Want to start building your credit from scratch or turn a bad credit score into a good one but have limited options? Try looking into Credit One, a legitimate credit card company offering unsecured credit cards to people with bad credit scores. It offers them a way out of a credit trap while giving them multiple rewards and payback on purchases.

While paybacks and reward systems inside Credit One Bank credit cards are not as good as the ones you would get on other top credit card offerings, it only seems fair considering their low entry requirements. If you are interested in taking up the offer but are confused with the information available, then worry not, since we have got your back with this fantastic guide that tells you everything you need to know about all credit one bank visa credit cards.

Credit One vs. Capital One - Not the Same Company

Before reading our long explanations, we want you to ensure that you don't associate Credit One with Capital One or think of Credit One as a subsidiary of the latter. Credit One is not associated with Capital One; credit card issuers get confused between companies due to their similar names, logos, colors, and overall branding.

What is the Annual Fee for the Credit One Bank Visa Credit Card?

Now that you understand what a Bank Visa credit card is, the next step would be to help you with its annual fee dilemma. You must have heard that the Credit One Bank Visa Credit Card charges an annual fee. However, the question is, what the annual fee will be?

Well, the thing is that the annual fee for the Credit One Bank Visa Credit Card is a mystery until you issue the card. It can range between $0 and $75 for the first year of issuance. From the second year and all those after that, it can range from $0 to $99. While you may have to pay a combined annual fee on the first year of card issuance, the annual fee from the second year onwards will be billed in monthly installments.

Does the Credit One Bank Visa Credit Card Have an Interest Rate?

Yes! The Credit One Bank Visa Credit Card has an interest rate implemented. This interest rate cited on the "for informational purposes only" disclosure was around 9.74% to 25.74% back in August 2018. However, it might have increased since then. The interest credit rate might also differ and fall on a higher tangent for you if you also have a bad or limited credit score.

Reasons to Get a Credit One Visa Credit Card for Building Credit?

Getting a Credit One Visa Credit Card is never your only choice, but the credit card, due to its offerings and low requirements, can be the best option in a lot of situations, some of which are written below;

Your Credit Score is Bad or Fair

If you have a fair or even a bad credit score, then Credit One is the card for you; the company has an impressively low recommended credit score of just 300-670.

You Don't Want to Pay a Security Deposit

Most credit-building cards require a security deposit between a few hundred dollars and then match your internal credit to the deposit amount. On the flip side, Credit One won't ask for a security deposit and offers a minimum credit limit of $300, which will increase over time.

You Don't Mind Specific Cash Back Categories

Credit One, unlike many premium services, offers cash back for only a few select services, including groceries, gas, and your cellphone bill. It's essential to remember that this does not include discount superstores, including Target and Walmart.

How to Use the Credit One Bank Visa Credit Card to Rebuild Your Credit?

If you previously had a bad credit score, you can use the credit One Bank Visa credit card to get back on the right track and rebuild your credit. Wondering how you can do this? Well, all you have to do is follow the small credit-rebuilding tips and tricks we have mentioned below:

Make your Payments on Time

The most basic and one tip that would play a significant role in turning around your credit score on a more positive tangent is to make your payments on time. Every time you make your payments on time, you will avoid higher interest charges, ultimately increasing your chances for a higher credit limit.

Use the Card Frequently to Maximize Cash Back

Using your card frequently and paying it off on time is one tactic, but ensuring you get a maximum cashback is another excellent tip to keep in mind. By gaining maximum cashback on purchases, you, as an individual, can rebuild your credit score for the better.

Keep an Eye on your Monthly Credit Report

Keeping an eye on your monthly credit report is highly essential. This is because keeping track of how your credit report looks and planning ways through which you can improve it can significantly help rebuild your credit report.

Conclusion

If you are looking into ways of improving and rebuilding your credit scores from scratch, we hope this article on Credit One Bank Visa Credit Card was helpful for you. Let us know your thoughts on this card and whether you think it would be helpful for you in the long run. In case you already own one, make sure to share your experience of using it with other readers for sure.