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- Credit One Bank® Platinum X5 Visa®
A great card to maximize cash back rewards
- 1%–10% Cash Back*Rewards Rate
- 28.99% VariableAPR
- $95Annual Fee
- Fair–ExcellentRecommended Credit
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The highlight of this card is the rewards feature. There are not many cards in the market that provide similar rewards as this one for those who have a mediocre credit score. It also offers annual cash back bonuses for purchases made in eligible categories, such as gas, groceries, mobile phone service, internet, cable and satellite TV services.
Credit One Bank® Platinum X5 Visa® Overview
The Credit One Bank® Platinum X5 Visa® card provides reasonable benefits when stacked up against similar cards in its category. One of the drawbacks is the low cap on the rewards that you earn.
While the card offers a lucrative 5% cash back for purchases across several categories, this is offset by the low cap of $5,000 per year, after which you’ll get 1% cash back.
In addition, you must keep in mind that not all grocery and gas purchases will be eligible for the 5% cash back. For example, purchases at warehouses like Costco will not be eligible for cash back, nor will groceries bought from convenience or drugstores.
- Earn 5% cash back on spending of up to $5,000 on eligible gas, grocery, internet, cable, satellite TV and mobile phone service payments each year.
- Earn 1% unlimited cash back going forward.
- Earn up to 10% cash back rewards when shopping through participating merchants.
Important Card Details
While the 5% cash back on select categories can fetch you as much as $250 in statement credits, you must also keep in mind the terms and conditions of the cash back offers.
This card comes with an annual fee of $95.
Although the card offers 5% cash back on purchases made in select categories, you must keep in mind the fine print, as there is a limit of $5,000 in purchases for the 5% rate.
Regular APR & Cash Advance APR
The Credit One Bank® Platinum X5 Visa® card offers a considerably high regular APR of 28.99% for purchases and cash advances. This card also charges a cash advance fee of 5% or $10, whichever is greater.
Late Payment Fees
If you do not make monthly payments on time, you will be charged a late fee of up to $39. This fee is in addition to the interest that will be charged on the outstanding amount.
Foreign Transaction Fee
This card charges 3% or $1 (whichever is greater) on every international transaction.
In addition to the lucrative 5% cash back on select categories, the Credit One Bank® Platinum X5 Visa® card offers other benefits as well.
- Fraud protection: This card provides complete protection against unauthorized charges if you lose your card.
- Free access to Experian credit score: You can supervise and track your credit health progress with free access to your Experian credit score. You can also check other details that go into your credit report.
- Earn extra cash back: The Credit One More Cash Back Rewards program helps you save money when you link your credit card to affiliated online portals and buy through them. These deals can earn up to an extra 10% in cash back rewards.
How the Credit One Bank® Platinum X5 Visa® Compares To Other Cards
While the Credit One Bank® Platinum X5 Visa® card does offer cash back benefits, there are other cards in the market that do not cap these rewards. We compared this card to others in the same category to help you make an informed choice.
How the Credit One Bank® Platinum X5 Visa® Compares
Credit One Bank® Platinum X5 Visa®
- Annual fee: $95
- Cash back earning rate: 5% on select categories up to $5,000 per year, 1% otherwise
- Intro APR offer: No
- Sign-up bonus: No
- Mini verdict: Best for those with average credit looking for cash back rewards
Chase Freedom Flex℠
- Annual fee: $0
- Cash back earning rate: 5% on select categories up to $6,000 per year, 3% on dining and drugstores, 1% otherwise
- Intro APR offer: Yes
- Sign-up bonus: $200 cash back bonus after making $500 on purchases in the first 3 months
- Mini verdict: Best for those with a good credit rating seeking cash back rewards
Frequently Asked Questions
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