Credit One Bank® Platinum Visa® for Rebuilding Credit Review
Updated: September 10, 2024
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Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
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.
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.
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.
Regular APR
With a variable regular APR of 29.74%, 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.
Annual Fee
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.
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.
Credit One Bank® Platinum Visa® for Rebuilding Credit
Capital One Quicksilver Cash Rewards Credit Card
You can get approved for this card even if you have bad credit scores, which are generally below 670.
Yes, Credit One Bank reports to all three credit bureaus.
Generally, Credit One Bank would need your legal name, birth date, address, Social Security number and annual income.
Yes, the customers of Credit One Bank consider the guidance provided by its customer service agents quite satisfactory.
Yes, Credit One Bank has a mobile app that can be used to manage your account online.
Credit One reviews your credit limit every few months and may raise your limit automatically in some cases.
Yes, Credit One Bank offers many different features to keep your account secure.
Yes, Credit One Bank offers Credit One Bank® Platinum X5 Visa®, Platinum Rewards Visa with No Annual Fee and many other cards.
About Doug Milnes, CFA
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.
