NASCAR American Express Credit Card Review

Full Review of NASCAR American Express Credit Card

Pros Explained

• No Security Deposit Required: If you have poor credit or no credit, you typically have to start with a secured credit card and put down hundreds of dollars as a security deposit to serve as your credit line. While the NASCAR American Express Credit Card is available to people rebuilding their credit, it doesn’t require a security deposit. You may qualify for this card even if you have a history of bad credit.
• Cash Back: Most cards for people rebuilding credit don’t offer rewards. But with the NASCAR American Express Credit Card, you’ll earn either of these rewards depending on your creditworthiness:
  1% cash back on eligible gas and automotive purchases; double cash back on Nascar.com purchases, or
• 1% cash back on all eligible purchases; double cash back on Nascar.com purchases

Depending on how much you spend on eligible purchases and NASCAR fan gear, those rewards can add up. 

• NASCAR Exclusives: Cardholders get exclusive access to special deals, discounts, and experiences from NASCAR-participating merchants. For example, you could get a discounted membership with the Official NASCAR Members Club. For NASCAR fans who collect the latest merchandise and attend races, this can be a nice benefit. 

Cons Explained

• High Fees: The NASCAR American Express Credit Card has high fees typical of cards designed for people with poor credit. Some fees to keep in mind include: 
• Annual fee: There is an annual fee of $75 for the first year, which increases to $99 after, and is deducted from your credit limit. If you’re approved for a credit limit of $300 and your annual fee is $99, your credit limit will initially be reduced to $201.
• Authorized user fees: If you want to add an authorized user to the account, you’ll pay $19 per user per year. 
• Foreign transaction fees: If you use this card outside of the United States, be prepared for foreign transaction fees. You’ll pay $1 or 3% of the transaction, whichever is greater. 

There are other unsecured credit cards available that charge fewer fees and offer rewards. For example, the Petal card has no annual fee, authorized user fees, or foreign transaction fees. Plus, you can earn up to 1.5% cash back on purchases. 

• Low Credit Limit: The NASCAR American Express Credit Card has a very low minimum credit limit. Depending on your credit, you could be approved for a credit line of just $300 and your annual fee will further reduce this credit limit. Considering AAA estimates the average car repair costs $500 to $600, this card may not cover a single emergency, leaving you scrambling to find other financing. Another option if you have poor credit is the Blaze Mastercard. Depending on your creditworthiness, you could get approved for a credit limit between $350 and $1,500. But if you make your payments on-time, you could qualify for a credit line increase in as little as six months. 
• Poor Customer Satisfaction Ranking: Credit One Bank isn’t known for its customer service. J.D. Power ranked Credit One Bank last out of 11 national credit card issuers in its 2020 U.S. Credit Card Customer Satisfaction Study. Why is it so bad? One reason may be limited customer service. Unlike other card issuers, which offer 24/7 support through different methods, Credit One Bank only has an automated phone line available around the clock; you can’t contact them online through secure email or chat. If you want to speak to a live representative, you have to call 877-825-3242 during operating hours: 
  Monday through Friday: 5:00 a.m. to 9:00 p.m. PT, and Saturday and Sunday: 6:30 a.m. to 5:00 p.m. PT.

If you have questions or issues outside of those hours or prefer not to use the phone, you may find Credit One Bank’s customer service experience to be frustrating. If that’s a major problem for you, look for another card issuer like Discover. Discover is consistently ranked as one of the best card issuers in regard to customer service. And while the Discover it Secured card does require a security deposit, it has no annual fee and offers rewards. 

The NASCAR American Express Credit Card is best for someone with poor credit who is looking to rebuild their credit history and doesn’t want a secured card. With this unsecured card, you don’t need to put down a security deposit. Plus, you’ll earn 1% cash back on eligible purchases. 

For NASCAR fans, it does have extra benefits. Cardholders get 2% cash back on purchases made at the NASCAR Shop and access to exclusive deals, discounts, and special experiences. 

Rewards Earning Details

With the NASCAR American Express Credit Card, you’ll earn 1% cash back on eligible purchases. 

You'll also earn 2% cash back on purchases made at the NASCAR Shop at NASCAR.com. 

Credit One Bank also occasionally partners with retailers and merchants. When you make a qualifying purchase from one of those partners with this card, you could earn up to 10% cash back. 

There’s no limit to how much you can earn in cash back rewards. 

Rewards Redemption Details

Credit One Bank only offers one redemption method: You’re automatically issued a statement credit for every month you’ve made a qualifying purchase. This statement credit reduces your credit card balance but doesn’t count as a payment on your account. You’re still responsible for making the minimum required payment by the statement due date. 

How to Maximize Your Rewards

To earn the maximum amount of rewards (assuming you qualify for the 1% on eligible gas and automotive purchases rewards path), use the NASCAR American Express Credit Card whenever you purchase gas or parts or service for your car at eligible gas stations or automotive supply stores, or for any purchases at the NASCAR Shop at NASCAR.com. 

To show you how your rewards can add up, consider that the U.S. Bureau of Labor Statistics reported that the average consumer spends $2,094 per year on gasoline and motor oil per year. If you spent that much on eligible purchases and used your Credit One Bank NASCAR Visa to pay for it, you’d earn 1% cash back, giving you $20.94 in rewards. 

If you spent an additional $500 on merchandise at the NASCAR Shop at NASCAR.com, you’d earn 2% cash back on your transactions, giving you another $10 in rewards. All together, you’d earn $30.94 in cash back rewards over the course of a year.

Standard Benefits

• Free online access to your Experian credit score
• Mobile app 

Cardholder Experience

As mentioned above, Credit One Bank has a poor reputation for customer service. With limited hours for its customer support, and being only reachable over the phone, you may be unhappy with how the company handles problems you may have. 

Security Features

The NASCAR American Express Credit Card has standard security features that are typical for credit cards, including zero liability protection and fraud alerts. 

Our Verdict

If you’re a NASCAR fan and need to build your credit after making mistakes in the past, the NASCAR American Express Credit Card can give you access to an unsecured credit card and allow you to earn rewards on select purchases. However, it charges costly fees, has a low minimum credit limit, and offers few benefits. You may be better off shopping around for another unsecured card or applying for a highly ranked secured credit card and putting down a security deposit.