Credit One Bank® Platinum X5 Visa®
vs. Credit One Bank® Platinum Rewards Visa® With No Annual Fee

Updated: June 18, 2024

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Both the Credit One Bank® Platinum X5 Visa® and the Credit One Bank® Platinum Rewards Visa® with No Annual Fee offer enticing cash back rewards, making them attractive options for those seeking to maximize their spending. However, if you're looking for the highest cash back potential, the Credit One Bank Platinum X5 offers 5% cash back on up to $5,000 of eligible purchases, despite its higher annual fee of $95.

On the other hand, the Credit One Platinum Rewards is more accessible with its $0 annual fee and a recommended credit range extending to excellent scores.

Credit Card logo for Credit One Bank® Platinum X5 Visa®
Credit One Bank® Platinum X5 Visa®
Credit Card logo for Credit One Bank® Platinum Rewards Visa® With No Annual Fee
Credit One Bank® Platinum Rewards Visa® With No Annual Fee
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 2% cash back
    Balance Transfer Offer
    -
    -
    Balance Transfer Fee
    -
    -
    Annual Fee
    $95
    $0
    Recommended Credit
    580-740 (Fair to Good)
    670-850 (Good to Excellent)
    Penalty APR
    -
    -
    Not sure?

Which Card Is Better for You?

You might prefer the Credit One Platinum X5 if your spending aligns with the card's reward categories. With 5% cash back on the first $5,000 of eligible purchases each year, this card can maximize returns for those who spend heavily on gas, groceries and services. However, consider the $95 annual fee against the potential rewards.

You might prefer the Credit One Platinum Rewards if you value simplicity and savings. This card offers a straightforward 2% cash back on essential categories like gas and groceries without the burden of an annual fee, making it a cost-effective choice for everyday spending.

Head-to-Head Comparison: Card Details and Features

Evaluating APRs, fees, credit requirements, rewards and additional features side by side clarifies which Credit One Bank card aligns with your financial needs. For example, if annual fees are a concern, the Platinum Rewards stands out with its $0 fee, whereas the Platinum X5 offers higher cash back rewards at a cost. Assess each card's details to pinpoint the one that matches your spending habits and credit situation.

    discount icon

    Regular APR: Tie

    Both the Credit One Platinum X5 and the Credit One Platinum Rewards feature a regular APR of 29.74% variable. There is no difference in terms of regular APR between these two cards.

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    Annual Fee: Credit One Platinum Rewards

    The Credit One Platinum Rewards is better for avoiding annual fees, offering a $0 annual fee compared to the Credit One Platinum X5's $95 annual fee.

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    Introductory 0% APRs: Tie

    Neither the Credit One Platinum X5 nor the Credit One Platinum Rewards offers introductory 0% APRs on purchases or balance transfers, making them equal in this feature.

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    Rewards: Credit One Platinum X5

    The Credit One Platinum X5 is better for rewards, offering 5% cash back on key categories for the first $5,000 spent annually, then 1%, and 1% on all other purchases. The Credit One Platinum Rewards provides 2% cash back on selected categories without caps, but the higher rate on the Platinum X5 for initial spending in those categories offers potentially greater value.

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    Welcome Offers: Tie

    Both the Credit One Platinum X5 and the Credit One Platinum Rewards offer no welcome bonuses, making them equal in this category.

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    Recommended Credit Score: Credit One Platinum X5

    The Credit One Platinum X5 is better for individuals with lower credit scores, accommodating a range from 580 to 740 (fair to good), compared to the Credit One Platinum Rewards' required range of 70 to 850 (good to excellent).

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    Penalties and Fees: Credit One Platinum X5

    The Credit One Platinum X5 is better for penalties and fees, primarily because it does not charge foreign transaction fees, unlike the Credit One Platinum Rewards. Both cards impose a late fee of up to $39 and a cash advance fee of either $10 or 5% of the amount of each cash advance, whichever is greater. Neither card has a penalty APR.

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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 such as free online credit score and report summaries, $0 fraud liability and mobile app management.

Rewards Comparison

The Credit One Platinum X5 stands out with 5% cash back on select categories for the first $5,000 spent annually, then 1% thereafter. This can be quite rewarding for those who spend heavily in these areas. However, the $95 annual fee reduces the net reward value, which is an important factor to consider.

On the other hand, the Credit One Platinum Rewards offers a consistent 2% cash back on similar categories, making it appealing to those who prefer simplicity and guaranteed savings. While it may not offer the same rewards rate, it doesn't charge an annual fee, which could be more beneficial for moderate spenders.

The table below outlines the bonus categories for each card to help you compare at a glance.

Category
Credit One Platinum X5
Credit One Platinum Rewards

Gas

5% for the first $5,000 annually/1% thereafter

2%

Grocery

5% for the first $5,000 annually/1% thereafter

2%

Mobile Phone Service

5% for the first $5,000 annually/1% thereafter

2%

Internet

5% for the first $5,000 annually/1% thereafter

2%

Cable

5% for the first $5,000 annually/1% thereafter

2%

Redeeming Rewards

Both the Credit One Platinum X5 and Credit One Platinum Rewards allow redemption exclusively as a statement credit. Rewards for both cards have no expiration date as long as your account is active.

Methodology

Using a tailored scoring system, MoneyGeek evaluates credit cards like the Credit One Platinum X5 and Credit One Platinum Rewards. These cards have the highest scores in the cash back category.

The evaluation considers factors such as the value of cash back rewards and the benefits of promotional offers. Four major components influence each card's score: the effective rate of cash back rewards, the annual fee, customer satisfaction and the cost of penalties. For a deeper understanding of our process, you can read about our ranking methodology.

FAQ: Credit One Platinum X5 vs. Credit One Platinum Rewards

What are the annual fees for each card?
How do the cash back rewards compare between the two cards?
What is the recommended credit score for each card?
Are there foreign transaction fees for either card?
Can I choose my payment due date with either card?

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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