![]() If you're considering Credit One credit cards because you have bad credit, secured credit cards are a great alternative. But for most consumers, there are alternatives, so it's smart to look for cards that charge fewer fees. You can build your credit with a card from Credit One Bank. If your credit score is poor, you can start with our list of expert-reviewed best credit cards for bad credit. There are other credit cards that are easy to get, such as secured credit cards, store credit cards, and student credit cards. Before you apply for one, you should shop around to see what better options may be available. It's unlikely that a Credit One credit card is your only option. Should I apply for a Credit One credit card if it’s my only option? Others require average or excellent credit. Some of its cards are available to consumers with bad credit. However, your credit score will determine the cards and terms you can get. There is no minimum credit score required to get a Credit One credit card. In the second year, the fee might also be charged annually or broken down into 12 monthly payments. The available terms and conditions for some cards are "for information purposes only," which aren't official and provide very broad information.įor example, the Credit One Bank Platinum Visa lists its annual fee as anywhere from $0 to $95 in the first year, and from $0 to $99 after that. Not all cards have terms and conditions upfrontĬredit One Bank also differs from other popular card issuers in only publishing some of its credit cards' terms and conditions online. For cards targeted at people with bad credit, that's a major flaw. Credit One credit cards don't help with that. When you're rebuilding your credit, it's important to minimize the amount you spend on fees. Multiple cardholders have also reported a fee for a credit limit increase. If you want to pay off your balance more quickly, you need to pay $9.95 for an express payment. If you make a free standard payment, it can take up to seven days before that payment is reflected in your available credit. Excessive feesĪ big reason Credit One Bank gets a bad rap is its fees. Based on that, it will show you which cards you prequalify for, as well as their terms and conditions. This involves filling out a form with personal information so that Credit One Bank can run a soft credit check (which doesn't affect your credit). Instead, you first need to go through the prequalification process. Unlike most credit card companies, Credit One Bank doesn't let you decide which of its cards you want to apply for. Unfortunately, Credit One credit cards also have several frustrating drawbacks. No matter which card you have, you'll at least be able to earn cash back on some of your purchases. Cash back rewardsĪll the Credit One credit cards offer cash back rewards. If you're working on your credit, a Credit One credit card could be one of the few you can open. You can get Credit One Bank credit cards with any credit score. To be fair, there are a couple of positives to note about Credit One credit cards. I prioritized paying off these cards and closed them to stop the bleeding from my wallet." Credit One Review But sure enough, raising my limit opened a SECOND credit card with them. When they offered me an extended limit to $1,500, I thought it would be with the same card. I knew it wasn't a great credit card because my limit was only $600, but was still shocked to find that there was a monthly fee and more fees for things like paying your credit card statement. "The biggest surprise for me with Credit One was the fees that kept popping up. ![]() Katrina Niemisto, an SEO Content Strategist at The Ascent, was a cardholder with Credit One Bank and gave a firsthand account of how expensive it can be. Credit One doesn't offer autopay (another basic service with most card issuers), so you'll need to pay your bill manually or get hit with a late fee.That means you'll have a bill to pay every month, even if you aren't using the card. After a year, Credit One may start charging you a monthly fee instead of an annual fee.The annual fees on Credit One cards are much higher than competitor credit cards with similar or better features.Most card issuers offer these basic services free of charge. ![]() Credit One charges fees for credit limit increases and "express payments," meaning payments that post right away.Here are a few examples of the problems with Credit One: However, it charges so many fees that it arguably takes advantage of people who don't have many credit card options. It offers credit cards for consumers with bad credit. ![]() Credit One Bank is a credit card company with a poor reputation because of its fees and lack of basic services.
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