Credit One Bank Review

These credit cards could help people rebuild their credit and earn rewards

We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Learn more.

Credit One

Credit One Bank is an online-only bank that exclusively offers credit cards. It is a technology and data-driven financial services company that is based in Las Vegas. The bank offers American Express and Visa credit cards to millions of customers across the United States. This in-depth review can help you decide if Credit One Bank’s products are right for you.

  • Pros & Cons
  • Company Overview
Pros & Cons
  • Credit cards to help build credit

  • Rewards cards earn up to 5% cash back

  • Minimum credit line of $300

  • High interest rates

  • Variable annual fees based on creditworthiness (up to $99)

  • Foreign transaction fees of 3%

Company Overview
  • Year Founded 1984
  • Official Website
  • Official Products Offered Credit cards
  • Customer Service Live support and secure messaging responses: Monday–Friday, 5 a.m. to 9 p.m. (PT); Saturday–Sunday, 6:30 a.m. to 5 p.m. (PT): 1-877-825-3242. Account access online or via app 24/7.

Pros Explained

  • Credit cards to help build credit – Credit One’s credit cards are designed for consumers who are rebuilding their credit. You may apply directly with the bank, while some potential customers are targeted through direct mail campaigns based on credit report criteria.
  • Rewards cards earn up to 5% cash back – Many credit cards focused on rebuilding credit are bare bones. However, Credit One offers multiple credit cards that offer cash back rewards and other benefits. Some credit cards offer rewards of up to 5% cash back on your purchases.
  • Minimum credit line of $300 – The bank explicitly states that the minimum credit limit offered is $300 in its terms and conditions. This sets the right expectations for potential customers and ensures that there is credit available after any annual fees are charged.

Cons Explained

  • High interest rates – Because Credit One targets customers with rebuilding credit, the risk of lending to these customers is higher than average. To compensate for this risk, the interest rate charged on its credit cards is higher.
  • Variable annual fees based on creditworthiness (up to $99) – Although Credit One offers one credit card with a guaranteed $0 annual fee, several others are variable based on your creditworthiness. This could lead to a surprise for customers who apply and are unsure of their credit situation.
  • Foreign transaction fees of 3% – All of the Credit One credit cards charge a 3% foreign transaction fee. This fee is levied for those making purchases while traveling internationally or buying from an online store based in another country.

Credit One Bank CD Rates

Credit One Bank High Yield CD Rates
 Terms APY
6 Months 4.30%
12 Months 4.70%
18 Months 4.85%
48 Months 4.40%
60 Months 4.45%
(As of Feb. 14, 2023)

Who Is Credit One Best For?

Credit One is best for consumers who are looking for a credit card to rebuild their credit and want the option to earn rewards on their purchases. Additionally, these customers should be satisfied with their current bank for deposit accounts and lending products, as Credit One does not offer checking, savings, and other deposit accounts, nor does it provide other lending solutions, such as mortgages or home equity loans and lines of credit.

What Does Credit One Offer?

The only product that Credit One offers is consumer credit cards. Its 11 cards are geared toward consumers who are rebuilding their credit. At this time Credit One does not offer business credit cards. Some credit cards offer cash back rewards and bonuses for spending on certain products or up to a maximum dollar amount each year.

Credit cards for rebuilding credit:

Rewards credit cards with bonus offers:

  • Platinum X5 Visa
  • Credit One Bank American Express Card
  • Platinum Rewards Visa With No Annual Fee
  • Platinum Visa

Credit One Customer Service

Customers are able to receive current account information at any time of day or night through the Credit One website, its mobile app, or automated telephone banking. Live customer support is available from 5 a.m. to 9 p.m. PT Monday through Friday at 1-877-825-3242. Weekend support is available from 6:30 a.m. to 5 p.m. PT on Saturday and Sunday.

The Credit One mobile app allows you to schedule payments, check balances and available credit, view your free Experian credit report, and more. It is available in both iOS and Android formats. Third-party reviewers give it high ratings.

How to Bank With Credit One

To apply for a credit card with Credit One, the easiest method is through its website at, where you can respond to a preapproved offer received by mail or check on your application status. You can also see if you’re preapproved for any credit cards without submitting a formal credit report inquiry. If you’re not preapproved, you can submit a formal application for the card of your choice.


Credit One is a credit card lender whose products are geared toward consumers who are rebuilding their credit. Although some credit cards offer rewards, consumers with above-average credit can find more-rewarding credit card options at other banks. The bank does not offer any other deposit or lending products, and none of its products are available for businesses. Keep your existing bank, or look for another one, to meet your deposit account and other lending needs. If you need to rebuild your credit, Credit One is a good place to start. You’ll receive at least a $300 credit line if approved, and none of its credit cards have an annual fee higher than $99. Interest rates are higher than average, which provides an incentive for customers to pay off their balance in full each month to avoid being charged interest on purchases.


Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of banks. We collected over 20 data points across more than 80 banks—including products available, interest rates, fees, and accessibility—to ensure that our content helps users make the right decision for their savings and banking needs.

Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. Credit One Bank. “Disclosures and Terms & Conditions for Credit One Bank's Credit Cards and Credit Protection Program.”