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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 53 out of 55 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 57 out of 62 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 (345)

4 Contributions
69 People Helped

Most Helpful Positive Review

It is what it is

Helpful to 53 out of 55 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.

Most Helpful Negative Review

Aweful Card - Good Results

Helpful to 57 out of 62 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!

Mar 18, 2015

Customer Service is a JOKE!
Helpful to 1 out of 1 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!!!

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.

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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Mar 13, 2015

it help my credit score out

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tigerbblood's review was:    

 
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Mar 13, 2015

Terrible

This company nickels and dimes you to death.  They charge an annual fee, which I was ok with since I don't have the best credit and I was willing to try anything to improve my credit score.  Then, after having the credit card for about a year they offered to increase the credit limit.  I accepted since I was hopeful that this could only improve my credit score.  The catch is that they charge an additional fee for accepting the credit limit.  I again, accepted the fee and told myself that this was for a good reason.  Lastly, this past winter I lost my credit card.  After searching for it I contacted the credit card company and asked for a replacement card.  Surprise, surprise... they wanted to charge me another fee to replace the lost card.  I am so sick of paying them for every little thing.  I told them I do not want a replacement card but they insisted.  After arguing with them that I don't want a new card if they are charging me for it the voice on the other end of the phone agreed to waive the fee as a one time courtesy.  I should be happy, right?  No.  I then asked for help to access the online banking.  Somehow my computer lost the saved password, so I am unable to access online bankign to pay my bill.  I asked fi they could help me and she said that there is no way for them to reset my online banking information because I need my new card with the expiration date.  The new card won't be here for 7-10 days.  By the time it arrives the credit card bill will be late.  If I try to pay on the telephone they want to charge me another fee.  Another thing that I hate about this company is that whenever I have called for assistance I am routed to a call center somewhere that is not in the USA.  The representatives are hard to understand sometimes and it feels like they are reading from a script and are taught to never deviate from it.  The whole experience is frustrating and this company makes things so much harder then they need to be.  

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Mar 11, 2015

Fees and inconveniences galore

This is a card for when you're starting over and are limited in your choices. Stay away from them unless you NEED to rebuild your credit with whatever opportunities you can get. For me, I had just gotten my Chapter 7 bankruptcy discharged and needed to start over. Credit One Bank pre-approved me for a new card. I got an initial $500 credit line. The interest rate was high, but not unreasonable. It came with an annual fee too. But all in all, considering my fresh-out-of-bankruptcy status, I felt it was a fair deal.

When you apply and get the card online, they ask if you want to customize the card design/image. I do not recall seeing ANYWHERE any mention of an added fee for this. Maybe I just missed it. But I usually notice these things. I was surprised when there was a $6.95 "premium design fee" on my statement for a rather boring, generic black cover image. But whatever. Moving on...

They promise to provide a free credit score with your statement. But after a couple months, it was still "N/A." Turns out I had to personally set this feature to "active" in my online account. It's been a few weeks, still no credit score. But maybe it'll appear with my next statement.

Another thing to watch out for is how they calculate the interest. Most credit cards give you a 30 day grace period. Not Credit One Bank. Starting the *day* the charge posts to your account, they start charging interest. And if you pay off the balance early (before the statement comes in), they'll round up any interest pennies up to a minimum finance charge of $1.00 when your bill does come in.

And if you make extra payments ahead of time during the month -- here's another little surprise I ran into. They only let you make 4 payments per 30 day period. WTF? Why would they limit how often I can *pay* them? Because, obviously, they want to rack up interest and hope I pay late sometime. If you want to do an express payment, there's another fee. But I always did the standard 4-day payment, which is free. Now I'm waiting until I can make another payment...and will pay off the card in full, and never use it again.

They give 1% back on gas purchases. I was planning to use it as my gas card. But whatever bonus I receive from gas purchases is offset (and negated) by the much higher credit card interest rate that starts applying from day one. They only way to make the card work for me is to pay off the balance immediately, as soon as it posts, but again -- they only let you make 4 payments per month! And you can't even over-pay your card, even if there's "pending transactions" and you know exactly how much will be on your total balance. They only let you pay for what's already posted, and not any pending charges.

In summary: if you need to start completely over (like I did) and aren't getting any better offers, this is a decent starter card. But be warned: they nickle and dime you for EVERYTHING. Choose a different cover design? $7 please. Want to add a second cardholder? Add $20. Want to increase your limit? That's another fee. The list goes on... There's not even a smartphone app for these guys that I can find. And they make it hard for you to avoid paying exorbitant amounts on their no-grace-period high interest rate, by limiting how often you can pay them. Avoid them unless your options are limited.

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tudec1's review was:    

 
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Mar 10, 2015

Good for Rebuilding

I've only had a card through Credit One Bank for about 5 months now, but the experience has been great so far.  I'm still at the initial $300 limit - haven't received or been offered any increases.  The card is expensive, but was about the only option for my credit situation, and has helped increase my score already.  With the different account alerts that are available through your account on the website, there's no real excuse for going over your limit, making a late payment, etc.  I would recommend this card to others who are in similar credit situations as me who would like to rebuild their history.

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rebuilding86's review was:    

 
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Mar 09, 2015

The worst mistake I ever made.
Helpful to 1 out of 1 people

Whatever you do, avoid Credit One Bank and their credit cards like the plague.

A few years back, as I was attempting to rebuild my credit, I received a pre-approved offer from them in the mail. The logo is astonishingly professional...and actually looks like the Capital One logo. Not realizing how awful of a credit card company they are, I signed on.

The card itself was fine. I mean, it worked. But the entire experience was full of fees. Want to pay your bill and have it post the next day? Fee. Want to increase your credit limit? Fee. Want to customize your card? Fee. Want to add a second authorized user? (And boy...do they push THAT every time you log in.) A fee.

Most importantly, there's an annual fee. I seem to recall paying the initial annual fee in one lump sum. At some point, they shifted the system so that the annual fee is divided into 12 equal installments and billed throughout the year.

Flash forward to now. I'm in a MUCH better situation in regards to my credit score and I don't need/want the card. It's been paid off. But there's that shady monthly installment of the 'annual' fee. A system that's designed to trip you up into forgetting a payment so they can sock you with fees.

I want to cancel the card. I call EVERY phone number on the website for 'Contact Us.' EVERY number leads me to the same phone tree. A phone tree that recognizes my phone number and knows I have an account. Not a single phone tree option leads you to a real live human being. Even the old faithful standby of pressing zero goes nowhere.

I finally get smart and type in a bull**** account number and a bull**** last four digits of my fake social security number. After doing that a few times, the system finally kicks me over to a hold queue to speak to someone.

I wait on hold for 30 minutes. I finally get someone who's clearly on the other side of the planet. I explain that I want to close my account. He immediately offers to waive the 'annual' fee for 6 months. Which is funny, because I hadn't mentioned my irritation at that. I tell him no. And I tell him that the fact that I had to jump through so many hoops to speak to a human being makes me that much more interested in closing my account.

He gives up. And proceeds to read off a rambling statement that would seem to indicate my account is going to be closed. I tell him that I've read enough reviews online to know that many people have gotten this far in their epic quest to close a Credit One credit card...only to find out that they've been duped and the account was never closed. I'd like a confirmation number. He gives me one. And hangs up.

So...I think the card is closed? I'll keep an eye on it for a month...and if I have to, I guess the next step is to send a certified letter to the post office box they use in Las Vegas.

Bottom line - Credit One Bank sucks. Avoid them at all costs.

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jjgard77's review was:    

 
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Mar 08, 2015

Only recomended for people trying to
Helpful to 1 out of 1 people

I have used this card in the past and i would only recomend it to people that are trying to establish or rebuild credit. Don't argue if you have bad credit because they will extend you credit when no one else would thus giving you a chance to rebuild your credit history. My advice use this card for 11 months then request to close it before you pay the next annual fee, that's what i did. Now my credit score is around 749 with credit limits around $10,000 on each of my cards.

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mjaber45's review was:    

 
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Mar 06, 2015

Only Apply if You are Desperate!!!!

I only applied because I really needed to rebuild my credit... like most of the other people on this Credit One forum. Everything about this card is terrible/rip off. The only good thing is you have a high rate of approval and it will rebuild your credit! They charge for extra cards, expedited payments, annual fee, credit line increases, you name it. They offer no fraud protection. This again is only a last resort... If you have filed bankruptcy, have multiple missed payments, collections, or just bad credit/no credit..... Credit One will approve you!!!! I gave 4 stars, because it is a great credit card if you have terrible credit..... With having terrible credit, you get terrible terms and tons of fees. However, in exchange you get approved and have a chance to start rebuilding your credit.  If you have good/great credit and still want to apply then you are insane. Go Capital One or BarClays if you credit is Fair/Good 580-620 credit score. Otherwise Credit One is the best credit card for terrible credit....

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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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