Credit One Bank® Platinum X5 Visa®
vs. Credit One Bank American Express® Card

Updated: June 28, 2024

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Both the Credit One Bank® Platinum X5 Visa® and the Credit One Bank American Express® Card offer enticing cash back rewards for individuals with fair to good credit. However, the Credit One Platinum X5 edges ahead with its higher cash back rate of 5% on eligible categories, making it the superior choice for maximizing rewards. Despite its higher annual fee, the card's rewards potential justifies the cost for those who frequently spend in its bonus categories.

On the other hand, the Credit One Amex's unlimited 1% cash back on all purchases and access to Amex Offers still make it a solid option, especially for those who value simplicity and the American Express network benefits.

Credit Card logo for Credit One Bank® Platinum X5 Visa®
Credit One Bank® Platinum X5 Visa®
Credit Card logo for Credit One Bank American Express® Card
Credit One Bank American Express® Card
MoneyGeek Rating
3.6/ of 5
MoneyGeek Rating
3.6/ of 5

  • Regular APR
    29.74% variable
    29.74% variable
    0% APR Offer
    -
    -
    Intro Offer
    No current offer
    No current offer
    Rewards Summary
    Earn up to 5% cash back
    Earn 1% cash back
    Balance Transfer Offer
    -
    -
    Balance Transfer Fee
    -
    -
    Annual Fee
    $95
    $39
    Recommended Credit
    580-740 (Fair to Good)
    580-740 (Fair to Good)
    Penalty APR
    -
    -
    Not sure?

Which Card Is Better for You?

You might prefer the Credit One Platinum X5 if you're a heavy spender in categories like gas, groceries and utilities. This card maximizes rewards in these areas with 5% cash back on up to $5,000 of eligible purchases per year. Additionally, the flexibility to choose your payment due date and access to a free credit score can help you manage finances more effectively.

You might prefer the Credit One Amex if you're looking for a card with valuable perks and a lower annual fee. This card offers unlimited 1% cash back on all purchases and exclusive access to Amex Offers, which can lead to significant savings on shopping, dining and entertainment. Event enthusiasts can also benefit from Amex's presale ticket access.

Head-to-Head Comparison: Card Details and Features

Evaluating APRs, fees, credit requirements, rewards and additional features will help you determine which card aligns with your financial needs. The Credit One Platinum X5 and the Credit One Amex offer distinct advantages, whether you prioritize higher cash back rates or a lower annual fee. Specifics like the Credit One Amex's access to Amex Offers vs. the Platinum X5's customizable due date could sway your choice.

    discount icon

    Regular APR: Tie

    Both the Credit One Platinum X5 and the Credit One Amex offer a regular APR of 29.74% variable, making this feature a tie between the two cards.

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    Annual Fee: Credit One Amex

    The Credit One Amex is better for those looking to save on annual fees, with its lower fee of $39 compared to the Credit One Platinum X5's $95.

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    Introductory 0% APRs: Tie

    Neither the Credit One Platinum X5 nor the Credit One Amex offers introductory 0% APRs. Consider exploring the best cards with 0% APRs for other options with introductory APR offers.

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    Rewards: Credit One Platinum X5

    The Credit One Platinum X5 outperforms the Credit One Amex in rewards, offering 5% cash back on the first $5,000 of eligible purchases in key categories each year, then 1%, compared to a flat 1% on all purchases with the Credit One Amex card. Both cards allow you to redeem cash back as a statement credit.

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    Welcome Offers: Tie

    Neither the Credit One Platinum X5 nor the Credit One Amex offers a welcome bonus, making this feature a tie between the two cards.

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    Recommended Credit Score: Tie

    Both the Credit One Platinum X5 and the Credit One Amex have a recommended credit score range of 580 to 740, catering to individuals with fair to good credit. This makes them equally accessible in terms of credit requirements.

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    Penalties and Fees: Credit One Platinum X5

    Both cards charge up to $39 for late payments. However, the Credit One Platinum X5 stands out for having no foreign transaction fees, making it the better choice for penalties and fees.

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    Issuer Satisfaction: Tie

    Since both cards are from Credit One Bank, they have the same issuer satisfaction score.

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    Other Features & Perks: Tie

    Both cards offer unique perks. The Credit One Platinum X5 offers Zero Fraud Liability, a free online credit score and credit report summary. The Credit One Amex provides $0 Fraud Liability, retail protection and travel accident insurance. Choosing the best card depends on which perks align more closely with your lifestyle and financial habits.

Rewards Comparison

The Credit One Platinum X5 stands out with its 5% cash back in key spending categories, making it a strong contender for those who spend heavily on gas, groceries and utilities. With a cap of $5,000 per year for these elevated rewards, it's tailored for high-spenders in these areas. After reaching the cap, the rewards rate drops to 1%.

Credit One Amex offers a consistent rate of 1% on all purchases. While the card doesn't provide the same high rewards rate, its simplicity and lack of caps may appeal to those who prefer a straightforward rewards program without having to track category spending.

The following table compares the bonus categories for each card, allowing you to easily see where you can earn more with your spending.

Category
Credit One Platinum X5
Credit One Amex

Gas

5% for the first $5,000 annually, then 1%

1%

Grocery

5% for the first $5,000 annually, then 1%

1%

Internet, Cable, Satellite TV and Mobile Phone Services

5% for the first $5,000 annually, then 1%

1%

All Other Purchases

1%

1%

Redeeming Rewards

The Credit One Platinum X5 allows cardholders to redeem cash back exclusively as a statement credit.

The Credit One Amex also automatically applies cash back rewards as a statement credit, simplifying the redemption process.

Neither card imposes an expiration date on rewards, provided the account remains open and in good standing. This ensures that cardholders have the flexibility to use their rewards when they are ready.

Methodology

MoneyGeek evaluates credit cards like the Credit One Platinum X5 and Credit One Amex using a tailored scoring system for various use cases, such as cash back. In this comparison, we focus on the use case where each card performs best: cash back. The largest factors influencing their cash back scores are the effective reward rate and the return on investment for offers. For a deeper understanding of our scoring process, you can explore our ranking methodology.

FAQ: Credit One Platinum X5 vs. Credit One Amex

What are the annual fees for each card?
How do the cash back rewards work for each card?
What is the regular APR for both cards?
Are there any introductory offers for either card?
Which card is better for someone with fair credit?

About Doug Milnes, CFA


Doug Milnes, CFA headshot

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.


*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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