The Credit One® Platinum Visa® is a solid option for anyone looking to rebuild or establish their credit history in the U.S. Designed for consumers with average or lower credit scores, this card combines accessibility with practical features and real rewards. Here’s what you should know.
Cashback
One of the biggest perks of the Credit One Platinum Visa is its automatic 1% cashback on everyday spending categories like gas, groceries, internet, mobile phone bills, and cable TV.
In addition, the More Cash Back Rewards program allows you to earn up to 10% extra cashback when shopping with select retail partners. These offers are available through the website or mobile app and vary by promotion.
This makes the card appealing to users who want more than just the basics. With a wide network of partners, you not only get discounts but also earn money back on purchases. Best of all, cashback is automatically credited to your statement, making it easy to take advantage of your rewards.
While the card doesn’t include a points program or luxury travel perks, its straightforward cashback system adds real value to everyday purchases and helps you build a stronger financial profile.
Additional Benefits
The Credit One Platinum Visa also includes several helpful features and services, such as:
- Free access to your monthly credit score through Experian;
- Credit monitoring and reporting tools to help track your progress;
- Fraud protection to keep your account secure;
- Ability to change your payment due date, offering more flexibility;
- Customizable account alerts for spending and due dates;
- Visa Platinum benefits, including purchase protection, insurance, and extended warranties;
- Compatibility with digital wallets like Apple Pay, Google Pay, and Samsung Pay.
If you’re considering the Credit One Platinum Visa, it’s important to understand if your profile aligns with the card’s purpose. Designed for consumers looking to rebuild or establish credit, this card offers some practical benefits, including cashback rewards and discounts with select partners. If that sounds like what you need, here’s how to move forward with your application.
Fees and Interest Rates
The Credit One Platinum Visa typically comes with an annual fee of $39, though the exact amount may vary depending on the offer you’re eligible for. Unlike some cards, it doesn’t offer a 0% introductory APR. Instead, the standard APR ranges from 28.99% to 29.49%, applying to both purchases and cash advances.
There’s also a foreign transaction fee of 3% or $1 (whichever is greater), which is something to keep in mind if you plan to make purchases outside the U.S. For cash advances, the fee is 5% of the amount (with a minimum charge of $5 or $10, depending on the transaction). Late or returned payments can result in penalties of up to $39, so it’s important to stay on top of your payment schedule.
While these fees are on the higher side, they’re fairly common among cards designed for individuals with limited or damaged credit histories.
Who Can Apply?
The Credit One Platinum Visa is geared toward individuals with fair or poor credit—typically those with a FICO score below 570. It’s especially helpful for those who’ve had financial setbacks or are just beginning to build credit in the U.S.
To qualify, applicants must be at least 18 years old, have a valid Social Security number, provide proof of income, and pass a credit evaluation. That said, the bank is known for its flexibility, often approving customers with low or limited credit scores, which makes it a viable option when other cards might decline your application.
How to Apply for the Credit One® Platinum Visa®
You can apply directly through the Credit One Bank website, where you’ll complete a short form with your personal and financial details. If you’re already a customer, it’s worth checking for pre-approved offers, which may speed up the process and help you avoid a hard credit inquiry.
In many cases, Credit One uses a soft pull initially to determine your eligibility—this won’t affect your credit score. If approved, you’ll receive your card in the mail and can activate it through the Credit One mobile app, unlocking cashback rewards on eligible purchases.
Is the Credit One® Platinum Visa® Worth It?
The Credit One Platinum Visa can be a solid choice for those who need access to credit and may not qualify for other cards. It offers cashback on everyday spending, automatic credit limit reviews, and regular reporting to the major credit bureaus, helping you build a positive credit history with responsible use.
However, the fees and high APR make it less appealing if you already have good credit or can qualify for a no-annual-fee card. If you’re rebuilding your credit and need a stepping stone, this card delivers on its promise—but it’s wise to revisit your options once your credit improves.
All information in this and other BOISLA articles is subject to change over time. Please check for updates directly with the institutions and companies mentioned. Approval is subject to the institution’s review.
REFERENCES:
https://www.creditonebank.com/
Read more about credit cards in https://boisla.com/category/credit-cards/
