Credit One Bank American Express Card Review

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6.2
Expert ScoreRead review

The Credit One Bank American Express offers unlimited 1% cashback rewards on all purchases, Regular APR 29.74% Variable, and $39 Annual Fee. While there is no Balance Transfers Intro APR and no Purchases Intro APR. Credit One Bank Amex Card also provides Initial Credit Limit starting from $500.

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You might have been thinking about having a Credit One Bank American Express Card. wait for a while! Is it the right fit for you? Understanding this particular credit card’s offerings can be crucial in making an informed decision. The Credit One Bank American Express Card is a solid option for people who want to build their credit and don’t want to carry a balance, with relatively low annual fees and impressive cardholder perks. This review takes a closer look at the features, benefits, costs, and user experiences associated with the Credit One Bank American Express Card.

Quick Highlights

  • Unlimited 1% cash back rewards on all purchases.
  • $0 Fraud Liability for unauthorized charges.
  • Retail Protection for accidentally damaged or stolen items
  • Access to exclusive deals through Amex Offers.
  • Pre-sale tickets for nationwide concerts and events.
  • Travel Accident Insurance coverage.
  • Special offer for Covered Borrowers under the Military Lending Act.
  • Terms Apply

What Is the American Express Card Issued by Credit One Bank?

The Credit One Bank American Express Card is a flexible credit card option designed to provide to a broad range of users, from those with excellent to those with limited or no credit history. It merges the reputation of American Express with the accessibility of Credit One Bank, targeting individuals looking to manage their finances effectively. Are you looking for a credit card that elevates your daily spending without the hefty annual fees? Consider the Credit One Bank American Express Card with unlimited 1% cash back. Earn rewards on every purchase, big or small, with no pesky categories to track. Retail Protection Breathe easy, knowing eligible purchases are covered against accidental damage or theft for 90 days. Amex Offers exclusive discounts and deals from popular brands, adding extra zing to your shopping sprees. Enjoy peace of mind with auto rental insurance and emergency assistance while exploring the world.

Credit One Bank American Express Credit Card Benefits

Credit One Bank American Express Card users can look forward to bonus offers available through Amex Offers, enhancing their shopping, travel, and dining experiences.

  • Cash Back Rewards Rate: Earn unlimited 1% cash back on all purchases, simplifying the rewards system. You can redeem these rewards as statement credit.

Additional Perks:

Free online credit score access, comprehensive insurance policies for travelers and car renters, purchase protection, extended warranty, and return protection.

  • Free online credit score and credit report summary: Access your credit score online monthly to monitor your credit health and progress.
  • Car rental loss and damage insurance: You can get paid back for damages to your rental car caused by theft or collision.
  • Travel accident insurance: You’re insured in case of accidental death when you travel on a common carrier like an airplane, bus, or train. You’re guaranteed up to $150,000 when the entire fare is charged to your card.
  • Purchase protection: If something you bought with the card is damaged or stolen within 90 days of the purchase date, you can get Payback up to the total purchase price of your item for a maximum of $1,000 per claim.
  • Extended warranty protection: You can double your manufacturer’s warranty up to one additional year on eligible warranties. For example, if you bought something with a warranty of three months, the Credit One Bank American Express Card would get you an additional three months of coverage on top of that.
  • Return protection: If you’re disappointed in an item you purchased, but a retailer won’t accept a return, you can file a claim within 90 days to pay back the purchase price (up to $300 per item and up to a maximum of $1,000 per year).

Rates and Fees

  • Annual Fee: $39 is relatively low compared to some competitors.
  • Foreign Transaction Fee: 3% or $1, whichever is greater
  • Cash Advance Fee: $5 or 8%, whichever is greater, when you need immediate cash.
  • Regular APR: While variable, expect rates such as a 29.74% cash advance APR, which suggests that carrying a balance could be costly.
  • Late Fee: Up to $39, reinforcing the importance of timely payments.
  • Returned Payment Fee: Up to $39 (terms apply)
  • Penalty APR :None
  • Initial Credit Limit: Starting at $500
  • Security Deposit Required: $0
  • Membership Charges Per Year ($3,600 annual spend): $3 ($36 in cash back rewards minus $39 annual fee)

Credit One Bank American Express Credit Card Application and Approval Process

Eligibility requirements: include varying credit levels, from excellent to secured, indicating flexibility in acceptance. The Credit One Bank login portal and the official website provide avenues to apply for a Credit One Bank card. Pre-approval options are available to assess your qualifications without impacting your credit score substantially.

  • Eligibility parameters such as a minimum age requirement of 18 years.
  • The recommended credit score on the FICO scale for approval is fair to good, which falls between 580 and 740.
  • Minimum income requirement: There is no official minimum salary requirement, but minimum amount can be 300$.

Contact/Support

  • Helpline Number: For detailed inquiries and customer support, you can dial (877) 825-3242
  • Fax Number: Provided for document submission and correspondence outside U.S. (702) 405-2042.
  • Official Website: Credit One Bank

Conclusion

The Credit One Bank American Express Card may cater to different needs, from rebuilding credit to accruing simple cashback rewards. Although it offers exclusive access to Amex offers and a suite of protection benefits, users should weigh these benefits against the costs associated with higher interest rates and a lower rewards yield. However, if managed responsibly, this card can serve as an effective tool in managing finances and building credit. Additionally, the availability of pre-approval options and flexible eligibility requirements make it a viable option for those looking to establish or improve their credit score. So, take a closer look at the features, benefits, rates, and fees associated with Credit One Bank American Express.

WhatCard Other Recommendations for Amex Credit Card:

Frequently asked Question (FAQs) Credit One Bank American Express Card

  • The card could be worth considering for those seeking a straightforward cashback program combined with American Express perks at a low annual fee.
  • The card is a stepping-stone to better credit and a more lucrative rewards credit card.
  • Use it for day-to-day purchases to earn cashback rewards and for booking travel to benefit from its comprehensive insurance policies.
  • Check if you pre-qualify online before you apply.
  • Use the card for everyday expenses to get cash back and offset the card’s annual Fee.
  • If you’re offered the minimum credit limit of $500, watch your spending to keep your credit utilization in check.
  • Pay off your purchases in full each month to avoid the card’s high APR.
  • Take advantage of Amex Offers to get discounts on everyday spending.
6.2Expert Score
Credit Building Rating
The Credit One Bank American Express offers unlimited 1% cashback rewards on all purchases, Regular APR 29.74% Variable, and $39 Annual Fee. While there is no Balance Transfers Intro APR and no Purchases Intro APR. Credit One Bank Amex Card also provides Initial Credit Limit starting from $500.
Cost of Membership
7
Ease of Building Credit
6.8
APR
2.7
Features
8.1
PROS
  • A relatively low annual fee that doesn't break the bank.
  • Unlimited 1% cash back rate on all purchases.
  • The simplicity of the cashback rewards program.
  • Additional benefits that come with using an American Express card.
  • Flat-rate rewards on all purchases and exclusive benefits as an American Express-branded card make it easier to recoup the annual Fee.
  • There are fewer card term restrictions, rates, and fees than other Credit One cards for less-than-perfect credit.
CONS
  • Cashback rates are lower compared to some other cards in the market.
  • Rewards have limited redemption options.
  • Higher APR rates signal potential high costs for carrying a balance
  • $39 annual fee.

Specification: Credit One Bank American Express Card Review

Best For:

Credit Building

Intro Offer:

No Current Offer

Rewards

Unlimited 1% cash back rewards on all purchase

Annual Fee:

$39

Regular APR:

29.74% Variable

Intro Balance Transfers APR:

N/A

Intro Purchase APR:

N/A

Intro Purchase APR Period:

N/A

Balance Transfers Fee:

$0 or $5 or 3% of the transferred amount

Foreign Transaction Fee

3% or $1, whichever is greater

Cash Advance Fee

$5 or 8% of Cash Advance

Late Payment Fee:

$39

Cash Equivalent Fee

N/A

Convenience Check Fee

N/A

Returned Payment Fee:

Up to $39

Over Limit Fee:

No Over Limit Fee

ExtendPay Fee

$39 conditions apply

Credit Card Limit:

$500 to $5000

Credit Card Type

Cash Back

Credit Card Features

Auto Rental Insurance, Cash Back, Extended warranty protection, Price Protection, Purchase Protection, Return protection, Travel Accident Insurance

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