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Credit One Platinum Visa

Credit One Platinum Visa

Great for Everyday Rewards

Credit One Platinum Visa
  • Regular Purchase APR 23.99% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 23.99% variable based on the Prime Rate
  • Annual Fee $39
  • Credit Needed Excellent , Good , Fair
  • Processing Network Visa
Best Benefits
  • $39 Annual Fee
  • Earn 1% cash back on eligible purchases
  • Earn 10% more cash back rewards at select participating top retailers. No offers are required to activate or points to redeem
Rates & Fees
  • Regular Purchase APR: 23.99% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR: 23.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $5 or 8% of the amount 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
  • Return Payment Penalty Fee: Up to $39
Credit Card Deals
  • Spoil your pup with a FREE upgrade to BarkBox. - Offer Expires on December 31, 2020 - See Details
  • Save 10% on all Afternoon Tea orders - Offer Expires on December 31, 2020 - See Details
  • Save 10% on The Berlin Pass - Offer Expires on December 31, 2020 - See Details
  • Complimentary EZ Mini Crunchies (60g) when you spend S$120 - Offer Expires on December 31, 2020 - See Details
  • 10% off museum entry - Offer Expires on December 31, 2020 - See Details
  • Save up to 55% on London theater tickets - Offer Expires on December 31, 2020 - See Details
  • Save an extra 10% on Tower of London access tickets - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Alamo® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Enterprise Rent-A-Car® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% on The Paris Explorer Pass - Offer Expires on December 31, 2020 - See Details
  • View All Deals -

At a Glance

The Credit One Platinum Visa is an excellent cash back rewards credit card for those who plan to use their card to pay for their utilities and errands. The card, offered by Credit One Bank earns 1% back on eligible purchases. Cardholders also receive 10% more (1.1% back) at select retailers. 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 at least average credit (fair to good credit scores)
  • Plan to use their card to pay for daily expenses and monthly utilities

Credit One 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 earns 1% 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, cable, internet, and satellite services

Earn More Cash Back with Select Partners

The 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 sign for the purchase. Rewards are added to their accounts automatically.

Automatic Redemptions

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 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 has a high APR on purchases and cash advances. While the rate may vary some, it is high nevertheless, so applicants must plan to pay their bill in full each month to keep their credit in good standing.

One peculiar thing about all Credit One Cards is they don’t allow holders to conduct balance transfers. The Platinum 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.

Should You Apply for the Platinum Visa from Credit One Bank?

The Credit One Platinum Visa is a welcome addition to 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 flaw with the Platinum Visa comes with 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. Fortunately, statement credits are what people have come to expect from Credit One rewards, meaning it will disappoint only a few. Credit One products are for those who want to improve and maintain their credit scores, so the Platinum’s reward structure is ideal for those types.

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 Platinum Visa is a reliable option to consider carefully.

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