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Credit One Bank

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2.0372 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 (564)

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Feb 10, 2016
Anonymous Cardholder

If i could rate this 0 i would. They have terrible customer service. I called to make a payment on my credit card and after giving the associate my social security number he said "congratulations you are approved you will receive your card in 7-10 business days" They had OPENED a new card without my permission!!!! And how was it going to be mailed? I didn't even give an address!?? I'm in the process of building my credit score and now have to deal with this. I was transfered and hung up on 4 times!! When I finally spoke to the manager she said no card was opened which is confusing due to being informed my new card was going to be mailed out...... but still i could not get her to assist me with my payment questions. She referred me to another number but they were closed.....I am so irritate and inconvenienced by this entire situation. Now i have to wait and take another day of my time to attempt to resolve this situation. All I wanted to do was make a simple payment.

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Feb 10, 2016
Anonymous Cardholder

Horrible, dont get it, very bad.

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Feb 10, 2016
A horrible card, horrible service
Amirz786 Cardholder

If you are building or rebuilding your credit, do yourself a favor and either get a secured Credit Card or try CapitalOne. My credit was pretty messed up due to debt from a failed business as well as a mortgage remodification. I got an offer from Credione Bank for a $300 line of credit and a $75 annual fee. Basically it works like this: You pay an annual fee, and they charge you $8.25 a month on top of that! to make matters worse, they charge you interest regardless if you carry a balance or not! OMG, so you are always paying them, use the card or not. Their online payment system sucks, and their customer service people are out of India and barely speak English. Credit increases are usually with a fee....I could go on and on. I recently applied for a CapitalOne Platinum (which I could have done in the first place), No annual fee, no interest charges on paid balances, excellent online payment system, good customer service etc. 

Do yourself a favor if you have a CreditOne Bank card...get a CapitalOne card, cancel your Credit One Bank card and never look back

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Feb 05, 2016
Don't do it, they are scam artists.
Anonymous Cardholder

I got this card just a few days ago activated it went online and saw that they were all ready charging me $75 when I didn't even use the card yet! They said it was "an annual fee" but in the offer I got in the mail it said the annual fee would be broken down in to $8.25 per month. Nope! Instead you have to pay the $75 and you get $8.25 stacked on top of that each month and if you make purchases with this card, then you get interest stacked on top of that! I cancelled it because not only was my card rejected twice when I did try to use it, but there is no possible way I could even keep up with the payments if god forbid I even make a purchase. DO NOT DO IT.

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Feb 05, 2016
Horrible card and customer service sucks
Anonymous Cardholder

I regreted using this card it only gives me a headache! I had to request for a new card because someone is using it, and when I got the new card they send me a different ending account number from my card and my online account. then I have to call again for new replacement. its sucks because the guy who has a broken english hung up on me after I told him my Social Security , my address, my telephone number and email. Like really dude!? that's very rude of you! 

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Feb 04, 2016
Rude and incompetent.
Anonymous Cardholder

After recieving my card in the mail I call the number to activate the card. Above the number, in bold, it says "ACTIVATE IN MINUTES", and that is a load of crap. Upon calling, I was asked to input the last four of m social. Once I did I was transferred to someone that barel spoke English. He collected my card number, name as it appeared on the card, and last four of  social. After that he asked me why I was calling, I informed him it was to activate m card. He informs me that in order to activate my card I would have to send a copy of my ID and a copy of a utility bill with my current address on it if it's different than what's on my ID. I informed him that the address on my ID was different, but I live with a roomate, and all of the utilities are in her name. He just repeated that I needed to send in a copy of My ID and a copy of a utility bill.

Again, I informed him that I didn't have any utilities in my name. Again, he repeated that I needed to send copies of my ID and utility bill, but this time added that if I didn't send them in by March 1st, the account would be closed. I told him that he should jut close the account now, since I can't send in something I don't have. Instead of closing it, he just tells me to have a good day and hangs up.

I'm glad he was an ***, after reading all of the bad reviews, I've potentially saved myself a lot of headache, and money.

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Feb 04, 2016
please help
Anonymous

I have accepted the pre-apporved approval but have not receivedd the card. Please help how can i get rid of this account?

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Feb 03, 2016
Read the fine print. This is a sub prime
Anonymous Cardholder

Some of us were irresponsible. Some of us fell on hard times that were out of your control, which ruined our credit. I am a combination of both. A good, unsecured credit card wasn't in the cards, for now. This card has to be used responsibly. Fill your tank with gas, go home, log in to your checking account, and pay it all off. It's free, and posts the next busines day. Don't keep any balance on this card. Interest starts when charges post. No grace period. This isn't an Amex. We can get one of those when we prove we can handle unsecured credit (unlike before, which is why we are looking at sub prime cards like this in the first place!). This is a tool for rebuilding credit, not holding a balance on. Most of the complaints I've read on the Internet are user error. I can't comment on customer phone service, because I haven't had to call them, because I knew what I was getting in to - High membership fees, and high interest rates.

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Feb 03, 2016
Anonymous Cardholder

Got this card approval in the mail, being my credit score was a hot mess in the 500, I read the reviews, Google the company then decided to take for the approval. Less than 3 weeks my credit score has grew. So yes it will help you rebuild your credit. Just make the full payment as I heard that help. Use the website for standard payment no fee and no extra cards for others. That's more fees than you need to build your credit on this card.

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Jan 31, 2016
Charged $157 in fee after account closed
Anonymous Cardholder

This bank charged me $157 for "fees and penalities"  three months after my acct was paid in full and closed. I called their fraud department and they said I had no account with thewm and not to pay anyone anything.  Unfortunately for me, they reproted it to all of the credit agencies and my FICO score had dropped from very good to fair because of their reports. I am 70 years old on a fixed income and they are trying to balckmail me by reporting me as not paying.

AVOID AT ALL COSTS...

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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