Credit One Bank American Express Card Review

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% cashback 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.

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 cashback 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 the 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:

• American Express Blue Business Cash  Card