How Does LendingTree Get Paid?
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
|
Advertising Disclosure
LendingTree is an advertising-supported comparison service. The site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products. We are compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order).

Advertising Disclosure

LendingTree is an advertising-supported comparison service. The site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products. We are compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order).
|
American Express Disclosure
Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

American Express Disclosure

Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

Credit One Bank American Express Card Review

Updated on:
Content was accurate at the time of publication.
LendingTree's Review

How LendingTree Rates Credit Cards?

Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.
2.5
Credit One Bank American Express Card
Rewards rate
Unlimited 1% cash back rewards on every purchase
Credit-building
Reports to the major credit bureaus
Annual fee
$39
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It was not reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
The information related to the Credit One Bank American Express Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
Citi is an advertising partner.

Key Takeaway

The Credit One Bank American Express Card is a solid cash back card if you’re looking to build credit. But if you already have good or excellent credit, you can find better cards with higher cash back rates on general purchases and no annual fees.

Pros and cons

  • No security deposit required
  • Reports to major credit bureaus
  • Earns cash back on every purchase
  • Purchase protection
  • Free credit score access
  • Access to special offers and discounts
  • Low earning rate in popular spending categories
  • No sign-up bonus
  • $39 annual fee
  • High interest rate
  • Penalty fees
  • No guaranteed reviews to increase your credit line
  • Foreign transaction fees

Is the Credit One Bank American Express Card worth it?

If you’re looking for a card to help you build credit while earning cash back rewards, the Credit One Bank American Express Card is a good option. That’s because — along with accepting applicants with fair / good / excellent credit — the card offers unlimited 1% cash back rewards on all purchases. Plus, it provides access to some valuable benefits, like purchase protection and Amex Offers.

Unlike many credit-building cards, the Credit One Bank American Express Card doesn’t require a security deposit — but it does charge a $39 annual fee.

How much does it cost to own? If you spend $3,600 on the card in a year, you’ll earn $36 back. If you subtract that amount from the $39 annual fee — the card will essentially cost you $3 versus $1.95 for the average credit-building card.

Quick facts

    • Ability to earn unlimited 1% cash back rewards on every purchase
    • No security deposit required
    • Access to special benefits and American Express Offers

  • Recommended Credit
    Credit scores ranges may vary. Your individual chance at approval may vary due to factors such as creditors using a particular variation at their discretion
  • 600 660 720 850
    Fair / Good / Excellent
  • Free online access to your credit score
  • Access to a mobile app
  • Ability to choose a new payment due date
  • Customizable account notifications

Intro Purchase APR

N/A

Regular Purchase APR

29.74% Variable

Intro BT APR

N/A

Regular BT APR

N/A

Annual Fee

$39

Cash Advance Fee

Either $5 or 8% of the amount of each Cash Advance, whichever is greater.

Foreign Transaction Fee

Either $1 or 3% of each purchase in U.S. dollars, whichever is greater

Balance Transfer Fee

N/A

What we like about the Credit One Bank American Express Card

  • No security deposit required

    Some of the best cards for building credit are secured credit cards — which typically require an upfront, refundable security deposit of at least $200. This deposit will serve as your line of credit.

    By contrast, the Credit One Bank American Express Card provides a minimum credit line of $300 without charging a security deposit.

  • Reports to major credit bureaus

    Since this card reports your account activity to the three major credit bureaus — Equifax, Experian and TransUnion — you can build positive credit history by using it responsibly. This includes paying your bill on time each month and only using 30% or less of your line of credit.

  • Earns cash back on every purchase

    The Credit One Bank American Express Card lets you earn unlimited 1% cash back rewards on all purchases. Compared to other cards available to those with fair credit, this is a good cash back rate.

    There are cards available — like the Wells Fargo Active Cash® Card — that offer a flat rate of up to 2% cash back on every purchase. Just know, this card will require good / excellent credit for approval.

  • Purchase protection

    The Credit One Bank American Express Card provides retail protection, which is rare for a credit-building card. This benefit provides coverage if an eligible item is damaged or stolen within the first 90 days of purchase. You can be reimbursed up to $1,000 per loss, up to a total of $50,000 per card member every 12 months.

  • Free credit score access

    The Credit One Bank American Express Card gives you free access to your credit score — which allows you to see how your score changes over time.

    Plus, you can view a summary of your credit report each month. This can help you keep track of your existing debt and identify any errors in your report.

  • Access to special offers through American Express

    Because this card is issued by American Express, you’ll get access to exclusive offers and savings for dining, retail, travel and more. This includes presale tickets for concerts and sporting events and special discounts at participating merchants.

What to look out for with the Credit One Bank American Express Card

  • Mediocre earning rate

    Although this is one of the few credit cards available to those with fair credit that offers rewards, it is still possible to find one with a slightly higher earning rate. For example, the Capital One QuicksilverOne Cash Rewards Credit Card lets you earn 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply).

  • No sign-up bonus

    While most cash back cards let you earn a lump sum of rewards upfront when you sign up and spend a specified amount on the card within a given timeframe, the Credit One Bank American Express Card doesn’t. This can significantly cut into your earning potential during the first year of card membership.

  • Annual fee

    This card charges a $39 annual fee. To earn enough rewards to cover that amount, you’ll need to make at least $3,900 in purchases on your card each year.

    If you don’t want to commit to paying an annual fee, you should know that there are several $0-annual-fee cards that offer higher cash back rates than the Credit One Bank American Express Card.

  • High interest rate

    If you plan to carry a balance on your card from month to month, be aware that the Credit One Bank American Express Card comes with a high APR of 29.74% Variable. Still, that’s pretty on par for credit cards designed for those with fair credit.

    If you have good to excellent credit, there are a number of no-annual-fee cash back cards that offer 0% intro APRs on purchases for a year or longer. Once the intro period ends, they also offer lower starting APRs than the Credit One Bank American Express Card. For example, the Capital One Quicksilver Cash Rewards Credit Card (which may be an option if you have good / excellent credit), offers a 0% intro on purchases for 15 months. After that, a 19.99% - 29.99% (Variable) APR applies (see rates & fees).

  • Penalty fees

    This card has a late payment fee of up to $39 and a returned payment fee of up to $39. If you’re interested in a card that doesn’t charge these fees, you may be better off with the Petal® 2 Cash Back, No Fees Visa® Credit Card.

    That said, when trying to build credit, it’s extremely important to pay your bill on time every month. In fact, your payment history is the most important factor determining your credit score. As such, having late payments on your credit report can have a significant negative impact on your credit score.

  • Doesn't have guaranteed reviews for credit line increases

    The Credit One Bank American Express Card has a low starting credit line of $300 with no guaranteed account reviews to increase your line of credit.

    In contrast, with the Capital One QuicksilverOne Cash Rewards Credit Card, Capital One will automatically begin reviewing your account at six months to see if you qualify for a higher credit line. Similarly, with the Merrick Bank Double Your Line® Mastercard®, Merrick Bank will review your account activity and automatically double your line of credit if you’ve made at least your minimum monthly payment on time each month.

  • Foreign transaction fees

    If you use the Credit One Bank American Express Card to make purchases outside the U.S., you’ll be subject to foreign transaction fees of either $1 or 3% of each purchase in U.S. dollars, whichever is greater.

    If you’re planning a trip abroad, you’d be better off taking a credit card that doesn’t charge foreign transaction fees.

Alternate cash back cards

Credit One Bank American Express Card vs. Capital One QuicksilverOne Cash Rewards Credit Card

| Disclosures
Capital One QuicksilverOne Cash Rewards Credit Card
Capital One QuicksilverOne Cash Rewards Credit Card
apply-now-icon Apply Now
on Capital One's secure site
Rates & Fees
N/A
29.99% (Variable)
$39
1.5% Cash Back on every purchase, every day; 5% Cash Back on
  • Earn unlimited 1.5% cash back on every purchase, every day
  • No rotating categories or limits to how much you can earn, and cash back doesn't expire for the life of the account. It's that simple
  • Be automatically considered for a higher credit line in as little as 6 months
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • Help strengthen your credit for the future with responsible card use
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
  • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you're all set
  • For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
600 660
Limited / Fair

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

If you want to earn a higher cash back rate from a card that may accept applicants with limited / fair credit, the Capital One QuicksilverOne Cash Rewards Credit Card is a good alternative. You’ll get 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply).

Similar to the Credit One Bank American Express Card, the Capital One QuicksilverOne Cash Rewards Credit Card doesn’t offer a sign-up bonus or intro APR offer on purchases or balance transfers. The card also charges a $39 annual fee and has an APR of 29.99% (Variable) (see rates & fees).

That said, Capital One will automatically begin reviewing your account to see if you qualify for a higher credit line in as little as six months. Plus, you’ll get free access to your credit score and other credit-monitoring tools — and as for foreign transaction fees, there are none (see rates & fees).

Credit One Bank American Express Card vs. Citi Double Cash® Card

| Disclosures
Citi Double Cash® Card
Citi Double Cash® Card
apply-now-icon Apply Now
on Citibank's secure site
Rates & Fees
N/A
18.74% - 28.74% (Variable)
$0
Earn 2% on every purchase with unlimited 1% cash back when you
  • Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.74% - 28.74%, based on your creditworthiness.
  • Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
600 660 720 850
Fair / Good / Excellent

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

If you have fair / good / excellent credit, the Citi Double Cash® Card may be a better fit. The card has a $0 annual fee and lets you earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25.

In addition, earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.

Like the Credit One Bank American Express® Card, the Citi Double Cash® Card doesn’t provide an interest-free period on purchases. It does, however, offer an intro APR of 0% intro APR for 18 months on Balance Transfers. After that, a 18.74% - 28.74% (Variable) applies.

And although it comes with a $0 annual fee, it does charge foreign transaction fees.

Credit One Bank American Express Card vs. Wells Fargo Active Cash® Card

| Disclosures
Wells Fargo Active Cash® Card*
Wells Fargo Active Cash® Card
0% intro APR for 12 months from account opening
19.74%, 24.74%, or 29.74% Variable APR
$0
Earn unlimited 2% cash rewards on purchases
  • Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
  • Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
  • Earn unlimited 2% cash rewards on purchases.
  • 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.74%, 24.74%, or 29.74% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
  • $0 annual fee.
  • No categories to track or remember and cash rewards don’t expire as long as your account remains open.
  • Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
  • Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
660 720 850
Good / Excellent
*The information related to the Wells Fargo Active Cash® Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

If you have good / excellent credit, the Wells Fargo Active Cash® Card is an even better alternative. This card lets you earn unlimited 2% cash rewards on purchases. Plus, you can earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. Note, that’s a much lower spend threshold than what the Citi Double Cash® Card requires to earn the bonus.

The Wells Fargo Active Cash® Card also gets you a 0% intro APR for 12 months from account opening, then a 19.74%, 24.74%, or 29.74% Variable APR. There’s also a 0% intro APR for 12 months from account opening on qualifying balance transfers, then a 19.74%, 24.74%, or 29.74% Variable APR.

Like the Citi Double Cash® Card this card has a $0 annual fee, but charges foreign transaction fees.

Is the Credit One Bank American Express Card right for you?

If you have fair credit, the Credit One Bank American Express Card is a good option to help build your credit while also providing rewards on every purchase you make. The Capital One QuicksilverOne Cash Rewards Credit Card (see rates & fees) works if you have limited / fair credit and want higher cash back rates and automatic account review — but if you want a card with an even higher cash back rate, $0 annual fee and intro APR on balance transfers, the Citi Double Cash® Card is a better choice. And if your credit is in the good / excellent range, consider the Wells Fargo Active Cash® Card.

Learn More
on Credit One Bank's secure site
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

The information related to the Credit One Bank American Express Card, Wells Fargo Active Cash® Card, Petal® 2 Cash Back, No Fees Visa® Credit Card and Merrick Bank Double Your Line® Mastercard® has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.