Who is Credit One's Visa Platinum Designed For?

Credit One's Visa Platinum is designed for people with poor credit who want an unsecured credit card and would like to improve their credit. Credit One is a credit card company that targets consumers with bad credit and generally charges high interest rates and annual fees.

What are the Interest Rates for Visa Platinum?

- Interest rates range from 17.9% to 23.9% APR, depending on creditworthiness, which is high but still competitive when you compare it with the rates charged by other credit cards for people with bad credit. Credit One uses the average daily balance method to calculate users' balances.

The APR is variable and is calculated by adding between 14.65% and 20.65% to the U.S. Prime Rate, which is published on the 25th day of each month in the “Money Rates” section of the Wall Street Journal. The interest rate for this card is capped at 29.90%. There are no introductory rates for new customers.

What Are the Fees for Credit One Visa Platinum Credit Card?

- Visa Platinum has an annual membership fee of $35 to $75 for the first year and $35 to $99 thereafter, depending on credit history of users.

- Each new credit card for authorized users has an annual cost of $19.

- Cash advances have either a $5 or 8% of the amount, whichever is greater. However, the fee is waived during the first year for cash advances of less than $400.

- Credit One Visa Platinum charges a $35 fee for late payments and returned payments.

What Is Visa Platinum's Rewards Program Like?

Visa Platinum gives users a 1% cashback on all gas purchases. The cashback is redeemed automatically as a statement credit.

What about Visa Platinum's Signup Bonus?

Credit One Visa Platinum doesn't have a signup bonus. On the contrary, the annual membership fee is immediately charged to the account, which reduces the line of credit available by the cost of the annual fee.

Does Visa Platinum Have Any Other Benefits?

The main attraction of the Credit One Platinum Visa is that people with bad credit are eligible and that it is a useful tool to rebuild credit.

It offers automatic credit line increase reviews, updates all three credit bureaus and includes free monthly credit score tracking. In addition, it allows you to get pre-qualified for the card without affecting your credit score. Each one of those features has the potential to help people improve their credit rating.

Credit One Visa Platinum also emails or texts reminders when a payment is due and lets cardholders pick the payment due date that best fits your schedule.

How Is Visa Platinum Better Than Other Credit Cards?

The Credit One Visa Platinum is one of the best unsecured credit cards available to people with bad or no credit. It does have high annual fees and interest rates ranging from 17.9% to 23.9%, but it also includes useful credit building features, such as free credit score tracking, email alerts and pre-qualification, that most credit cards in this category don't carry.

  • Customer Type
  • Card Type
    Balance Transfer Rewards
  • Card Network
  • Minimum Age
  • Co-signing Allowed
  • Late Payment Penalty
  • Minimum Interest Charge
  • Returned Payment Fee
  • Car Rental Insurance
  • Emergency Support
  • Extended Warranty
  • Flight Insurance
  • Fraud Liability
  • Free FICO Score
  • Lost Luggage Insurance
  • Travel Insurance
  • Air Miles
  • Cashback
  • Points
  • Standard Rate
  • Standard Rate
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Est. 1984

  • Cashback
  • Gas
  • No Foreign Transaction Fee
Standard Rate 17.9
Card Type Balance Transfer
Card Type Rewards
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Est. 1984

Card Type Balance Transfer
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