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Credit One Bank®

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Most Helpful Positive Review

Aug 18, 2014

It is what it is
Helpful to 55 out of 59 people

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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stevez33's review was:    

 

Most Helpful Critical Review

Mar 18, 2013

Aweful Card - Good Results
Helpful to 61 out of 66 people

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 (352)

Apr 17, 2015

rebuild your credit here but don't stay
Helpful to 1 out of 3 people

First off, the customer service is crap!! I started with this card after a divorce, repossesions and a 500 CR score. I have had the card about 3 years, at first it was great to have credit but, its not growing with me, im not paying for credit line incresase anymore, fact is i have only accepted a fraction of offers and recently have been awarded with a $250 line increase that i have denied for the past few months. Just yesterday i have paid my balance off on this card and a warning to the wise!!!! if you make more than 2 online payments from your registered checking account in less than one billing cycle you will have to go through a payment verification process before using your checking account again to PAY? what is this crap?  not sure they want me to pay...Ive kept my CL low with this card at $900 never missed a payment, currently my 3rd CC  in use and my score is now around 675 but waiting for this months update,in the past 20 days ive dropped my Credit Utilization from 80%  to below 10% overall, hoping to get in the 700's so i can upgrade and drop this crappy company. 

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huntinthetrack's review was:    

 
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Apr 15, 2015

Forget about them! Charged for early pmt

Was charged a $25 late charge which caused my card to go over the limit.  I called during my 30 minute lunch break which lasted 1 hour because I was transferred five times.  At first I was told that I was charged the late charge because I didn't make a payment in March, but after I told the rep that the funds cleared my bank account on March 16, 2015, he didn't have an answer and transferred me to a Manager.  I was then told that because I made the payment two days before my billing cycled ended, I was charged.  She waved the fee but wouldn't apply it to the principal which means my new minimum payment is $50.  Eariler I went into their website and made a $30 minimum payment, but after my conversation with the idiots, I logged onto the website again to pay off the balance and the system wouldn't let me unless I wanted to pay an additional $9.95 for express.  I went into my bank account and scheduled a bill payment through them.  I get the feeling because they aren't quick to process payments, I will owe more than the current balace. Late charges, over the limit fees, etc.   When I get home, I will put this card away and forget about ever using it!  It hasn't done much for my credit score anyway, and if you are seeking to rebuild your credit, stay away from the incompetent buffons and go with Capital One or a secured card. I will wait until my score increases with other cards, apply for another major card, and dump Credit One!

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canCerg1rl's review was:    

 
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Apr 07, 2015

Horrible horrible company.
Helpful to 1 out of 2 people

Horible company.  I inadvertantly accepted a preapproved offer as the name and logo resembled Capital One (who has no affiliation)...

That being said, my mistake but I accepted rather than cancel as at that time any credit to rebuild was welcome.

In the last two years after an initial credit limit of $500 they asked to be paid between $15.00 and $25.00 for two seperate increases of $250 to the CL.  I did to get it to $1000 limit.

In the interim (a month or two after), Capital One approved me for initial limit of $2000.00 and has since increased that to $5000 of course, wihtout asking for fees.

I would not under ANY CIRCUMSTANCES recommend this card.  It seems to me a secured card paid off monthly and never missing a payment in two years would be much more fair given the perfect payment history for two years and ALWAYS charging to it monthly and paying it off monthly.

The above is my personal opinion.

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BBY1968's review was:    

 
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Apr 07, 2015

Improve your credit rating
Helpful to 1 out of 1 people

This is a good company if you want to improve your credit rating.  I used this card and paid my credit card bill on time every month.  My credit rating went up.  Therefore I used the card for what I needed and paid it off then I closed it out only because of the high interest rate and the fee they charge you every year.  It served it purpose. I never had any problems with paying my credit card on-line.  It was easy to close my account as well.  It was a good card to start rebuilding my credit and it worked!

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Susie26's review was:    

 
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Apr 02, 2015

Great easy to use card
Helpful to 2 out of 3 people

I have had this card for little over a year now and my experiences with the company have been really good. I would recommend not keeping a balance on this card, however if you are to make sure that you get your payments in on time and at least a week before they are due. That way the payments are always processed on time. They have a annual fee like most other credit card companies but instead of charging the full amount. They break they payments up over 12 months. I actually really like this feature because if you dont keep a balance on the card it then reads like this every month. Your had the 9.00 annual fee charged to your card. Pay it full and your establishing a good payment history.

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jennifer327's review was:    

 
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Mar 31, 2015

WORST OF ALL!!
Helpful to 4 out of 5 people

I have this card pre-approved and they didn't mention anything about an annual fee. I got the card along with the first statement and got the $75 annual fee added.

I tried to contact the customer service and all the numbers were automated and there's no way to contact a representative. And now I can't even close the account as there's no option to do it online.

DO NOT APPLY!!!

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shan418's review was:    

 
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Mar 31, 2015

WORST OF ALL!!
Helpful to 3 out of 3 people

I have this card pre-approved and they didn't mention anything about an annual fee. I got the card along with the first statement and got the $75 annual fee added.

I tried to contact the customer service and all the numbers were automated and there's no way to contact a representative. And now I can't even close the account as there's no option to do it online.

DO NOT APPLY!!!

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shan418's review was:    

 
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Mar 18, 2015

Customer Service is a JOKE!
Helpful to 3 out of 4 people

This company REFUSES to allow you to speak with customer service in the United States. They state their headquaters are in Nevada but don't expect that as a United States citizen that they honor the laws of our country and provide you with customer service in the US apon request.  They simply state that they have no way of doing that.   They didn't send a statement but when I called to make a payment tried to bully me into paying the complete balance even though the payment due was only $75.  Customer Service is a joke.  I went thru 7 representatives and could not get one without an accent or in the USA.  I will keep the card for a few months to rebuild my credit after a bankruptcy but after that I am cancelling it before they hit me with another annual fee.  AVOID this card if you possibly can!  Shame on me for not looking into the company more before I applied.  They have complaint after complaint filed on the with the better business bureau and other goverment agencies.  JUST DON'T!!!!

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JDWH's review was:    

 
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Mar 17, 2015

Terrible!!!
Helpful to 1 out of 1 people

They charge interest on everything. It does not matter whether or not you have paid off your total balance. For instance I had a balance of $298 I paid it totally off two weeks before the closing statement which was one month before my bill was due. I received a statement in the mail charging interest. WHen I called in the agent told me that even with a zero balance they would still charge me interest monthly.....MAKE SENSE??? Of course it doesn't that the dumbest thing that I have heard EVER!!!! Needless say I will be closing down my account ASAP!!!

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brittlecrunch07's review was:    

 
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Mar 14, 2015

Dont use this card.
Helpful to 1 out of 1 people

This is Sandeep, Writing my experiences using this credit one card

I started using this card from one year back. When i try to make a full payment of card it asks for last transactions input when i do that it never takes and field size is literally low. 

And the great news of this card is when you try to update your profile, for security purpose we have to enter card details alogn with expiration date and the system never accept expiration date printed on card throwing error. 

Im vexed trying to use this card and kept it in my pocket for only reason as i cancellation of this card leaves bad mark on my credit score.

My only suggestion to credit company is check your application before you make them available to customers. And stop asking nonsense questions when customer wants to pay out standing due. 

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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.

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