Credit Cards

Credit One Bank® Platinum Visa® for Rebuilding Credit review

Looking for a credit card to help rebuild your credit? Check out the Credit One Bank® Platinum Visa® for Rebuilding Credit Credit Card, which offers cash back rewards and monthly credit-bureau reporting.

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Understanding Credit One Bank® Platinum Visa® for Rebuilding Credit: Earn cash back rewards!

Credit One Bank® Platinum Visa® for Rebuilding Credit Credit Card
Read our Credit One Bank® Platinum Visa® for Rebuilding Credit Credit Card review. Source: The Post New.

Is your credit score lower than you’d like it to be? A Credit One Bank® Platinum Visa® for Rebuilding Credit Credit Card could be the perfect solution for you.

This card offers cash back rewards and a range of other benefits, making it a great choice for anyone looking to improve their credit rating.

Since it’s an unsecured credit card, you don’t have to worry about putting down a security deposit.

Credit One provides new clients with a $300 initial spending limit, which can improve over time by using the card responsibly.

Keep reading our review to see how this product can provide you with the purchasing power you need.

Get the Platinum Visa® for Rebuilding Credit

Start your path on credit score improvement and learn how to apply for a Credit One Bank® Platinum Visa® for Rebuilding Credit Credit Card today!

  • Sign-up bonus: There is no sign-up bonus.
  • Annual fee: $75 during the first year; $99 after.
  • Rewards: 1% cash back on eligible purchases.
  • Other perks: Monthly payment reports to credit bureaus.
  • APR: 24.24% variable.

Credit One Bank® Platinum Visa® for Rebuilding Credit Credit Card: is it a good card?

The Credit One Bank® Platinum Visa® for Rebuilding Credit Credit Card is an unsecured card, which means it’s made to help you rebuild your credit without the need of a security deposit.

Credit One provides all new cardholders with an initial spending limit of $300, but automatically reviews line increase opportunities over time.

This card charges an $75 annual fee during the first year of card usage and $99 every year after that. The $75 fee is assessed as soon as you open your account.

Therefore, the initial credit limit reduces to $225 and is only restored after you pay the charge. The APR for this credit card is relatively high at 24.24% variable, so it’s important to not carry a balance. 

The Credit One Bank® Platinum Visa® for Rebuilding Credit Credit Card has a cash back rewards program that offers 1% back on eligible gas, groceries, internet, mobile and cable services.

The bank reports monthly payments to Experian, Equifax and TransUnion, which helps to build up your credit rating. 

Platinum Visa® for Rebuilding Credit Credit Card: should you get one?

Credit One Bank® Platinum Visa® for Rebuilding Credit Credit Card
Learn the pros and cons of this card. Source: Adobe Stock.

If you need emergency spending power and can’t afford to put down a security deposit for a secured credit card, this product might be a good choice.

However, it’s important to know all the features of the card before applying to it. Especially since it can have a negative impact on your credit score if you don’t use it correctly.

See below for the advantages and drawbacks. 

Benefits

  • 1% cash back on eligible purchases;
  • Reports payments to credit bureaus;
  • Doesn’t require a security deposit;
  • Automatic line increase reviews periodically;
  • Accepts people with bad credit ratings.

Disadvantages

  • Charges an annual fee;
  • Low initial spending limit;
  • High interest rates;
  • Rewards are overshadowed by annual fees.

What is the required credit score?

Even though this is an unsecured credit card, it accepts applicants with a bad credit score. Therefore, if your rating is between 300 and 639, getting this card should not be a problem.

So if you need to put your finances in check but don’t want to put money down in a security deposit, this card might be just what you need!

Platinum Visa® for Rebuilding Credit Credit Card application

The application process for this card is simple, and you can check if you pre-qualify within seconds. Credit One performs a soft pull in pre-qualifications, which means it won’t harm your credit score.

So if you’re ready to improve your rating with the help of an unsecured card, follow the link below and learn all you need to know about how to apply for this product.  

Get the Platinum Visa® for Rebuilding Credit

Start your path on credit score improvement and learn how to apply for a Credit One Bank® Platinum Visa® for Rebuilding Credit Credit Card today!

About the author  /  Aline Barbosa

Aline Barbosa is an editor, writer and learning-enthusiast. Passionate about music, books and human behavior. Curious about the unknown. Believer that learning is a life-long process.

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