Credit One Bank® Platinum Rewards Visa with No Annual Fee

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Last updated on November 11th, 2021

Credit One Bank® Platinum Rewards Visa with No Annual Fee

Perfect for Maximizing Rewards

Credit One Bank® Platinum Rewards Visa with No Annual Fee
  • Regular Purchase APR 23.99% variable based on the Prime Rate
  • Cash Advance APR 23.99% variable based on the Prime Rate
  • Annual Fee None
  • Credit Needed Excellent
  • Processing Network Visa
Best Benefits
  • Earn 2% cash back rewards on eligible gas and grocery purchases as well as mobile phone, internet, cable, and satellite TV services, terms apply
  • No annual fee for qualified applicants, terms apply
  • Choose your monthly payment due date for added convenience, terms apply
  • View your free online access to your Experian credit score, terms apply
  • With $0 Fraud Liability, you won’t be responsible for unauthorized charges
  • Never miss an account update with customizable text and email alerts
  • Manage your account on-the-go with the Credit One Bank mobile app
  • If you are a Covered Borrower under the Military Lending Act, you may get a different offer
Rates & Fees
  • Regular Purchase APR: 23.99% variable based on the Prime Rate
  • Cash Advance APR: 23.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% 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
  • Late Payment Penalty Fee: Up to $39 (terms apply)
  • Return Payment Penalty Fee: Up to $39 (terms apply)
Credit Card Deals

At a Glance

The Credit One Bank® Platinum Rewards Visa with No Annual Fee is available to individuals with great credit scores. Earn 2% cash back rewards on eligible gas and grocery purchases as well as mobile phone, internet, cable, and satellite TV services, terms apply.

Ideal for Those Who:

  • Are looking for more rewards after graduating from the Platinum Visa card
  • Are looking for a credit card that does not charge an annual fee
  • Plan to use their card to pay for daily expenses and monthly utilities
  • Have good credit or above

Credit One Bank® Platinum Rewards Visa with No Annual Fee Review

The Credit One Platinum Visa is a respectable enhancement from the bank’s Platinum Visa card, offering the chance at more rewards for no annual fee.

Earn Cash Back on Everyday Purchases and More Rewards with Partners

This Platinum Rewards Visa Card from Credit One earns 2% cash back on eligible purchases. Credit One defines “eligible purchases” as any purchases that fit into the following merchant code categories:

  • Gas
  • Groceries
  • Mobile phone, internet, cable, and satellite TV services

The card also earns an additional 10% on purchases with select retailers. This bonus means that cardholders can earn up to 2.1% cash back on purchases.

There are over 30,000 locations where cardholders can earn more rewards. All they need to do is find available locations at the More Rewards site, use their card and sign for the purchase, and earn rewards!

How to Redeem Cash Back

Cash back rewards with the Credit One Bank Platinum Rewards Card are automatically applied as a statement credit each billing period. This process is the same as with other Credit One cards. While it limits the number of redemption options, it will help cardholders lower their monthly statements by “paying” off previous purchases.

A High APR, But Not Necessarily a Bad Thing

Credit One’s products feature annual percentage rates that fall on the higher end of the spectrum. As such, these cards are best for those who plan to pay their entire statement balance in full each month. Paying the statement balance in full is an excellent way to establish good credit habits. It also helps avoid interest payments racking up.

Making payments in full is likely a requirement for the Platinum Rewards anyway since the regular APR crosses over 20% for both purchases and cash advances. As mentioned, however, keeping a low monthly balance and paying it off in full means that you won’t have to worry about interest charges.

No Annual Annual Fee to Worry About

One of the nicest things about the Platinum Rewards No Annual Fee Card is the lack of annual fee. Other offers from Credit One vary in annual fee depending on the creditworthiness of the applicant. This means you might receive an annual fee ranging from no annual fee to up to $99 per year for those other offers.

With this Platinum Rewards Visa, there is no yearly charge to worry about.

Other Card Features

  • Visa Zero Fraud Liability to protect against unauthorized charges
  • Free online access to your Experian credit score each month
  • Online pre-qualify option
  • Credit One Bank’s dedicated customer service hotline
  • Credit One mobile app: The bank’s mobile app makes it easy to view transactions, make payments, and more

Should You Apply for the Credit One Bank® Platinum Rewards Visa with No Annual Fee?

The Platinum Rewards Visa with No Annual Fee from Credit One Bank is a decent cash back card that offers a nice bridge between the Platinum Card and other higher-end rewards cards. The card benefits from an increased 2.1% cash back at select retailers and no annual fee to worry about.

For those with a fair credit score, the Platinum Rewards No Annual Fee Visa is a solid and reliable option. This makes the card a good starting point for those with good credit who want the added benefit of cash back rewards.