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Last updated on April 26th, 2022
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 NeededBestCards.com uses a variation of FICO Score 8, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card.Excellent
- Processing Network Visa
- 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
- 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)
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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 purchases (terms apply). In addition, you can get up to 10% more cash back rewards at over 30,000 participating locations across the U.S.
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
This version of the Credit One Bank Platinum Visa is a respectable enhancement from the bank’s traditional offer, which gives the opportunity to earn more rewards for no annual fee.
Earn Cash Back Rewards on Everyday Purchases and More Rewards with Partners
This Platinum Rewards Visa Card from Credit One earns 2% cash back rewards on eligible purchases. Credit One defines “eligible purchases” as any purchases that fit into the following merchant code categories:
- Mobile phone, internet, cable, and satellite TV services
The card also earns up to 10% cash back rewards on purchases with select participating retailers. This bonus means that cardholders can earn up to 2.1% cash back rewards on purchases. What’s more, cardmembers can take advantage of this cash back rewards bonus at over 30,000 locations across America.
How to Redeem Cash Back Rewards
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 Bank cards. While it limits the number of redemption options, it will help cardholders lower their monthly statements by “paying” off portions from previous purchases.
A High APR, But Not Necessarily a Bad Thing
Credit One Bank’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 growing larger each month.
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 features of the Platinum Rewards No Annual Fee Card is in the name – no need to pay an annual charge to have the card. Other offers from Credit One Bank vary in annual fee depending on the creditworthiness of the applicant. This means that normally you might receive an annual fee ranging from $0 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 rewards 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 rewards at select retailers and no annual fee to worry about.
For those who qualify, 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. For those seeking other brand cash back credit cards, consider either the Citi Custom Cash℠ Card, the WF Active Cash, or even the Citi® Double Cash Card – 18 month BT offer.
The information related to Citi Custom Cash Card and Citi Double Cash Card has been collected by BestCards.com and has not been reviewed or provided by the issuer or provider of this product or service.