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3. Credit One Bank American Express® Card review: A card with unlimited cash back

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446

reviews

3.9

Rating: 3.9 out of 5.

Great for straightforward rewards

Annual Fee: $39

This content is curated by Intuit Credit Karma’s Editorial team using data from members who were approved for this card or similar cards, or who self-matched this card or similar cards. Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse this content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Here’s the average credit limit of members who matched their Credit One Bank American Express® Card or similar cards.

% of members by credit limit range

The average credit limit for members who have matched with this card or similar cards is $1,703, with $300 being the most common.

Here’s the average credit score of members who matched their Credit One Bank American Express® Card or similar cards.

% of members by credit score range

The average credit score for members who have matched with this card or similar cards is 602, with 577 being the most common. Note this is just one of the deciding factors when it comes to getting approved.

Member stats

Updated daily

56.7%

Average credit utilization (or what percent of the card’s credit limit is being used) of members who matched with this card or similar cards.

45 years

Average age of members who matched this card or similar cards.

$79,331

Average annual income of members who matched this card or similar cards. Note: Income may be estimated for some members by Credit Karma and may differ from members’ actual incomes.

Pros and cons

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Unlimited 1% cash back on all purchases

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No security deposit required

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Offers perks, plus American Express discounts

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Annual fee

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Low minimum credit line

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High purchase APR

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Credit One Bank American Express® Card review

Updated November 1, 2024

This date may not reflect recent changes in individual terms.

Written by: Kim Porter

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Credit One Bank American Express® Card: Core features

The Credit One Bank American Express® Card may be able to help people with fair credit improve or build a credit history. And while the card has a high APR and an annual fee, cardholders can earn unlimited cash back on all purchases and get access to other perks and benefits.

1% cash back rewards

Credit One Bank American Express® Card users earn unlimited 1% cash back on all purchases, which you’ll automatically get as a statement credit during each statement cycle. If you’re looking for more than just a bare bones card, this might be a nice-to-have feature.

High APR and some other fees

The Credit One Bank American Express® Card’s variable purchase APR, at 28.99%, is high compared to some other cards. It’ll also cost you an annual fee of $39 (you might see different terms on Credit Karma). But if you use the card’s unlimited 1% cash back feature, you may be able to break even on that annual fee if you charge $3,900 per year and pay your balance in full each month.

With this card, you can expect to pay both cash advance and foreign transaction fees. And if you’re late with a payment or don’t have enough cash in your account to cover it, you could be charged a fee of up to $39.

American Express discounts and other perks

Cardholders have access to exclusive American Express benefits, including travel deals, early access to entertainment tickets and other special dining, shopping and travel offers from American Express partners.

The Credit One Bank American Express® Card comes with some other benefits such as retail protection for purchases that are accidentally damaged or stolen and fraud liability if your card is used for unauthorized purchases.

What else you need to know about the Credit One Bank American Express® Card

If you’re considering applying for the Credit One Bank American Express® Card, here are a few more things to keep in mind.

• No security deposit required — This credit card is unsecured, which means you won’t have to put down any cash to open the account.
• Potentially low credit limit — With this card, you might start with just a $300 credit line, but you may be able to qualify for an increase down the road.
• Free online access to Experian credit information — You’ll be able to check your Experian credit score and view a summary of your credit report each month.
• Credit Protection Program available — If you enroll in this optional program, you’ll start paying 96 cents per $100 of your balance each month, up to $10,000. Then, if you lose your job or become disabled, the program covers your card’s minimum payment for up to six payment periods.

Who this card is good for

If you have fair credit and are looking for a card that offers perks like cash back, travel insurance and retail protection, along with exclusive access to some lifestyle benefits from American Express, the Credit One Bank American Express® Card may be a good fit for you. But if you don’t want to pay an annual fee, you might want to consider another card.

Not sure this is the card for you? Consider these alternatives.

• Petal® 2 Visa® Credit Card: This card could be right for those looking for a first-time credit card with strong perks.
• Capital One Platinum Credit Card: This card is designed for people with fair credit and charges no annual fee.