring. You can try it here: https://wallethub.com/join/ .

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17 Upvotes

How can I check my transactions? Reply 1514

Photo of WalletHub
@WalletHub

They will be listed on your monthly statement, and you can also check both recent and pending transactions online at: https://www.creditonebank.com/ . Hope this helps!

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15 Upvotes

I got approved online. How do I check to see about my card? Reply 1515

Photo of WalletHub
@WalletHub

Information about your account should have been emailed to you following approval. You can also call Credit One’s customer service department -- 877-825-3242 -- to check the status of your card. Please let us know if you have any trouble.

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15 Upvotes

Can I transfer balances from other accounts? Reply 149

Photo of WalletHub
@WalletHub

Unfortunately not. Like nearly all other credit cards for people with bad credit, this card does not accept balance transfers. And even if a given card was to allow such transactions, it would be unlikely to offer either a credit limit high enough or an interest rate low enough to make it worthwhile. With that being said, there are a number of different debt repayment strategies that could help you pay off what you owe without switching plastic: http://wallethub.com/edu/debt-solutions-overview/25540/ & http://wallethub.com/edu/best-way-to-pay-off-debt/24477/ .

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14 Upvotes

Is this like some other cards where if I pay my entire balance each month I don't get charged any interest? Reply 139

Photo of WalletHub
@WalletHub

Yes, if you pay your balance in full by the due date and do not carry any balance from one month to another, no interest or other finance charges will accrue. We actually have two great articles on this topic that should help explain things: http://wallethub.com/edu/paying-credit-card-bills/25558/ http://wallethub.com/edu/how-credit-card-interest-works/25789/ Please let us know if you have any other questions. Best of luck!

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13 Upvotes

I have a bill but no card ever came. What can I do? Reply 129

Photo of WalletHub
@WalletHub

For starters, carefully review the bill to see if any charges were made and call customer service at 877-825-3242 to report the issue. You should also double-check your account’s contact info, as it’s possible that a fraudster changed the address to reroute your card. Or it was swiped from your mailbox. No matter the cause, you won’t be held responsible for any charges because all credit cards provide $0 liability guarantees for unauthorized transactions. But since this issue could be indicative of a vulnerability that allows more fraud in the future, you would also be wise to sign up for a free credit monitoring service, such as WalletHub’s: https://wallethub.com/free-credit-monitoring/ . You’ll therefore get an alert anytime an important change is made to your credit report.

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12 Upvotes

How do I close my Credit One Platinum card before the annual fee gets added to the account? Reply 103

Photo of ArchieBunker
@ArchieBunker

To close your Credit One Bank Platinum card, you simply have to call the number on the back of your card and ask for them to close your credit card.

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10 Upvotes
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Credit One Bank® Platinum Visa® for Rebuilding Credit Video Review

Credit One Bank® Platinum Visa® for Rebuilding Credit Reviews

Share your insights and review the Credit One Bank® Platinum Visa® for Rebuilding Credit.

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3.4 out of 5

8,109 reviews
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16%
8%
    Photo of kfoster
    Jan 24, 2019
    These SOBs won't let me freaking cancel my account! And the last guy I talked to named 'Jordan Smith' who you could tell was right out of India wanted my SSN number. Yeah right. I had cancelled the account, supposedly, several months ago. Now I find out it's now active again and they want to charge me 8.95 per month just to have their stinking card. I hate them!!!
    Photo of amyburchell
    Jan 20, 2019
    I really give this company zero stars, unfortunately they don’t allow you too. But this company is a disgrace! They’re horrible crooks. The company literally went into my checking account unauthorized and stole money from me and then denied it and then closed my account to investigate their mistake, which of course lowered my credit score. Not to mention the fees that I got from my bank since they stole money that was for my show more
    Photo of J.F.K.
    Jan 15, 2019
    There's two sides to every story. My story with Credit One was a tale of 2 different years.

    I am grateful that they gave me an opportunity after I was late on 3 credit card payments that hurt my score about a year prior. Those are my fault. I have learned so much about how a life-changing event can change your credit worthiness forever.

    The first year with Credit One bank was great, I was originally show more
    Photo of b_d_christoph
    Jan 12, 2019
    Money can be very... personal. And a I think a lot of the bad reviews reflect very personal situations. There are over 7700 reviews, and the card still has a 3.3 out of 5 rating. People who are unhappy are always the most vocal.

    I got this card in Oct, its an emergency/expense card (typically used to pay for hotel security deposits which remove themselves after a week or so). I make sure to use it show more
    Photo of credit1isascam
    Jan 07, 2019
    STAY AWAY FORM THIS CREDIT CARD!!

    THEY ARE A FRAUDSTER'S FANTASY!!

    Contrary to your best intentions, CREDIT ONE WILL DESTROY YOUR CREDIT!!

    Without going into my back-story, I filed for Chapter 7 back in 2016 and accepted an offer for this card . I understand, based on my status, that I was going to have to pay higher interest and fees, etc in order to rebuild my credit.

    Things were going okay for about a show more
    Photo of tbrdc
    Dec 28, 2018
    NEGATIVE 5 Star (system forces you select a star)

    I signed up with Credit One in order to rebuild my credit after the death of my spouse. This is absolutely the worst credit card company I've ever dealt with. Each and everyone month I try and make a payment, it fails to recognize log in and or passwords every time. Their website has on going issues and is a nightmare. It forces the customer to show more
    Photo of carment_48
    Dec 21, 2018
    I'm not going to give Credit One a bad review because everyone else did. My truth is my credit was struggling like most of the people on here, but they offered me a $400 credit limit. ONE month later I got an email and they upped my limit to $600. I dont call customer service I pay my bill use my card and keep it moving. Its a good card and it worth it if show more
    Photo of shauno321
    Dec 07, 2018
    I've had this card now for around 10 yrs. I had a credit score in the 500s. I've never had any problems with this card. Started with credit line of $300. If you get an offer for credit increase, they do charge you, but if you call, they will usually cut that charge down to about 50%. Always use the standard payment and never had a problem with the payment processing that day. Of course show more
    Photo of jgray766
    08/29/19
    When you say “pay accordingly “ do you mean you paid with your debit card? And was this online? App or phone? Thanks trying to avoid drama at all costs!
    Photo of Sothias
    08/14/19
    Yes, some people do get good increases. My wife started with a $300 limit and it's been about 6 years, and her limit is up to $2000.
    Photo of raywhitman1
    04/12/19
    Bs u must work there. Nobody on here has gotten that kind of increase
    Photo of c_swicord0202
    Dec 06, 2018
    I have been a credit one customer for some time now I make my payments on time and if you pay your payment on the due date two days later you will get phone calls and emails because they want to know where their payment is and part of their problem is they are to fucking lazy to look at the payment that is pending!!!!! then it takes them idiots a week to process your show more
    Photo of jgray766
    08/29/19
    Did you pay with a checking account? That takes 2 weeks to clear
    Photo of markl_116
    01/06/19
    As I stated in another post,they have major issues and so far no fix
    Photo of falonc
    Nov 27, 2018
    Like most people who read the review but decided to have faith and apply anyway, I applied for an account with a credit one on the 12th of November. I was approved for a credit line of $300. The card arrived in the mail within a week (11|19). I wasn’t too thrilled about activating the card until I had time to check out the terms and conditions due to reading such horrible reviews. After getting show more
    Photo of mariona_11
    Nov 22, 2018
    I've had nothing but good things to say about Credit One Bank. Yes, they have higher fees and interests, but they gave me a chance on their unsecured card and gave me credit of $400. I try to pay off my balance each month, and if I can't, I always pay most of it. I've had no problems and was surprised to get an automatic $200 credit increase after having the card for just 5 show more
    Photo of mdillinger00
    Nov 20, 2018
    Horrid Horrid Horrid !!!!
    Omg run ... far and fast! My husband works out of the country I opened his card for him years ago to keep his credit score up he has made a phone call there several times over the years to let them know that I am authorized to pay and use this card… Today I am inquiring about a payment that I sent in there and be aware I’m not trying show more
    Photo of jgray766
    09/25/19
    It takes a week or longer for the standard payment to post especially if you used your checking account
    Photo of mrscfears
    03/23/19
    I dont understand this is a last resort card go get a real bank card
    Photo of junsol757
    Nov 12, 2018
    Get ready for a story because this is going to be a long one. Scroll to the end for the short version.

    I’ve had my account with Credit One for a few years and I didn’t have any problems until earlier this year. Earlier this January, my card had a charge I did not make on it for around $400 USD at Lowe’s. I reported it in as normal, closed out the card, and requested a show more
    Photo of TedinDenver
    Nov 11, 2018
    When I received the card, my credit score DECREASED by 20 points - the card was the ONLY change! Then, for the two months I had the card, I paid FIVE DAYS PRIOR to the due date and they posted four and five days past the due date and my credit was dinged again, both times! As a previous reviewer mentioned, they delay posting payments. STAY AWAY from this card!!
    Photo of jeannine_kennedy65
    Nov 06, 2018
    They are ridiculous only charges on there is their annual fee no grace period on the payment not even 5 days like most companies have. They freeze the card even though they can see the payment is made but they are waiting 5 to 7 days before I can use the card because I don't want to pay them the extra $10,00 fee. When I called and asked if they are blocking the card because show more
    Photo of pc7435
    Oct 23, 2018
    SCAM! SCAM! SCAM! ALERT!
    If you don’t use the credit card and they are not making money out of it this bank charge you fake transactions Their fraud protection is a FRAUD. Don’t do business with them.
    Photo of satch_777
    Oct 14, 2018
    I'm not the type to give ratings on anything but this is freaking ridiculous. I tried to make a payment over the phone but since I wasn't able to provide the routing number to my bank, despite the fact that I had already given them that information previously, they would not allow me to make a payment. I have 7 other credit cards, some of which are American Express, Capitol One, Citbank, and Chase, which show more
    Photo of mrscfears
    03/23/19
    Y fool with this company if u have other better cards weird
    Photo of michaelb_1464
    10/25/18
    You need to make it a habit to have that information in front of you before making the call. The credit card company doesn't keep check ABA/account numbers like that on file. Once they process the check and it clears, the information is purged from the system.

    It's not Credit One's fault for your lack of info.
    Photo of joycel_55
    Oct 14, 2018
    Have both cards. I have had no problem. Pay ahead of payments they have increased my limit within a year on one of them? Was leery at first about applying for theirs but, so glad I did. has helped my credit score. I always pay online never been charged any fee. Most companies now a days are charging for payments over the phone which I think is ridiculous ? Just another way of squeezing more show more
    Photo of missaw1577
    Sep 27, 2018
    I had this card made payments at one time. I had just made a payment in the amount of 400. Then I notice I had a balance of 6.46 I set up a payment. I realized I didn't have money in my bank account to cover the charge so I went to cancel the payment. With this company you can't cancel payments. So I guess the payment got returned the company closed my account of show more
    Photo of jgray766
    09/01/19
    I thought they charged $39 for returned check fee? I’m seeing on here people can’t even close their accounts so this looks odd to me.
    Photo of meganb_136
    10/15/18
    Credit card companies have every right to close your account without notice if they feel you can’t handle your money, it’s a loan, not a freebie. Not their fault you didn’t have the funds to pay your bill.
    Photo of carlinha06
    Sep 18, 2018
    The worst card ever. They would call me at 8 am on s unday on the payment due date. When you pay for the card, it takes forever for the payment to be processed and you are not allowed to use the card for over a week. i tried to make a payment and they cancelled my card without notice. I am happier with my Visa and my masters from my bank, you don't need show more
    Photo of whogai
    Sep 04, 2018
    Worst worst credit card. Is a scam stay away from Credit One Crdit card. Every time u make payment they charge u $9.00 every time u call u get different person and they tell u all different story. After being 1 hour wait ur not getting anywhere. Stay away from it.
    Photo of terrye_18
    10/04/18
    No they do not charge you $9.00 every time you make a payment if you pay it by mail. If you are going go come here and tell stories at least tell the whole story with accurate facts
    Photo of aghenning3
    09/06/18
    Use standard payment and there is no fee.
    Photo of keithe_22
    09/06/18
    LOL that is for the express payment which hits your account same day. Regular payment is 3 business days. Your statement is misleading.
    Photo of kitrinastubbs
    Aug 26, 2018
    I applied for and got a Visa card from credit one. I noticed charges on my card and went to the website where someone entered a change of address and got a second card sent to them. I filed fraud charges and changed the address back to the correct address. They cancelled the card and sent me a new one. It took several months but I got my money back. Fast forward to a few show more
    Photo of terrye_18
    10/04/18
    Sounds like you are trying to scam the company so you do not have to pay the bill. Once maybe, twice, nope. Or you gave information to caffeine or family member and they are scamming both of you
    Photo of aghenning3
    09/06/18
    I agree, sounds fishy....how does it happen twice? Did you change your password after the first time? Or is it someone you know doing it. Surely not the CC companies fault that you don't secure your password and personal info
    Photo of keithe_22
    09/06/18
    Ya this one is fishy, you had to have given someone your account info or personal stuff lol
    Photo of dapplewhite
    Aug 25, 2018
    Sounds like a great opportunity to get my credit score up. I really did not want another card but I am seeing that credit scores and bankruptcy can hurt your insurance, especially homeowners. I am almost ready for discharge and your statements have given me a little hope.
    Photo of keithe_22
    09/06/18
    It an okay card just watch what you spend and pay it off on time
    Photo of robertm173
    Aug 21, 2018
    I have had this card for 8 months. After 3 months they raised my credit limit from $300 to $550.. I have never had a problem with them. I, like many on here, don't like the annual fee but if I would have paid my bills in the past with other creditors I would have better credit to get a better card. I will continue to use them and I am grateful for them taking show more
    Photo of rottenhound2017
    Aug 19, 2018
    This is the most annoying card out there. They make it so hard to make your payments. I have the app and it takes a week to take the money out of my account. On top of that every other time I make a payment it requires “ verification “ another week long process where they make small deposit into my account and I have to confirm with them how much that was. Our use show more
    Photo of aghenning3
    09/06/18
    Are the cards you are using for payment in your name? They could possibly be asking for verification due to a different name or address then what is listed on your account.
    Photo of keithe_22
    09/06/18
    False and its for security reasons..
    Photo of keithe_22
    Aug 19, 2018
    They check your Credit Score and do a hard check about every 6 months they will increase your credit amount without notice if you qualify if you don't it will hurt your score too. They also charge you a fee which is $49 to increase the credit. Also If your Account has a Grace Period, your due date is at least 24 days after the close of each billing cycle and Interest will not be show more
    Photo of richard_mj
    Aug 11, 2018
    When no other financial banking institutions were approving me a credit card due to my history of delinquency of missed payments, closed accounts and credit age, and hard inquiries, Credit One Bank was the third one besides Discover Card and Capital One Bank that honored and approved my credit request for only $300 in 2014. It was unbelievable since it's a CREDIT REBUILDING CREDIT CARD! After 5-6 months of making ON-TIME MONTHLY PAYMENTS to Credit show more
    Photo of b_jentzen2
    Jul 30, 2018
    TERRIBLE! Stay away! DO NOT RUSH IT! This is hands down the WORST card out there. In the process of trying to buy a home, we had to wait over a week for them to fax (because they don't have the foresight to email) a current statement document letter to us. I had to call no less than 4 times because they didn't process the first request. Additionally in order to change my last name show more
    Photo of terrye_18
    10/04/18
    If you had to get a credit one card, you probably do not even qualify for a house as this is a card for BAD Credit in the first place
    Photo of rharbart
    Jul 29, 2018
    Credit one is very customer unfriendly if one person makes payments with multiple card accounts in the house you get locked out and the get charged a monthly fee for phone payments, plus onlne when had access could not schedule payments in advance. VERY POOR CUSTOMER RELATIONS WILL BE CANCELLING ALL CARDS, I WAS A CUSTOMER FOR YRS TILL THIS RECENT INCIDENT!!!!
    Photo of jess198029
    Jul 20, 2018
    I just had a question I rush into getting this card not really understanding what I was suppose to look for the card is in the mail to me I’d like to get out of they are charging me a annual fee 75 the first year then after 8.50 a month I was pnly told about the 75. After reading reviews I am so worried. What can do? Please help