Credit One Bank Platinum Rewards Visa Review

Credit One Bank Platinum Rewards Visa Review

Earn 2% cash back on everyday essentials. You can build credit with Credit One Bank Platinum Rewards Visa. You can access a free credit score without an annual fee. Cardholders can earn 5% cash back on the first $5,000 annual purchase.

With a monthly spend of $1,325, users can make about $155 in cash back over the year. The Credit One Bank Platinum Rewards Visa offers attractive earning rewards without an annual fee. The card targets a broad audience, from those with excellent credit to individuals working on building or repairing their credit history. With a competitive APR and simple rewards structure, this card is worth getting for those searching for a credit card with no annual fee.

Here’s the breakdown of the credit card quick key points:

Quick Highlights

• No current intro offer, $0 fraud Liability, 74% variable APR, and no annual fee.
• Cash advance fee of 5% or $10, late or returned payment fee up to $39, and no security deposit required.
• 2% cash back rewards on eligible gas and grocery purchases and mobile phone, internet, cable, and TV services.

Rewards and Benefits

• There is no annual fee, so you keep all your rewards.
• Free Experian credit score access to monitor your credit health.
• Zero fraud liability protects you from unauthorized charges.
• 2% cash back on gas, groceries, internet, cable/satellite TV, and mobile phone services.
• Automatically get up to 10% more Cash Back Rewards from participating merchants.
• There is no limit on the amount of cash back you can earn.
• Eligibility for an increased credit limit after responsible use.
• Sign-up Bonus: None
• Average Yearly Rewards Value: With a monthly spend of roughly $1,325, users can expect to earn about $155 in cash back over the year.
• APR: The variable APR stands at 29.74%, which is pretty high compared to other cards in the market.
• Credit Range: The card is accessible to a broad range of credit scores, from excellent to limited or no credit history.

Additional perks include zero fraud liability, the option to pick your payment due date, a free online credit score and credit report, and exclusive shopping discounts.

Features: Credit One Bank Platinum Rewards Visa Card

Many cardholders forget about these perks, but taking advantage of all the card’s benefits will maximize its value. Here’s a quick look at what the card has to offer:

• Free online credit score and credit report summary:  Keep an eye on your credit with one free Experian report per month (terms apply).
• Customizable residual notifications: Set your reminders and alerts so you don’t miss payments.
• Regular reviews for credit increases: Demonstrate responsible card use, and your credit limit may increase over time.
• Exclusive shopping discounts: Cardholders can earn extra cash back at select retailers.

Rates and Fee

• Annual fee: None
• Foreign transaction fee: $1 or 3% of each purchase in U.S. dollars, whichever is greater.
• Cash advance fee: either $10 or 5% of the amount of each cash advance, whichever is greater.
• Late payment fee: up to $39.
• Returned payment fee: up to $39.
• Other:
• APR: Varies depending on your creditworthiness but can be as high as 29.74%
• PuEditse APR: 29.74%
• Cash Advance APR: 29.74%
• Minimum Interest: If you are charged interest, the charge will be no less than $1.00.
• Security deposit: This may be required depending on your creditworthiness.
• Minimum credit limit: $300. 
• Credit protection (optional): $.96 per $100 of new balance.

How to Apply for Credit One Bank Platinum Rewards Visa

Eligibility:

• Credit One Bank does not disclose specific income requirements, but having a steady income will improve your chances of approval.
• A credit score of average-excellent (670+) is required.
• Must be at least 18 years old.
• Must have a valid SSN or ITIN.
• Must be a US citizen or permanent resident.

Application Process:

• Visit the Credit One Bank website: You can submit your application online at Credit One Platinum Visa Card.
• Fill out the application form: You must provide personal information, including your name, address, Social Security number, employment information, and income.
• Review and apply: Carefully review the information you entered and apply.

Approval Process:

• Credit One Bank will perform a credit check to assess your eligibility.
• The bank may also consider other factors, such as your income and employment history.
• You will typically receive a decision within a few minutes of submitting your application.
• If approved, you will receive your credit card in the mail within 7-10 business days.

Customer service:

• Customer service: 1-877-825-3242.
• Website: Credit One bank

Conclusion

The Credit One Bank Platinum Rewards Visa with No Annual Fee card is a mixed bag. It brings respectable rewards without paying any annual fee. You can use it as a credit management tool. The absence of a sign-up bonus and the high APR are attractive benefits.

The card gives 2% cash back on purchases, which makes the card suitable for people building credit. But watch out! The interest rate is high, and there are fees for transferring balances, using it abroad, and more. If you often carry a balance, travel a lot, or want rewards on more things, other cards without annual fees might be better. Ultimately, choose the card that fits your spending habits and credit score.

WhatCard recommended credit Cards: Blue Cash Preferred Card from American Express Review.