Credit One Bank Rewards Programs Review

Credit One Bank has two credit card rewards programs, Credit One Bank More Cash Back Rewards and Credit One Bank Wander Rewards. These two Credit One Bank rewards programs feature different credit cards, reward currencies, earning rates and redemption options.

Credit One Bank Credit Card Rewards Program Overview

In order to rate the Credit One Bank credit card rewards programs overall, WalletHub's editors evaluated each program individually and then averaged the two scores, with each program weighted equally. Below, you can find more information about how the Credit One Bank credit card rewards programs work, as well as what ratings they receive from WalletHub’s editors.

Information about these rewards programs was collected on June 6, 2022 and is likely to have changed since.

Credit One Bank Rewards Program Scores by Review Category

How to Earn Credit One Bank Rewards

Category Rating: 78% (23/30)

The credit cards in each Credit One Bank rewards program offer different earning rates, though you will receive at least 1% cash back or 1 point per $1 spent on eligible purchases.

Earning Rates by Program

• Credit One Bank Wander Rewards: 1 - 10 points per $1 spent, depending on the card and the purchase category.

• Credit One Bank More Cash Back Rewards: 1 - 5% cash back spent on eligible purchases, depending on the card and the purchase category.

Earning Restrictions:

• Limited bonus cash back: The Credit One Bank® Platinum X5 Visa® in the Credit One Bank More Cash Back Rewards program lets you earn bonus cash back on $5,000 in purchases in its bonus categories each year. After reaching the limit, you will still get 1% cash back in those categories.

Credit One Bank Wander Rewards has no notable earning restrictions. You can learn more by checking out WalletHub’s individual reviews of the rewards programs.

How to Redeem Credit One Bank Rewards

Category Rating: 58% (12/20)

The best way to redeem Credit One Bank rewards is for travel with Credit One Bank Wander Rewards, as that option gives you the greatest value for your points. For Credit One Bank More Cash Back Rewards, the only redemption option is cash back. Below, you can see all the redemption options for each program.

Cash Back

Both Credit One Bank More Cash Back Rewards and Credit One Bank Wander Rewards allow you to redeem rewards for cash back. In both cases, the only way to redeem for cash back is as a statement credit.

Travel

The Credit One Bank Wander Rewards program lets you redeem points for travel purchases like airfare, hotel stays, car rentals and cruises. You can book travel through Credit One Bank’s booking tool in your online account.

Gift Cards

With Credit One Bank Wander Rewards, you can use your points to get gift cards from various popular retailers.

Merchandise

With Credit One Bank Wander Rewards, you can use your points to purchase various items online.

Redemption Restrictions:

• Cash back program is limited: Credit One Bank More Cash Back Rewards only allows you to redeem for cash back.

• Minimum redemption amount: Credit One Bank Wander Rewards requires you to redeem in increments of 1,000 points when redeeming for cash back.

• No transfer partners: Neither program offers the ability to transfer rewards to any hotel or airline loyalty programs.

Credit One Rewards Value

Category Rating: 40% (12/30)

• Cash Rewards: $1 in rewards = $1 USD
• Points Rewards: 1 cent per point

Both programs offer same rewards value for every dollar you spend. However, the best rewards program for you depends on your individual spending habits and what you want to redeem your rewards for.

Credit One Bank Rewards Eligibility & Transparency

Category Rating: 88% (18/20)

Each Credit One Bank credit card rewards program has different cards that participate. Below, you can see your options.

Participating Cards by Credit One Bank Rewards Program

Miscellaneous Details

There are a few other key things that you should know about each of the Credit One Bank credit card rewards programs. You can find highlights below. For the full details, check out WalletHub’s individual reviews of the programs.

Key Things to Know About Credit One Bank More Cash Back Rewards

• As long as your account is open and in good standing, your cash back never expires.

• You can opt for a card that offers bonus cash back in certain spending categories, or flat cash back on all eligible purchases.

• Cash back is the only redemption option.

Key Things to Know About Credit One Bank Wander Rewards

• As long as your account is open and in good standing, your points never expire.

• There are only two credit cards available.

• The program offers multiple redemption options.

Credit One Bank Rewards Programs vs. Other Popular Options

Summary: Credit One Bank Rewards Program Ratings by Category

Methodology

This review of the Credit One Bank credit card rewards programs is a compilation of data from WalletHub’s individual reviews of each program. These individual reviews are based on the same methodology as WalletHub’s annual study on the Best Credit Card Rewards Programs.

Editor’s ratings reflect the sum of each program’s scores across the study’s four major categories, adjusted to a 5-point scale to create a representative distribution of ratings. The four major categories considered were: Earning Policies, Redemption Policies, Rewards Value per $1 Spent and Eligibility & Transparency.