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Credit One Bank

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Application Process
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2.056 5

Most Helpful Positive Review

Aug 18, 2014
It is what it is
stevez33 Cardholder

I got this card about 16months ago when my fico was about 530, got approved for 300, then 450, then 600 now 750.  Yes they charge u 22.95 for every increase, yes they charge their annual fee in annoying monthly payments of 8.25 probably hoping u miss a payment so they can hit u with the late fee.  My score is now 594 just got approved for cap one quicksilver for 300.  This card is about rebuilding credit ive never dealt with the cust service, i make about 200 a month of purchases and sometimes make multiple payments on purchases.  They do report to all 3 bureaus and it is accurate.  Its helped me get my score up and yes when i hit about 700 ill probably cancel it as i get better cards with lesser fees in the meantime if i asked u would u pay me 99 bucks if i could get your fico score up 50points in a year u probably would if you looking at this review, well thats what this card can do.  All the negative reviews are from stupid people not reading, yes express payments they charge, standard ones are free they take maybe 4 biz days and no your available credit isnt available til after it processes so maybe a week in total.  Everything is in writing people just have to learn to read and they then wont get u with all these hidden charges.

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Most Helpful Negative Review

Mar 18, 2013
Aweful Card - Good Results
Anonymous Cardholder

I (like so many other young adults), screwed up my credit in my early 20's. Thus, when I was ready to rebuild my credit I made sure to read the fine print on the Credit One card agreement. I was fully aware of the $75.00 fee and the unreasonably high APR. My plan was to keep the account in good standing for a year, get better credit lines from more reputable companies, then cancel it.

I oped to open an account and get an additional card for my then fiance. This was pretty stupid because he didn't need it and they charged me an additional $20 for it. Nonetheless, I paid my $95 initial fee in full and continued  to use my card modestly for 12 months. My credit line was $400, I kept the balance below 30% and I ALWAYS paid the balance in full before it was due. In short, I basically micro-managed the account. Within 6 months, I was able to get an American Express card. About 5 months after that, I got a Capital One card. 

Here's what you need to know about Credit One:

* There are absolutely ZERO benefits or rewards points you can acquire. My American Express account already has 30,000 points that I can use for travel, dinners, hotels. etc. The only benefit to Credit One is that they report to the credit agencies which improves your credit score as long as you pay attention and pay on time.

* The initial fees and APR are really high and ridiculous. As a matter of fact, when my annual fees were approaching they tried to charge me another $20.00 for the additional card I had gotten for my fiance (now husband). However, when I called to dispute the charge they reversed it without having to argue with anyone. He never used the card. As a matter of fact, he never even activated it. I just found it annoying that they tried to charge me anyway.

* There is no customer service option when you call. FYI, you have to press 0 or you'll never talk to anyone. I've read a lot of reviews that say the customer service people are rude. I actually found the reps pretty helpful. Sure, they try to get you off the phone ASAP, but I've never had to haggle or argue with anyone. 

* It takes them a few days to post payments. Therefor, I always made a "Standard Payment" which takes a couple of days to process. They have an "Express Payment" option which clears the same day, but I believe they charge for that. I never did it because I felt it was a rip off. Just make sure to pay attention to your payment date. It would have been nice to schedule a payment with a specific payment date instead.

* When I was eligible for a credit line increase, they wanted to charge me $15 if I accepted the offer! Are you freakin kidding me?!

Finally, when I cancelled the card they tried to get me to stay by offering me a "discounted percentage rate of 18% for 6 months". I found this a little insulting because I had been a great customer for a year. When the rep asked me why I was cancelling my account, I told her it was mainly due to the annual fees. It would have been nice if they offered to waive it to keep my business. Either way, I'm glad to have gotten rid on the card!

Bottom line: Its a fairly easy way to rebuild your credit. Pay attention to the fees, use the card conservatively, make your payments on time and cancel it as soon as you qualify for better lines of credit!

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Reviews (464)

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Nov 23, 2015
Anonymous Cardholder

Under know circumstance apply, or get this card. Customer service is terrible. They have ways to scam every penny out of you.

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Nov 22, 2015
Anonymous Cardholder

Do not get it. If you pay your payments online beware. The site can tell you unable to process at this time and still go through. If you call in the same day you can because you thought it did not go through you will get charged twice. If you can even get to a person it is a call center out of the country. They will offer to send a check within 10 business days. This will not help your bank account right away. They will not and do not care if they have overdrawn your account and refuse to pay the overdraft fees. I had to get my bank to go after them. They are awful! I never saw such bad business.

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Nov 21, 2015
KNOW the company and terms
LvLf Cardholder

I have a credit one card and cannot wait to move on... But I've managed my usage well enough to avoid some big problems I hear about. I've seen many people complaining about the $10 fee for expedited payment. I want to touch on that. Also wanted to shed light on this nasty company.

You're dealing with a VERY subprime company. Sherman Financial also runs LVNV, a debt collection agency. Ring a bell to some of us?? So think of it this way... Part of their company helps to destroy your credit, while the other extends credit to you with slimy terms. They're in the money making business on every side of the game. READ the terms fully. Move on to a better company as soon as you can.

You can easily avoid the $10 expedited payment fee by paying well BEFORE the due date. A rebuilder credit line should never be an emergency line, nor is it an extended attachment of your bank account. Include your purchases in your monthly budget. If you're buying a tank of gas, there goes part of your gas budget for the month that you'll have to repay from your primary bank account.. So make sure it's there or move it to a different account or sock drawer if you have to. Don't think of it as freeing up extra money for the month. That's where paying BEFORE the due date will become hard for you, because you'll spend it on something else even if you don't mean to.

Rebuilding should be about getting your financial house in order first so that you can afford the credit you have. Your goal should be to pay well before the due date with any creditor just in case a mistake happens on the processing end. You should use this card to establish positive payments, nothing else. It's not an everyday spend card, nor is it a credit float card.

There are good companies out there. This isn't it. If this is your foot in the door, don't plan to stay long. You run your credit. READ the terms and play a very low risk credit game with them... Only purchase one small grocery item per month or only put your Netflix bill on it if you have to. Choose something manageable, because remember, interest accrues from the moment a transaction posts with this company... Which is absolutely horrible.

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Nov 20, 2015
Anonymous Cardholder

Credit One Bank, very nice I'm so happy with them. Thanks so much credit one bank!

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Nov 18, 2015
danielviste Cardholder

Do NOT get sucked in by this card.  Go with cap 1 secured card or something else.  Very high interest, awful fees, people from india or pakistan who you cant understand answer the phone only after pounding on the zero button a bunch.  No option to cancel card online, no option to cancel card on phone system, then they will send you to a 2nd rep who tries to save the sale and wastes your time trying to give out breaks and discounts on the yearly fee when you try to cancel.

I just cancelled this card (we will see if they actually do it) at the end of my 2nd year with them.  After saying "Cancel my card" no less than 15 times between the 2 reps, the girl called "JENNY" who could barely be understood finally said it was cancelled.  I asked again if it was and she said it was.  YET THIS MORNING, LESS THAN 12 HOURS LATER, I GET AN EMAIL SAYING THERE IS A DOCUMENT FOR ME.  I LOG IN ONLY TO FIND THE ACCOUNT IS NOT CANCELLED YET AND I NOW HAVE A $35.00 YEARLY FEE ADDED TO MY ACCOUNT.


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Nov 21, 2015

Send a Certified letter to the company to demand cancellation. Documented proof of the request

Nov 18, 2015
bsugar100 Cardholder

I have this card and for me it's an excellent card if you're trying to rebuild your credit, I never had a customer service issue, the people were actually pleasant, I don't work for them so this is not a make them look good story, their fees are crazy but what do u expect when they are putting their trust in u to pay your obligation back, I will keep my card actually I just got a credit limit increase along with being pre approved for another card with them..... platinum card! hope this helps someone else just read everything before u apply I did and knew what to expect and my experience with them is good!

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Nov 12, 2015
Does what it to do.. help rebuild
watertown28 Cardholder

Alright I made a review on this a few months ago after first getting the card so this is an update on this.

At first, I was worried because I was having an awful time getting signed up for the bank site to register. For whatever reason I could not do it on either chrome nor firefox from my PC.

I then tried with my cell phone and bam... it worked. So it might be something funky with the browsers on my computer ( above avg security on my PC )...then off to the races.

Yes, they do hit you with an assortment of fees for things, and yes, the intrest is a strange one, not typical where it takes rolling daily avg when they do intrest. This is not your typical type of no intrest if you pay off before the bill cut off date like many other Credit cards... so beware. Its fine to charge on it and you dont want to pay crazy intrest, you just make sure you can pay the day the charges post or near that time ( usually 2-3 days after the charge ).

The normal type payment which is FREE, will take a day to post, but your funds will not be available to access until a week later. I have found that it seems to go a little quicker after a few payments cuz the system knows your bank account then, so it seems to cut it by a day or 2.

Bottom line is that if you use this credit card, if you use it wisely it can be of great benifit. Will I keep this once the yearly fee hits? Depends if I get a decent increase to the line of credit.

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Nov 12, 2015

I have the same card and I have the same sentiments if I get a decent increase then I will retain the card if not its bYE,BYE!

Nov 05, 2015
Awful Customer Service
Anonymous Cardholder

Pros: Obtainable 

Cons: Refuse to reverse fees (timely payments) Annual fees are high, Attempts to call in and their phone somehow hangs up and after providing all your card info you have to start over with another representative from scratch 

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Nov 04, 2015
It's a start
Anonymous Cardholder

Applied for this card in 2010 after filing bk. Began with a $250 cl. This was my primary card for a year or so and got a discover card. When I stopped using this card I had a cl of $900 in 2013. I cut it up and threw it away. I have my Netflix and dish bill on auto pay on this card. Just over a $100 gets charged every month and paid back that day since it is my oldest card and want to keep it active. Now in 2015, my cl is $2000. Not bad for a rebuilder card, and my discover has a $10,000 cl. 

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Nov 02, 2015
foste1ar Cardholder

Received a pre-approval notice in the mail back in June, and thought I'd be denied because I had royally effed my credit several years back - usually those pre-approvals mean denial in my case. But, it had been a good amount of time since I'd applied for credit, so I figured I'd give it a go. Applied online, instant approval of $400! Not a lot, but it was something! Activated the card (I read the fine print, so I saw this coming) and got charged the annual fee of $75 immediately. After my first payment for that annual fee, they bumped me up another $200. So far, I've had no problems at all (knock on wood) - they gave me a chance and I'm working on rebuilding my credit. It's a long road when you get yourself as far off course as I did, but I'm willing to take the necessary steps - including the APR, which is pretty excessive - but, they gotta make their money too, I suppose. I set up my account to pay online, am able to make multiple payments in a month if I want, or just the minimum without any hassle from them. They let me change my due date, and were very helpful over the phone. I'm just thankful they gave me a chance to help me repair my credit. I've had nothing but a good experience with this card and this bank. Thanks credit one! (4 stars because the APR really annoys me, but I'll suck it up to be able to correct my past credit mistakes).

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Company Overview

Credit One Bank is one of the leading issuers of Visa credit cards specifically for consumers who need to establish or rebuild their credit. Through Credit One Bank’s website, consumers can get pre-qualified or apply for a credit card without affecting their credit score. Consumers can also look over credit card offerings and check the status of their credit card application. Once consumers become cardholders, they can manage their account online through 24/7 online account access, sign up for email and text alert notifications, and also design and customize their card with the Design My Card lab online. Cardholders' payment records are reported to the three major credit bureaus. Customer service is available in an online help center, by mail, and over the phone.

Credit One Bank is headquartered in Las Vegas, Nevada.

Credit One Bank