Credit One Platinum Rewards Visa with No Annual Fee

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Last updated on March 11th, 2021

Credit One Platinum Rewards Visa with No Annual Fee

Perfect for Maximizing Rewards

Credit One 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 $0
  • Credit Needed Excellent , Good , Fair
  • Processing Network Visa
Best Benefits
  • Earn 2% back on eligible everyday purchases
  • Earn 10% more on purchases from select merchants
  • Complimentary access to Experian credit score each month
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
  • Annual Fee: $0
  • Foreign Transaction Fee: Either $1 or 3% of each purchase in U.S. dollars, whichever is greater
  • Late Payment Penalty Fee: Up to $39
  • Return Payment Penalty Fee: Up to $39
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At a Glance

Credit One Bank is a credit card issuer that specializes in helping consumers raise their credit score, and the Credit One Platinum Rewards Visa is a satisfactory addition to this ethos. The card, available to those with average credit scores, earns 2% back on purchases in eligible categories, plus an extra 10% back at over 30,000 locations across the U.S. The card has no annual fee.

Ideal for Those Who:

  • Are looking for more rewards after graduating from the Platinum Visa
  • 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 a fair or good credit

Credit One Platinum Rewards Visa with No Annual Fee Review

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

Earn Cash Back on Everyday Purchases and More Rewards with Partners

The 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, and while disappointing that there are no other redemption options, it will help cardholders lower their monthly statements.

Not a Great APR

Credit One designs many of their cards, like the Platinum Rewards Visa Card, for rebuilding credit. 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 anyways since the regular APR is high for both purchases and cash advances. While the rate may vary some, applicants must plan to pay their bill in full each month regardless to maintain their credit in good standing.

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.

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

Other Card Features

The Platinum Rewards Visa features many of the protections that come with Visa and Credit One offers. Cardholders can expect free online access to your Experian credit score every month. They can also expect seamless integration with Credit One’s mobile app. They’ll also receive Zero Fraud Liability coverage from Visa, meaning they won’t be held responsible for any unauthorized transactions on their account.

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

The Platinum Rewards Visa card 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 towards a much more robust rewards card – either with Credit One or another issuer.

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