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Last updated on November 11th, 2021
Credit One Bank® Platinum Visa®
Great for Everyday Rewards
- Earn 1% cash back rewards on eligible gas, grocery purchases and mobile phone service, internet, cable and satellite TV services, terms apply
- With $0 Fraud Liability, you won’t be responsible for unauthorized charges
- Automatic reviews for credit line increase opportunities
- View your Experian credit score online for free, terms apply
- Choose your monthly payment due date for added convenience, terms apply
- Never miss an account update with customizable text and email alerts
- Manage your account on-the-go with the Credit One Bank mobile app
- Show off your personality by selecting from a variety of card designs, a fee may apply
- Regular Purchase APR: 17.99% to 23.99% variable based on creditworthiness and the Prime Rate
- Cash Advance APR: 17.99% to 23.99% variable based on creditworthiness and the Prime Rate
- Cash Advance Transaction Fee: Either $5 or 8% of the amount of each Cash Advance, whichever is greater, or $10 or 3% of each Cash Advance, whichever is greater, or $10 or 5% of each Cash Advance, whichever is greater
- Annual Fee: $39
- 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)
At a Glance
The Credit One Bank® Platinum Visa® is an excellent cash back rewards credit card for those who plan to use their card to pay for utilities and errands. Earn 1% cash back rewards on eligible gas, grocery purchases and mobile phone service, internet, cable and satellite TV services, terms apply. The card also features a $39 annual fee.
Ideal for Those Who:
- Are comfortable paying a moderate annual fee on a card that earns rewards on everyday purchases
- Have credit in the low-to-good range
- Don’t plan on carrying a balance
- Plan to use their card to pay for daily expenses and monthly utilities
Credit One Bank® Platinum Visa® Review
The Credit One Platinum Visa Card is a reliable cash back card that boosts the rewards available – and that little extra to boost them even more.
Earn Cash Back on Everyday Purchases
The Platinum Visa® Card from Credit One Bank® earns 1% cash back on eligible purchases. Credit One Bank defines “eligible purchases” as any purchases that fit into the following merchant code categories:
- Mobile phone, cable, internet, and satellite services
Earn More Cash Back with Select Partners
This Platinum Visa® also earns an additional 10% on purchases with select retailers. This bonus means that cardholders can earn 1.1% cash back on purchases. There are over 30,000 locations where cardholders can earn more rewards.
All they need to do is find available places at the More Rewards site, use their card and complete a purchase. Rewards are added to their accounts automatically.
Cash back rewards, including More Cash Back Rewards, are automatically applied as a statement credit each billing period. This process is the same as with other Credit One Bank® Platinum cards, and while other redemption options are lacking, it will help cardholders lower their monthly statements.
A High APR on Purchases
Like other Credit One cards, the Platinum Visa® has a high APR on purchases and cash advances. While the rate may vary some, it is high nevertheless, so applicants should plan to pay their bill in full each month to keep their credit report in good standing.
One peculiar thing about all Credit One Cards is they don’t allow holders to conduct balance transfers. The Platinum Visa® is no different. This isn’t a bad thing, however, as the interest rates on these cards do not make them a recommended option for migrating and paying down existing debt.
One Annual Fee
This card features a $39 annual fee, which is moderate considering that Credit One offers alternate cards with annual fees reaching as high as $99 per year. If customers can take ample advantage of the cash back earning feature, they might be able to offset the yearly charge a fair bit – if not entirely.
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 Visa®?
The Credit One Bank® Platinum Visa® is a welcome addition for those looking for the chance to earn 1% back for gas, grocery, and purchases with select service providers. An additional 10% bonus back at select retailers is another nice perk.
The principal limitation the Platinum Visa® comes with is the lack of options for redeeming cash back. There is no rewards portal allowing users to redeem their cash back for trips, merchandise, or even for donations. Instead, they only receive their rewards as a statement credit. However, for those who prefer to keep it simple, the cash back is automatically deposited and there are no other steps to take.
In addition, statement credits are what people have come to expect from Credit One rewards. Credit One products are for those who want to improve and maintain their credit scores, so the Platinum Visa®’s reward structure is ideal for them.
With regular spending, cardholders can not only cover their bills but receive rebates at the same time – all for a reasonable annual fee. If you have a credit score in the 600s and want everyday savings, the Credit One Bank® Platinum Visa® is a reliable option to consider carefully.