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Designed for rebuilding poor credit, this card may come in handy if you can’t qualify for any other cards, but it is quite underwhelming otherwise. Due to meager customer service, high fees, and lack of transparency — this card should be considered as a last resort.
The Credit One Bank Visa for Rebuilding Credit offers very little in terms of rewards, benefits, and transparency. It should probably only be considered as a last resort.
Your credit limit will range from $300 to $3,000, and your annual fee will reduce your available credit until you pay it. Your annual fee is based on Credit One’s judgement of your creditworthiness, anywhere from $0 - $99.
You’ll earn 1% cash back on gas, groceries, and internet/phone services, but this pales in comparison to most cards which offer 1% cash back, at least, on every purchase.
This card does offer Zero Fraud Liability and it reports to the three major credit bureaus, Equifax, TransUnion, and Experian — so if you use the card responsibly it can help you rebuild your credit, but you may have to jump through some hoops.
To learn more about Credit One Bank and why we recommend alternatives to this card, check out our post: Credit One vs. Capital One: Beware! They Are Very Different