Founded in 1984 and headquartered in Paradise, Nevada, Credit One Bank is a financial services company that specializes in working with consumers looking to establish and rebuild credit.

The Good

  • Rewards Programs
  • Free Credit Score Tracking
  • Fraud Safeguards

Rewards Programs

Credit One Bank offers some favorable rewards to its cardholders, including 1 percent cash back on eligible gas, groceries, mobile phone services, internet services, and cable and satellite TV services. The company also offers 1.1 percent cash back on eligible dining purchases. Rewards post automatically to the customer’s Credit One Bank account each month.

Free Credit Score Tracking

Credit One Bank provides its customers with free credit score tracking to help them stay on top of their credit. This is a nice feature that not every company in the industry offers.

Fraud Safeguards

Credit One Bank has put safeguards in place to protect its customers from theft and fraud. The company monitors each account for suspicious activity and issues alerts about questionable transactions. Additionally, cardholders are not held responsible for unauthorized charges.

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The Bad

  • APRs
  • Annual Fees
  • Late Payment Penalties
  • Foreign Transaction Fees

APRs

Some credit card companies offer introductory rates of 0 percent for the first several months. Credit One Bank, however, does not offer this feature. Depending on the card, purchase APRs range from 16.15 to 24.65 percent* and cash advance APRs range from 18.15 to 25.99* percent.

Annual Fees

Credit One Bank charges an annual fee ranging from $0 to $99 per year, depending on the card. Several companies in the industry do not charge an annual fee, so this is an expense that could be avoided by choosing to work with another credit card provider.

Late Payment Penalties

For every late payment made by a cardholder, Credit One Bank charges a fee of up to $37.

Foreign Transaction Fees

With Credit One Bank, foreign transactions incur a fee of 3 percent. This is especially inconvenient for frequent travelers.

The Bottom Line

Credit One Bank offers rewards programs, credit score tracking, and fraud safeguards. However, Credit One Bank’s APRs are relatively high and the company charges a number of fees, including annual fees, late payment fees, and foreign transaction fees.

*Disclaimer: Listed interest rates were accurate as of May 2017 but are subject to change. Actual rates may differ from those listed in our review.

Are there any inaccuracies in this review? We take our accuracy very seriously and would love your feedback. Give feedback here.

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1 Credit One Bank Reviews

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  1. User Score

    7

    November 12th, 2016 Bellevue, WA

    They need ap for services payments. Hard to understand when calling in with payments, takes a few days to process payment and 9.95 call in payments rip off!

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