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Credit One Bank®

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Cardholder (369 Reviews)
Application Process
Customer Service
2.0406999588013 5

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Most Helpful Positive Review

It is what it is
Helpful to 83 out of 88 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

Aweful Card - Good Results
Helpful to 74 out of 79 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 (369)

Credit One Platinum Visa
Helpful to 3 out of 3 people

Approved in June 2015 with CK 628 with a $500 CL. I really have nothing positive to say about this card other than a positive account to report to the CB's. The online site is horrible, the payment takes at least a week to report unless you're willing to pay extra fee's, I did not recieve the credit score monitoring as advertised in the pre-approval, it took at least 3-4 weeks to receive my card and I'm yet to receive the second user card. I wish I'd never got this card but since I did I'll keep it up till the next $45 annual fee is due then close the account.

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SHANEINCARROLLTON's review was:    

 
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Do not fall for the EXPRESS Payment

Credit One offers an express payment option that suggest that if you make your payment using this option and pay an additional $9.95 then your payment will post the next day and that payment will be available for use the next day too. However, that is NOT true. Only $100 will be available and the rest will be available days later. If you make a standard payment they will hold the payment for 5 days. 

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Do not use, they are not secure.
Helpful to 3 out of 4 people

I've had Credit One Bank for about four years now. I've never had any problems. Yes, they will nickle and dime you for all sorts of fees, but I knew that going into the account. I had no credit cards for a few years, so I decided to build my credit rating back up.

Everything has been fine until the end of May, 2015.

I received an alert from my checking account bank that my account was overdrawn. I log in, and wow, an express payment of over six hundred dollars that I did not make to Credit One went through. I alert my bank that it's a pretty weird payment, they mark it as fraud and I call the credit card. They don't seem to understand what happened, they marked it as fraud, and I went on my merry way. Note: I was not late on payments and had just paid them $425.

A few days later, I receive another overdraft notice from my bank. I look at my account, and ANOTHER express payment of $1180 went through. What in the world. I log back into my credit card, and I look through my payments and I realize that their system is duplicating past payments that I've made. Odd.

I cancel the card for protection, they tell me it's cancelled. Fine. I'll wait for a new card.

Well the next day I call the credit card company back to verify my account was indeed closed, and it was, but not before a fraud charge of over $680 went through. What. How can a charge go through on an account that was supposed to be closed? They told me that it takes 24 hours before the card is officially closed when their systems update. Yeeeeeah okay. That's shady.

I report this card as fraud, and they tell me everything is taken care of now, that my replacement card is in the mail and no more charges can be made. Fine.

Two weeks later, no card. Also note: once the card is cancelled you no longer have access to your online account, you cannot log in to monitor anything. You must have an active, valid card to access your account. No card, but I do receive in the mail that my mailing address has been successfully updated....to one that isn't my address. I have not moved. Of course I call the bank.

As it turns out, AFTER my account was closed, someone either hacked into their shady system OR someone who works there, changed my mailing address AND my email address in an attempt to get my new card. At this point, I've had enough. I completely close the account and tell them to mail me my last bill and statement.

I just now, THREE WEEKS LATER, received a statement...that has that $680 fraud charge on it plus two express payment fees for the two payments I never made.

I call them again, asking them to tell me what my actual balance is. They don't really know, because their fraud department is still investigating and it will take up to SIX MONTHS to complete the investigation. I ask to speak to a manager. They tell me it's 30-90 days and I'll be receiving information soon and I can just make the minimum payments...only I refuse to give them my bank account information.

So, it's been weeks and weeks, my account was completely compromised, they still do not know what I owe, and now my credit rating (which was just fine before this) will end up taking dings because I don't know what to actually pay them.

In short, someone who works for them is either engaging in criminal activity and stealing your information or their system is so weak that their security sucks.

Furthermore, they do not have 24 hour customer service, and aren't even open on Sundays so if you do have to file a fraud alert, you have to wait until they're open, in which case EVEN MORE fraud can happen.

I am now filing police reports and wondering if this is going to end up in court.

BEWARE. DO NOT USE THEM. DO NOT. IT'S NOT WORTH IT.

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Good card for bad credit.
Helpful to 3 out of 4 people

I applied and recieved this card about 3 years ago when my credit score was around 540.  Yes there is an annual fee, yes the payment process is slow unless you pay an express fee, yes the interest rate will be higher than prime, and no you will not receive any rewards or benefits from using it.  But this card is a great option for a person trying to rebuild credit, when I had a 540 I was a huge credit risk and credit one was the only company that gave me a chance.  Yes I had to pay for that chance but they take on quite a bit of risk by catering to low and no credit customers.  Well 3 years later by making my payments ontime every month and keeping my balance low i now have a 680 and and was recently able to buy a home and get a citi american airlines credit card.  This card is not a long term option but for me the amount I paid them over the last 3 years was certainly worth the improvements I have seen in my score.  I have dealt with customer service twice in the last three years and yes there is a labrynth of an automated phone system to deal with, but once I actually reached a person, both times the issues I had were resolved quickly and to my liking.  So in summary, if you can qualify for a better card do it, if this is your only option, then use it responsibly to improve your financial life but be aware going into it that your bad score is going to cost you.

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THEE WORST CREDITOR EVER!!!
Helpful to 4 out of 4 people

I am currently in the process of establishing credit. I have two credit cards with Capital One (love them) and a few department store cards. I received a pre-approved offer from Credit One in the mail and decided to apply. The biggest mistake ever. Today while at my place of business I received 2 phone calls on my cell and 1 on my job phone harassing me about making a payment (6/29/2015) but my payment isn't due until 07/02/2015. I made a payment online today for $50 (my minimum payment is $25) but I still received these harassing phone calls from some man insisting that I use my debit card over the phone and pay my bill. I politely tried to tell him that I made a payment online today and if he would adequately do his job, he would see there is a payment pending for the account.

If you are considering obtaining this card, I strongly urge you to resist temptation. I can not wait to pay this balance off and be done with this company. They're not a company of intergrity. I wish I would have done my research before getting this credit card. I have an impeccible history of making on time payments so it really grinds my gears to be harassed about making payments that aren't even due yet.

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This sounds like a scammer has latched onto this co either through some computer hacks at their offices or by hacking your computer if you are making payments on line. There has been several complaints about different companies doing exactly as you describe. NEVER EVER give your credit card info to someone that calls you. You can take the phone # they called you from and just plunk it into GOOGLE and search. Check out the sites that show up in Google's results - if the # you Googled shows up on specific sites you will see it and see if others have the same problem. If it turns out to be a scam, report it to law enforcement, fraud department and the actual company you have the card with. If it's a scammer they do not want you to call the company and get pretty nasty [some even say that the police are coming to arrest you for non-payment of a debt and that is just pure bull]. They are trying to scare you into giving up your card #, name as it appears, expiration date and your security code [the cvv # they always ask for when ordering on-line or over the phone or catalog. You can, if you wish, mess with them right back. Tell them you have to run out to your car [or someplace like your spouse/kid has it and is out with it and you need to get in touch with them to get the card back so you can make a payment] to get the card, so if they give you their name, number and extension, you will call them right back with the info they are demanding. If they ARE scammers you now have additional information to give to the authorities. Also act scared/nervous so they believe you when you say you are going to call them back. If it is who they say they are [after thoroughly checking], and you are not past due this is also illegal and though I am not one to jump on the "sue 'em" train, the harassment is interfering with your job and and that is something you do not want to lose because they are acting inappropriately.

lcbflorida1's reply was:    

 
If this is your only option stay away

Stay away from this company, the worst credit card practices I have dealt with, will be turning them over to consumer credit agency, they have the nerve to try to charge you a monthly fee to have their card of $7.99, I told them under no circumstance would I pay them to have their card, they constantly offering you an credit increase for an additional fee. Told them to close the account and I sheared this card.

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Misrepresentative and unethical!
Helpful to 6 out of 6 people

This company has very misleading and unfair business practices.  I would not recommend them unless you can't find credit anywhere else.

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Horrible

They approved me with bad credit (539) which I was excited about but after having the card for several months I can not wait to be able to cancel it. The customer service is horrible (over seas) and the payment process is difficult. They charged me $25 for a returned payment fee, when there is no reason the payment should have not gone through. I now have to send them bank statements and wait to be reimbursed because of their mistake. Do not get this card unless its your only option, they will nickel and dime you to death and its sometimes difficult to get someone on the phone. 

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Been good to me
Helpful to 5 out of 5 people

Now of course we all know that if anyone is even considering this card they must have, like myself, previously ruined their chances of credit with other more reputable companies. With that being said I knew what I was getting into when I applied for this card. Yes, I did my research. Yes there is an annual fee and yes there is a high interest rate. I applied anyway. Why? Because I know what I need to do to rebuild my credit. I know right now I don't qualify for other companies without making a deposit to a secured card. Even after reading the reviews I took that leap and applied. I was immediately approved for $500. (All scores range about 570) This is my only credit card are that I have applied to thus far to rebuild my credit. I have used my card for only one month and received and email saying they are giving me a $200 increase without a fee. I was totally surprised as I haven't even had the card two months. Also, I order a lot of products as a reviewer. For my protection they held my account because of suspicious activity. I informed them that I was aware of the purchases and all was well. I appreciate that they were aware. I had no problems at all when I called. Yes the rep did speak with a strong accent but the process was seemless. Overall, I'm glad I went with what was best for me. I know what I need to do and this is a great starting point. 

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I too applied for this card to help build my credit. Everything was going goo. I made three payments on time & then all of a sudden when I called to make my May payment there was no option to pay over the phone. I then paid online & after 5 days I was told the payment was not honored by my bank. I called my bank who stated Credit One had not issued the item for payment. So, I went back online, checked my payment information which was correct & proceeded to make a another payment which I was told was not honored by my bank. I called Credit One & asked to speak to a supervisor who stated I was missing a SEVEN on my payment information. RED FLAG - How did she know I was missing a seven? In order to make a payment with her I had to pay the $9.95 fee. Now my account has been suspended. I cannot pay over the phone without paying another $9.95 fee, can't pay online because my account is suspended. So, I am going to send the payment in the mail first class where they have to sign for it! I am really angry about this. Beware of this card if you are thinking about it! I wouldn't recommend it to anyone!

kta29627's reply was:    

 
Credit One worked for me!
Helpful to 6 out of 8 people

I applied for the Credit One Bank Visa about two years ago.  I was initially approved for $300.  After timely payments, I have steadily increased my credit limit, and it is now $1500.  This card is useful for those looking to rebuild/repair their credit.  With on-time payments, paying more than the minimum, or even paying off the balance, it can work for you too.  A lot of the lower ratings I've read for this card seem to come from people with poor credit who still haven't grasped the concept of how to repair their credit properly.  That's unfortunate, because I have had a rather successful experience with Credit One Bank.

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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.

Approval Odds

Credit One Bank®

369 Reviews