How Does LendingTree Get Paid?
| Advertising Disclosure
| American Express Disclosure

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.

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.

American Express Disclosure

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

Credit One Bank® Platinum X5 Visa® Review

Credit One Bank<sup>®</sup> Platinum X5 Visa<sup>®</sup>

Credit One Bank® Platinum X5 Visa® Review

Rewards Rate
Earn 5% cash back rewards on the first $5,000 of eligible gas, grocery, internet, cable, satellite TV, and mobile phone service purchases each year, and then 1% thereafter. Plus 1% cash back rewards on all other purchases, terms apply
Cash Back
Automatically earn More Cash Back Rewards for using your Credit One Bank card at participating merchants, terms apply
Fraud Protection
With $0 Fraud Liability, you won’t be responsible for unauthorized charges
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 X5 Visa® best for?

If your credit score is between Good–Good and you’re looking for a credit card that earns up to 5% cash back on certain purchases, the Credit One Bank® Platinum X5 Visa® might suit your needs. However, it does come with a $95 annual fee and a cap on the higher earning rate, so we’ll also also take a look at the Capital One SavorOne Cash Rewards for Good Credit for those who wish to consider an alternate cash back card.

Credit One Bank® Platinum X5 Visa® overview

    • Earn 5% cash back rewards on the first $5,000 of eligible gas, grocery, internet, cable, satellite TV, and mobile phone service purchases each year, and then 1% thereafter. Plus 1% cash back rewards on all other purchases, terms apply
    • With $0 Fraud Liability, you won’t be responsible for unauthorized charges     
    • Automatically earn More Cash Back Rewards for using your Credit One Bank card at participating merchants, terms apply 
    • If you are a Covered Borrower under the Military Lending Act, you may get a different offer
  • Credit needed:
    620 659
    Good
  • Free access to your credit score
  • Get up to 10% more cash back with participating retailers
  • Choose your payment due date

Intro Purchase APR

N/A

Regular Purchase APR

25.49% Variable

Intro BT APR

N/A

Regular BT APR

N/A

Annual Fee

$95

Cash Advance Fee

$10.00 or 5%, whichever is greater (see terms)

Foreign Transaction Fee

Either 3% or $1.00, whichever is greater

Balance Transfer Fee

N/A

Pros and cons

Pros

  • Earn up to 5% cash back
  • Reports to the credit bureaus
  • Accessible with good credit

Cons

  • Annual fee
  • Foreign transaction fee
  • High APR
  • Cap on 5% cash back rate
  • No sign-up bonus

What we like about the Credit One Bank® Platinum X5 Visa®

  • High cash back rate on some purchases

    The Credit One Bank® Platinum X5 Visa® lets you earn 5% cash back rewards on the first $5,000 of eligible gas, grocery, internet, cable, satellite TV, and mobile phone service purchases each year, and then 1% thereafter. Plus 1% cash back rewards on all other purchases, terms apply.

  • Builds credit history

    Credit One Bank reports your account and payment activity monthly to the three major consumer credit bureaus — Equifax, Experian and TransUnion. As long as you keep your utilization low and pay your bill on time every month, using the Credit One Bank® Platinum X5 Visa® can help you build positive credit history.

  • Accessible if you have good credit

    It’s not uncommon for the credit cards with the best rewards and benefits to require applicants to have higher credit scores. If your credit is merely “good,” don’t fret — you’ve got a better chance of approval because that’s the credit band the Credit One Bank® Platinum X5 Visa® is aimed at.

What to watch out for with the Credit One Bank® Platinum X5 Visa®

  • Charges an annual fee

    The Credit One Bank® Platinum X5 Visa® charges a $95 annual fee. Typically, a card with an annual fee like that would come with premium rewards and benefits, but not in this case. You’d have to spend more than $1,950 on the card on expenses that earned the higher cash back rate to cover the annual fee every year.

    It’s hard to justify paying $95 a year when there are other cash back credit cards that charge no annual fee.

  • Foreign transaction fee

    If traveling abroad, you’ll want to leave the Credit One Bank® Platinum X5 Visa® at home. This card charges a foreign transaction fee of either 3% or $1.00, whichever is greater, on purchases made overseas.

  • High interest rate

    With a high 25.49% variable APR on purchases, carrying a balance on the Credit One Bank® Platinum X5 Visa® is likely to result in some expensive interest charges.

  • 5% cash back rate is capped

    After spending $5,000 in a year on purchases eligible for 5% cash back, your earning rate drops to 1%. If you max out that spending cap, that’s $250 cash back at the elevated rate.

  • Doesn't offer a sign-up bonus

    Many cash back and rewards credit cards offer a sign-up bonus, but this card doesn’t.

Alternate cash back card

Compare it to the Capital One SavorOne Cash Rewards for Good Credit

| Disclosures
Capital One SavorOne Cash Rewards for Good Credit
Capital One SavorOne Cash Rewards for Good Credit
on Capital One's secure site
N/A
26.99% (Variable)
$0
3% Cash Back on dining and entertainment; 3% Cash Back on popular
  • Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases
  • 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
  • Earn 8% cash back on Capital One Entertainment purchases and tickets at Vivid Seats
  • No rotating categories or sign-ups needed to earn cash rewards
  • Cash back won't expire for the life of the account and there's no limit to how much you can earn
  • No foreign transaction fee
  • No annual fee
  • You're covered by $0 Fraud Liability if your card is ever lost or stolen
640 719

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 but not exceptional credit and are looking for a cash back rewards card, another one you may want to consider is the Capital One SavorOne Cash Rewards for Good Credit.

It charges a $0 annual fee and cardholders earn 3% Cash Back on dining and entertainment; 3% Cash Back on popular streaming services; 3% Cash Back at grocery stores; 1% Cash Back on all other purchases. Earn 8% cash back on Capital One Entertainment purchases and tickets at Vivid Seats.

There’s no limit to how much cash back you can earn, and your cash back doesn’t expire for the life of your account. And don’t worry about a foreign transaction fee if traveling abroad because there is none.

The APR is also high at 26.99% (variable), however, so it’s best to avoid carrying a balance.

Compare the Credit One Bank® Platinum X5 Visa® to similar cards

Comparison of four different credit cards
Credit One Bank<sup>®</sup> Platinum X5 Visa<sup>®</sup> Capital One SavorOne Cash Rewards for Good Credit Discover it<sup>®</sup> Cash Back Capital One Quicksilver Cash Rewards for Good Credit
Credit One Bank® Platinum X5 Visa® Capital One SavorOne Cash Rewards for Good Credit Discover it® Cash Back Capital One Quicksilver Cash Rewards for Good Credit
Apply Now
on Credit One Bank's secure site
Apply Now
on Capital One's secure site
Apply Now
on Discover's secure site
Apply Now
on Capital One's secure site
Annual Fee
$95 $0 $0 $0
Welcome Offer
None N/A Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300. N/A
Rewards Rate
Earn 5% cash back rewards on the first $5,000 of eligible gas, grocery, internet, cable, satellite TV, and mobile phone service purchases each year, and then 1% thereafter. Plus 1% cash back rewards on all other purchases, terms apply 3% Cash Back on dining and entertainment; 3% Cash Back on popular streaming services; 3% Cash Back at grocery stores; 1% Cash Back on all other purchases. Earn 8% cash back on Capital One Entertainment purchases and tickets at Vivid Seats 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply)
Intro Purchase APR
N/A N/A 0% Intro APR for 15 months N/A
Regular APR
25.49% Variable 26.99% (Variable) 13.49% - 24.49% Variable APR 26.99% (Variable)
Intro Balance Transfer APR
N/A N/A 0% Intro APR for 15 months N/A
Regular Balance Transfer APR
N/A 26.99% (Variable) 13.49% - 24.49% Variable APR 26.99% (Variable)
Recommended Credit
Good Good Excellent/Good Good
Card Details
Credit One Bank® Platinum X5 Visa® Capital One SavorOne Cash Rewards for Good Credit Discover it® Cash Back Capital One Quicksilver Cash Rewards for Good Credit

Is the Credit One Bank® Platinum X5 Visa® right for you?

The Credit One Bank® Platinum X5 Visa® offers a solid cash back rate on popular spending categories, such as gas and groceries. Unfortunately, there’s a $5,000 annual spending cap on purchases eligible for the 5% rate, after which you’ll earn just 1% back on all purchases. If you max that out, that’s $250 in cash back at the elevated rate. In addition, there’s a $95 annual fee, which effectively reduces your net cash back to $155 in this scenario.

Consumers looking for a cash back card aimed at people with lower credit scores, a $0 annual fee, and no cap on the cash back program, might prefer the Capital One SavorOne Cash Rewards for Good Credit instead.

Apply Now
on Credit One Bank's secure site