Credit One Bank American Express® Card
vs. Credit One Bank® Platinum Rewards Visa® With No Annual Fee

Updated: July 17, 2024

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Both the Credit One Bank American Express® Card and the Credit One Bank® Platinum Rewards Visa® With No Annual Fee cater to consumers seeking cash back rewards. However, the Credit One Amex edges out slightly with its unlimited 1% cash back on all purchases, making it a more versatile choice for everyday spending.

Not to be overlooked, the Credit One Platinum Rewards offers 2% cash back on eligible categories without worrying about an annual fee. Consider the card if you have a higher credit score and can take advantage of the bonus categories.

Credit Card logo for Credit One Bank American Express® Card
Credit One Bank American Express® Card
Credit Card logo for Credit One Bank® Platinum Rewards Visa® With No Annual Fee
Credit One Bank® Platinum Rewards Visa® With No Annual Fee
MoneyGeek Rating
2.7/ of 5
MoneyGeek Rating
2.5/ of 5
On Issuer's Site
On Issuer's Site

Which Card Is Better for You?

You might prefer the Credit One Amex if you value a simple rewards program and can benefit from the additional Amex Offers. With a flat 1% cash back on all purchases and a range of protective benefits, this card is a solid choice for those with fair to good credit who don't mind paying an annual fee for these advantages.

You might prefer the Credit One Platinum Rewards if you spend a significant amount on gas, groceries and certain services and want to maximize your cash back in these categories. With no annual fee and the ability to choose your payment due date, this card caters to those with good to excellent credit seeking targeted rewards.

Head-to-Head Comparison: Card Details and Features

Evaluating the Credit One Amex and Credit One Platinum Rewards on APRs, fees, credit requirements, rewards and other features will clarify which card aligns with your financial situation. For instance, if avoiding annual fees is a priority, the Credit One Platinum Rewards is better, while the Credit One Amex might be appealing for its Amex Offers.

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    Regular APR: Tie

    Both the Credit One Amex and the Credit One Platinum Rewards offer a regular APR of 29.74% variable. There is no difference in APR between these two cards.

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    Annual Fee: Credit One Platinum Rewards

    The Credit One Platinum Rewards is the clear winner for avoiding annual fees. It has a $0 annual fee, compared to the Credit One Amex's $39.

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    Introductory 0% APRs: Tie

    Neither the Credit One Amex nor the Credit One Platinum Rewards offers an introductory 0% APR for purchases or balance transfers. For options that do, consider exploring the best zero interest credit cards.

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    Rewards: Credit One Platinum Rewards

    The Credit One Platinum Rewards is better for rewards, offering 2% cash back on eligible gas, grocery, mobile phone, internet, cable and satellite TV services. In contrast, Credit One Amex provides a flat 1% cash back on all purchases.

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    Welcome Offers: Tie

    Neither the Credit One Amex nor the Credit One Platinum Rewards offers a welcome bonus, making this feature a tie between the two cards.

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    Recommended Credit Score: Credit One Amex

    The Credit One Amex is more accessible, requiring a lower credit score range of 580 to 740, compared to the Credit One Platinum Rewards' 670 to 850 range.

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    Penalties and Fees: Credit One Amex

    For penalties and fees, the Credit One Amex is slightly better due to its lower cash advance fee of either $5 or 8% of the amount, compared to the Credit One Bank Platinum Rewards' cash advance fee of either $10 or 5%.

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    Issuer Satisfaction: Tie

    Since Credit One Bank issues both cards, they share the same issuer satisfaction rating of 2.0.

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    Other Features & Perks: Tie

    Both cards offer unique perks that cater to different preferences. The Credit One Amex provides valuable travel and shopping benefits, including $0 Fraud Liability, Retail Protection, exclusive access to presale tickets and Travel Accident Insurance. The Credit One Platinum Rewards emphasizes convenient account management with its mobile app, customizable alerts, free online credit score and report summary and $0 Fraud Liability. Choosing between them depends on whether you value travel and shopping perks or account management and credit monitoring tools more.

Rewards Comparison

Regarding rewards, the Credit One Platinum Rewards stands out with its 2% cash back on essential services and everyday purchases like gas and groceries. This targeted approach can yield significant returns for those who spend heavily in these categories.

On the other hand, Credit One Amex offers a straightforward 1% cash back on all purchases, which can benefit those with a diverse range of spending. It's a simple, no-fuss approach to earning rewards.

Below is a table of bonus categories to help you compare the rewards programs of both cards at a glance.

Category
Credit One Amex
Credit One Platinum Rewards

Gas

1%

2%

Groceries

1%

2%

Mobile Phone Services

1%

2%

Internet, Cable and Satellite TV Services

1%

2%

All Other Purchases

1%

1%

Redeeming Rewards

Credit One Amex simplifies the redemption process by automatically applying your cash back as a statement credit. You do not need to worry about reward expiration, either, as your cash back does not expire as long as your account remains in good standing.

The Credit One Platinum Rewards cash back can be redeemed as automatic statement credit. Rewards do not expire as long as your account is active.

Methodology

MoneyGeek evaluates credit cards like the Credit One Amex and Credit One Platinum Rewards using a ranking process tailored to specific use cases, such as cash back. For these cards, the highest-scoring use case is cash back. The most significant factors in determining their scores are the effective reward rate and the return on investment for offers, which reflect the value you get from using the card. Other considerations include annual fees and customer satisfaction. For a detailed understanding of our scoring system, you can read more about our ranking methodology.

FAQ: Credit One Amex vs. Credit One Platinum Rewards

What are the annual fees for each card?
How do the cash back rewards compare between the two cards?
Are there any foreign transaction fees associated with these cards?
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Do either of the cards offer special introductory rates or bonuses?
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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