If you have bad to fair credit, then you might want to take a look at the options that Credit One Credit Cards are offering. As with many things, you have to take the good with the bad, and there are some good things that Credit One offers, along with some things that they can improve on. To start out, Credit One has no relation to Capital One, as they both seem to have the same style logo and name (Credit One did come out with their logo first in 2006 before Capital One rebranded theirs to the current logo in 2008).
When you apply for any of the Credit One Credit Card options, you won’t know which card you are going to qualify for upfront. You must first fill out a general application, which has no effect on your credit score, and then they will show you which of the Credit One options you can get. You also won’t know what the fine print details for the card you get will be until after you fill out the application and qualify for it.
Paying Your Credit One Credit Card Bill
Make sure to read and understand if the Credit One Credit Card account that you are approved for has a “grace period” or not. If it does, then read and understand how many days you have to pay your bill after it has posted. If your account does not come with a “grace period” then always make sure and pay your bill once it has posted to avoid additional charges.
The main drawback that Credit One has is it’s “Express Pay” option and “Standard Pay” option. We have never heard of such a thing, but it is definitely something that Credit One implements. With the “Express Pay” option you will pay a fee of $9.95 and your payment will be posted by the next business day. With the “Standard Pay” option there is no fee and your payment will be posted in about 5 business days. So, in order to avoid ever paying for the “Express Pay” service you need to always make sure to post your payment at least 6 business days before it is actually due. Many people have complaints about this and if you don’t do your research (like reading this article) then you’ll have some getting used to in order to avoid late payment fees. We assume this is Credit One’s way of generating more revenue and taking advantage of people who procrastinate and wait until the last minute to check their account. But, since most people who get a Credit One Credit Card are trying to improve their credit, they should check their account constantly anyways.
Credit One Rewards
Credit One does offer, with some of their cards, the opportunity to earn cash back rewards. There is the standard 1% cash back on certain categories, with the only bonus available being with their Credit One Official NASCAR Visa that earns 2% cash back on Nascar.com purchases. Again, you won’t know which card(s) will be available to you until to fill out an application.
Improve Your Credit Score
With your Credit One Account you are able to review your credit score for free each month to see how you are doing. You can keep track of your progress over time, see what factors go into determining your credit score, and keep working to getting closer to your goal of a better credit score.
Take The Good With The Bad
There are many other options available that you can use to improve your credit score. Then again, once you get Credit One’s system down, their cards do have the potential to get you to the credit score that you want. Credit One has established itself as a major player in the subprime credit card market, so it is in their benefit to attract as many customers as possible. At the time of this writing there are many 4 and 5 star reviews on their website, so clearly there are some very happy customers who have used Credit One’s products to improve their credit.
Remember that if you are interested in utilizing a Credit One Credit Card be sure, as with any credit card, to read and understand the fine print. You don’t want to be the one paying fees that you could have avoided if you just did a little research. Credit One does offer a decent amount of cards that could be available to you no matter what your credit score is. So take a look at what they have to offer and see if a Credit One Credit Card will be right for you to help get you the better credit score you want.