Credit One Bank Reviews

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2.2 out of 5 stars
1077 Reviews

From Cardholders in the last year

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ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

3 out of 5 stars

Customer Service

2 out of 5 stars

2 5
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Most Helpful Positive Review

Apr 08, 2017
Great Card for Rebuilding
NinjaBingoWarrior Cardholder

So I've had this card about 4 months now, and I just received an email about a credit line increase, so I think it's time I write a review since I can really review pretty much everything about the card now.

Long story short, my credit history is similar to most that are probably looking at this card.  I completely smashed my credit in my early 20s and thought there was no way to fix it.  Fast forward to early 2016, my life completely changed and I realized pretty quickly how much a person's credit score affects their life.  But I didn't know where to start to even begin on the road to credit recovery.

So the beginning of last year, I pulled up my credit report on Credit Karma.  It was in the low 500s.  My heart completely sank.  How was I going to fix this mess?  So I started doing a ton of research on where to even begin.  I won't bore you with all the details, but I started with Fingerhut and Capital One.  After a couple months of good payment history with them, I log onto Credit Karma, and this Credit One card pops up with good approval odds.  I was beyond excited.  When you start building your credit, the only thing that will pop up for you are secured cards, so I was ecstatic to see an unsecured card pop up.

What everyone needs to realize is that Credit One is taking a chance on people that have shown no responsibility in the past, so of course there are going to be fees.  You've shown that you don't make your payments for whatever reason, so those fees are there in case you get this card and do the same thing to them.  $75 isn't much when you think about it from their side (I always tend to look at both sides when judging a situation).  It bothers me reading these negative reviews because they're based on situations that Credit One is completely up front about when you sign up for the card.  They don't hide their fees.  It's written plain and simple in the terms when you apply.

With that being said, I knew what I was signing up for when I applied.  And I was grateful that they instantly approved me for $300.  They took the $75 from the limit a few days after I received the card and activated it, so I started with a $225 limit.  Right after I got the card, I spent the whole balance (Not a smart thing to do when you're rebuilding credit, but I'm learning as I go lol).  I paid it off in two months.  Half one month, half the next.  I started using the card to pay my electric bill.  It's money I would have spent anyway, and I didn't want to use the card for regular every day purchases because it's easy to lose track of how much you're spending.  I either paid the card off every month, or paid most of it down to where the utilization should be.

So here I am, 6 months into my credit rebuilding journey.  My scores are in the 640-675 range (it fluctuates due to credit utilization etc).  Capital One, Fingerhut, and Credit One are who I have to thank.  I've made sure my payment history is 100% and I almost always pay more than the minimum, if not the full balance.  I actually was just recently approved for some store cards, a Chase Freedom, and a Discover it.  So these cards I started out with are going to be slowly phased out from every day use.  Credit One has been fantastic.  Easy app to use.  Easy to make payments.  They don't hassle you when your payment is due (unlike Fingerhut but that's a whole other story!) My score has jumped about 150 points in about a year from disputing negatives on my report and these credit cards.  It can be done.  I still have a long road to my recovery, but I'll get there.  And today I woke up to an email from them that my credit limit was raised to 500!  Not a huge jump, but it will help my utilization overall.  Especially when I stop using the card, which will be very soon.

There's two reasons I wanted to write this review.  One, to show there are legit customers who are happy with this card.  Use it for the purpose you're intending.  Low utilization when possible.  Perfect payment history.  And two, to let everyone know that's reading this that while the credit recovery journey is long, it's worth the work to put into it!  I've obsessed over my credit for the past 6 months.  I've checked it every day and was proactive about fixing what I could.  I'm finally getting to the point where I'm ready to garden with my cards (not apply for anymore and focus on growing my average account age with low utilization and no missed payments), and I don't always check my credit every day anymore.  Do your research, start from the bottom, and fight your way up.  It's definitely fixable.  It takes work, time, and patience but I'm proof that it can be done.  My goal is to buy a house as soon as possible and just get to the 750 point in my credit and I will be content.

P.S. The credit limits I got on the Chase Freedom and Discover It card were actually surprising.  Way more than Credit One offered me.  So I'm going to keep a balance on Credit One, slowly pay it off so I don't have to use it anymore, just focus on good payments, and then cancel it before the second year of fees start.  The only complaint I really have about them is that it takes several days for your payments to show up as available credit.  It's something I knew before I got the card and isn't going to affect my rating, but it's irritating when I pay my Capital One and Credit One card on the same day.  Capital One is available to use the next day, while the Credit One takes, I think, 4-5 days.  It tells you 7, I believe, when you make the payment, but it's always less.  So just a heads up to the new cardholders!  Oh, and the cash back is basically nonexistent, so don't expect much from it.  I probably run the $300 through it every month between payments and charges, and I've earned $1.62 since I got the card lol. 

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Most Helpful Negative Review

Jun 29, 2017
Bad C/S even worse payment posting
Britt072890 Cardholder

I absolutely do not recommend getting this card unles it is your very last option. I currently have a card with them and customer service is terrible you will NEVER speak to a representative that speaks clear english it's aggravating because you can't understand one another. 

The amount of time it takes for a payment to post and become available is disgusting. A whole week before fund la are available unless you pay for express payment which is like $15

last but not least never have money refunded to your cardboard because they will take the refund and not allow you to use it as a payment or even use it at all. I revived a refund from a retail store and they never posted it, it didn't count towards my available balance. In other words yes my total balance went down BUT the $40 refund was not shown as an available balance that I could use so I basically lost my money. 

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These reviews were written by current and former cardholders in the last year.

Dec 18, 2017
Only Care About Payments
AlyssaLynn17 Cardholder

They will call you before your first payment is even due and tell you your account is past due and ask for a payment. Then I went online to schedule a payment for Jan 5th but the prompts didnt give me an option to change the date or tell me it would be scheduled same day, only showed the due date and then said my payment was coming out today. Called to cancel and they told me they couldn't. Horrible customer service and can barely understand anyone you get on the phone with.

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Dec 18, 2017
drive4tots Cardholder

I have the card. It is not a bad card to build credit, however the on-line banking is awful. Constanly down, when you call CS, you get someone from who knows where that you can't understand. I removed the card from my wallet & got a Capital One card. I paid the balance on Credit One & use it strictly for credit purposes. Charge 1 tank of gas a month & pay it off.

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Dec 17, 2017
Avoid if you can. Do your research!
MonroeParker99 Cardholder

I started in January 2017 with no credit history of any kind. When Capital One Mastercard sent me a pre-qualified offer, I applied and was approved for $500.

 Then in June 2017 I received a similar offer from Credit One for a Visa card. Being new to credit, and naive, I foolishly had not done any research. I hastily applied thinking this was another offer from Capital One. I was approved for $500 which was increased to $700 after I made my first payment for the full balance (the $75 annual fee).

 I would love to blame Credit One for my ignorance but alas it was I who did not do my homework before applying. However, this turned out to be a valuable learning experience. I doubt I'll ever be a credit expert but I have come a long way in just the last few months by educating myself on how credit works.

 As for my experience with Credit One I suppose I have only minor complaints compared to many others who use this card. They are slow to post payments so expect to wait. I only used the card for small purchases, usually less than $20, and always paid online as soon as the charge posted. I was miraculously able to avoid interest charges by doing this. I have since gotten much better cards with higher credit limits and no fees. I called Credit One to cancel my account in Nov 2017. I can confirm the customer service is a nightmare. Their English is very difficult to understand. I was transferred twice and hung up on once. They tried to get me not to cancel but eventually gave in. Today I checked my credit reports and Credit One shows as closed by consumer on Experian and TU.

 From my experience, I would advise anyone to do your research before applying and, even though I was fortunate, avoid this card at all costs!

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Dec 15, 2017
Double Dipping
dwgrady Cardholder

They charge interest on their own fees.  Ridiculous.  Bad business.  I'm cancelling my card after 10 years of this stuff.

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Dec 14, 2017
Good for rebuilding
Toastey Cardholder

I got this card to rebuild my credit and it has been pretty good. They report no late payments and I always pay on time. I always wait to make a payment after the last billing cycle to avoid any head aces. There fees are a little up there bit it's to be expected with a card like this. Get this card if you want rebuild.

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Dec 14, 2017
Hidden fees, avoid if possible.
jwilliams8506 Cardholder

I hadn't used this card in 2 months. Then I got a call that I had a past due balance and found out they increased my credit limit without asking me, then charged me a fee b/c they increased it, and also started charging me monthly fees for credit protections and "annual" use. So my past due balance was actually $70 in fees they had assessed over the last two months.

Then, I called to cancel. They don't have a direct line to a person, their automated system is crap, so I just pressed 0 about 20 times to speak to a person and then had to listen to 3 different people try to talk me into not canceling before they finally let me. But knowing how shady they are, I will be checking my online account to make sure they actually cancelled my account.

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Dec 14, 2017
Terrible
Anonymous Cardholder

High-interest rate. If you are trying to rebuild your credit I guess it is worth a try. Whenever they increase your credit limit they hit you up with a service charge. Customer service is terrible. Payments that you make take almost a week to post to your account. I have a Capital One card and funds are available the very next day.  You can pay $9.95 for an express payment, however, be sure you make it on your debit card, if you pay by your checking account they will take your $9.95 and you will still wait a week for your funds. Only if you use a debit card will the funds be available the next day. Read the fine print.  I will be closing my account.

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Dec 14, 2017
Great card!
Anonymous Cardholder

Great for rebuilding credit!

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Dec 14, 2017
Good card so far
Kayone Cardholder

I had this card for 6 weeks and got a $150 credit increase without a fee....good card to rebuild your credit.

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Dec 14, 2017
So far GREAT!!
QueenCourt813 Cardholder

I filed bankruptcy and it cleared in May 2017. I firat applied for Capital One in May and was approved for 1000 CL. Shortly after i applied to Credit One. When I first recieved it they charged a $75 fee which was expected. Ever since then I have been paying on time (the full balance) whenever i use it. No problems after about 4-5 months of good payments they increased me from a $300 CL to $450.

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