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Credit One Bank

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2 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 (806)

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Jun 28, 2016
Cost to rebuild
BroomCredit Cardholder

So many people on here complain about this card. I applied 2 months after bankruptcy I was approved for 300cl. So after I had it for 5 months then I received a 200 cl increase and was not charged for it. Sure interest rate is high, but you knew that going in, that is not a surprise. I just think people need to learn how to use your cards. I run my utilization up but pay it down to 30% before the due date and keep it down until the cycle closes. Never go over your limit and pay multiple payments a month.

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Jun 28, 2016
Legal loan shark
Anonymous Cardholder

I had this card because I had some credit issues. (The good is they helped me build my credit) the rest is all bad. Even if you pay balance in full every month the charge you interest... I called and canceled the card and payed my balance in full.. I then start getting calls from them that I still owe them and they are mark me 30 days late and send me to collections saying I owed them $2.07 after I called them and got balance and went online paid in full showing 0 balance and then the next month a mysterious $2.07 charge I called and argued but to no avail.....lesson learned.

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Jun 28, 2016
High interest, tons of fees
lauram1208 Cardholder

Have had it for several months, requested and received a credit line increase. Went online to pay and my account was temporarily suspended so I called and was told they now need to verify it is not fraud. They want me to mail, not fax copies of my birth certificate, drivers license, social security card and a utility bill to a post office box in Las Vegas. I will pay off the balance and close the account but am not sending the doucments, there are other ways to ascertain identity and prevent fraud, I'm not buying this sounds crazy to me.

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Jun 28, 2016
NOBODYNEW Cardholder

I am not impressed. Working hard to pay it off. They are a poor way to rebuild your credit.

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Jun 28, 2016
Frustrating
Anonymous

I applied for and was approved for this card. However, once I called to follow up on the processing, I have been told three different things fromthree different reps regarding the process of receiving my new card. One said seven to ten days to review the application, One said seven to tendays to receive my new card, and one has said at least three weeks. Now I'm slightly concerned about the itentions of this company. I have raised my credit score over 30 points in less than 6 months. I'm concerned this company is now going to decrease my score instead on increase it. I've never experienced this type of delay in receiving a card. Also, they will not tell me what the first payment date will be so I can get the first payment submitted as soon as possible to cover the activation fee. Very Frustrating

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Jun 27, 2016
Good for people with no credit history
Anonymous Cardholder

I got this card as i had no credit history ( am european).

I always made my payments on time and had no problems at all so far (i'ts been 1 year). All this people complain becasue they don't pay on time or have other excuses. Their website is super easy to use, so no excuses to not pay on time.

Honestly, it makes sense that they charge more than other credit cards, as they offer a credit card to people who have no sort of credit history, so no other credit card companies would do this. 

The fees  are hight obviously but it helps to build up the credit, then, once you make your payments on time and you have a good credit scrore. you have other credit cards options and you close this one if not happy. 

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Jun 27, 2016
nothing but headaches
lovedogs21 Cardholder

I have had nothing but trouble with this card. I have had the card 6 months had 7 different cards do to fraud, the fraud accured before I activated one of them, yes they took it off the card but, somehow I went from a zero balance to $311 balance and they will do nothing about that, also says it is a US company, good luck getting an American on the phone all I get is people in India.

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Jun 26, 2016
Not a credit builder. A Fee Harvester!!!
rcfinzel Cardholder

I had this card for over 2 years, I thaught that it would help my credit to get a tradeline that would be current. I was wrong. Now mind you, I did have horrible credit at the time that I applied for this card. I was approved for a $300 limit. Then I was charged $75 for "membership fee" to the card. I figured this was like a way of getting out of doing a secured card. I payed this and kept up to date on this card regularly. I even paid in full quite a few times. Then a year rolls around, I get a letter that says that I can have a CLI of a whole $150 for a service fee of $49. SERIOUSLY!!!!! I called sutomer service to see if this could be waived, and all I got was a horrible overseas call center rep that told me that it could not. On top of everything else I had a hard time making payments on this card after my daughter was born with medical issues and I lost control of my finances. I kid you not that I had at least 3 if not 8 calls a day from varying numbers from a robodialer call me every day Sunday-Saturday. I seriously baught a burner cell phone to escape these clowns and their herrasment of phone calls. The only good thing about this company was the fact that they was dumb enough to put an arbitration clause in their CMA. That is the way I settled this debt. I will never do business with credit one again. I would suggest going to a credit union and opening a Secured card before going back to these clowns.

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Jun 25, 2016
It works for what its intended for.
Skyw4rp Cardholder

This card is meant for people to rebuild their credit.
Yes, they have a high interest rate but that's what you get for having poor credit, because you're a risk. Yes they charge $75 for activation, probably just to make sure you're able to pay it to see you're credit worthiness.
I have had this card for 2 months now, after the first statement they gave me a CLI & I did not get charged for it.
During the first period, I had got gas with it & they charged me interest in it that next day after it posted. I paid it in full when I noticed the interest charge & they haven't added interest since.
This card works for what its intended for. If you have bad credit, you're going to pay more. Unfortunately that's how credit works.
All these people saying credit one is a scam, or all these bad reviews are from people who don't know how to read & didn't fully understand what they were getting into.
Read the terms & pay your balance in full & you'll be fine.

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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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