How Does LendingTree Get Paid?
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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.

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Credit One Bank® Platinum Visa® for Rebuilding Credit Review

Credit One Bank<sup>®</sup> Platinum Visa<sup>®</sup> for Rebuilding Credit

Credit One Bank® Platinum Visa® for Rebuilding Credit Review

Rewards
1% Cash Back on eligible purchases and mobile phone service, internet, cable and satellite TV services. Terms Apply.
Purchase APR
25.49% Variable
Build Credit
This unsecured card requires no deposit and can help build your credit
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Credit One Bank® Platinum Visa® for Rebuilding Credit best for?

If you’re in the market for a credit card to help rebuild your credit — while also allowing you to earn rewards in popular spending categories — the Credit One Bank® Platinum Visa® for Rebuilding Credit card should be on your radar.

Designed for consumers with limited or poor credit, this card rewards responsible credit usage with credit line increase opportunities. Additionally, the card lets you earn 1% Cash Back on eligible purchases and mobile phone service, internet, cable and satellite TV services. Terms Apply.

But with an annual fee ranging from $75/$99 that’s deducted from the credit limit, a secured card that offers  cashback on every purchase and doesn’t charge an annual fee, like the Discover it® Secured Credit Card, may be a better fit.

Credit One Bank® Platinum Visa® for Rebuilding Credit overview

    • See if you Pre-Qualify without harming your credit score
    • Earn 1% cash back rewards on eligible gas, grocery purchases and mobile phone service, internet, cable and satellite TV services, terms apply
    • With $0 Fraud Liability, you won’t be responsible for unauthorized charges
    • Automatic reviews for credit line increase opportunities
    • Looking to rebuild credit? We report to the major credit bureaus monthly
    • This unsecured card requires no deposit and can help build your credit
    • Choose your monthly payment due date for added convenience, terms apply
    • Never miss an account update with customizable text and email alerts
    • Manage your account on-the-go with the Credit One Bank mobile app
    • Show off your personality by selecting from a variety of card designs, a fee may apply
  • Credit needed:
    540 659
    Fair/Poor
  • Ability to choose your payment due date
  • Up to 10% more cashback rewards from participating merchants
  • Free online access to your Experian credit score
  • Customizable notifications
  • Protection against unauthorized charges

Intro Purchase APR

N/A

Regular Purchase APR

25.49% Variable

Intro BT APR

N/A

Regular BT APR

N/A

Annual Fee

$75/$99

Cash Advance Fee

$5.00/8% or $10.00/3%, whichever is greater (see terms)

Foreign Transaction Fee

3% or $1.00, whichever is greater

Balance Transfer Fee

N/A

Pros and cons of the Credit One Bank® Platinum Visa® for Rebuilding Credit

Pros

  • Credit line increase opportunities
  • Cashback rewards on eligible purchases
  • Ability to choose payment due date

Cons

  • Annual fee
  • No bonus
  • Service

What we like about the Credit One Bank® Platinum Visa® for Rebuilding Credit

  • Credit line increase opportunities

    The Credit One Bank® Platinum Visa® for Rebuilding Credit offers a minimum credit line of $300. However, Credit One Bank will review your account regularly for credit line increase opportunities based on your overall credit performance.

  • Cashback rewards on eligible purchases

    With the Credit One Bank® Platinum Visa® for Rebuilding Credit, cardholders 1% Cash Back on eligible purchases and mobile phone service, internet, cable and satellite TV services. Terms Apply..

  • Ability to choose payment due date

    Credit One Bank gives cardholders the flexibility to choose a payment due date that fits their schedule.

What to look out for with the Credit One Bank® Platinum Visa® for Rebuilding Credit

  • Annual fee

    The Credit One Bank® Platinum Visa® for Rebuilding Credit card charges an annual fee of $75/$99. Note, the annual fee will be billed to your account when it is opened and will reduce the initial amount of your credit. For example, if you’re given the minimum credit line of $300 and your annual fee is $99, your initial available credit will be $201.

  • No bonus

    Although the Credit One Bank® Platinum Visa® for Rebuilding Credit card offers rewards on select purchases, it does not offer a sign-up bonus.

  • Service

    Credit One Bank has a great A- rating with the Better Business Bureau. However, it has been cited by the agency for a pattern of complaints when it comes to billing and collection issues. If you’re going to use this card, just be sure to keep tabs on your monthly statements.

Alternate credit-building card to the Credit One Bank® Platinum Visa® for Rebuilding Credit

Compare it to the Discover it® Secured Credit Card

| Disclosures
Discover it® Secured Credit Card
Discover it® Secured Credit Card
on Discover's secure site
N/A
24.49% Variable APR
$0
2% cash back at Gas Stations and Restaurants on up to $1,000
  • No credit score required to apply.
  • No Annual Fee, earn cash back, and build your credit with responsible use.
  • Establish your credit line by providing a refundable security deposit of at least $200. That means a $200 deposit for a $200 credit line. Or a $500 deposit for a $500 credit line. Bank information must be provided when submitting your deposit, and the security deposit equals your credit limit.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • NEW! Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • Click "Apply Now" to see terms and conditions.
300 659

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.

 

Similar to the Credit One Bank® Platinum Visa® for Rebuilding Credit, the Discover it® Secured Credit Card is designed for individuals with limited or poor credit who want to build or rebuild their credit history. Additionally, along with reporting your credit usage to the three major credit bureaus, the Discover it® Secured Credit Card offers cashback rewards on every purchase you make.

Cardholders earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically. Plus — Discover it® Secured Credit CardDiscover will match all the cash back you’ve earned at the end of your first year.

Unlike the Credit One Bank® Platinum Visa® for Rebuilding Credit, the Discover it® Secured Credit Card comes with a $0 annual fee. However, it does require a refundable security deposit ranging from $200 to $2,500, which will serve as your credit line. That said, Discover will automatically conduct monthly reviews starting at seven months to determine if you can transition to an account with no security deposit.

Another perk of the Discover it® Secured Credit Card: Paying late won’t raise your APR, and there will be no late fee on your first late payment (after that, up to $41). By contrast, the Credit One Bank® Platinum Visa® for Rebuilding Credit may raise your APR for paying late, and you may be subject to a late payment fee of up to $39.

Compare the Credit One Bank® Platinum Visa® for Rebuilding Credit card to similar cards

Comparison of four different credit cards
Credit One Bank<sup>®</sup> Platinum Visa<sup>®</sup> for Rebuilding Credit Discover it<sup>®</sup> Secured Credit Card Capital One Platinum Secured Credit Card Capital One Platinum Credit Card
Credit One Bank® Platinum Visa® for Rebuilding Credit Discover it® Secured Credit Card Capital One Platinum Secured Credit Card Capital One Platinum Credit Card
Apply Now
on Credit One Bank's secure site
Apply Now
on Discover's secure site
Apply Now
on Capital One's secure site
Apply Now
on Capital One's secure site
Welcome Offer
Earn $200 back after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership. You will receive the $200 back in the form of a statement credit Discover will match all the cash back you’ve earned at the end of your first year. No bonus No bonus
Rewards Rate
1% Cash Back on eligible purchases and mobile phone service, internet, cable and satellite TV services. Terms Apply. 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically Non-rewards Card Non-rewards Card
Annual Fee
$75/$99 $0 $0 $0
Regular APR
25.49% Variable 24.49% Variable APR 26.99% (Variable) 26.99% (Variable)
Recommended Credit
Fair/Poor Poor/Limited Poor/Limited Fair/Limited
Card Details
Credit One Bank® Platinum Visa® for Rebuilding Credit Discover it® Secured Credit Card Capital One Platinum Secured Credit Card Capital One Platinum Credit Card

Is the Credit One Bank® Platinum Visa® for Rebuilding Credit right for you?

If you’re credit score isn’t quite good enough to get you approved for a traditional credit card, the Credit One Bank® Platinum Visa® for Rebuilding Credit card may be a good choice to help establish or build your credit. But considering that the annual fee goes toward the initial $300 credit limit and the high APR, you may want to consider other options, like the Discover it® Secured Credit Card.

Whichever card you choose, just know that building your credit requires responsible card usage. This includes paying your balance on time and in full (whenever possible) each month, maintaining a low credit utilization ration and only applying for credit when it’s truly needed.

Apply Now
on Credit One Bank's secure site