The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
- Credit One Bank® Platinum Visa® for Rebuilding Credit
Best credit card for prequalifying with bad credit
- NoneRewards Rate
- 28.99% VariableAPR
- $99Annual Fee
- Limited–PoorRecommended Credit
MoneyGeek’s methodology includes collecting credit card information, standardizing data points, analyzing potential cardholder profiles, considering annual and introductory bonuses, establishing the card values and reviewing data monthly to reprocess rankings.
The Credit One Platinum Visa Card for Rebuilding Credit offers unlimited 1% cash back rewards on eligible gas, grocery, mobile phone service, internet service, cable and satellite TV purchases. You can redeem these rewards as a statement credit on your monthly credit card bill.
This card helps people with bad credit scores rebuild their credit. You can see if you pre-qualify for this card by filling out a form on the Credit One Bank website without affecting your credit scores.
Credit One Bank® Platinum Visa® for Rebuilding Credit Overview
Learning more about the rewards structure of the Credit One Platinum Visa Card for Rebuilding Credit can help you understand the reward potential of this card.
- 3% or $1 foreign transaction fee
- Late fee of up to $39
- 1% cash back on eligible gas, grocery and service purchases/subscriptions for satellite TV, mobile phone, cable and internet
Important Card Details
The fine print of the Credit One Platinum Visa Card for Rebuilding Credit will give you an overview of the fees associated with it, such as its APR, annual fee, late payment fee, cash advance fee and foreign transaction fee.
With a variable regular APR of 28.99%, you can accrue a lot of interest with this card if you don’t pay off your balance each month. Also, this card may not offer a grace period for making the minimum payment.
This card has a yearly fee of $75 for the first year. After that, you’ll pay $99 annually, which means that you will have to spend $9,900 in a year just to offset the annual fee with cash back rewards.
Late Payment Fee
If you don’t make your minimum monthly payment before the due date, you can incur a late payment fee of up to $39. This makes it more important to pay off your balance in full before the due date.
Cash Advance Fee
The cash advance fee of this card is 8% of the amount, or $5, whichever is greater.
Foreign Transaction Fee
You’ll pay a foreign transaction fee of 3% of the total amount if you use this card while traveling internationally. If you are a frequent traveler, this card may prove to be expensive.
Looking over other features offered by the Credit One Platinum Visa Card for Rebuilding Credit can help you make a decision about the card.
- Credit Protection Program: In case of job loss or disability, this program prevents your credit score from dropping by covering your card’s minimum payment.
- Account Alerts: You get 24/7 alerts through text, email and phone, which helps keep your account secure from fraudulent activity.
- No Security Deposit: Unlike other credit-building cards, this card does not require a security deposit.
How the Credit One Bank® Platinum Visa® for Rebuilding Credit Compares To Other Cards
While the Credit One Platinum Visa Card for Rebuilding Credit offers an opportunity for people with bad credit scores to rebuild their credit, many other cards are available that are much better than this one in terms of cash back rewards rate.
In-Depth Credit Card Comparisons:
How the Credit One Bank® Platinum Visa® for Rebuilding Credit Compares
Credit One Bank® Platinum Visa® for Rebuilding Credit
- Purchase APR: 28.99% variable
- Annual fee: $75 for first year, then $99
- International transactions fee: 3%
- Cash back rate: 1%
- Best for: People with bad credit scores looking to rebuild their credit
Capital One Quicksilver Cash Rewards Credit Card
- Purchase APR: 19.99% – 29.99% variable
- Annual fee: $0
- International transactions fee: $0
- Cash back rate: 1.5%
- Best for: International travelers and people looking for straightforward cash back reward rates
Frequently Asked Questions
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.