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

Both the Credit One Bank Platinum Visa and the Credit One Bank Platinum offer valuable cash back rewards and credit-building tools, making them appealing for those seeking to enhance their financial toolkit. However, the Credit One Bank Platinum Rewards edges out its counterpart with a higher cash back rate of 2% on select categories and no annual fee, making it the superior choice for cost-conscious consumers. The Credit One Bank Platinum, has a lower credit score requirement, remains a viable option for those with fair credit looking to earn rewards while building credit.

You might prefer the Credit One Platinum Rewards if you're looking for robust cash back on everyday purchases without worrying about an annual fee. This card rewards you with 2% cash back on eligible gas, grocery and service provider purchases, making it a strong contender for those who have good to excellent credit and want to maximize their rewards.

You might prefer the Credit One Platinum if your credit score is in the fair to good range and you're seeking a card that offers cash back rewards. While it has a $39 annual fee, it provides 1% cash back on the same types of purchases as the no annual fee version, which could be a worthwhile trade-off for easier qualification.

Evaluating APRs, fees, credit requirements, rewards and additional features will illuminate which card aligns with your financial needs. This section breaks down these elements, offering a clear view of each card's offerings. For instance, if annual fees are a concern, the Platinum Rewards with its $0 fee may appeal more than the Platinum with its $39 fee.

The Credit One Platinum Rewards card outperforms its counterpart with a 2% cash back rate on key spending categories. This includes eligible gas and grocery purchases, as well as payments for mobile phone, internet, cable and satellite TV services.

In contrast, the Credit One Platinum card offers a lower rate of 1% cash back on the same categories. While both cards provide value, the Credit One Platinum Rewards card doubles the earning potential on everyday expenses, making it the better option for rewards.

Please see the following table for a detailed comparison of the bonus categories for each card.

Moving from earning to using your rewards, neither the Credit One Platinum Rewards nor the Credit One Platinum card specifies unique redemption or expiration policies. Typically, cash back can be redeemed for statement credits, gift cards or other similar options. It's important to review the terms for each card to understand any potential limitations or redemption thresholds.

MoneyGeek evaluates credit cards using a ranking process tailored to specific use cases, such as cash back or balance transfers. For the Credit One Platinum and Credit One Platinum Rewards, the highest scoring use case is cash back.

The most significant factors in determining these scores are the effective reward rate and the return on investment for offers. For a detailed understanding of our scoring system, you can review our ranking methodology.