VISA® Platinum from Credit One Bank® Credit Card Review

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Those who have bad credit are not excluded from using credit cards, they just may have to look a little harder to find something that they can qualify for. The VISA Platinum from Credit One Bank may be the perfect card. This is a great card, because it can help you rebuild your credit and they don’t charge you an arm and a leg to do so.

Most of the time, those with bad credit have to pay very high fees to get a credit card. Not this one. You even get a bunch of great perks to sweeten the deal. Let’s dig in and take a look to see if the VISA Platinum from Credit One Bank is the card for you.

 

The Benefits

Annual Fee

Although this card does have an annual fee that ranges from $35-$99, depending on your credit score and credit history, there is no additional enrollment fee to apply. Many cards marketed toward those with bad credit require an enrollment fee, which is non-refundable, even if you do not qualify. So, it’s definitely worth a shot to apply for this card and see if you qualify!

Decent Credit Line

If you are approved for the VISA Platinum from Credit One bank, you will have a credit line of at least $300. This is a decent amount, just about right for rebuilding your credit without allowing you to get yourself into further financial hot water. You will be automatically reviewed for periodic credit increases, too, so as your credit improves, your credit line can increase.

Get Prequalified

You can get prequalified for this card before applying, which is nice when you are shopping around. When you get prequalified, it will not adversely affect your credit score like many other inquiries might.

Earn Cash Back Rewards

Earn 1% cash back on all of your gas station purchases with this card. Although you won’t earn 1% across the board on your purchases, this is a pretty sweet deal for those trying to come back from a bad credit spell.

Great Fraud Protection

Credit One Bank offers its customers complete fraud protection and zero liability, in the event that your card is ever lost or stolen. All you have to do is promptly report the loss, and you will not be held responsible for any transactions that you did not authorize.

You Pick the Payment Due Date!

One of the very consumer-friendly perks of this card is that you can choose the due date for your monthly payments. If most of your payments are due around the first of the month, you can arrange to make your VISA payment mid-month, to help spread out your expenses. This can be an important perk for those who have had previous financial problems and are trying to rebuild credit and be responsible.

Make the payment date one that is convenient for you. You do have the option to change the monthly due date once every 6 months, should your situation change and you need to adjust your payment schedule.

No Penalty Fee for Exceeding Your Credit Limit

Unlike most credit cards, which tend to charge around $35 for going over your credit limit, the VISA Platinum from Credit One Bank does not charge you for over the limit spending. While going over your limit is not free—you will pay interest on the amount you owe if you do not pay your balance in full each month, you will not have to pay any penalty fees.

Travel Perks

With the VISA Platinum from Credit One Bank, you will get great Platinum VISA travel perks, including travel insurance, rental car collision insurance and emergency services.

 

The Nitty Gritty

The VISA Platinum from Credit One Bank has an annual fee of $35-99, based on your credit history. Your APR will range from 17.90-23.90%, depending on your credit and the prime rate. There are no over limit penalty fees. There is no enrollment fee. There are no cash advance fees for the first year, but they will be $5 or 8% of the transaction amount after that.

 

Conclusion

This card is great for anyone who is battling their way back from credit problems. You can easily find out if you prequalify, and there are no enrollment fees to apply—so you have nothing to lose. You will have to pay an annual fee, but it’s not terrible and really the only potential drawback for this card. You will start out with a decent credit limit and be periodically reviewed to see if you qualify for an increase.

You even get a little cash back based on your gas purchases. There is zero fraud liability. If you are looking for a way to rebuild your credit, and don’t want to go the route of a secured credit card, see if you can qualify for this one and get the Platinum VISA perks!

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