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Credit One Bank® Platinum Visa®
vs. Credit One Bank® Platinum Visa® for Rebuilding Credit
Updated: March 19, 2024
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Comparing the Credit One Bank® Platinum Visa® and Credit One Bank® Platinum Visa® for Rebuilding Credit is easy since they’re so similar. Both offer 1% cash back rewards for eligible gas, groceries and telecommunication service purchases. They also provide free access to Experian, which allows users to review their credit scores.
However, there are significant differences in annual fees and eligibility between these Credit One Bank cards. For example, the Platinum Visa has a lower annual fee at $39, but only the Platinum Visa for Rebuilding Credit is available to folks with bad credit. Below, we discuss these and other details to help you determine which works best for you.
Comparison Overview: Credit One Bank® Platinum Visa® vs. Credit One Bank® Platinum Visa® for Rebuilding Credit
- Credit One Bank® Platinum Visa®Credit One Bank® Platinum Visa® for Rebuilding Credit
- Has Annual Fee
- Has Balance Transfer Offer
- Has APR Offer
- Cash Back Rewards
- Travel Rewards
Credit One Bank® Platinum Visa® At a Glance
With a $39 annual fee, the Credit One Bank® Platinum Visa® provides 1% cash back for eligible purchases on gas, groceries and mobile phone, internet, cable and satellite TV services. Additionally, it offers up to 10% extra cash back from participating retailers. Responsible cardholders are also subject to regular reviews for credit limit increases.
- Credit One Bank® Platinum Visa®
A good cash back card for those with fair credit
- 1% Cash BackRewards Rate
- 29.74% VariableAPR
- $39Annual Fee
- Fair–ExcellentRecommended Credit
Pros
- Earn 1% cash back on gas and groceries
- Zero fraud liability for unauthorized purchases
- Customizable payment due date
Cons
- Annual fee
- Foreign transaction fee
- No introductory offers
Rewards
- Earn 1% cash back on eligible gas, grocery, mobile phone, internet, and cable/satellite TV purchases.
Perks & Benefits
- $0 Fraud Liability for peace of mind.
- Access your Free Online Credit Score and Credit Report summary.
Account Management
- Choose your payment due date for easier bill management.
- Manage your account on the go with the Credit One Bank mobile app.
- Receive customizable text and email alerts to never miss an account update.
Credit One Bank® Platinum Visa® for Rebuilding Credit At a Glance
Credit One Bank® Platinum Visa® for Rebuilding Credit gives people with limited to poor credit access to a credit card for an annual fee of $75 for the first year. After that, the annual fee is billed monthly at $8.25 per month (for a total of $99 per year).
However, unlike most credit cards for poor credit, the Platinum Visa for Rebuilding Credit doesn’t require a security deposit. It comes with 1% cash back for eligible gas and grocery purchases as well as monthly cell phone, internet, cable and satellite TV services. Responsible users can also enjoy a credit line increase to help them build their credit over time.
- Credit One Bank® Platinum Visa® for Rebuilding Credit
Best credit card for prequalifying with bad credit
- NoneRewards Rate
- 29.74% VariableAPR
- $75 first year, then $99Annual Fee
- Limited–PoorRecommended Credit
Pros
- Wide-ranging cash back rewards on gas, groceries, etc.
- Potential credit line increases as your credit score rises
- Annual fee of $99, $75 for the first year
- Easy to see if you prequalify
- Free online access to Experian credit score
- Zero fraud liability protection for lost or stolen cards
Cons
- Annual fee can be high, as can the interest rate
- Includes foreign transaction and late fees
Rewards
- Earn 1% cash back on eligible purchases, including gas, groceries, and service subscriptions like satellite TV, mobile phone, cable, and internet.
APRs, Fees, and Penalties
- Foreign transactions incur a fee of 3% or $1, whichever is greater.
- Late payments may result in a fee of up to $39.
Comparison Summary
MoneyGeek analyzed the difference between the Credit One Bank® Platinum Visa® and Credit One Bank® Platinum Visa® for Rebuilding Credit to help you determine their overall value for your needs.
Card Detail | Comparison Summary |
|---|---|
Annual Fee | The annual fee for the Credit One Bank® Platinum Visa® is $39. The Credit One Bank® Platinum Visa® for Rebuilding Credit is $75 for the first year and $99 for succeeding years, billed at $8.25 per month. Winner: Credit One Bank® Platinum Visa® |
Required Credit | Since Credit One Bank issues these cards, they both offer a free and secure prequalification through the bank’s website. However, the Platinum Visa is limited to those with fair to excellent credit, while folks with poor credit would be eligible for the Platinum Visa for Rebuilding Credit. Despite being marketed for people with bad credit, the Platinum Visa for Rebuilding Credit doesn’t require a safety deposit. Winner: Credit One Bank® Platinum Visa® for Rebuilding Credit |
Rewards | Both cards offer 1% cash back rewards for eligible everyday purchases on gas, groceries and phone/TV/internet services. Moreover, both cards offer an extra 10% cash back reward on purchases from participating merchants. The cash back rewards for both cards are redeemable only in statement credit. Winner: Tie |
Which Card Should You Get?
Since there aren’t many differences between the Credit One Bank® Platinum Visa® and Credit One Bank® Platinum Visa® for Rebuilding Credit, your credit rating will likely be the biggest determining factor in deciding which is the better card for you.
Who Should Consider the Credit One Bank® Platinum Visa®?
Credit One Bank® Platinum Visa® is excellent for people with fair credit looking to improve their credit score and earn cash back rewards in the process.
Individuals who want to use their card on everyday purchases and keep tabs on their credit score.
Responsible use of this card can lead to a higher credit limit and an improved credit score further down the line.
≫ More: Read Our Full Review
Who Should Consider the Credit One Bank® Platinum Visa® for Rebuilding Credit?
For those with limited to bad credit, Credit One Bank® Platinum Visa® for Rebuilding Credit gives you access to a credit line that comes with a modest cash back reward system, which is rare for this type of credit card.
Individuals looking to improve their credit will benefit from this card’s regular reviews for credit limit increases. Using this to acquire a lower credit utilization ratio can boost your credit rating over time.
Unlike other cards for people with bad credit, you won’t have to pay a security deposit to use this card.
≫ More: Read Our Full Review
EXPERT OPINION
The Credit One Bank® Platinum Visa® is the better of these two cards as it has a lower annual fee. But if you have a poor credit score, the Capital One Bank Platinum Visa for Rebuilding Credit is still a solid card to help rebuild your credit to a good place. And both cards have identical rewards, so you can still save at the same rate, regardless of which card you pick.
Other Helpful Decision-Making FAQs
MoneyGeek answered some frequently asked questions to help you understand the difference between Credit One Bank® Platinum Visa® and Credit One Bank® Platinum Visa® for Rebuilding Credit. Use our insights here as you shop around for the perfect credit card.
Is Credit One Bank® Platinum Visa® better than Credit One Bank® Platinum Visa® for Rebuilding Credit?
The two Credit One Bank cards have similar perks and features. Their biggest differences are their annual fees and required credit. If you have fair to excellent credit, Credit One Bank® Platinum Visa® is better for you, as it offers a lower annual fee of $39. On the other hand, if you have limited to bad credit, Credit One Bank® Platinum Visa® for Rebuilding Credit is ideal.
Can you get Credit One Bank® Platinum Visa® if you have Credit One Bank® Platinum Visa® for Rebuilding Credit?
Credit One Bank® Platinum Visa® for Rebuilding Credit is marketed to people with poor credit. As such, they may find it difficult to get a Credit One Bank® Platinum Visa® until they improve their credit rating.
Can you transfer points from Credit One Bank® Platinum Visa® to Credit One Bank® Platinum Visa® for Rebuilding Credit?
Cash back rewards from Credit One Bank® Platinum Visa® and Credit One Bank® Platinum Visa® for Rebuilding Credit turn into statement credits. They can’t be redeemed through other methods or transferred to another card.
Can you switch from Credit One Bank® Platinum Visa® to Credit One Bank® Platinum Visa® for Rebuilding Credit?
Yes, you can switch from Credit One Bank® Platinum Visa® to Credit One Bank® Platinum Visa® for Rebuilding Credit, since the latter admits a lower credit rating. However, Credit One Bank® Platinum Visa® for Rebuilding Credit comes with a higher annual fee, so it’s not advisable.
What’s harder to get, Credit One Bank® Platinum Visa® or Credit One Bank® Platinum Visa® for Rebuilding Credit?
Although both cards have a quick prequalification process, Credit One Bank® Platinum Visa® requires fair credit to qualify. As such, it’s more difficult to obtain than the Credit One Bank® Platinum Visa® for Rebuilding Credit.
How much do you have to spend for Credit One Bank® Platinum Visa® vs. Credit One Bank® Platinum Visa® for Rebuilding Credit to get the welcome bonus?
Neither Credit One Bank® Platinum Visa® nor Credit One Bank® Platinum Visa® for Rebuilding Credit offer a welcome bonus at the moment.
Still Not Sure About These Cards? Consider These Options
The Credit One Bank® Platinum Visa® and Credit One Bank® Platinum Visa® for Rebuilding Credit are ideal for people looking to improve their credit and earn cash back rewards in the process. If you’re interested in exploring other options for those with less-than-perfect credit ratings, consider a secured credit card.
Learn more about credit cards in general
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About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
sources
- Credit One Bank. "Credit One Bank® Platinum Visa®." Accessed January 7, 2022.
- Credit One Bank. "Credit One Bank® Platinum Visa® for Rebuilding Credit." Accessed January 7, 2022.
*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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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.