The Credit One Platinum Credit Card is an excellent option for those looking to manage their finances while earning rewards on everyday purchases. With wide approval through the Visa network, you can shop wherever you want without hassle.
This card offers advantages that can help you improve your credit score and enjoy exclusive benefits, such as cashback on various purchases. In addition, with the possibility of a credit limit increase, the Credit One Platinum adapts to the evolution of your financial situation.
Want to know how it can be a great option for you? Keep reading and discover everything this card has to offer!
Meet the Issuer
Credit One Bank is a U.S.-based financial institution specializing in credit cards, with a focus on customers looking to build or rebuild their credit history. Founded in 1984, the bank is headquartered in Las Vegas, Nevada, and is a subsidiary of Sherman Financial Group.
Over the years, Credit One Bank has dedicated itself to offering financial products that meet the needs of a wide range of customers, including those with limited or less favorable credit histories. Beyond financial services, the bank also invests in community initiatives, contributing significant resources to various charitable causes.
It’s important to note that Credit One Bank is not affiliated with Capital One, another major financial institution in the U.S., which helps clarify the differences between each bank’s services.
Main Benefits of the Card
Cash Back Rewards: The card offers 1% cashback on all eligible purchases, such as gas, groceries, and utility services. This benefit is ideal for those looking to earn rewards while making everyday purchases.
Credit Limit Increase: The Credit One Platinum performs automatic reviews of your credit limit, with the possibility of increases based on responsible usage. This can help improve your credit score over time.
Credit Score Access: With the card, you get free access to your credit score, making it easier to monitor your financial health. This helps you make more informed decisions about your spending and investments.
Customizable Due Date: You can choose the due date that best fits your financial cycle, making payment management easier and avoiding surprises in your monthly budget.
Fraud Protection: With the “Zero Liability” policy, you won’t be responsible for unauthorized purchases on your card. This gives you peace of mind knowing your account is protected against potential fraud.
EMV Chip Technology: The card uses EMV chip technology, which enhances security and reduces the risk of fraud during transactions. This chip makes payments more secure, especially for in-person purchases.
Electronic Statements: The Credit One Platinum offers the option to receive electronic statements, making it easier to access your account details and helping to reduce paper consumption—an eco-friendly and practical choice.
Security Alerts: The card sends real-time alerts about purchases and account changes, allowing you to closely monitor all transactions and immediately detect any suspicious activity.
Credit One Platinum Credit Card: Fees and Commissions
The Credit One Platinum Credit Card has an annual fee of $39, which is automatically charged at the start of each billing cycle. In addition, the interest rate (APR) for purchases and cash advances can be around 28.99%.
For international transactions, the conversion fee is 3%, which may be relevant for frequent travelers. The late payment fee can reach up to $39, depending on the situation. There is also a fee of $5 or 8% of the cash advance amount, whichever is greater.
Fees and charges are subject to change without prior notice, so it’s important to stay up-to-date with notifications sent by the institution.
Card Limit
The credit limit for the Credit One Platinum card generally starts at $300 but may be adjusted based on the cardholder’s credit history. For those with a strong financial history, it’s possible to receive a credit limit increase after some time of responsible use.
This initial limit is reviewed periodically and can reach up to $1,500 depending on payment behavior and analyses conducted by the institution.
Additionally, Credit One offers the possibility to request a credit limit increase after approximately six months of continuous and responsible use. This can be done easily through the bank’s website or mobile app.
Positive points
- Easy approval for those just starting:The Credit One Platinum is a great option for those with little or no credit history.
- Possibility of credit limit increase:After six months of responsible use, you can request a credit limit increase.
- Efficient credit management:Offers online and in-app tools for expense monitoring and credit control.
Negative points
- High annual fee:The $39 annual fee may be considered steep, especially for those new to credit.
- High interest rates:The APR of up to 28.99% can result in high costs for those who don’t pay their full balance monthly.
- Foreign transaction fee:The 3% charge on international transactions may be inconvenient for travelers.
How to Apply for Credit One Platinum Credit Card
- Visit the official Credit One Bank website or download the mobile app.
- Click the option to apply for the Credit One Platinum credit card.
- Fill out the form with your personal information, such as name, address, and monthly income.
- Provide your financial details, including Social Security Number or tax identification.
- Review the card’s terms and conditions and confirm your application.
- Wait for approval, which usually happens quickly.
- If approved, the card will be sent to your registered address.
How to Contact Credit One Bank
If you need assistance or have questions about your Credit One Platinum card, you can contact the bank through the following channels:
- Phone (U.S. Customer Service): 1-877-825-3242 (available 24/7)
- Phone (Outside the U.S.): 1-702-405-2042 (available 24/7)
- Card Application Information: 1-800-752-5493 (Monday to Friday, 8 AM to 6 PM PST; Saturday and Sunday, 9 AM to 5 PM PST)
If you haven’t applied for your card yet, take the opportunity to do so and start enjoying its benefits today!
