Credit One Bank is one of the leading issuers of Visa credit cards specifically designed for consumers who need to build or rebuild their credit. As a cardholder you get to see your credit score for free each month. Having access to your credit score can help you stay on top of your credit and avoid surprises.
Credit Score Needed
For the Credit One Bank® Platinum Card applicants should have a credit score of 500 or higher for a better chance of approval, although this is not required to apply.
Benefits of the Credit One Bank® Credit Card
Consumers can get pre-qualified or apply for a credit card without affecting their credit score. This is great for consumers trying to rebuild credit as one hard inquiry (credit pull) can take 3-6 points off your credit score. Cardholders can visit the Credit One’s Design My Card lab to choose the look of their credit card.
Credit Score Tracking
Cardholders get access to monthly credit score tracking. The score tracking feature allows you the opportunity to track your credit score with up to 12 months worth of data, including a monthly summary of your credit report and information about the factors that impact your score.
Opportunity to rebuild your credit
Reports to all 3 major credit bureaus and with on-time payments and overall good credit management you have the opportunity to rebuild your credit. When rebuilding credit you should not go crazy applying for more credit. A few credit cards can help you establish a solid credit history. Once your credit scores improve you will be qualified for credit cards with better rewards and no annual fee.
Reports to Major Credit Bureaus
Your payments are reported to all three major credit bureaus, Experian, Equifax and Transunion. With on-time payments you will be on the road to a better credit history and credit score.
Why I Recommend this Card
While this credit card does not offer the best rewards it is one of the few choices among unsecured credit cards to get back on track with your credit. The fact that you can pre-qualify for this card without affecting your credit score is a great feature and important to consumers who are working on their credit history.
Drawbacks of the Card
I do not like that Credit One charges a fee to increase your credit line. Credit One will regularly review your account to offer credit line increases but it will come with a fee if you choose to take the offer. The annual fee ranges from $35-$99 and is billed to you in monthly installments.
- Unlimited 1% back gas rewards
- No limit to the gas rewards you can earn
- Rewards post to your account automatically each month
- Get pre-qualified without affecting your credit score
- Automatic reviews for credit line increase opportunities
- Keep an eye on your credit information with free online monthly credit score tracking
- Choose your card design from our premium gallery
- Email or text alerts to remind you when your payment is due