Credit One Credit Card Review: Rewards for Bad Credit

You can qualify for Credit One Visa pre-approval if the issuer decides you're a good fit and sends you a pre-approved letter.

You could also check if you pre-qualify online, but remember that neither pre-approved offers, nor pre-qualifying will guarantee your approval.

To actually get this card, you must apply for it, and that will inevitably result in a hard pull on your credit report. This could negatively affect your credit score, but only for a short period of time.

The Credit One Visa is available to people with bad credit. That means people with credit scores below 640 may have a shot at getting approved for this card.

You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Credit One Visa Card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status and housing status.

The starting Credit One credit card limit is at least $300 to $500. Credit One credit card applicants with the highest credit scores and the most income have the best chance of getting the highest starting credit limits.

Minimum Starting Limits for Popular Credit One Cards

• Credit One Bank® Platinum Visa® for Rebuilding Credit: $300
• Credit One Bank® Platinum Visa®: $300
• Credit One Bank American Express® Card: $300
• Credit One Bank® Platinum X5 Visa®: $500

Credit One usually lists only the minimum credit limit for its credit cards, if they give any indication of what the credit limit will be in the first place. So, it's possible to receive a much higher credit limit than you might find in the card terms. Applicants with high incomes and excellent credit will generally get the highest Credit One credit limits.

You can add a Credit One Visa card authorized user while completing your application for a new account. If you're already a cardholder, you'll be able to add an authorized user by signing in to your online banking account. Just keep in mind that you're the one responsible for your authorized user's purchases.

Most Credit One credit cards are on the Visa network. Credit One does not have any Mastercard credit cards, though it does also have cards on the American Express network

Popular Credit One Credit Cards by Network

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.

Yes, Credit One Bank is a legit bank that has been issuing unsecured credit cards for people with limited credit and bad credit since 1984. Credit One Bank has a B+ rating from the Better Business Bureau and is considered to be a major credit card company by the market research firm J.D. Power.

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.

Here's why Credit One Bank is legit:

• Credit One Bank is a legitimate company, founded in 1984.
• About 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 a B+ BBB rating. 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 $128 million in cash back rewards to cardholders to date. The company also gave $2.5 million to charity in 2021.
• 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.
• You can learn about Credit One on their official, secure website.

Credit One is legit. Whether a Credit One credit card is the best option for you depends on your unique financial needs. For example, the Credit One Bank® Platinum Visa® for Rebuilding Credit is considered one of the best unsecured credit cards for bad credit on the market.

Here are some of the best Credit One credit cards:

You can also check our editors' latest picks for the best Credit One credit cards on the market to weigh your options.

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 for people of various credit levels, from bad to good credit or better. 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.

How Annual Fees Affect Your Credit One Credit Card Limit

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. Most Credit One credit cards charge an annual fee. If your card has an annual fee, it will be automatically applied against your credit line.    

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.

The credit score you need for a Credit One credit card is at least 300-700, depending on the card. Credit One credit cards are available to applicants with credit scores ranging from bad to good or better.

So, it's possible to be approved despite having a damaged credit score or limited credit history. Also, if your credit score is below the threshold needed for a credit card from Credit One, it's best to wait and apply after you meet the credit score requirement. You can check your credit score for free on WalletHub.

Credit One Credit Score Requirements by Card

• Credit One Bank® Platinum Visa® for Rebuilding Credit: 300 (Bad credit)
• Credit One Bank® Secured Card: 300 (Bad credit)
• Credit One Bank® Platinum Visa®: 640 (Fair credit)
• Credit One Bank® Platinum X5 Visa®: 640 (Fair credit)
• Credit One Bank American Express® Card: 640 (Fair credit)
• Credit One Bank Platinum Rewards Visa with No Annual Fee: 700 (Good credit)
• Credit One Bank Wander Card: 700 (Good credit)

You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for a Credit One credit card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status and housing status.

Credit One might automatically increase your credit limit after six months, or you can request a Credit One credit line increase online or by calling (877) 825-3242. For the best odds, pay your bill on time for at least six straight months, reduce your outstanding debt, and update the income Credit One has on file.

How to Get a Credit One Credit Limit Increase Online

1. Log in to your online account.
2. Choose the Credit One card for which you're requesting the increase (if you have more than one card).
3. Click "Settings," and then "Credit Line Increase."
4. Enter your required information and click "Continue".
5. Confirm the information and click "Submit" to complete the request.
6. You should receive a decision in just a few seconds. If you're approved for a Credit One credit limit increase, the new limit will be effective immediately.

When you request or get an automatic Credit One credit limit increase, Credit One will conduct a soft pull of your credit report, which does not affect your credit score.

The Credit One Platinum credit limit is $300 or more. Everyone who gets approved for Credit One Platinum is guaranteed a credit limit of at least $300, and particularly creditworthy applicants could get limits a lot higher than that. Plus, the higher an applicant's credit score and income are, the higher the starting credit limit is likely to be.

Keep in mind that you can ask to get a credit limit increase by calling the Credit One Bank customer service number you see on the back of your card, but it's best not to do that more than once a year. Credit One Bank will also evaluate your account periodically to determine whether you are eligible for a credit limit increase. Paying on time and keeping your credit utilization low are key for getting unsolicited credit line increases with Credit One Bank.