- $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
- 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
- 20% off + Free Shipping on Fanatics.com orders of $49+ - Offer Expires on April 15, 2021 - See Details
- Stay 3, Pay 2 - Offer Expires on April 30, 2021 - See Details
- Stay 3, Pay 2 - Offer Expires on December 22, 2021 - See Details
- Save 10% on Select Regularly Priced Jewelry - Offer Expires on February 03, 2022 - See Details
- Save 10% and complimentary daily breakfast for two with Preferred Hotels - Offer Expires on March 31, 2022 - See Details
- Every 4th Night Free + Premium Benefits in Brooklyn - Offer Expires on February 28, 2021 - See Details
- Every 4th Night Free + Premium Benefits in New York - Offer Expires on February 28, 2021 - See Details
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- Save $25 in the US with 1-800-GOT-JUNK? - Offer Expires on December 31, 2021 - See Details
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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)
- Don’t plan on carrying a balance
- 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:
- 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.
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 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 report 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.
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
- Foreign transaction fee of either $1 or 3% of the transaction cost in US dollars (whichever is greater)
- Credit One mobile app: The bank’s mobile app makes it easy to view transactions, make payments, and more
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.