Review of the Credit One Bank® Cash Back Rewards Card and Platinum Visa® Cash Back Rewards Credit Card

Brendan Harkness

Brendan Harkness | Reviews

Feb 12, 2016 | Updated Sep 14, 2016

If your questions are not answered by this post, use the ASK button in the top right to tell us what’s missing!

Although Credit Card Insider does receive compensation from some card issuers as advertisers, this does not in any way influence our overall judgement of a card. Credit One has not endorsed this content in any way.

Learn more about how we rate credit and charge cards.

Credit One Bank offers credit cards that are designed for people with fair or bad credit. If your credit is less than good (FICO® Score less than 700 or so) you won’t be able to get the most rewarding cards with the best terms.

Cards like these are easier to get, but they also come with more fees and higher interest rates. If you take the time to understand the terms before applying and commit to using the card responsibly, it can be a good option if you want to earn some rewards while building up your credit, but you don’t want to get a secured credit card.

Let’s take a look at two cards from Credit One Bank:

These cards also provide some cash back for certain purchases you make. Most secured cards don’t offer rewards, so if you’re working on building up your credit this is a nice bonus.

Credit One Bank® Cash Back Rewards
Apply Now

Credit One Bank® Cash Back Rewards

For People with
Bad Credit

  • Annual Fee: $0 - $99
  • Interest Rate: 15.65% - 24.15% Variable
Quick Card Facts
  • See if you Pre-Qualify without harming your credit score.
  • This is a fully functional, unsecured credit card - not a debit, prepaid, or secured card. No need to load funds or tie up cash in deposits. There are no out-of-pocket costs to open your account.
  • All the bonus features you want in a credit card are included. Get 1% cash back on gas and grocery purchases (terms apply). Track your progress over time with free online monthly credit score tracking
  • And, you could receive credit line increase opportunities.
Credit One® Platinum Visa® Cash Back Rewards Credit Card
Apply Now

Credit One® Platinum Visa® Cash Back Rewards Credit Card

For People with
Fair Credit

  • Annual Fee: $0 - $99
  • Interest Rate: 15.65% - 24.15% Variable
Quick Card Facts
  • 1% cash back on gas & groceries, terms apply
  • See if you Pre-Qualify without harming your credit score
  • This is a fully unsecured credit card with no deposit requirement
  • Flexible payment date to assist you in making your payments on time
  • Automatic reviews for credit line increase opportunities

The Rewards

Both of these cards come with the same reward offer. When you apply for a card and are approved, you’ll be given one of the following cash back reward programs:

Either:

  • 1% cash back on purchases of gas and groceries OR
  • 1.1% cash back on dining purchases and 1% cash back on all other purchases

So you’ll wind up with either one of these programs. The reward program you get will depend on your creditworthiness.

The Benefits

Both of these cards come with the same set of extra benefits. Check your card’s Guide to Benefits to learn the exact benefits you have, and how to access them.

Perks

  • Free Credit Score

    Check your credit score online for free.

  • Credit Protection Program

    This optional program can suspend your minimum payments and limit access to your account if certain events happen to you. There is a $0.96 fee per $100.

  • Add An Authorized User

    Adding an authorized user will incur an annual fee of $19.

  • Pick a Card Design

    There are many to choose from, though some designs will require a fee.

Account Management

  • Account Alerts

    Get notifications about your account by email or text message.

  • Pick A Due Date

    You can call customer service to choose a new due date.

Security

  • Fraud Protection

    You won’t be held liable for fraudulent or unauthorized transactions.

The Costs & Fees

The potential costs and fees for these cards are the same.

The interest rates and fees you get will be based on your credit history and financial status. Check your card’s terms and conditions to learn the exact details for your account.

Annual Fee Regular APR Regular Balance Transfer APR Cash Advance APR
$0 - $99 15.65% - 24.15% Variable See Terms See Terms
Balance Transfer Fee Cash Advance Fee Foreign Transaction Fee
See Terms See Terms See Terms
Penalty APR Late Fee Returned Payment Fee
See Terms See Terms See Terms

Take Note: For most credit cards, when you make a purchase you’ll have quite a while before you need to start paying for it. Usually you’ll be able to wait until the statement period is over, and then you’ll have a due date around 25 days later. This gap between the original payment and the due date is called the grace period.

These Credit One cards may not come with a grace period, however. Depending on your credit when you’re approved for the card, your interest rate may not include a grace period. If you don’t get a grace period, interest will start accruing from the date of the purchase.

If you don’t have a grace period on your account, be sure to pay off your balance ASAP so you will be charged as little interest as possible. And, if you have an annual fee, keep in mind that it will be charged to your card as soon as you open the account. This means that it will start accruing interest immediately, so you’ll want to pay it off quickly.

You may also find other fees associated with your card that we don’t list here. These could be charges for express payment or adding authorized users.

So, be sure to check your card’s terms and conditions carefully so you know exactly what to expect when using this card. That means knowing your credit limit, your due dates, and when you will be charged interest or fees. This may seem like too much to deal with, but remember that by using this card you’ll be building up your credit and will eventually qualify for some very rewarding cards.

The Bottom Line

The Credit One Bank Cash Back Rewards card and the Credit One Platinum Visa Cash Back Rewards Credit Card can help you build up your credit while providing a small cash back reward on gas and groceries. Some of the card terms may seem unfair, but these are sub-prime credit products that are designed for people with fair to bad credit, who won’t qualify for more rewarding options.

The Credit One Bank Cash Back Rewards card is designed for people with bad credit, while the Credit One Platinum Visa Cash Back Rewards card is meant for people with fair credit. When you apply for either one, you’ll be given a chance to check your pre-qualification status first, without hurting your credit.

As long as you use them responsibly, you’ll improve your credit because these cards reports to all three of the credit bureaus. In time you can qualify for a higher-end rewards credit card.

Just be aware of the fees and restrictions associated with these cards, described above. And, take note that when you apply Credit One will keep your phone number to contact you at any time, and you’ll need to send a written notice to stop this:

While applying for a Credit One card

Want to apply for these cards or learn more? Just click the name below.

Credit One Bank® Cash Back Rewards
Apply Now

Credit One Bank® Cash Back Rewards

For People with
Bad Credit

  • Annual Fee: $0 - $99
  • Interest Rate: 15.65% - 24.15% Variable
Quick Card Facts
  • See if you Pre-Qualify without harming your credit score.
  • This is a fully functional, unsecured credit card - not a debit, prepaid, or secured card. No need to load funds or tie up cash in deposits. There are no out-of-pocket costs to open your account.
  • All the bonus features you want in a credit card are included. Get 1% cash back on gas and grocery purchases (terms apply). Track your progress over time with free online monthly credit score tracking
  • And, you could receive credit line increase opportunities.
Credit One® Platinum Visa® Cash Back Rewards Credit Card
Apply Now

Credit One® Platinum Visa® Cash Back Rewards Credit Card

For People with
Fair Credit

  • Annual Fee: $0 - $99
  • Interest Rate: 15.65% - 24.15% Variable
Quick Card Facts
  • 1% cash back on gas & groceries, terms apply
  • See if you Pre-Qualify without harming your credit score
  • This is a fully unsecured credit card with no deposit requirement
  • Flexible payment date to assist you in making your payments on time
  • Automatic reviews for credit line increase opportunities
If you’d rather have a card designed to help build up your credit but with fewer fees, take a look at secured credit cards.

If you liked this review, share it with a friend! Do you have either one of these credit cards? How do you like it? Leave your own review of the Credit One Bank Cash Back Rewards card or the Credit One Platinum Visa Cash Back Rewards Credit Card, we’d love to hear from you!

Was this helpful?

The Insider

John Ganotis
Two free rides from 11 US airports from Uber and American Express
John Ganotis | Nov 16, 2016

Read More
Brendan Harkness
Review of the Best Western® Rewards MasterCard®
Brendan Harkness | Oct 21, 2016

The Best Western Rewards MasterCard provides 13 points for every dollar you spend with Best Western, along with a variety of extra perks and benefits.

Read More
Brendan Harkness
Review of the Upromise® World MasterCard®
Brendan Harkness | Sep 28, 2016

The Upromise World MasterCard offers up to 10% cash back at select retailers, and you can redeem your rewards directly to your college fund or student loan.

Read More

Trusted Credit Information

Putting People First, Always.

We are advocates of the responsible use of credit, building and managing your credit history, and making informed decisions when selecting a credit card.